Imagine the marriage between a global payment automation tool and a centralized database, synchronizing different business units and their processes.
On the one hand, you have NetSuite, a cloud-based technology that elevates the accessibility and accuracy of data regardless of your geographical location.
And on the other hand, you have Tipalti, a software that makes global payments simple and seamless.
While NetSuite offers numerous integrations, connecting with Tipalti makes a lot more sense considering its pivotal role in managing financial streams on a global level.
So, let’s tackle the benefits of a Tipalti NetSuite integration and how it can be crucial in growing your business.
Key Takeaways
- NetSuite is an ERP solution that has helped 49% of businesses improve all business processes.
- Tipalti is a global payable solution that helps businesses automate their account payables and receivables.
- NetSuite is a cloud-based system that is accessible from anywhere in the world and on any device.
- A Tipalti NetSuite integration will boost your business, making every process more efficient and fast.
NetSuite Cloud ERP Helps Grow Businesses
How do you know your business has outgrown Excel spreadsheets and basic accounting tools?
Well, it begins when you spend more time getting a grip on your finances rather than managing your business.
Excel spreadsheets and accounting software are meant to give your business a push start – but they’re useless if you talk about scaling.
While you can easily handle payroll, orders, and inventory with a basic spreadsheet, automation becomes necessary as you expand your business.
NetSuite gives you a system that automates your accounting and helps you simplify complex business processes.
46% of companies cited better business performance as their primary goal for NetSuite implementation while 40% hoped to improve business transactions.
NetSuite is a suite of cloud applications designed to help you track your financials, manage inventory levels, and maintain customer relationship management systems.
Here’s a list of tasks you can get done using NetSuite:
- Manage and track account payables and receivables
- Monitor journal entries
- Handle diverse currencies and multi-language transactions
- Process credit cards
- Automate reconciliations
- Manage inventory
- Approve and streamline invoices
- Manage order processing
Improve Reporting and Performance Metrics
How do you know how well your business is doing?
Performance metrics help you compare current business performance with past data.
Comparing your today with the past can give insight into what’s working and what needs to change.
It gives you perspective – helping you reshape your approach to handling business operations.
NetSuite is an ERP solution that takes your reporting a step further.
It gives you raw data, organizing every piece of information into actionable reports.
You can use this data to visualize the challenges that you’re currently facing.
The simplification of data provides a practical insight into your business processes.
The overall presentation of this data makes it easily digestible, which helps stakeholders develop a better understanding.
Centralize Core Operations
NetSuite is the central database of your business.
This means whatever information you need is available here.
It is available to each business unit, allowing them to receive real-time updates.
This centralized database reduces inconsistencies and avoidable delays, resulting in efficient business operations and higher productivity.
Now because NetSuite is built in the cloud, all data is accessible to your remote employees as well.
This gives your business instant visibility across channels, regardless of your location.
Manage Inventory
NetSuite provides extensive support to manage inventory and make related processes seamless.
One of the ways it helps with inventory management is by connecting your inventory with transactions.
Imagine someone visiting your website to buy something.
Its impact is visible in your inventory after the purchase is complete.
The customer can also find information about delivery, availability of goods, and whether the order has been processed or not.
NetSuite adds efficiency to your inventory management and ultimately improves your supply chain management.
Overview of NetSuite Integrations
NetSuite integration is a method that connects it with other applications and systems.
If you opt for custom integration, you allow data to flow in and out from third-party integrations to NetSuite.
The great thing about this integration is that there’s no need to transfer data manually.
When you implement NetSuite into your business, you don’t have to worry about dropping all your favorite apps.
Instead, you can bring them along and integrate them into this system to create a new infrastructure.
Integrations streamline different business processes and improve customer experience on your e-commerce stores and websites.
In addition, they automate data processing and validate their authenticity.
Setting Up NetSuite Integrations
Here are the steps to set up NetSuite integration.
- Create a NetSuite ID
- Go to Setup and click on Integration
- In the dropdown menu, you will get several options. Select Web Services Preferences.
You can use SuiteTalk or SuiteScript for NetSuite integration.
SuiteTalk
SuiteTalk is an integration tool that connects NetSuite with diverse third-party systems.
You can leverage any programming language as SuiteTalk allows codings.
Some of its benefits include:
- Real-time data visibility
- Built-in Support
- CRM integration
- Elevated security
- E-commerce product listing
SuiteScript
SuiteScript has JavaScript enabled, allowing you to customize dashboards and automate business processes.
SuiteScript can be used to command SuiteTalk.
For example, you can use it to extract data and migrate it from one location to another.
Tipalti NetSuite Integration
Tipalti is global payable software that helps with the following:
- Purchase order management
- Invoice generation
- Financial reconciliation
- Multi-method payments
- Sync automation
You can accelerate account closing by up to 25% with Tipalti.
With this software, you can conduct transactions in 120 different currencies and 50 diverse methods. It is currently available in 196 countries. 000
Tipalti gives real-time updates on your transactions and allows you to check your payment status 24/7.
You can also prepare for tax forms and gain overall control over your payables.
What Does Tipalti Do?
Account payable can be a manual and time-consuming process for most businesses – this is where Tipalti comes into play.
While you can manage it during the initial stages of your business, you need to adopt modern technology to automate processes as your business expands.
You must look into the account payable holistically and find ways to simplify the process.
And Tipalti is the solution to this problem.
You can implement Tipalti in your business within days.
It automates the payment approval process and makes relevant information easily accessible.
Use any mode of payment of your choice or opt for ACH transactions or the Stampli Direct Pay.
Tipalti reports an increase of 41% YoY growth in its customer base.
Tipalti NetSuite Integration is the Boost Your Business Needs
NetSuite and Tipalti improve business processes on their own. Now imagine the impact of their combined efforts.
Let’s take a look at the five ways your business will improve.
1. It Improves Your Communication
A Tipalti NetSuite integration significantly improves how you communicate within the company as well as outside.
It enhances your communication with your vendors, investors, and customers.
Let’s understand this better with an example.
Imagine you run an e-commerce company. Now you need to be informed on different aspects of your business, emphasizing the role of communication.
This information includes product shipments, order status, product listing, restocking, etc.
Timing plays an important role here – delays can lead to disruption and poor customer experience.
This integration makes communication seamless and data visible across different channels.
2. It Makes The Workflow More Efficient
Data visibility makes your workflow efficient.
Your workflow becomes seamless due to the smooth transference of data.
With a Tipalti NetSuite integration, the process becomes simpler.
So, whenever Tipalti needs information, it can easily acquire it from NetSuite, your centralized database.
3. It Enhances Data Accuracy
The world is rapidly progressing so no one has the time to manually handle data.
Imagine the number of mistakes this process might have.
A Tipalti NetSuite integration allows you to counter modern-day problems through automation. It ensures the accuracy of data, maintaining its integrity.
This automated process not only saves your time but also your money.
4. It Simplifies Business Processes
A Tipalti NetSuite integration gives you a holistic view of your business processes.
For example, you can not only track the status of your order but also manage other supply chain management tasks.
You get to track the entire life cycle of an order, from the minute it is placed on your e-commerce store to the time it is shipped and delivered to a customer’s doorstep.
This integration simplifies business processes, reducing errors and improving customer experience.
3 Important Statistics That Support NetSuite Integration
Let’s take a look at three important statistics that further cement the positive role of this integration.
- A study conducted on NetSuite ERP implementation proved that 82% out of 85% of businesses earned predicted ROI as per their time estimations.
- 95% of businesses claim improved business processes.
- 49% of companies say that an ERP implementation improved all aspects of their business.
The Bottom Line
A NetSuite Tipalti integration improves diverse business processes, especially how you handle account payables.
Connecting your centralized database with a global payable solution will expedite growth and increase efficiency.
While you can easily integrate NetSuite with Tipalti, it’s best to opt for professional support for ERP Integration as it minimizes the chances of error.
This is where Ledger Labs can help you.
Our 12+ years of experience empowers us to have answers to all your questions.
Let’s book an appointment so that we can help you with a Tipalti NetSuite integration.
