What is the Gig Economy and Its Benefits? - Tipalti
A gig economy is a labor market in which independent workers are hired for short-term commitments, rather than salaried employees.
gig economy is changing
The <anchor>gig economy is changing</anchor> and has been under much scrutiny for the past few years. That’s because technology (like smartphones and marketplaces) has enabled an unprecedented number of full-time workers to enter the freelancing market. Anyone can Google to get started. This is both a good and bad thing for modern business models.
How Online Companies Solve Supplier Payments | Tipalti
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# How Online Companies Solve Supplier Payments

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#### Phil Newell | Director, Finance & Accounting IT at GoDaddy

“We’ve been able to offload the collection of tax information from all of our partners to a central place where we don’t physically manage and input this data. It’s all on the platform, which has really helped reduce the compliance risk.”

- #### Wipe out 80% of paper-based processes

- #### Easily onboard service providers

- #### Execute global payments

- #### Streamline partner communications

Wipe out 80% of paper-based processes

Wipe out 80% of paper-based processes

## A payables process you’ll never think about again.

Automate the entire process for paying your network of global freelancers and contractors.

Easily onboard service providers

Easily onboard service providers

## Reduce the friction of making your network payable

A complete whitelabeled, self-service onboarding system that’s easy to implement and intelligent.

Execute global payments

Execute global payments

## Pay anyone, anywhere

Pay partners in 196 countries using 120 currencies, and across multiple payment methods in a matter of clicks.

Streamline partner communications

Streamline partner communications

## Eliminate complex partner communications

Proactively notify partners about payment status and issues—reducing calls to your finance team.

## Hear from our online services customers

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Expanding their global marketing partner base unlocked millions

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Brings accounting in-house with streamlined financial operations

## Why trust Tipalti with your partner payments?

Accelerate Network Growth

Go global with your partner base to achieve growth at scale. If you’re on a go-to-market and expansion track, Tipalti lets you leverage providers from all over the world.

Improve Partner Relationships

Offer the most flexible payment options (including US ACH, wire transfer, global ACH, PayPal, prepaid debit, or paper check) to attract and retain the best online service partners, while reducing the risk of paying fraudsters. They can also be paid in their local currency across 120 options.

Eliminate Manual Processes

Manual effort can lead to mass payment errors. Dramatically reduce payment workload by 80% with self-service onboarding, automated communications, and a unified payment processing interface. You’ll also reduce payment errors and potential fraud.

Effortless Tax Compliance

Don’t wait until year-end to hunt down partners for their tax forms. Collect W-9, W-8 series, or VAT ID forms and produce submission-ready 1099 and 1042-S reports.

## How Online Services Companies Use Tipalti

## Partners login into a secure whitelabeled portal

- They provide identity, payment details, and tax information (e.g. W8, W9, VAT).
- Tipalti verifies payment details using over 26,000 rules.
- The portal provides updates on payment status and allows for self-service changes.

## You determine who’s paid, how much, and when

- Tipalti integrates with your ERP, performance tracking data, through the Tipalti API, or accepts a payment instruction file.
- Tipalti routes payments internally to secure approvals, making sure funds exist, and paying in the supplier’s chosen payment method (e.g. ACH, wire transfer, PayPal, etc.).
- No more logging into individual banking portals or reconciling payments from across multiple accounts.

## Payments are scheduled and sent

- Tipalti sends the payments out through the proper banking channels.
- Tipalti alerts payees of payment status and reports any issues to them if funds don’t land.
- Payments and transaction fees are fully reported for reconciliation in real time.

## Innovation and efficiency  come built-in

Tipalti offers the most comprehensive payables technology to help your

business streamline, simplify, and evolve.

- All
- AP & Procurement
- Mass Payments

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#### Invoice Management

Ditch the busy work with automated invoice processing with smart OCR. Advanced approvals with AI streamlines the approval process and minimizes delays.

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#### PO Management

Manage spend all in one place. Streamline purchase requests, PO’s, approvals, and vendors with budget visibility to make informed decisions.

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#### Global Payments

Send payments in 120 currencies in 196 countries through six unique payment methods.

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#### Currency Management

Save time and money on FX conversion payouts with highly competitive exchange rates.

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#### Payment Reconciliation

Speed up financial close by 25%+ by synching and reconciling multi-entity payables data with ERP and Accounting systems.

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#### Self-Billing Module

Simplify self-billing processes with automated invoice creation and submission while ensuring global regulatory compliance.

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#### ERP Integration

Best-in-class integration with your existing ERP and accounting systems and sync invoices, suppliers, payments and purchase orders.

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#### Payments API

Integrate any system through our highly secure API that offers full-featured interfaces.

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#### Money Transmitter License

Get peace of mind for global transactions, more transparent controls and compliance review process by leveraging Tipalti’s banking and compliance rails.

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#### Artificial Intelligence/Tipalti AI

Take advantage of proactive, smarter processes for the entire payables operation as well as greater efficiency and risk mitigation.

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#### Supplier Management

Effortlessly onboard vendors with a multilingual, self-service portal that’s brandable. Plus, give suppliers a real-time view of payment and invoice status.

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#### PO Matching

Eliminate overspending and strengthen financial controls with automated 2-way and 3-way matching and enjoy a frictionless approval cycle.

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#### Tipalti Card

Gain complete control and visibility over your corporate card spend with a solution integrated into the most powerful global finance automation solution with automatic reconciliation.

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#### Multi-Entity

Manage unique payables workflows and centralize AP for subsidiaries and entities within a single instance.

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#### Tax Compliance

Take the headaches out of collecting and validating IRS and VAT IDs. KPMG-approved for W-8/W-9 IRS requirements and generate 1099/1042-S tax prep reports.

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#### Financial Controls

Enterprise-grade financial controls: Fraud, tax, regulatory, audit, spend and cash flow.

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#### Fraud Detection

Tipalti Detect lets you proactively identify payee fraud risk and maintain a full audit trail.

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#### Secure Cloud

Rest assured that data is collected, stored, and transmitted securely in the cloud. Tipalti is SSAE 18 and ISAE 3402 SOC 1 Type II and, SOC 2 Type I certified, and GDPR Compliant.

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#### Simplify Performance-to-Pay

Easily sync data from marketplace platforms and tie performance analytics to pay partners.



## Let’s get more productive

Talk to an expert and learn how you can take control of your payables.

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