MineralTree Reviews & Product Details


What is MineralTree?

Award-winning MineralTree offers the only end-to-end AP automation solution that automates invoice and payment processing. Plus, MineralTree’s AP Automation solution includes two-way integration (automatic sync) with NetSuite, Sage Intacct, QuickBooks, Microsoft Dynamics GP, Microsoft Dynamics 365 Business Central, Xero and Sage 50, Sage 100. And, check and electronic payments are processed directly from the business’s bank.

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MineralTree Profile Details

MineralTree Profile Details

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Languages Supported
English
Vendor
MineralTree
Company Website
Year Founded
2010
HQ Location
Cambridge, MA
LinkedIn® Page
www.linkedin.com
Employees on LinkedIn®
93
Twitter
@MineralTree
Twitter Followers
1,174
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Companies Using MineralTree

Wistia
Pluralsight
Rover.com
Magnetic
LiveIntent
Shopkick
Ministry of Supply
Litmus
iSIGHT Partners
ShowingTime
edX
BlueSnap

MineralTree Reviews

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1-15 of 15 total MineralTree reviews
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Accounts Payable Manager
Mid-Market
(51-200 employees)
Validated Reviewer
Verified Current User
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"Best AP Software for a Small/Midsize Business"

What do you like best?

I would like to list the main things like

1. Proper approval workflows

2. Consolidated storage of all invoice images

3. Seamless ACH/check/credit card payments to vendors

4. Proper payment controls (users have different roles in the system - one user cannot both, process and pay invoices)

5. Properly maintained virtual checkbook (all check images are automatically saved)

6. Automatic invoice data capturing (this feature will save you a lot of time)

What do you dislike?

There is nothing that I strongly dislike about MineralTree, considering how much they improved their product in 2018 - they added more reports, made the available dimensions more flexible, etc.

There are 2 things, however, that I hope to see in 2019

1. An option to make partial payments on invoices (currently unavailable)

2. 1099 assistance (MineralTree currently does not offer this service, so you would have to do it outside of their software)

Recommendations to others considering the product:

Note that no software out there is perfect. The value you are getting for your money by choosing MineralTree is great. Other companies which offer the same benefits will charge you 2 or 3 times their price.

What problems are you solving with the product? What benefits have you realized?

The biggest benefits are

- improvement of controls (you have all invoice approvals saved in one place)

- easier payment process (it takes 3 clicks to send an invoice to the treasurer's queue)

- payments are automatically posted to your general ledger

But the benefits are not limited to the above-mentioned items. I think MineralTree team is one of the best in the market in terms of responsiveness and their willingness to work with their customers to build a better product.

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Talent Coordinator
Small-Business
(11-50 employees)
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"Efficiency for Your Company & Excellent Payment Reputation with Vendors in an Easy-to-Use System."

What do you like best?

MineralTree allows the AP manager to keep track of all open invoices and route to the specific approvers. No more having invoices get lost on someone's desk. Also, MineralTree allows you to have an audit history that proves someone reviewed and approved an invoice. Best of all, if the AP manager takes some time at the beginning to set up the automatic coding/settings for individual vendors, MineralTree will do all the hard work for you whenever future invoices are run through the system. So much less data entry and so much more consistency and accuracy in the coding of invoices!

What do you dislike?

The only con of MineralTree is that the invoice entry screen only shows the top section of the invoice and not the full page. As a busy AP manager trying to quickly and efficiently check/enter data for each invoice, I disliked having to scroll down on each invoice page. I would have preferred that the full invoice was on the left side of the screen and the data entry section was on the right side of my screen.

Recommendations to others considering the product:

Make sure that your check signers provide an image of their signature that is black and very bold. Have them sign with a fine sharpie on a white piece of paper. NO BLUE PENS as it will appear faded once uploaded into MineralTree and printed on the checks. Otherwise banks may give your vendors trouble if they try to cash a check with a vague/fuzzy signature.

What problems are you solving with the product? What benefits have you realized?

Before implementation of MineralTree, our vendors were getting paid late and our company was accruing late fees and having services cut-off due to the inefficiency of the AP system. Once we implemented MineralTree, we saw an IMMEDIATE improvement in the payment of bills and got excellent feedback from our invoice approvers, payment approvers, and our vendors. No more signing of stacks of checks and no more wasting time sorting through stubs and sticking stamps on envelopes. The time saved and efficiencies gained were invaluable to my position as AP manager. I have highly recommended MineralTree to several others due to the incredible benefit I saw it provide to our companies.

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Controller
Information Technology and Services
Mid-Market
(51-200 employees)
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"You need MineralTree, you need MineralTree...everyone needss MineralTree!!!!!"

What do you like best?

The synch with Quickbooks Online is beyond amazing. I would like someone out there to find me a better integration between 2 solutions. Everyday I log in and see little traces of the integration within QBO that are insanely detailed.

What do you dislike?

This isn't a dislike against MineralTree as it is a growing pain for a smaller accounting group like ours. As with any new technology system, you need to be prepared to dedicate time to do things properly. With the insertion of an approval process flow, you have to stay on top of invoices (daily) to give your internal customers time to review and approve the invoices. Otherwise if you step into a meeting to discuss payables, you wont' have a good grasp of what your approved A/P balance really looks like. I will say though that staying on top of invoices beats the hell out of what we were doing previously (A/P approvals were done in Outlook). One thing to consider - their automated entry system that does the coding for you needs 24 hours - although this seems like a lot, don't fret, you still have the ability to pull the invoice down from the cloud. You can code the invoice to your liking and push it out for approval.

What problems are you solving with the product? What benefits have you realized?

Approval workflows, real time insights as to where AP really stands, expediting payments, and leveraging the integrated American Express payment technology. Oh and the check cutting capabilities are amazing, save a lot of time and a lot of soft costs for the organization.

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Commercial Lines Account Associate
Insurance
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"Probably the best AP software for a growing business"

What do you like best?

I love how you can easily pay credit card/cheque vendors seamlessly. Payments are controlled by user (ie some users can pay invoices whilst others can only process them in the backend). Very modern looking software and intuitive easy to use. Super easy to access on any computer. All cheque images are also saved on an archive making them easy to view should the need be.

What do you dislike?

I honestly love this software. The only thing I want is to partially pay invoices. I believe this feature should be coming out soon, because some of our payments are set up monthly.

What problems are you solving with the product? What benefits have you realized?

Quicker and super fast accounting/bookkeeping. We waste less time getting things done now. Their customer service is phenomenal and they really work with you to solve any issues (even beyond the immediate scope of the software)

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UA
Mid-Market
(51-200 employees)
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Verified Current User
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"Excellent experience"

What do you like best?

The customer service is excellent. The few times that I've called I was contacted promptly and efficiently. My calls were regarding connector issues due to my company server and I was not let off the phone until the issue was solved.

What do you dislike?

I haven't found anything that I dislike yet. A few months ago I was having issues with syncing but that was due to my company server and not MineralTree.

Recommendations to others considering the product:

go for it! Implementation is a snap!

What problems are you solving with the product? What benefits have you realized?

Digitizing the check approval process has been a life saver. No more chasing partners for signatures. They can approve anytime, anywhere. Also, the fact that I don't have to manually print and send checks is also great.

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Mid-Market
(51-200 employees)
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"Awesome AP Software"

What do you like best?

We have saved so much time moving to MT. We no longer have double work and all bills and payments are input for us. I love the data entry they do for the coding as well.

What do you dislike?

Nothing that I can think of, we have been very happy and they have made many improvements since weve been a customer.

What problems are you solving with the product? What benefits have you realized?

Helped us streamline our AP process, it has also freed up a lot of our time to work on other items.

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Controller
Market Research
Small-Business
(11-50 employees)
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"Works - mostly"

What do you like best?

I like that my boss who is the only signer and travels can approve payments wherever he's at. Also that half the work is done by the behind the scenes team who fills in as much detail as possible the night before I look at them.

What do you dislike?

It's still a work in progress. Still bugs being worked out. Some things are not as intuitive as they should be. Credit memos are not easy for one.

What problems are you solving with the product? What benefits have you realized?

Vendors getting paid more timely so they are happy. Less filing and paper which saves time.

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Finance Manager
Mid-Market
(501-1000 employees)
Validated Reviewer
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"Mineral Tree drastically improved our AP function"

What do you like best?

Automatic import and a centralized repository of invoices received from vendors with useful tracking and dashboards

What do you dislike?

Implementation can be timely and certain customizations used in NS do not necessarily fit

What problems are you solving with the product? What benefits have you realized?

Improved the AP functions cycle time, allows for vendors owners within the business to view details of their vendor, and the automated import to NS saves significant manual time.

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Portfolio Manager
E-Learning
Mid-Market
(201-500 employees)
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"I enjoy this system!"

What do you like best?

I work in company by administrator and my colleagues were looking for the best solution for managing the company's finances for about 1 year!

We stopped at this product and we do not regret.

On my own I would like to say that this product is easy to install and configure. My colleagues say it's a very convenient platform and simple to use

What do you dislike?

Now I don`t have disliked issues in this product. Support engineers helps constantly

What problems are you solving with the product? What benefits have you realized?

We make deals with this product, automate company`s payments, order, control and etc.

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AM
Mid-Market
(51-200 employees)
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"AP Automation Saves the Day"

What do you like best?

The approval workflow has been a great improvement upon our previous process and the invoice capture has been a big-time saver.

What do you dislike?

There were a few kinks in the initial set-up but the support team was very helpful throughout the process. The available reporting is somewhat limited but they are working on it.

Recommendations to others considering the product:

Take more time to assess your business needs up front and make sure your service rep is on the same page with you.

What problems are you solving with the product? What benefits have you realized?

We now have a more formal invoice approval process as well as freed up time of our AP person to focus on more pressing matters than manually inputting invoices.

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U
Small-Business
(11-50 employees)
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"MineralTree "

What do you like best?

The software is intuitive and easy to use. The approval process for my non-accounting partners is very easy. It is very stable from a performance standpoint.

What do you dislike?

Once an invoice has been uploaded into the system, it takes to long for it to be available to process.

What problems are you solving with the product? What benefits have you realized?

Efficient and streamlined payment of vendor invoices with as little manual processes as possible. Maintaining a paperless accounts payable system.

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U
Mid-Market
(501-1000 employees)
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"Great AP program "

What do you like best?

Vendor invoices can go directly to Mineral Tree via a specified email. No double handling invoices.

What do you dislike?

Coding is off sometimes and does not fill invoices correctly

What problems are you solving with the product? What benefits have you realized?

Solves need for additional staff. Approval process has been benefit so that managers see costs firsthand.

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UM
Enterprise
(10,001+ employees)
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"Convenient!!!"

What do you like best?

I love this because you are able to authorize, review and schedule your payments anytime and anywhere, rather you're home in bed or in the office! How cool is this!

What do you dislike?

I have not found a dislike with MineralTree yet.

Recommendations to others considering the product:

Great system to use!

What problems are you solving with the product? What benefits have you realized?

Bulk payments and fraud protection.

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UH
Mid-Market
(501-1000 employees)
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"So many features were behind Netsuite"

What do you like best?

They mailed all our payments for us which saved us time and money.

What do you dislike?

They were behind the updates that Netsuite provided and was not able to handle multi subsidiaries like we had originally expected.

What problems are you solving with the product? What benefits have you realized?

Reduced time by mailing our payments

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U
Small-Business
(2-10 employees)
Validated Reviewer
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"Cloud-based payment software"

What do you like best?

This software works for both small and midsize businesses, which is fabulous.

What do you dislike?

ACH payments were difficult to learn and to sync to our Quickbooks with our bank.

What problems are you solving with the product? What benefits have you realized?

The sync capabilities and invoicing

MineralTree User Ratings

9.2
Ease of Use
Average: 8.9*
9.6
Quality of Support
Average: 8.7*
8.1
Ease of Setup
Average: 8.2*
* AP Automation Category
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