Tipalti vs PROCAS
Last Updated:Our analysts compared Tipalti vs PROCAS based on data from our 400+ point analysis of Accounting Software, user reviews and our own crowdsourced data from our free software selection platform.
Product Basics
Tipalti is an accounting solution that automates payables and invoice-to-pay-to-reconciliation procedures, allowing companies to adapt and thrive with updated practices while keeping payables hassle-free, safe and more efficient. Its scalability enables users to pay a large population of suppliers for digital goods and services.
Supplier and invoice management, payment reconciliation, tax and value-added tax (VAT) compliance and self-billing are its top features.
PROCAS is a comprehensive software solution designed to streamline accounting and project management tasks, particularly for government contractors. It excels in providing detailed financial insights and compliance with federal regulations, making it ideal for industries involved in government projects. The software offers robust features such as timekeeping, expense tracking, and project cost management, which are crucial for maintaining accurate financial records and ensuring compliance with government standards. Users appreciate its user-friendly interface and the ability to customize reports, which enhances operational efficiency. While pricing details are not explicitly available, potential users are encouraged to contact SelectHub for a tailored quote. Compared to similar products, PROCAS stands out for its specialized focus on government contracting, offering unique benefits that cater specifically to the needs of this sector. Its ability to integrate seamlessly with existing systems further enhances its appeal to businesses seeking a reliable and efficient accounting solution.
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Product Insights
- Initiate Supplier Collaboration: Input information into the Supplier Hub extension that's either hosted by Tipalti or a white-labeled iFrame that easily meshes with the HTML of a user's website. Users can personalize the Supplier Hub to match their brand's appearance, allow their suppliers to upkeep accurate information about their data and deplete duplicate registrations to ensure an orderly vendor master file.
- Group Invoices: Handle numerous invoices in a batch or single workflow with the invoice management element's payment processing tool. It's feasible to classify invoices for payment no matter which organization they're from or what payment method they're implementing. Users may also hold supplier payments if competent funds aren't available instantly.
- Establish Varying Tolerances: Develop tolerance boundaries per amounts or percentages so an invoice is still labeled "considered" if it falls within the tolerance benchmark. Users may produce rules for freight, delivery, taxes and discounts as well as slash the number of exceptions that need more investigating. This program also enhances first-time match rates to pare expenses.
- Comply with Tax Regulations: Follow IRS tax provisions to a tee and update in real time with the tax and VAT compliance element. This tool enables users to require all payees to complete the proper tax forms or input their VAT or local tax ID for the self-registration process. Users may also define tax ID submission as a requirement during onboarding whether or not they hit the IRS $600 benchmark.
- Robust Controls to Oversee Funds: Employ vigorous internal controls that secure funds that leave companies with the global payment function. It manages payment operations and comes with unlimited payment approvers, modifiable workflows and role-based access. Users can initiate audit trail logs to chronicle user activity within the application to verify that they consistently have an auditable archive.
- Conduct Internal Self-Billing: Direct bills for approval after invoices have been drafted via comma-separated values (CSV) or with this software's application programming interface (API) with the self-billing module automatically. According to payee preferences, users can draft and deliver bills to their internal finance team for approval and carry out payments.
- Clear Transaction Insights: Exhibit detailed knowledge for each attempted and completed payment with the payment reconciliation appliance. Auto-highlight unmatched transactions to payout bank account statements and payout instructions such as rejected payments. Users may also export these reports to Excel spreadsheets for additional evaluation to ensure a speedy month-end close.
- Easily Detect and Rectify Fraud: Supervise the full supplier payments operation to surveil applicable data points— i.e., contact details, account numbers, emails and payments — to pinpoint patterns and identify possible fraudsters within your network with the detect accessory.
- Streamlined Compliance: PROCAS ensures adherence to government regulations, such as DCAA compliance, by automating audit trails and providing detailed reporting capabilities.
- Enhanced Financial Accuracy: The software minimizes human error through automated calculations and real-time data updates, ensuring precise financial records.
- Time Efficiency: By automating routine accounting tasks, PROCAS frees up valuable time for employees to focus on strategic activities rather than manual data entry.
- Improved Decision-Making: Access to comprehensive financial data and analytics enables informed decision-making, helping businesses to identify trends and optimize resource allocation.
- Cost Savings: Reducing the need for manual processes and minimizing errors can lead to significant cost savings in both labor and operational expenses.
- Scalability: PROCAS can easily adapt to the growing needs of a business, accommodating increased transaction volumes and expanding operations without requiring significant system overhauls.
- Security and Data Integrity: The software employs robust security measures to protect sensitive financial data, ensuring that information remains confidential and intact.
- Customizable Reporting: Users can tailor reports to meet specific business needs, providing insights that are directly relevant to their unique operational context.
- Seamless Integration: PROCAS integrates smoothly with other business systems, such as payroll and project management tools, creating a cohesive ecosystem that enhances overall efficiency.
- User-Friendly Interface: The intuitive design of PROCAS makes it accessible to users with varying levels of technical expertise, reducing the learning curve and increasing productivity.
- Real-Time Collaboration: Multiple users can access and work on the system simultaneously, facilitating collaboration and ensuring that everyone is working with the most current data.
- Comprehensive Support: Users benefit from extensive customer support and training resources, ensuring that they can maximize the software's potential and address any issues promptly.
- Project Cost Management: PROCAS provides detailed insights into project costs, helping businesses to manage budgets effectively and avoid cost overruns.
- Audit Readiness: The software maintains thorough records and documentation, simplifying the audit process and reducing the stress associated with compliance checks.
- Flexibility in Deployment: Whether on-premise or cloud-based, PROCAS offers deployment options that suit different business environments and IT strategies.
- Collect Tax Forms: Browse and choose the exact forms with more than 1,000 rules and TIN matching confirmation details with the tax form selection wizard extension on the supplier management appliance. There are end-of-the-year 1099 and 1042-S reports that offer submission-ready documents to superintend reporting to federal and state authorities, including withholdings. The tax compliance features are KPMG-approved meets all IRS requirements.
- Swiftly Send Invoices: Send invoices via email or upload them to their portal to track their progress with the inventory management component. Users can deliver invoices directly to their accounts payable alias, import them directly from the supplier or AP Hubs and clone protection notifications if the bill looks similar to a previous invoice.
- Customize Purchase Orders (PO) Agreements: Work with PO operations that save users time and effort thanks to the PO matching apparatus. Users gain greater compliance with their company's purchasing policies. Every invoice goes through benchmark optical character recognition (OCR), advanced data collection and approval operations before the payment is processed.
- Meet International Tax Compliances: Leverage local and VAT tax ID collection for non-US payers via the tax and VAT compliance feature. This tool can monitor document collection for European regions so vendors may add supplementary information accordingly and activate self-billing invoices when suppliers need to approve invoices before handling them.
- Full Payment Visibility: Keep suppliers in the loop about processed payments in addition to failed expenditures and why they failed with the global payment appliance. Suppliers may also review their complete payment history with the online portal function, eliminating spent-hours on troubleshooting. This component notifies payees if additional details are needed to complete the payment, whether or not tax forms need updates and more.
- Perform Payee Approval Self-Billing: Generate bills and mark them as pending payee approval or pending payee invoice — depending on their specific country — with the self-billing appliance. This apparatus formulates bills via API or CSV and enables payees to receive email alerts to approve bills. Payees may approve bills or provide emails as well as initiate payments that align with payee preferences.
- Integrate with Other ERP and Accounting Software: Sync payment results with their ERP or accounting solutions automatically via the payment reconciliation tool. This tool reduces extra work for teams within a user's business, diminishes errors and depletes unnecessary stress during close processes.
- Upkeep Archives of Suspicious Actions: Stay on top of threatening activities by keeping backlogs of case records to know who evaluated a case, its assessment date, the outcome and why with the detect appliance. Users can print intricate payee reports to review why a payee is blocked and what stage of risk the payee inhabits. This tool aids users in stopping swindlers before making a payment, saving their company money.
- Timekeeping System: Offers a user-friendly interface for employees to log hours, ensuring compliance with DCAA requirements.
- Expense Reporting: Streamlines the process of submitting and approving expenses, with built-in audit trails for accountability.
- Project Costing: Provides detailed tracking of project costs, allowing for precise budget management and forecasting.
- Indirect Rate Management: Facilitates the calculation and application of indirect rates, crucial for government contract compliance.
- Financial Reporting: Generates comprehensive financial reports, including balance sheets and income statements, tailored to government contracting needs.
- Billing and Invoicing: Automates the creation of invoices based on contract terms, reducing manual entry and errors.
- Contract Management: Tracks contract modifications and funding, ensuring accurate billing and compliance with contract terms.
- Security and Access Controls: Implements role-based access to protect sensitive financial data and ensure only authorized personnel can access specific information.
- Integration Capabilities: Seamlessly integrates with other systems such as payroll and HR, enhancing data consistency and reducing duplication of efforts.
- Audit Support: Provides detailed audit trails and documentation to support internal and external audits, ensuring transparency and accountability.
- Multi-Company Support: Manages accounting for multiple entities within a single system, simplifying consolidation and reporting.
- Customizable Dashboards: Offers personalized dashboards for users to monitor key performance indicators and financial metrics at a glance.
- Compliance Monitoring: Continuously updates to reflect changes in government regulations, helping businesses maintain compliance effortlessly.
- Training and Support: Provides comprehensive training resources and responsive customer support to ensure users can effectively utilize the software.
- Data Import/Export: Facilitates easy data transfer to and from the system, supporting various file formats for flexibility.
- Scalability: Designed to grow with your business, accommodating increasing data volumes and more complex accounting needs over time.
- Real-Time Data Access: Enables users to access up-to-date financial information, supporting timely decision-making and strategic planning.
- Custom Reporting Tools: Allows users to create tailored reports to meet specific business requirements, enhancing analytical capabilities.
- Mobile Accessibility: Provides mobile access to key features, enabling remote work and on-the-go management of accounting tasks.
- Budgeting and Forecasting: Supports detailed budgeting processes and future financial projections, aiding in strategic planning and resource allocation.
Product Ranking
#11
among all
Accounting Software
#36
among all
Accounting Software
User Sentiment Summary
487 reviews
6 reviews
Tipalti has a 'great' User Satisfaction Rating of 89% when considering 487 user reviews from 5 recognized software review sites.
PROCAS has a 'excellent' User Satisfaction Rating of 97% when considering 6 user reviews from 1 recognized software review sites.
4.8 (14)
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4.5 (204)
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4.83 (6)
4.7 (129)
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4.0 (2)
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4.2 (138)
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Awards
No awards.
PROCAS stands above the rest by achieving an ‘Excellent’ rating as a User Favorite.
Synopsis of User Ratings and Reviews
Tipalti is a robust accounting ERP that streamlines all workflows and bookkeeping needs. Its implementation is comfortable and pleasing to users. Its performance is impeccable because it provides a centralized location for various payment options and its modules — tax compliance, billing, invoicing, payment management and more — offer efficient bookkeeping needs. Users also agree that the customer support team is quick to respond and resolve problems. Despite some users' sentiments about the clunky interface and non-flexible reporting apparatus, most find this solution as a handy asset.
How do you account for PROCAS's popularity among government contractors? User reviews from the past year reveal a consistent narrative: PROCAS is a robust accounting software specifically designed for government contractors, particularly those seeking DCAA compliance. Users rave about its integrated timekeeping and accounting features, which streamline processes and improve accuracy. One user, for instance, highlighted how PROCAS "calculates indirect rates and applies rates to our projects," simplifying a typically complex task. This integration is critical for government contractors who need to precisely track and allocate costs to meet regulatory requirements. However, some users find the software's customization options, particularly for indirect rates, to be somewhat cumbersome and time-intensive. Additionally, a few users expressed that the reporting functionality could be more robust, limiting their ability to generate comprehensive financial analyses. For example, one user wished for a consolidated monthly profit and loss report spanning 12 months, instead of having to generate individual reports for each month. Despite these drawbacks, PROCAS consistently receives high praise for its ease of use, especially for a software dealing with the intricacies of government accounting. This user-friendly design makes it a perfect fit for small to mid-sized government contractors who may not have dedicated IT resources. Moreover, its affordability, compared to enterprise-grade solutions like Deltek Costpoint, makes it a compelling choice for budget-conscious firms. In essence, PROCAS proves that you don't need a prodigious budget to implement effective and compliant accounting practices.
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