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The Green Sheet Online Edition

April 27, 2020 • Issue 20:04:02

New Products

Ease remote work with integrated, automated AP management

Product: AP Payment Automation
Company: MineralTree

MineralTree, an SaaS-based accounts payable (AP) and payments automation provider, enhanced its technology suite, enabling users to integrate its AP automation solution with hundreds of enterprise resource planning (ERP) and accounting software platforms. These new capabilities facilitate seamless integrations and improve remote workplace environments for finance teams and middle market businesses, according to company representatives.

Elle Kowal, chief product officer at MineralTree, pointed out that mid-market businesses with revenues ranging from $10 million to $1 billion account for approximately one-third of U.S. private-sector gross receipts. Complex ERP systems frequently make it difficult for midsize business owners to automate AP processes. And until recently, few ERP and AP integration options have been available in the mid-market sector, she stated.

"Back-office processes like AP are very time-intensive and inefficient, and many of these companies are left to choose between lightweight solutions designed for small businesses and overly complex and costly enterprise systems," Kowal said. "We created a framework with bidirectional synchronization between MineralTree and many ERP systems and are helping middle-market companies integrate workflows and rethink approaches to payment automation."

Deep integrations

Kowal additionally noted that numerous mid-market business owners outgrow their ERP systems. MineralTree's dedicated implementation teams work closely with clients at every stage of their journey by assisting them with complex workflow integrations, migrating to new ERP platforms or enhancing existing legacy systems.

MineralTree can work with all types of ERP systems, from deep API-based integrations to working with legacy systems and minimal data. Kowal noted that many ERP systems are not cloud-based, which necessitates gathering client data to populate the AP automation platform.

"When you think of the related costs of writing checks and manual accounting processes, we take all that cost out of clients' hands," Kowal said. "We grow with our clients in multiple industries as they digitize payments and replace manual processes with ACH and virtual card."

Quick implementation

MineralTree's automated AP integration with accounting and ERP systems is ideal for home-office environments, especially during the current COVID-19 pandemic, as midsize business owners struggle with work-from-home guidelines, Kowal stated, adding that these ERP integration capabilities enable users to expeditiously automate their AP processes, from invoice to payment, while working from anywhere that has an internet connection.

"Whether a company is looking to automate the entire invoice-to-pay process or start with just a payment automation solution, our quick implementation process can have new clients realizing significant value in days," Kowal said. She further noted that the company's growing network of channel partners includes 1,500 middle-market enterprises and nearly 30 financial institutions.

In addition to ensuring transparency, accuracy and up-to-date information, MineralTree's secure, user-friendly AP and payment automation solutions can help mid-market merchants replace manual processes, reduce fraud and improve cash flow management. The solutions are compatible with many popular mid-market ERP systems, Kowal pointed out. Participating organizations can use the solutions to save time and money while streamlining AP processes. end of article

Website: www.mineraltree.com Contact: info@mineraltree.com

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