PALO ALTO, Calif.--(BUSINESS WIRE)--Tipalti (http://www.tipalti.com), provider of the leading supplier payments automation platform, has announced the appointment of Steve Sovik as Chief Revenue Officer. The company also reached a new milestone when it surpassed $2 billion in transactions under management annually by the end of 2015, with total revenue growth of 200 percent from 2014.
In his new role, Sovik will be responsible for leading all of Tipalti’s global revenue-related activities, including Tipalti’s sales, sales operations, customer success, and channel organizations. Prior to Tipalti, Sovik spent five years at Coupa Software as SVP Sales, where he led the firm from an early startup to a leader in the Spend Optimization space. Under Sovik’s sales leadership, Coupa experienced rapid revenue growth, leading to recognition on both the Deloitte’s Technology Fast 500™ and Inc. 5000 America’s Fastest-Growing Private Companies lists. Prior to Coupa, Sovik held a variety of executive sales positions at Oracle, Siebel, and SupportSoft, specializing in ERP, supply chain management, and CRM solutions.
“As we continue to expand our customer base across different industries, company sizes, and regions, it's critical that our rapidly growing company has top leadership talent in place to drive our long-term success,” said Chen Amit, Co-founder and CEO of Tipalti. “With 24 years of industry experience with some of the most respected firms in the enterprise software space, Steve brings enormous insight and leadership to our team, which will prove invaluable in our continued global expansion.”
In 2015, Tipalti grew 200% year-over-year while maintaining a 99 percent customer-retention ratio. Tipalti has amassed over $2 billion in transactions under management annually, with over 600,000 payees.
Tipalti is the only supplier payment automation solution to streamline all phases of the payment management workflow in one holistic cloud platform.
Tipalti makes it painless for accounts payable departments to manage their entire global supplier payments operation. The solution addresses everything from payee onboarding and vetting, tax and regulatory compliance, payments to suppliers anywhere in the world in a wide range of payment methods and currencies, proactive supplier payment status communications, to enterprise-grade financial controls, payee and tax reporting, and closing the loop with real-time payment reconciliation with ERP.
Finance organizations use Tipalti to eliminate up to 80% of their supplier payment workload and to help them scale their business efficiently. Tipalti allows organizations to strengthen financial and compliance controls and accelerate payment reconciliation cycle times, while improving supplier relationships through an enhanced supplier payment experience. That’s why companies like GoDaddy, Visually, Disqus, Touch of Modern, Chartboost and hundreds of others trust Tipalti to elevate their supplier payment operations.