Powering Smarter Payments with Melio
Use Cases and Deployment Scope
Melio is an online account app that is used by small and big businesses for a payment solution.
Melio is used by my company primarily for the management and processing of business payments to vendors and our service providers. We use it to schedule, send and track payments from our business bank account.
Melio has really come a long way to relieve our company of some manual duties. It made processing of payment easy and hassle free. The writing of checks, tracking due dates in spreadsheets and jumping between banking platforms and email communication has been tackled. We can now scheduled payments in advance, automate reminders and view payment history in one place. This has helped improve our cash flow management and reduced the chances of late payments.
One of the major problems Melio has solved for us [company] is the inefficiency in handling accounts payable and it has eliminated the need for physical paperwork, reduces the administrative burden and then increases the transparency in our finance operations. For example, adding team members with different roles and permissions is a valuable feature, you can add individuals payroll.
The scope of our use case involves paying, vendors, contractors and recurring bills.
Pros
- The simplicity it adds to business payments is a great deal. One feature we really value it the ability to pay vendors by check. Melio prints and mails checks for us which saves time and hassle.
- Payment scheduling tool is another thing we enjoy. This tool lets us plan ahead and manage cash flow more effectively by setting payment dates in advance.
- Another thing Melio does well is the tracking of payment.
- There was a time a vendor claimed that they hadn't been paid, but with just a few clicks we could see the check has already been delivered.
- This kind of transparency gives us confident and keep things professional.
- The integration with other platform or accounts like QuickBooks is an experience I did love to keep.
Cons
- I don't think there is anything that doesn't have its Pros and Cons even we as human have pros and cons.
- One thing is the delivery time for mailed checks can sometimes be slow or unpredictable.
- Another area that should be improved is the notifications. The alerts for failed payments or delays are not always clear or timely.
- We love to see more robust mobile functionality.
Likelihood to Recommend
In my personal experiences, I would recommend Melio to a friend or colleague but would tell them the pros and the con.
Melio has really made payments seem seamless and easy.
The fact that one can plan his/her payment schedule in advance and at the same time track it, is a very big relief.
In as much as Melio has a lot of good features but it still needs upgrade or update, like the notifications of failed payments and delays.
