Seamless ERP Integration
Take your ERP to the next level with our AP Automation Solution
What is ERP Integration?
ERP integration in the context of AP automation software refers to the software connections necessary to ensure that data can flow between MineralTree and your ERP system. Two-way integration ensures that the ERP system remains the system of record for all accounting debits and credits after invoices are posted.
Why Companies Still Need End-to-End Automation
While accounting systems may provide a level of automation, end-to-end AP automation is only possible with dedicated software, such as MineralTree, that automates your AP workflow from invoice capture to payment execution. With MineralTree TotalAP, the way you currently manage your ERP doesn’t change. It continues to serve as your system of record while MineralTree enables:
- Automated invoice capture with up to 99.5% accuracy
- Advanced approval workflows configurable to your department needs
- Payment execution directly from your bank account
- One workflow, regardless of payment method
- Improved visibility into the payment process for suppliers
Benefits of Integrating an AP Automation Solution with Your ERP System
There are numerous benefits to integrating your ERP solution with MineralTree TotalAP. These include the following:
Automate the Entire End-to-End AP Process
Although some ERPs offer automation, there is often a gap when automating the end-to-end AP process. ERP approval permissions are not available to every employee by design, making it difficult to automate specific steps such as invoice approvals. Even with the proper access, they can be difficult to access for invoice approvals, especially remotely. With MineralTree, you can automate all of these steps, without having to give the entire organization ERP approval credentials. Approvers can check and validate invoices directly from their email inbox in one easy workflow.
Full Visibility into Pending Invoices
Typically, only once an invoice is coded and approved will it be posted to the ERP, making the data actionable. That means your team has limited visibility into pending invoices stuck in approval queues and their impact on cash flow. A dedicated AP automation solution, such as MineralTree, will allow you to see all invoices and what’s coming, as they are captured. This allows your team to use invoice data for purposes such as financial forecasting or accruals, before it’s actually posted to the system.
Make the Invoice Approval Process Easy
Approvers don’t need special ERP approval credentials to validate invoice payments and can do so via their email or in MineralTree with unlimited user accounts. They don’t need to learn or navigate a complicated ERP interface. Additionally, reminders to approve invoices are sent automatically via the MineralTree solution, reducing time spent by the AP team in following up.
Improve Visibility and Vendor Relationships
71% of AP teams noted that vendor relationships have become more strategic over the past year. With MineralTree, you can easily discover the payment status of each invoice to answer questions from suppliers. Additionally, with our supplier portal, vendors can also easily access this information, freeing up time for employees and improving your relationships with suppliers.
Benefit from a Single Payment Module
With ERPs, finance teams must integrate each mode of payment separately. They work with one bank integration for printing checks and a separate bank for ACH. MineralTree offers a single payments module and one workflow, no matter the preferred payment type.
Achieve 99.5% Accurate Invoice Capture
Although many ERP systems also provide invoice capture, MineralTree’s OCR technology paired with human review, ensures this part of the process is more accurate. In fact, MineralTree is able to capture individual items on the invoice and achieves a 99.5% accuracy on invoice data.
Support a Hybrid Work Environment
Because we have multiple ways of capturing invoices, you can get 100% of your invoices captured and coded electronically. Additionally, invoices can be approved and coded anytime and anywhere.
Your ERP Remains the System of Record
Your team has invested in an ERP system to have a system of record for accounting. No matter your ERP, MineralTree can seamlessly integrate with your ERP, so it can remain the system of truth.
Scale without Adding Headcount
40% of teams noted that the team’s capacity to enroll vendors was a big challenge in setting up epayments. 57% also noted that supplier’s willingness to accept electronic payments remained an obstacle. Most of those surveyed also noted that managing and enrolling vendors was their biggest pain point in the supplier management process.
MineralTree has a team that helps enroll strategic vendors into virtual cards, allowing your company to benefit from cash back rebates and early-pay discounts. Our database will also highlight which of your vendors are already enrolled for these kinds of payments. The MineralTree team is comparable to staff augmentation for your AP team. You can scale up the amount of invoices processed and electronic payments made without adding headcount.
Popular ERP Integrations
Companies are integrating accounts payable automation software with their existing accounting system (ERP) to get AP workflows completed smarter, faster, and better. Synchronization ensures that every data point, every transaction, every approval, and every payment syncs with your accounting system and bank.
More From Our Amazing Clients
MineralTree clearly demonstrated that it could integrate with NetSuite and stood out from some of the other solutions we looked at.
MineralTree offered proven APIs to both QuickBooks and NetSuite, so we knew we wouldn’t waste a lot of time and effort reconnecting the systems once we made the switch.
I loved the fact that MineralTree provided a two-way sync with QuickBooks. We also thought its invoice capture capabilities combining OCR technology and human review would offer superior accuracy.
One of the best aspects of MineralTree is how well it speaks to NetSuite. The bidirectional sync is a tremendous help because as we’re working in MineralTree, the changes we’re making are updated in NetSuite, and vice versa.
Integration FAQs
What is an accounting system?
Accounting systems gather important business and financial data such as transactions and expenses. These systems help companies create reports so executives can make better business decisions. Popular accounting systems include Oracle Netsuite and Intuit Quickbooks.
What accounting systems does MineralTree work with?
MineralTree can integrate with hundreds of the leading ERPs and Accounting Systems, whether you’re a growing business, non-profit, or large enterprise. Here are just a few of the many ERPs we support: Oracle (NetSuite, E-Business Suite, and Fusion Cloud ERP), Intuit Quickbooks, Xero, SAP ECC6, Microsoft Great Plains, Sage Intacct, and many more.
How does MineralTree integrate with my ERP system?
There are two ways for MineralTree to integrate with your ERP system:
APIs: An API helps you capture things from an invoice and map it to a similar field on the ERP side.
Use of file data exchange: A FDE exports some of the relevant information (vendor file, any new invoices/ expenses that have incurred), imports it into MineralTree, and exports data into a flat file.
No matter your ERP system, MineralTree’s team will partner closely with your business to ensure a smooth integration. MineralTree’s implementation typically does not require additional IT resources.
What are the ways an ERP system integrates into an automation platform?
ERPs can be integrated with supporting software (including AP automation platforms) using open application programming interfaces (APIs) to synchronize data between the two systems. ERP vendors may provide APIs with documentation to enable a direct connection with 3rd-party software. ERPs can also be integrated using flat-file transfer–literally exporting the data into a structured document that can be machine-read by 3rd-party software, manipulated, and then imported back into the ERP once processed
How long does it take to implement MineralTree TotalAP?
We have seen a full implementation take as little as 12 days.
Doesn’t my Accounting System automate the Accounts Payable Process?
No. Not in the comprehensive, seamless way that MineralTree does. Your accounting system may support invoice and payment approval workflows, but configuring and managing them is time-consuming and expensive. You may be able to record different payment types – but only after following different processes, with different controls, to make each type of payment. And after that, you still have to transmit those payments to the bank.
Will using MineralTree require changes to my approval workflows and payment processes?
No. MineralTree is flexible, so you maintain your current processes. For example, if you approve invoices before entering them into your accounting software, our solution can too. If you require dual approval on payments above a certain threshold, or different routing rules for certain vendors, that works too. With MineralTree, we match your current approval workflows and payment process.
What are the challenges associated with ERP integration?
There are several challenges, as not all integrations are created equally. Businesses looking into adding AP automation to their ERP may want to know if the integration supports two-way communication, how often/how quickly data is synchronized and refreshed between the two systems, and whether the integration supports all of their requirements (i.e. custom fields, multi-entity or multi-subsidiary support, or multi-currency support for invoices denominated in foreigh currencies are just a few examples.)
We are currently planning or implementing a new ERP system. Is it too soon to think about AP automation or should we wait until after migration is complete?
If you’re in the midst of an ERP migration project and unsure about current or future AP automation needs, it doesn’t hurt to ask questions of potential solution providers. Depending on your current environment and choice of ERP, migration may take anywhere from a few months to a year or more. It may make sense to automate AP sooner rather than later and start realizing the benefits within your current platform, but only if your solution partner can support both environments and your migration plan. MineralTree provides Implementation resources that can help you determine the right approach, and can also provide a sandbox environment to test integration before your new ERP goes live.
Calculate your ROI
One of the biggest decisions is spending valuable budget on a solution you think might be a great fit for you. Try our ROI calculator and see just how quickly you can benefit from our end-to-end solution.
Interested in learning more?
We'd love to connect! Book a demo to get in contact with one of our knowledgeable reps.
