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CompanyProfile

Cutting-edge platform

for AP automation,

payments

ISO/MLS contact:
ineralTree was founded in 2010 by BC
Krishna, with the goal of automating Jason Armata
accounts payable (AP) to enable business Partner Sales Manager
M owners and finance professionals to focus
on high-value activities. The company digitizes the entire jason.armata@mineraltree.com
AP process, using advanced automation to make AP sim-
ple, speedy, and secure from invoice to payment, accord- 617-299-3399, ext 146
ing to company representatives. In addition to its simple
user interface and end-to-end workflows, the platform
supports multiple users and permission levels, facilitat- optimization, cash flow, and security. "MineralTree
ing concurrent workflows, approval processes and pay- Analytics provides comprehensive, real-time visibility
ment scheduling. Advanced optical character recognition into every aspect of the AP process, including vendors,
capabilities enable automated purchase order matching, purchase orders, invoices, and payments," Armata said.
invoice header recognition and line-level capture. "The offering builds on MineralTree's seamless integra-
tion with customers' financial systems and consolidates
Elizabeth Kowal, chief product officer at MineralTree, data from multiple workflows to provide rich visualiza-
pointed out that MineralTree provided essential services tions of best-practice KPIs. Users can visually explore and
during the pandemic. AP automation "offers a big ROI, interact with the data to gain a deeper understanding of
and COVID-19 has made it a priority due to remote work their AP performance and make more informed business
requirements," she said, adding that the platform gave re- decisions."
mote workers access to clear metrics, improved efficien-
cies and real-time visibility of invoice tracking and AP Armata observed that MineralTree Analytics users can
systems. use customized dashboards to track metrics such as in-
voice aging, discounts, rebates earned, and payment mix.
Ease of ownership These capabilities enable accounting managers to spend
Kowal estimated that more than 3,000 mid-market com- less time seeking data and processing reports, and more
panies and over 30 financial institutions have used the time analyzing the impact of AP on their business, he
MineralTree platform to digitize and optimize AP auto- noted, adding that finance leaders can use that visibility
mation and payments. The platform, which is geared for to optimize working capital and align AP activities with
simple integration, includes numerous native accounting strategic priorities and industry best practices.
software program integrations. Onsite implementation Sales partners welcome
for most companies can be achieved in under a week and
a licensing model is also available, she added. Armata pointed out that MineralTree works with a range
of channel partners, including ISOs, ISPs and ERP VARs,
The platform uses two-factor authentication and up-to- all of which appreciate being able to seamlessly integrate
date certifications with SOC 1 Type 2, SOC 2 Type 2 Plus MineralTree Analytics with their customers' financial
(HIPAA), and is a PCI-DSS Level 1 service provider. It systems. The ability to consolidate data from multiple
supports an array of payment choices including check, workflows provides rich visualizations, enhancing the
ACH, virtual card or wire and seamlessly integrates with intrinsic value of solutions they provide to customers, he
Mastercard, Visa and American Express, as well as bank- added.
specific payment rails, to deliver abundant alternative
payment schemes to customers, the company noted. Jason Armata stated that MineralTree AP automation delivers
Armata, partner sales manager at MineralTree, stated that valuable time and cost savings to end-users by automat-
MineralTree believes in flexible pricing and maximizing ing mundane tasks related to invoice-to-pay processes.
user discounts to expand payment choices, flexibility and The recent addition of real-time analytics to the platform
payment rail optionality. further enhances our customers' visibility and control
over their AP processes by providing valuable, actionable
Integrated analytics, visualization insights. "Our clients play an important role in making

In 2021, the company launched MineralTree Analytics, an our product better," Armata said. "Their feedback is es-
integrated analytics and interactive visualization tool de- sential to our continued improvement and validates our
signed to provide insights into AP workflows, payments efforts to make it happen."
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