Creator Economy Automations: Tipalti Elevate Austin 2023

Trent Knox Show

Gaining a Competitive Edge: The Power of Automation and Tools in Business Operations

Welcome to the panel discussion on competitive advantages in tools and automation. Our panelists Trent Knox, Mark Arrieta, and Ryan Purol share their experiences and insights on how businesses can streamline their operations and gain a competitive edge by leveraging automation and tools.

Trent Knox, the creative director of Esports Business Network, highlights the challenges that the gaming industry faces in terms of communication and streamlining payments. Knox explains how automation can help to address these challenges and make operations more efficient. He also discusses the importance of choosing the right tools for the job, and how businesses should evaluate their options based on their unique needs and goals.

Mark Arrieta, the controller at FloSports, shares his company's experience with vendor onboarding and how they used to rely on spreadsheets and emails, which posed a significant security risk. Arrieta emphasizes the importance of having a streamlined, secure vendor onboarding process in place, and how automation can help businesses achieve this. He also discusses the need for ongoing evaluation and improvement of these processes to ensure they continue to meet the evolving needs of the business.

Ryan Purol, the CEO of Palladium Consulting Solutions, specializes in NetSuite implementations and explains how AP automation can be a critical area for companies to control. Purol provides a checklist of four areas to consider in business operations: order to cash, procure to pay, designed to build, and record to report. He also emphasizes the importance of having the right tools in place to manage these processes efficiently and effectively. Purol also highlights the role of project work in addressing complex issues and untangling hairball problems caused by different systems that are not communicating with each other.

The panelists agree that automation and tools are essential for businesses to achieve sustainable growth and stay competitive in today's fast-paced business environment. By streamlining operations and reducing manual workloads, businesses can focus on more important areas that require human attention, such as innovation and customer service. They also discuss the importance of ongoing evaluation and improvement of these solutions to ensure they continue to meet the evolving needs of the business.

By leveraging automation and tools, businesses can improve efficiency, reduce risk, and focus on growth opportunities that will help drive long-term success. Thank you for joining us for this informative panel discussion on competitive advantages in tools and automation.

0:00 The panelists introduce themselves.

4:34 Why Tipalti is a great tool and is highly scalable.

6:21 The challenges of being a sports streaming company, similar to other companies.

8:19 What is AP and how does it differ across different industries?

13:30 How do you manage the payments?

14:21 What was the vendor onboarding experience like?

21:20 The challenges of being global ready.

26:37 Vendor onboarding is a problem for everybody. It’s the first big step you can do to be mobile-ready.

29:41 How to get ahead of the game when it comes to acquisitions.

31:16 Managing client expectations on new tools and implementing new tools.

32:31 The challenges of scaling brands in the gaming space.

35:57 The importance of having a good relationship with vendors.

38:50 What does cash flow excellence really mean?

39:32 Having cash in the bank helps you make better business decisions.

43:03 Rising tides lifts all ships.

47:43 What’s the future of the banking industry?