MineralTree now offers analytics for AP health

MineralTree, which makes accounts payable and payments automation software for businesses, has added an integrated analytics and interactive visualization tool to its software platform.

The module is designed to give insights into AP workflows, payments optimization, cash flow and security, and is available immediately to all MineralTree Invoice-to-Pay users.

A 2020 survey conducted by Grant Thornton found that 78% of CFOs want quick access to the right data to support their decision making. The need is no doubt partly boosted by the effects of the coronavirus pandemic. There are also traditional challenges to aggregating data from multiple systems and then presenting it in a way that facilitates immediate understanding and action. This demand has spurred companies like MineralTree to offer analytics capabilities.

The real-time dashboards in MineralTree Analytics track metrics such as invoice aging, discounts, rebates earned and payment mix.

“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, chief product officer at MineralTree in a statement. “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.”