How Tools and Automation Can Benefit Businesses: Insights from Tipalti Elevate Austin 2023 Panel
The Tipalti Elevate Austin 2023 panel brought together experts in the gaming, sports, and finance industries to discuss the competitive advantages that tools and automation can offer businesses. The panelists included Trent Knox, Creative Director of Esports Business Network, Ryan Purol, CEO of Palladium Consulting Solutions, and Mark Arrieta, Controller at Flosports. The panel was moderated by Evan Heby.
The discussion focused on the challenges and solutions that businesses face in terms of communication, efficiency, and streamlining payments, especially in the gaming and sports industries. The panelists shared their insights on how businesses can leverage tools and automation to overcome these challenges and stay ahead of their competitors.
One of the main challenges discussed was the need for efficient communication and streamlining international payments. Trent Knox shared that the gaming and esports industry often operates like small businesses and relies heavily on spreadsheets and tools like PayPal. Tipalti's solutions, especially their Global Payment Processing, have been a significant help in managing international payments and streamlining operations for businesses in this industry.
Ryan Purol emphasized the importance of understanding the unique needs of each organization and providing tailored solutions that optimize their operations. Way to Solving Solutions specializes in NetSuite implementations and has seen the benefits of tipalti in managing accounts payable and streamlining financial operations.
Mark Arrieta shared that Flosports faces similar challenges in terms of communication and streamlining payments, with thousands of vendors to manage and international payments to handle. Tipalti's solution has helped Flosports to easily onboard vendors and communicate with them, eliminating unnecessary emails and improving efficiency.
The panelists agreed that automation can help businesses save time and resources by automating repetitive tasks such as data entry, processing invoices, and reconciling accounts. This allows businesses to focus on strategic initiatives and growth instead of spending their time on manual tasks.
In addition, the panelists highlighted the importance of understanding and complying with regulatory requirements, especially in the finance industry. Tipalti's solutions help businesses to stay compliant with tax and regulatory requirements across different countries and jurisdictions, reducing the risk of non-compliance and penalties.
Another key takeaway from the panel was the importance of data-driven decision-making. By leveraging data and analytics, businesses can gain insights into their operations and identify areas for improvement. Tipalti's solutions offer valuable reporting and analytics features that allow businesses to track their payments, vendors, and financial performance in real-time.
The panel concluded by emphasizing the need for businesses to stay ahead of the competition by leveraging tools and automation to optimize their operations. By streamlining communication, managing international payments, automating repetitive tasks, staying compliant with regulatory requirements, and using data-driven insights, businesses can achieve sustainable growth and stay ahead of their competitors. Tipalti's solutions offer valuable tools and automation for businesses looking to optimize their operations and stay ahead of the competition.
Overall, the panel provided valuable insights into the benefits of tools and automation for businesses, especially in the gaming, sports, and finance industries. By leveraging these tools, businesses can overcome challenges, save time and resources, and achieve sustainable growth in today's competitive market. As businesses continue to face new challenges and opportunities, tools and automation will play an increasingly important role in helping them stay competitive and achieve long-term success.