mineraltree Reviews & Pricing

Key Features

• Payment: Transfer funds between entities electronically. Process multiple financial transactions with the Automated Clearing House. Use corporate debit and credit cards for B2B payments. 
• Payment Processing: Process payments by batch without manual intervention and schedule them at a predetermined date and time. Submit invoices on the self-service portal through mobile apps and track payment history. Cross-check invoices and bank statement information. Offer one interface for in-store, online and on-the-go setup for different acceptance points. 
• Security and Compliance: Transform confidential financial details into indecipherable codes with end-to-end encryption. Maintain compliance with information security standards in credit card processing. Secure credit card details with fraud management. Encrypt electronic data via the Secure Socket Layer. Ensure vendor compliance with the Association of International Certified Professional Accountants. 
• Risk Analysis: Minimize future risks with root cause analysis and process improvement. Improve efficiency by identifying threats and reducing errors. Use risk factors to score suppliers and vendors. 
• Recovery: Mitigate mistakes by identifying and recouping funds. Reduce future lost profits and set up breakdowns with reporting tools. 
• Audits: Discover AP outliers outside the company using a library of audit-tested filters. Track historical payment inaccuracies through post-audit data analysis and generate claims automatically. Determine and prevent overpayment or duplicate payment errors. 
• Frauds: Set up automatic new vendor checks to tackle potential billing schemes. Perform a thorough investigation with easily digestible data. Monitor frauds across different systems and data formats. 
• Integration: Integrate with products like accounting and financial management software. Create custom integrations with different plugins and APIs. Combine with payment gateways and enterprise payment systems. Transfer amounts for approved invoices by syncing with company accounts. 
• Invoice Management: Record import or scanning invoices. Let suppliers submit bills through the online portal. Provide a central repository for AP documents.  
  • Invoice Processing: Check AP invoices with POs, contracts and payments. Determine incomplete or late supplier payments. Guarantee compliance with local and govt tax regulations for collections. Consolidate various invoices and process them in batches. Review invoices with purchases and sales orders and payments. Generate invoices at predefined dates and times automatically. 
• Analytics: Identify overdue payments by tracking invoices based on due dates. Compare different AP automation factors with other organizations. Track KPIs like payment errors or time taken in processing invoices and payment methods, such as deposits or partial payments. Control incoming and outgoing cash flows. 

Limitations

•  Slow to use with multiple approvers. 
•  Doesn’t allow users to track invoices completely. 
•  Lacks customization capabilities. 
•  Doesn’t facilitate international payment transfers. 

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