MineralTree, an accounts payable (AP) and payments automation solution provider, today announced the addition of a new integrated analytics and interactive visualization tool to its software platform. The offering unlocks valuable insights into AP workflows, payments optimization, cash flow, and security. The new capability is available immediately to all MineralTree Invoice-to-Pay users.
Finance leaders increasingly require real-time visibility and control over their processes to ensure timely decisions that are aligned with business priorities. In fact, a 2020 survey conducted by Grant Thornton found 78 per cent of CFOs are looking for quick access to the right data to support their decision making. This need exists due to the challenges of aggregating data from multiple systems and then presenting it in a way that facilitates immediate understanding and action.
MineralTree Analytics provide comprehensive, real-time visibility into every aspect of the AP process, including vendors, purchase orders, invoices, and payments. Building upon MineralTree’s integration with customers’ financial systems, the new offering consolidates data from multiple workflows to provide rich visualizations of best-practice KPIs. Users can visually explore and interact with the data to gain a deeper understanding of their AP performance and make more informed business decisions.
“The visual dashboards in MineralTree Analytics are extremely useful when trying to get a quick glimpse into invoices vs payments at different stages of the AP process,” said Uma Ganijee, Accounts Payable supervisor at Seismic and MineralTree user.
MineralTree Analytics provides users with real-time dashboards to track metrics, such as invoice aging, discounts, rebates earned, and payment mix. As a result, accounting managers spend less time seeking data and processing reports, and more time analyzing the impact of AP on their business. At the same time, finance leaders are able to leverage real-time visibility to optimize working capital and align their AP activities with strategic priorities and industry best practices.
“Businesses are already using MineralTree to gain valuable time savings and cost efficiencies from not having to perform tedious manual tasks in the invoice-to-pay process,” said Elle Kowal, CPO at MineralTree. “By embedding real-time analytics into the platform, we are enhancing our customers’ visibility and control over their AP processes, and providing valuable, actionable insights.”
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