Melio vs. TIS (Treasury Intelligence Solutions)

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.

Incentivized

TIS [Treasury Intelligence Solutions] is well suited for a company with multiple banking relationships in multiple countries. This can allow a treasury function to have better visibility and control over its daily cash management operations. It has very good report writing capabilities and dashboard functionality to customize a report for the end user.

Incentivized

• 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.

Incentivized

• BTM MONITOR & Payment Monitor: we have a good view of the companies' bank statements & payments current status. Error tracking and issue logs can be found easily. In case of an error the error message describes it well so that we can act alone and solve the issues in most cases without further help. Speed is particularly important at month-end closes, you cannot be without a solution.
• Payment files PAIN mapping. The Know-How of TIS and its expertise to PAIN file integration and possible options. We have not seen a case where our TIS Project Manager did not know the answer to an issue. Often it comes instantly. Sometimes they would of course investigate, but the root cause review of a technical issue is key to success here. These guys really know what they are doing.
• Support Team of TIS. They have a very fast response time. I would point it out as being the key strength of the TIS package. You will never have critical items not addressed in due time. The speed and quality of their responses to issues is how it should be. From a financial operational point of view: It's important to ensure business continuity, which they do.

Incentivized

• There should be an automatic link between vendors added with their Melio link and the same vendors that already exist in QuickBooks. As it is now, a new vendor is created when you do that and is not linked with the one that already is in QuickBooks.

Incentivized

• Improved VaR risk module to apply to cash balances exposure
• Currency risk controls - volatility forecast
• Trading platforms connectivity - hedging capabilities for SWAPtions
• Probable ripple integration to make settlemets faster versus t+2
• Compliance: not only track sanctions, payment details but get Credit Score of counterparty
• Chinease counterparties details (state banks do not share) - fraud risk depreciation
• Loans offering page
• Direct banks chats - push to send message to operator

I like the interface. I am familiar with functionality. Convenient to send ACH payments.

Incentivized

Depends on stage of the project if it will be postponed in 2023. Se la vie. Will be happy to go on.

Melio has been a very important tool in the advancement of our business. With great features, it has made payments to vendors seamless and hassle free. In terms of vendor management, account/data tracking, and scheduling of payments in advance. This has formed the base that we are still with Melio till today.

Incentivized

The main feature of usability is the outcome you get upon actions done. TIS is not complecated solution - it is rational and has most needed capabilites for cash management via multiple accounts in different jurisdictions. It works well for this task and evolutioning to the field of risk management to get all treasury job done well.

They have great customer support system

Incentivized

Offered support information in the portal (knowledge base articles) as well members of the support provides a very good service level.

Incentivized

Very educative. It was well detailed, organized and knowledgeable.

Incentivized

Very helpful and we learnt a handful

Incentivized

The training addressed our needs.

Incentivized

The cloud connection meant less work for IT. The setup of the first 1000 accounts was very quick, so we went live after only 4 months.

Melio is 100% free if you just use ACH, and that by itself would be reason enough for me to stick with the platform, it boats a ton of other useful features that add to the experience.

We have used bank applications and another large TMS provider based in the US. Our prior TMS was a full-scale system which was very robust and extremely complex. We were not using 3/4 of the functionality and we decided it made more sense to select a simpler system that met our core requirements which are connectivity and transaction & information support. TIS does this very well at a lower price point. In the end, TIS better suited our needs and was much simpler and more affordable.

The vendor is great

Incentivized

Very knowledgeable

Incentivized

• I have been able to save hours every week now that I am only using Melio as my payment processor
• I can easily add invoice details which I use to create in another platform and upload to Melio, this saves me time with projects I want to be quicker with
• The ease of use for my clients is fantastic, and makes for a seamless workflow

Incentivized

In terms of risk mitigation of course we can reduce the number of people having access to banking if not needed. With dedicated teams and less people with access to individual Bank portals. Before access to bank portals were necessary for all sorts of manual payments and exceptions if we really implement the 100% of functions and dont leave exceptions that risk mitigation can be achieved and efficiency at automated payment runs.

• At a large corporation with more than 60 entities and 400+ bank accounts, the savings and improvements are massive considering how time-consuming the manual work would be. I don't have any numbers to quote, unfortunately.
• We are now massively expanding our TIS with the full integration of automated payment runs. This has larger operational impacts, like the possible consolidation of banking and dedicated payment teams.

Incentivized