Today, we announced a significant milestone on our journey to elevate how finance teams operate in the global economy. Tipalti has acquired Statement, an AI-native treasury automation company that will significantly enhance our AI-powered platform for finance automation.

For 15 years, Tipalti has executed and built upon our commitment to empower our customers to scale faster and smarter by removing the complexities of doing global business and accelerating their finance operations efficiency. We are addressing the needs of mid-market businesses that are both underserved by legacy enterprise software and under pressure to scale efficiently. As a global company, our opportunity remains immense as we provide a comprehensive suite of finance automation solutions designed for these businesses across accounts payable, global payouts, procurement, employee expenses, corporate cards, supplier management, tax compliance, and now, treasury.

Our approach to innovation is to always challenge ourselves, to rethink what is possible, and push the boundaries of what is needed for our customers. During our journey, we have also made strategic moves to accelerate our innovation trajectory, most notably with the acquisition of Approve.com in 2021.

The acquisition of Statement is another important moment for Tipalti and our customers. Statement’s powerful treasury capabilities address some of the most time-consuming and manual pain points in finance today – cash visibility, cash reconciliation, and cash forecasting across bank accounts, entities, and currencies.

The power of treasury

The treasury function plays a pivotal role in modern finance, overseeing a company’s cash flow and serving as a frontline defense in financial risk management. As businesses scale globally, treasury teams are under increasing pressure to forecast cash flow needs accurately, make informed financial decisions in real time, and manage complex treasury operations. These challenges are amplified for teams dealing with multiple global or domestic bank accounts, entities, and international currencies.

Yet, despite its importance, many organizations still rely on manual processes to consolidate cash positions.

Accelerating our technology innovation for treasury

With Statement, we have now added real-time, AI-driven cash intelligence capabilities, deepening our treasury offerings. The Statement team’s expertise complements our roots in making finance operations painless, and their AI-native, product-led, and agile approach is aligned with our DNA.

They have reimagined legacy treasury operations for modern businesses and brought advanced functionality to mid-market customers. Leveraging advanced AI and machine learning, Statement automates and streamlines the previously manual and fragmented processes of aggregating cash positions, generating forecasts, and extracting insights across banks, ERPs, billing tools, and databases. For instance, Statement makes finance teams more efficient through integration with leading ERP solutions and over 3,000 banks.

Looking ahead

Today’s announcement is more than just an expansion of Tipalti’s capabilities; it’s a clear step forward in our promise to continuously deliver meaningful innovation to our customers. We continue to further our leadership as the AI-powered platform for finance automation.

How will this impact customers?

• For Tipalti customers, Statement Treasury is available immediately as a standalone solution. In the coming months, we will fully integrate Statement Treasury into Tipalti’s platform. We encourage you to discuss a demo with your Customer Success Manager (CSM).
• For Statement customers, nothing changes. Statement will continue delivering the same high level of service and support, with no disruption to access or functionality. Statement customers will benefit from access to Tipalti’s global reach, extensive scale, extensive resources, and industry-leading financial technology leadership.