MineralTree brings advanced AP and Payment Automation to BlueSnap

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1 MineralTree brings advanced AP and Payment Automation to BlueSnap GROWING GLOBAL BUSINESS RELIES ON MINERALTREE INVOICE-TO-PAY FOR AUTOMATION, FLEXIBILITY, AND SIMPLICITY

2 MineralTree Invoice-to-Pay has enabled us to automate our bill payment process. It was very important to us that our accounting system NetSuite had an integration feature with our provider. It makes our processing that much more seamless, and makes it an attractive offering for us. We can get more work done with fewer people. Bill Sobo, CFO, BlueSnap BlueSnap is changing the way merchants around the world accept payments, making it faster and easier to convert more shoppers into buyers. Its international payment gateway supports more than 100 payment types, dozens of currencies, and many languages. With BlueSnap, any company can accept local credit and debit cards, offer local payment options and reach any market. BlueSnap specializes in applying advanced technology to bring new efficiency to payments. In 2013, it implemented MineralTree Invoice-to-Pay to bring the same efficiency and automation to its own AP and payment process. As a leading technology company, it just doesn t make sense for us to be pushing paper and signing checks every month, says CEO Ralph Dangelmaier. Also, our team is on the go constantly, making approvals a challenge. A streamlined process, mobile payment approval, efficient processing of more than 100 invoices a month (with a total monthly payout of more than $500,000), and protection from fraud these are just some of the results that MineralTree Invoice-to-Pay delivers to BlueSnap. As the company grows and its invoice volume rises, BlueSnap is ready with MineralTree Invoice-to-Pay, a solution that s designed for efficiency today and growth tomorrow. 2

3 The Challenge: Keeping a growing company efficient searching for a new solution. We didn t want to have to do double work, says Sobo. We wanted smooth integration with NetSuite that makes our processing much more seamless and lets us get more work done with fewer people. Dangelmaier is more direct. If a solution isn t integrated with NetSuite, we BlueSnap is a fast-growing global business with the same can t use it. challenges faced by any business its size it has a long to do list, but lacks the deep resources of a larger organization. The business is growing and evolving quickly, so to stay efficient, its underlying processes need to keep pace and enable growth. Sobo also cites integration with the company s bank and ease of use by its payment processing staff as critical criteria for its new solution. We re a global operation, and we want to grow our core businesses as efficiently as possible, says Ralph Dangelmaier, CEO of BlueSnap. We saw our check volume growing so we decided we need to automate payments and check processing. The Solution: MineralTree provides efficiency, integration, and room for growth The Search: Finding an integrated solution In 2014, BlueSnap selected MineralTree Invoice-to-Pay for Accounts Payable (AP) and payment automation. Automation is When I joined BlueSnap, we had all of these manual processes in place, recalls Bill Sobo, CFO and global head of risk for BlueSnap. I knew that staying with the manual approach wasn t the future, says Dangelmaier. It s perfect for us and any other business that wants to automate its check processing and stop pushing paper every week or month. really what we wanted to do. We wanted to move into the 21st century in terms of paying our vendors. And so we began to look around at different solution providers. Another key factor in selecting MineralTree Invoice-to-Pay was its ability to deal with a mobile workforce. For a team that s always on the go, MineralTree Invoice-to-Pay lets our people Seamless integration with NetSuite, its current accounting system, was one of the key requirements when BlueSnap began approve invoices and checks online without having to be in the office, or deal with paper, says Dangelmaier. Now we can 3

4 sign and approve checks anywhere on the road and even when we re traveling internationally. That s an incredible improvement or waiting for approvals, says Sobo. As a CFO, It s really a dramatic improvement in how I choose to spend my time. over our previous way of working. That efficiency continues throughout Sobo s team. We have a And finally, seamless NetSuite integration was a deciding factor in selecting MineralTree Invoice-to-Pay. We ultimately settled on MineralTree Invoice-to-Pay because it had the best solution that met all of our needs, says Sobo. From streamlined processing to simple integration with NetSuite, our bank, and small accounting staff here in Massachusetts, and three people out in California who use MineralTree Invoice-to-Pay as well. Sobo says. MineralTree Invoice-to-Pay enables our bicoastal accounting setup to work very smoothly. It also allows BlueSnap staff to spend more time on strategic, value-added work. other systems. MineralTree Invoice-to-Pay s ease of use ensures quick The Benefits: Flexibility, time savings, happy vendors adoption and effortless use by anyone on Sobo s team. The user interface is one of the things I like about MineralTree Invoice-to-Pay, says Sobo. It s very clean and straight-forward eliminating the need for training, which is really nice. I was able to do my part of the payment processing with little or no Now MineralTree brings AP and payment automation to guidance, which was very attractive. BlueSnap along with a list of benefits. As CFO, the biggest benefit I get from MineralTree Invoice-to-Pay is flexibility, says Sobo. I don t have to be in the office to process payments anymore. All my communications can be web-based, and mobile so MineralTree Invoice-to-Pay gives me the freedom and flexibility to take care of this part of my job when I choose to do it. And finally, MineralTree Invoice-to-Pay helps BlueSnap maintain good relationships with its vendor community. Before MineralTree Invoice-to-Pay, I would come into my office two days a week and see a pile of checks that I would have to review and sign, says Sobo. If I was traveling, and I often was, those checks would sit and vendor payments would be The time savings created by MineralTree Invoice-to-Pay are important to BlueSnap executives, who have more strategic delayed. As a result, we d have unhappy vendors. Now that s no longer a problem. Our vendors are happy. work to do, beyond dealing with payments. With MineralTree Invoice-to-Pay, I don t have to spend time sorting through paper checks, losing items that are shipped from one coast to another, 4

5 The Bottom Line: Why choose MineralTree Invoice-to-Pay? The reasons BlueSnap chose MineralTree Invoiceto-Pay are clear. MineralTree delivers advanced AP and payment automation that boosts efficiency, replacing a manual, paper-based process with an efficient, web-based solution. MineralTree Invoice-to-Pay integrates seamlessly with NetSuite, becoming a vital part of its core processes. And looking to the future, MineralTree Invoice-to-Pay keeps the company ready for growth. With MineralTree Invoice-to-Pay, we can scale our business, says Sobo. As we grow over the next five to ten years, we re comfortable that MineralTree will be able to grow with us. And we re not going to have to spend incremental time on AP and payment processing as our volume grows. MineralTree Invoice-to-Pay is perfect for any growing business that wants to automate all of its check processing today, and that wants to grow in the future, says Dangelmaier. There are a lot of companies that view themselves as small businesses, and they may not think they can afford an advanced AP and payment solution like MineralTree Invoice-to-Pay one that s automated, web-based, and easy to use. But if a company is cutting 25 checks or more a month, then they should look at MineralTree Invoice-to-Pay. It s a real time-saver for everyone from accountants to senior financial officers. Your payments will be more accurate and secure. And the whole process will be more automated and easier for everyone. Take the Next Step FOR MORE INFORMATION ABOUT HOW MINERALTREE INVOICE-TO-PAY CAN HELP YOUR GROWING BUSINESS STREAMLINE ALL ASPECTS OF BUSINESS PAYMENTS, CALL US TODAY AT OR [email protected] Dangelmaier and Sobo see MineralTree Invoiceto-Pay as an important efficiency-boosting solution for growing companies, a group with needs that aren t met by other offerings. MTBS