MineralTree CEO Micah Remley talks about how automation is necessary for success in scaling a business, and how MineralTree is prioritizing “the long-term benefits of automation” during its own rapid growth period.
Paying suppliers can be a major pain point for any business — especially in the age of COVID and remote work requirements. Add in international suppliers that send invoices in different currencies and want to be paid accordingly, and you have an even stickier problem.
The COVID-19 pandemic has caused many businesses to reconsider how they buy and sell goods and services. While digitization efforts have been accelerated by many firms, small businesses have been slow to confront accounts payable (AP) automation. When it comes to AP automation, larger, enterprise-level businesses continue to lead the way.
According to Buckley, MineralTree’s growth has meant multiple opportunities for her to take on roles and responsibilities that suit her long-term goals without having 100 percent of the background experience typically necessary. At MineralTree, she said she’s been empowered to learn on the job and take advantage of the company’s peer-to-peer mentorship culture.
The Boston tech scene is once again on the up and up.
According to the research group and accelerator Startup Genome’s “2020 Global Startup Ecosystem Report,” the city was ranked as the fifth-best city in the world for tech startups. The report also stated that Boston’s tech ecosystem is valued at approximately $96 billion.
“The COVID-19 pandemic exposed the huge inefficiencies in many firms’ paper-based financial processes. [Vijay] Ramnathan and MineralTree expect businesses to build on those digitization efforts to do a lot more than replace paper checks. He believes the following 5 trends will change business’s payment processes and the finance teams that manage them in 2021.”
