Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.

Attracting and Retaining Top Partners with a Best-in-Class Payments Experience

13 views

Published on

Addressing major main points in payables systems for the digital economy.

Published in: Economy & Finance
  • Be the first to comment

  • Be the first to like this

Attracting and Retaining Top Partners with a Best-in-Class Payments Experience

  1. 1. Tipalti Confidential – Do Not Distribute Rob Israch | CMO Attracting and Retaining Top Partners with a Best-in-Class Payments Experience
  2. 2. Tipalti Confidential – Do Not Distribute Increasingly Competitive Crowd Space = More Selective Partners • Harder to attract • Harder to retain • Provide a great experience • GO GLOBAL to expand supply
  3. 3. Tipalti Confidential – Do Not Distribute Global Partners Grow Your Crowd Benefits • Expands population of providers • 24x365 potential • Controls margins with Hub & Spoke model • Adds diversity to offerings Challenges • Process complexity • Scale issues • Risks & regulations 74% Would leave a marketplace because of a payment issue
  4. 4. Tipalti Confidential – Do Not Distribute 5 Steps to a Best-in-Class Payments Experience
  5. 5. Tipalti Confidential – Do Not Distribute # 1 – Automate Partner Onboarding • Stop using unsecure email for payment onboarding • Enable payment choice (method, thresholds, currency) • Provide 24x7 access to payment settings and status • White-labeled portals ensure trust • Portals should guide data entry to reduce errors 71% Payment choice is important to establishing loyalty
  6. 6. Tipalti Confidential – Do Not Distribute #2 – Develop Cross-Border “Intelligence” • Global payments are complex – over 26,000 rules • PayPal? Global ACH? Wire? ACH? Currencies? • Payment errors are big headaches • Return fees are expensive • Multi-entity visibility is critical 67% ”Pay me in my local currency” – Non-U.S. partners
  7. 7. Tipalti Confidential – Do Not Distribute #3 – Be Proactive in Communicating Payments Info • Send payment status notifications automatically 74% Would leave a marketplace because of a payment issue • Enable 24/7 payment portal access • Guide partners through payment issues
  8. 8. Tipalti Confidential – Do Not Distribute #4 – Be Tax Compliant • Payer responsible if Payee doesn’t provide right forms – 30% penalty! • W-9, W-8 series, VAT • Must verify tax details during onboarding • Withholding calculations prior to payment 60% International partners were not asked for W-8 series forms
  9. 9. Tipalti Confidential – Do Not Distribute #5 – Stay “Lean” to Scale • Reduce friction internally and with partner relations • Maintain operating margins • Establish infrastructure to grow with you • Integrate all payables workflows & with ERP • Don’t let growth kill your success 96% Partners said payments are important
  10. 10. Tipalti Confidential – Do Not Distribute Review: 5 Steps to Best-in-Class Payments 1. Automated onboarding 2. Cross-Border intelligence 3. Proactive communications 4. Tax compliance 5. Lean, scalable operations
  11. 11. The Payables Automation Solution for Today and Tomorrow
  12. 12. 12 Tipalti Confidential – Do Not Distribute m 98% Customer Satisfaction | $7B+ in Transactions Managed Annually | 4M+ Payees Solving Crowdsourcing Payment Operations
  13. 13. Tipalti Confidential – Do Not Distribute Questions?
  14. 14. Tipalti Confidential – Do Not Distribute Thank You! @risrach / @tipalti

×