Global payables automation company Tipalti has grown its revenue by 83% in the first half of 2021 relative to the first half of 2020, the company announced Thursday.
Follow Israel Hayom on Facebook and Twitter
Tipalti continued its rapid growth, surpassing $23 billion in annualized transactions in the first half of 2021, up from $18 billion in the second half of 2020 and 115% from the first half of 2020. Tipalti also surpassed the 1,500 mark for active customers.
In April, Tipalti announced its acquisition of Approve.com, a cloud procurement solutions provider, to expand its portfolio of financial operations solutions. In June, Tipalti announced new capabilities with enhanced Tipalti Multi-Entity and Multi-FX offerings that make it easier for companies with global subsidiaries to seamlessly and securely manage their accounts payable data and processes at the entity level, while also simplifying foreign exchange and currency management requirements.
Tipalti's achievements were also recognized with awards including TrustRadius' Best of Finance Software 2021 award for Accounts Payable, sweeping all three categories across Feature Set, Usability, and Customer Support.
"Our continued growth across the entire business is a clear indicator that high-velocity businesses are prioritizing the digitization of their finance operations, and we are proud to support our customers by automating the entire payables cycle, from procurement through to payment," said Chen Amit, CEO and Co-founder of Tipalti.
