MineralTree Reviews & Product Details

MineralTree Overview

What is MineralTree?

MineralTree provides secure, easy-to-use, end-to-end Accounts Payable and payment automation solutions that reduce costs by more than 75%, increase visibility and control, mitigate fraud and risk, while improving cash flow. More than 2,000 mid-sized companies, as well as more than 25 financial institutions, rely on MineralTree to help transform the finance function from a cost center to a profit center. With MineralTree, you can be up and running in days or weeks.

MineralTree Details
Languages Supported
English
Product Description

Stop manually entering invoices, chasing approvals, waiting for authorizations, and tracking payments. MineralTree Invoice-to-Pay automates the entire invoice-to-payment process - and it works seamlessly with your existing accounting package, so all workflow steps are sync’d automatically—and our multilayer security means you’re guaranteed against fraud!


Seller Details
Seller
Mineraltree, Inc.
Company Website
Year Founded
2010
HQ Location
Cambridge, MA
Twitter
@MineralTree
1,191 Twitter followers
LinkedIn® Page
www.linkedin.com
108 employees on LinkedIn®

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Owner - Developer
Accounting
Small-Business(50 or fewer emp.)
Validated Reviewer
Verified Current User
Review source: Organic
What do you like best?

As an outsourced accounting firm, speed and convenience is key when it comes to paying client bills. Setting up new vendors, especially 1099 vendors is best done inside QuickBooks. Entering bills is the fastest in QuickBooks vs. entering them in an outside product. We work as we normally do in the accounting and then Mineral Tree is out approval and paying system. Review collected by and hosted on G2.com.

What do you dislike?

The checks are thin and many vendors have tossed them as they do not look real. We also do not like the Vendor name printing on the envelope since our vendor names contain misc info such as "Needs W9" or "W9=Scorp" The name in the address field should be fine for this purpose. Attaching images to bills is clunky with too many clicks, but they are working to improve this. Review collected by and hosted on G2.com.

Recommendations to others considering the product:

Keep this one high on your list to demo if you use QuickBooks Desktop Review collected by and hosted on G2.com.

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

We do not have to hunt down signatures or go to the post office for any of our A/P clients. Review collected by and hosted on G2.com.

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Enterprise(> 1000 emp.)
Validated Reviewer
Review source: Organic
What do you like best?

MineralTree is user-friendly and efficient. My favorite feature is the Automated Approval process. We have multiple Approvers for each invoice by Department. MineralTree allows us to book invoices first, then automatically sends notices to Approvers. (This eliminates the old method, which involved hundreds of emails to individuals each month, with constant follow up.) It also expedites both the GL posting and payment process. Furthermore, the staff at MineralTree is great! They're always available to answer questions and assist. MineralTree also syncs with our Intacct Accounting system within seconds, with no effort on our part. Review collected by and hosted on G2.com.

What do you dislike?

There's only 1 aspect of the system that I am hopeful will be worked out at some point: credit memos can't be booked through MineralTree.

We have to book them manually through our Accounting software. Review collected by and hosted on G2.com.

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

We recently added an additional payment method via MineralTree, SilverPay virtual credit cards. Many Vendors are currently working from home and not able to receive checks via postal mail. This helps to resolve that issue without any bank fees incurred by us. The Silverpay implementation was incredibly smooth and MineralTree even reached out to all of our Vendors to inquire about and set up this payment method on our behalf. Review collected by and hosted on G2.com.

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AC
Small-Business(50 or fewer emp.)
Validated Reviewer
Verified Current User
Review source: Organic
What do you like best?

Like many others, I processed checks manually; having to email back and forth to get approvals that only got lost somewhere in the process. With MineralTree everything is in one place and the status is easy to see where it is. Review collected by and hosted on G2.com.

What do you dislike?

Nothing. Honestly nothing! From sales through implementation everything has been great! Review collected by and hosted on G2.com.

Recommendations to others considering the product:

If you are looking for an AP automation system to make processing your a/p then consider MineralTree. My large corporation uses a different a/p system for a/p and it is very complex (unnecessarily) and frequently frustrates users. MT was easy to understand and implement with everyone excited to move over to this system. Review collected by and hosted on G2.com.

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

I love now being able to process payments to vendors and they receive a message when payment is sent. No more calls and emails about where is my payment. Review collected by and hosted on G2.com.

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Mid-Market(51-1000 emp.)
Validated Reviewer
Verified Current User
Review source: Organic
What do you like best?

MIneralTree has taken our manual processes for invoice coding, assignment,, and paying and automated them. It has reduced our paper processing with electronic reviewing and processing of invoices. It has given us significant time savings when processing AP and allows other departments responsible for the expenses to easily assign them. Review collected by and hosted on G2.com.

What do you dislike?

At this point we are very happy with the product and level of service and support provided by the MineralTree team,. Review collected by and hosted on G2.com.

Recommendations to others considering the product:

It has proven its value to us Review collected by and hosted on G2.com.

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

Automation of manual processes resulting in a reduction in overall operating expense. Review collected by and hosted on G2.com.

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AW
Small-Business(50 or fewer emp.)
Validated Reviewer
Verified Current User
Review source: Organic
What do you like best?

We have been using Mineral Tree for over a year. When we first started we loved all the options it offered. We are able to pay our vendors with our credit card and not give out our actual credit card number. Our credit card information can no longer be compromised. No more overcharging. Now, with the pandemic working remotely we have been able to still send out check payments. This software has made our payable process that much easier. Review collected by and hosted on G2.com.

What do you dislike?

Sometimes there is an issue with syncing with Netsuite but that is a rare occurence. Review collected by and hosted on G2.com.

Recommendations to others considering the product:

Not really does everything we need it to do Review collected by and hosted on G2.com.

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

Working remotely-sending check payments

No longer received fraudulent credit card charges or overages

Streamlining creating invoice process Review collected by and hosted on G2.com.

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AP
Small-Business(50 or fewer emp.)
Validated Reviewer
Verified Current User
Review source: Organic
What do you like best?

MineralTree is an amazing AP automation program. It is very valuable for us to be able to approve all payments with a click of a button and to have all of our invoices available digitally. MineralTree also submits payments to our vendors quickly. Review collected by and hosted on G2.com.

What do you dislike?

We have been using MineralTree for two years now. There is nothing that we dislike about MineralTree. When there is a problem, the staff is very helpful and solves our problem quickly. Review collected by and hosted on G2.com.

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

MineralTree has allowed us to become a paperless office, and expedite our AP process. Our staff has saved a lot of time being able to approve invoices digitally. It is also very beneficial for us to be able to easily look for vendor invoices. Review collected by and hosted on G2.com.

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Small-Business(50 or fewer emp.)
Validated Reviewer
Verified Current User
Review source: Organic
What do you like best?

Dual sync with our accounting software and the full start to finish approval to payment process. We also love the ease of moving from company to company within mineral tree. Review collected by and hosted on G2.com.

What do you dislike?

If i had to say anything I wished the syncing time was quicker or a way to manually sync, but it is not a big deal to wait 5 minutes really. Review collected by and hosted on G2.com.

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

Approvals on all invoices - we were able to reduce our accounting department by one entire full-time position. Review collected by and hosted on G2.com.

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UM
Small-Business(50 or fewer emp.)
Validated Reviewer
Verified Current User
Review source: Organic
What do you like best?

Invoices are right there to help you enter them correctly. I am able to do everything in one program and support is one click away. Review collected by and hosted on G2.com.

What do you dislike?

I wish the PO function was easier to decipher. Sometimes green and red look the same for people who are color blind. Also, I wish errors would show up in the search function. Review collected by and hosted on G2.com.

Recommendations to others considering the product:

Mineraltree is always making updates to their system/software. Everyone in the company wants your company to do well in payments and AP and you can tell by how much they take your opinions. Review collected by and hosted on G2.com.

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

We are able to have employees approve invoices before we pay them to our vendors. Review collected by and hosted on G2.com.

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Mid-Market(51-1000 emp.)
Validated Reviewer
Verified Current User
Review source: Invitation from G2 on behalf of the seller
What do you like best?

My favorite thing about Mineral Tree is not just the software but the people that work there. Mineral Tree support is the best I have ever seen. From the sales team to implementation and support they will take care of you. Review collected by and hosted on G2.com.

What do you dislike?

The only downside to MT is related to the design of the software which is being worked on and we should see a new look coming soon. Review collected by and hosted on G2.com.

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

The automation of invoice approval process between departments in my organization has been incredible. Cutting down on data entry and increased level of accuracy of AP entries has been very helpful as well. Payment runs have also become something easy and simple. We would not be able to accomplish our volume without increasing staff if it wasn't for Mineral Tree. Review collected by and hosted on G2.com.

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AH
Mid-Market(51-1000 emp.)
Validated Reviewer
Verified Current User
Review source: Organic
What do you like best?

I enjoy the bi-directional sync between MineralTree and our accounting software Sage Intacct. Review collected by and hosted on G2.com.

What do you dislike?

Occasionally there are issues, but the MineralTree Customer Support team is great at resolving issues quickly. Review collected by and hosted on G2.com.

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

We have been able to automate the majority of our accounts payable process. Previously invoice approves were handled via email and were very difficult to maintain, monitor, and complete. Many invoices fell through the cracks or were paid late. With MineralTree, there is one location for all of the invoices and automated approval routes based on the departments and amounts. Review collected by and hosted on G2.com.

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Mid-Market(51-1000 emp.)
Validated Reviewer
Verified Current User
Review source: Organic
What do you like best?

The ease of processing large volume check payments in an ever evolving virtual world Review collected by and hosted on G2.com.

What do you dislike?

Haven't figured out how to link our online bank profile to see the updated bank balance Review collected by and hosted on G2.com.

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

Achieve our day to day payment processing during the world Pandemic Review collected by and hosted on G2.com.

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Manager, Finance and Analytics
Mid-Market(51-1000 emp.)
Validated Reviewer
Review source: Invitation from G2
What do you like best?

It’s got a clean, easily navigable UX for finding invoices Review collected by and hosted on G2.com.

What do you dislike?

Very difficult to auto import and sync to netsuite properly Review collected by and hosted on G2.com.

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

N/A Review collected by and hosted on G2.com.

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Business Manager
Mid-Market(51-1000 emp.)
Validated Reviewer
Review source: Organic
What do you like best?

We have been using this system for two years. What I like best is that I can pay invoices online with the same guidelines as we would a manual check. They approval system is great. Also, the invoices are scanned so you end up with less paper. It is easy to set up and transition to paying online at your own pace. We still write manual checks for reimbursements and a few other type items. So, you can do both. Review collected by and hosted on G2.com.

What do you dislike?

I no longer have dislikes as they have made great improvements since I first started the system. Review collected by and hosted on G2.com.

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

Well, right now our school is closed because of the COVID-19 issue and having this system in place has been a saving grace. I don't have to run around getting signatures or have people meet up with me to sign checks. Review collected by and hosted on G2.com.

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Small-Business(50 or fewer emp.)
Validated Reviewer
Review source: Organic
Business partner of the seller or seller's competitor, not included in G2 scores.
What do you like best?

I like how simple the software is. As soon as my coworker submits an invoice for approval and payment I get an email. I click the email to review the invoice and then confirm payment. Review collected by and hosted on G2.com.

What do you dislike?

There should be a way to review which payments have been run and which are still outstanding for a client to run. Review collected by and hosted on G2.com.

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

The greatest benefit is being able to use Amex and gaining Amex points. Review collected by and hosted on G2.com.

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Accounts Payable Coordinator/Facilities
Publishing
Mid-Market(51-1000 emp.)
Validated Reviewer
Verified Current User
Review source: Invitation from G2 on behalf of the seller
What do you like best?

I love being able to send approvals through MineralTree. Before, I had to scan everything in, email it, and stalk that email until it was returned to me. There were many times when co-workers would add other information, questions, etc. that I didn't want to be in the email thread. This way it's clear and concise with the ability to add notes that only apply to that invoice. I can also pre-code everything to keep our budget in line. Review collected by and hosted on G2.com.

What do you dislike?

I dislike the whole payment process in MineralTree. We jumped through a lot of hoops to get it set up. When we finally did, the whole process was changed. We decided to only pay out of our other database, but the banking info is still there in MineralTree, though we'll never access it. Review collected by and hosted on G2.com.

Recommendations to others considering the product:

Since we began using Sage Intacct, the addition of MineralTree has been, by far, the best addition or change. It helps me to process our invoices more thoroughly and completely. There is no way for my invoices to get lost anymore, and I'm not having to keep track of emails all the time. The ability to add notes to any invoice is also extremely helpful. If considering MineralTree, be sure those who will be authorizing will have the ability and willingness to simply log in, check or add codes, and approve that way. Some older people haven't been on board, but as long as your main people will use it, you're good to go. Highly recommend! Review collected by and hosted on G2.com.

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

The ease of obtaining approvals, correct coding, not losing paperwork. Review collected by and hosted on G2.com.

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UV
Enterprise(> 1000 emp.)
Validated Reviewer
Review source: Invitation from G2
What do you like best?

I love being able to go paperless and get approvals remotely. Review collected by and hosted on G2.com.

What do you dislike?

It'd be nice if ACH's processed a bit faster, we run into a few technical issues, but customer support is quick to help and correct. Review collected by and hosted on G2.com.

Recommendations to others considering the product:

The customer support is great and the help in implementation is consistent. Review collected by and hosted on G2.com.

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

Being able to work remotely and paperless. Review collected by and hosted on G2.com.

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Accounts Payable Manager
Mid-Market(51-1000 emp.)
Validated Reviewer
Verified Current User
Review source: Invitation from G2 on behalf of the seller
What do you like best?

MineralTree has significantly improved our accounts payable department. Not only is its user interface easy to navigate and understand, MineralTree has offered us excellent customer service on multiple occasions. Their staff truly cares about the product and customer experience. Review collected by and hosted on G2.com.

What do you dislike?

I've only encountered a few hiccups while using MineralTree. These small problems usually relate to the manual processing of invoices within the "inbox" tab. MineralTree has, however, reached out to me and other users in an attempt to gather feedback on these drawbacks. I'm sure many of these issues will be corrected within the coming software updates. Review collected by and hosted on G2.com.

Recommendations to others considering the product:

Considering MineralTree's fantastic customer support, I'd strongly suggest you consider this vendor as a long term solution. Review collected by and hosted on G2.com.

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

MineralTree has drastically reduced the time it takes me to process, approve, and pay invoices. Their synchronization application allows me to sync my invoices into our book keeping software. Review collected by and hosted on G2.com.

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Mid-Market(51-1000 emp.)
Validated Reviewer
Review source: Organic
What do you like best?

My favorite thing about Mineral Tree is that is freed up our staff to do more value based tasks on managing expenses rather than focusing on data entry. Review collected by and hosted on G2.com.

What do you dislike?

Sometime's it take a few clicks to get through the audit trail but that is minimal in the grand scheme of things. Review collected by and hosted on G2.com.

Recommendations to others considering the product:

I would recommend to create a generic email account (with whatever staff assigned to AP to have access( for AP invoices to be emailed to prior to moving forward with Mineral Tree or any other AP automation software. Review collected by and hosted on G2.com.

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

Enhanced Finance strategy to become paperless, strengthened internal controls, allowed AP to be accrual year round (previously cash basis until year end), connects to ERP, and increased transparency. Review collected by and hosted on G2.com.

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Mid-Market(51-1000 emp.)
Validated Reviewer
Verified Current User
Review source: Organic
What do you like best?

The support is always helping answer questions for me. The software itself is very helpful in mass processing invoices from vendors. Review collected by and hosted on G2.com.

What do you dislike?

The occasional minor technical glitch. The support crew is always there to answer my questions though. Review collected by and hosted on G2.com.

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

How to process hundreds of invoices a week. It leaves time for me to attend to other job responsibilities without feeling overly stressed. Overall very intuitive search system for pulling up old records. Review collected by and hosted on G2.com.

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Member
Hospital & Health Care
Mid-Market(51-1000 emp.)
Validated Reviewer
Verified Current User
Review source: Organic
What do you like best?

It's super easy to approve payments. Saves SO much time relative to actually signing checks, and the integration with QB is great. Review collected by and hosted on G2.com.

What do you dislike?

This may just be my user setup, but I only have approve/unapprove capabilities. I'd like to be able to approve but change the payment date, as now I have to go back to my team and have them edit and re-send for approval.

The site has also been down a few times in the last few months, so working on uptime would be a recommendation. Review collected by and hosted on G2.com.

Recommendations to others considering the product:

It's super easy to use. Think about how much time you spend signing checks, stuffing envelopes, etc. Review collected by and hosted on G2.com.

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

Time to sign checks. Needing to be physically present in order to sign checks. Review collected by and hosted on G2.com.

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AH
Mid-Market(51-1000 emp.)
Validated Reviewer
Verified Current User
Review source: Invitation from G2 on behalf of the seller
What do you like best?

MineralTree provides a great way to automate the A/P approval process, as well as the payment process, while also providing easy access for reviewing any invoice in the system. Review collected by and hosted on G2.com.

What do you dislike?

The biggest disadvantages of MineralTree that I have found are 1) the inability to process credits in the system, 2) the lack of more than 1 default account code, and 3) the inability to identify the correct vendor if we have multiple accounts for the same vendor (and therefore, multiple vendor set-ups) Review collected by and hosted on G2.com.

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

We are solving issues with the approval process where it was hard to know which invoices were sitting on someone's desk. Now we have centralized where all invoices come and we know where it is in the approval process. We have also solved the issue of not being able to see an invoice if we weren't at the corporate office. Finally, paying invoices is easy and straight forward. Because of all of this, we were able to reduce our headcount. Review collected by and hosted on G2.com.

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AD
Mid-Market(51-1000 emp.)
Validated Reviewer
Verified Current User
Review source: Invitation from G2 on behalf of the seller
What do you like best?

Our use of MineralTree has greatly reduced the paperwork involved in processing A/P. Our company has a number of people that are required to approve invoices which means tracking invoices is almost impossible. MineralTree give me the power to see which invoices have been distributed and who has not approved their invoices. My vendor statements RARELY have any past due invoice. Most of my vendors upload the invoice directly into MineralTree which is great. Review collected by and hosted on G2.com.

What do you dislike?

For vendors that I have credits for, the process of applying them and that translating to MineralTree sometimes does not work. Also, I have a vendor that gives discounts, but MineralTree cannot accommodate that aspect as of yet. Review collected by and hosted on G2.com.

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

I am solving the problem of lost/missing invoices that need approved by my managers and very little time is now spent on reconciling statements. Review collected by and hosted on G2.com.

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Mid-Market(51-1000 emp.)
Validated Reviewer
Review source: Organic
What do you like best?

I love the ease when using chat. Response time is fast, customer service is efficient and when something needs to be routed to a higher level, the correspondence is prompt and follow-up consistent. Review collected by and hosted on G2.com.

What do you dislike?

I have not had a single bad experience. We have used MT for years and have only had positive experiences. Review collected by and hosted on G2.com.

Recommendations to others considering the product:

Definitely worth it!! Review collected by and hosted on G2.com.

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

MT has eliminated our need to have a person physically in the office to sign checks. The automated process of payment approvals makes checks and balances a seamless process. Review collected by and hosted on G2.com.

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AA
Mid-Market(51-1000 emp.)
Validated Reviewer
Review source: Organic
What do you like best?

What I enjoyed most about Mineral Tree was how seamless it made everything as far as following along during our meeting. Also I do enjoy being able to replay the meetings in case I missed something, this is the first format that I have used which allows that type of support. Review collected by and hosted on G2.com.

What do you dislike?

During the several meetings we had there were situations when the presentation would lag or have audio technical issues. Review collected by and hosted on G2.com.

Recommendations to others considering the product:

I would recommend for anyone with a small business or large business. Review collected by and hosted on G2.com.

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

Mineral tree is helping us automate our AP and make it easier to communicate with our many different department heads. As well as providing one medium for us to keep track of all our work. Review collected by and hosted on G2.com.

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Repurposing to life on the road
Small-Business(50 or fewer emp.)
Validated Reviewer
Review source: Organic
What do you like best?

Syncing of invoices with my accounting system. Review collected by and hosted on G2.com.

What do you dislike?

There were no downsides to this product. Review collected by and hosted on G2.com.

Recommendations to others considering the product:

Switch to MT as quickly as you can - you will not regret your decision.

I also cannot say enough about the implementation team - they were beyond helpful and made the entire process super easy. Review collected by and hosted on G2.com.

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

Internal controls over AP workflows for approvals of both invoices and payments; ability to pay invoices out of one system and completely eliminate the need for paper checks. Review collected by and hosted on G2.com.

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Do you work for MineralTree?