Myro’s research and development efforts involve the purchase of a variety of lab supplies and reagents. As a newly formed biotech company, Myro was looking for an Accounts Payable (AP) system to avoid the processes of manual invoice input, PO matching, invoice and payment approval, and free up its staff.

MineralTree’s Total AP system combines sophisticated workflow automation and ease of use to enable both its scientific and finance teams to work more efficiently.

With MineralTree’s TotalAP solution Myro will be able to automate its payment workflows and streamline the entire invoice-to-pay process. Supplier invoices will come into Myro’s procurement system to be matched with corresponding purchase orders, sync into its QuickBooks accounting system, and then sync into MineralTree. From there invoices will be automatically routed to the right individuals for approval and payments will be dispersed via the supplier’s preferred method, including virtual card, ACH, or check. Once a payment is made, MineralTree automatically updates QuickBooks to streamline reconciliation.