Strong ranking driven by continued product innovation, outstanding business execution, and acceleration of the AP and payment automation market
Waltham, MA, August 19, 2021 – MineralTree, an Accounts Payable (AP) and payment automation solution provider, made Inc. magazine’s annual Inc. 5000 list, the ranking of the nation’s fastest-growing private companies. The 2021 list represents a unique look at the most successful companies within the American economy’s most dynamic segment—independent small businesses. MineralTree ranked #846 among the 5000 private companies on the list.
There were several important distinctions for MineralTree in this year’s Inc. 5000 list:
- The fastest-growing AP and payments automation solution provider;
- One of 28 Massachusetts software companies, and;
- The 6th fastest-growing Massachusetts software company.
Business adoption of AP and payments automation has accelerated dramatically in recent years as more and more businesses look to take advantage of its substantial operational efficiencies and direct cost savings. The pandemic also contributed to this growth as businesses of all sizes dealt with the challenges of remote work requirements and manual, paper-based business processes. In a recent survey conducted by MineralTree, AP was the number one back-office digitization priority for businesses. In the same survey, businesses also reported a strong increase in the use of digital payment methods and their intent to make even more digital payments in 2022.
MineralTree is focused on making the process of business payments easy, impactful, and profitable. Its solutions combine ease of use with robust payment automation capabilities that drive meaningful insights and transform the back office into a strategic partner of the corner office.
“As businesses look to digitize their operations to compete more effectively, core financial processes like AP are coming to the fore as key opportunities to drive big efficiencies and savings,” said MineralTree Chief Executive Officer, Micah Remley. “We’ve been able to capitalize on that opportunity by delivering outstanding AP and payable automation solutions and services to our clients in middle-market and enterprise organizations. COVID and remote work requirements have helped propel the market, but our success is mostly a result of the innovation and hard work of our team. They’ve risen to the challenge in a very tough environment and positioned MineralTree for continued acceleration and success.”
Complete results of the Inc. 5000, including company profiles and an interactive database that can be sorted by industry, region, and other criteria, can be found at www.inc.com/inc5000.
“The 2021 Inc. 5000 list feels like one of the most important rosters of companies ever compiled,” says Scott Omelianuk, Editor-in-Chief of Inc. “Building one of the fastest-growing companies in America in any year is a remarkable achievement. Building one in the crisis we’ve lived through is just plain amazing. This kind of accomplishment comes with hard work, smart pivots, great leadership, and the help of a whole lot of people.”
The Inc. 5000 Methodology
Companies on the 2021 Inc. 5000 are ranked according to percentage revenue growth from 2017 to 2020. To qualify, companies must have been founded and generating revenue by March 31, 2017. They must be U.S.-based, privately held, for-profit, and independent—not subsidiaries or divisions of other companies—as of December 31, 2020.
MineralTree provides modern, secure, easy-to-use, end-to-end Accounts Payable (AP) Automation solutions that reduce costs by more than 75%, increase visibility and control, and mitigate fraud and risk, while improving cash flow. More than 3,000 companies and financial institutions, from the mid-market to the Fortune 500, rely on MineralTree to digitize and optimize the entire AP Automation and Payment process. As a result, they are able to preserve control over the complete invoice-to-payment workflow, improve vendor relationships, maximize ROI, and transform the finance function from a cost center to a profit center. Learn more at https://www.mineraltree.com.
for MineralTree, Inc.