TrustRadius Insights
Centralized Approval Platform: Many users appreciate MineralTree for its centralized platform that keeps all approvals in one place, …
Overview
What is MineralTree?
MineralTree automates accounts payable and payments by connecting a business' ERP/Accounting Software to their business bank account. Since the October 2021 acquisition it is a Global Payments brand.
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What is MineralTree?
MineralTree automates accounts payable and payments by connecting a business' ERP/Accounting Software to their business bank account. Since the October 2021 acquisition it is a Global Payments brand.
Entry-level set up fee?
- Setup fee required
Offerings
- Free Trial
- Free/Freemium Version
- Premium Consulting/Integration Services
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Product Details
- About
- Integrations
- Competitors
- Tech Details
What is MineralTree?
MineralTree automates accounts payable and payments by connecting to a business' ERP/Accounting Software (e.g. Netsuite, Microsoft Dynamics). MineralTree eliminates manual check issuance through automates invoice capture, enabling online invoice and payment approvals. MineralTree improves security and prevents fraud (internal and external) with two-factor authentication and payment verification, payment limits, and integration with a business's bank through Positive Pay. And it guarantees against online payment fraud with SilverGuard, which covers losses up to $100,000 every year. MineralTree protects important payment controls from segregation of duties to dual approval, providing a full audit trail, plus offering alerts and e-mail notifications for control monitoring. Mineral starts at $495 per month but may be higher based upon on transaction volume.
MineralTree is a Global Payments company since the October 2021 acquisition.
MineralTree is a Global Payments company since the October 2021 acquisition.
MineralTree Features
- Supported: Increased accounts payable efficiency and streamlined operations
- Supported: 70% reduction in end-to-end payment processing costs
- Supported: Control and tighter management of outgoing cash flow
MineralTree Screenshots
MineralTree Integrations
- Sage Intacct
- Microsoft Dynamics GP
- Intacct
- NetSuite
- QuickBooks
- Microsoft Dynamics NAV
MineralTree Competitors
- BILL
- AvidXchange
- Concur
MineralTree Technical Details
| Deployment Types | Software as a Service (SaaS), Cloud, or Web-Based |
|---|---|
| Operating Systems | Unspecified |
| Mobile Application | Apple iOS |
| Supported Countries | United States |
| Supported Languages | English |
MineralTree Customer Size Distribution
| Consumers | 0% |
|---|---|
| Small Businesses (1-50 employees) | 5% |
| Mid-Size Companies (51-500 employees) | 70% |
| Enterprises (more than 500 employees) | 25% |
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Community Insights
TrustRadius Insights are summaries of user sentiment data from TrustRadius reviews and, when necessary, 3rd-party data sources. Have feedback on this content? Let us know!
- Pros
- Cons
- Recommendations
Centralized Approval Platform: Many users appreciate MineralTree for its centralized platform that keeps all approvals in one place, eliminating the risk of lost approvals. This feature has been mentioned by several reviewers as a key benefit.
Seamless Sync with Accounting Software: The dual sync feature between MineralTree and accounting software is highly valued by users, as it allows for a seamless approval to payment process. Reviewers have praised this feature for its efficiency and convenience.
Secure Vendor Payments: Users find MineralTree valuable for securely paying vendors with credit cards. Multiple reviewers have specifically mentioned this aspect as a positive feature of the software, highlighting its importance in maintaining secure transactions.
Cons:
- Price dissatisfaction: Some users have expressed dissatisfaction with the price of MineralTree, particularly when asked to pay by transaction in addition to the annual subscription fee. They also feel that additional training or information on the document interface and Silverpay sides would be helpful.
- Syncing issues with bank statements: Users find it difficult to reconcile bank statements in GP due to syncing issues with dates in regards to payments. This creates challenges in accurately matching payment records and can lead to discrepancies in financial reporting.
- Software performance and limitations: Users have mentioned that the software is slow and unable to handle international payments efficiently. This can cause delays and frustration for users who rely on timely processing of international transactions. Additionally, some users feel that the lack of comprehensive training materials or guidance on using certain features, such as the document interface and Silverpay, hinders their ability to fully utilize the software's capabilities.
Users of MineralTree have made several recommendations based on their experiences with the product. The three most common recommendations are as follows:
Consider MineralTree for automating AP processes. Many users have found MineralTree to be an excellent tool for automating accounts payable processes. They recommend it to anyone looking to improve their AP process, regardless of the size or type of organization. Users appreciate MineralTree's automation capabilities and its ability to streamline day-to-day invoicing and payment processing tasks.
Take advantage of MineralTree's customer support. MineralTree's customer service is highly regarded by users. They have praised the quality of customer support and implementation help provided by the company. Users suggest reaching out to MineralTree's customer support team for any questions or issues that may arise during the implementation or ongoing use of the product.
Assess business needs and align with service representatives. Users recommend assessing their organization's specific business needs before implementing MineralTree. They suggest having discussions with software engineers and service representatives to ensure that MineralTree aligns with their requirements. This proactive approach can help businesses make informed decisions about integrating MineralTree into their existing systems.
Overall, users find MineralTree to be a valuable tool for automating AP processes, appreciate its customer support, and recommend conducting thorough assessments before implementation.
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