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.
Return on Investment
- Using Melio has had a noticeable impact on your business in terms of time savings, cost efficiency, and improved cash flow management.
- Before Melio, we spent several hours and time writing checks manually but right now we have reduced the time consumption by at least 50% now focusing on more important things to grow the business.
- The ability to schedule payments and pay by credit cards, even with vendors that have check as their payment option has helped us running the operation smoothly during cash flow gap.
- On this one, I would say Melio has saved us a few dollars. From a cost standpoint, the fact that the ACH transfers are charged free has saved us up to $100 -$200 per month that we do spend on stamps, checkbooks, and courier fees.
Usability
Alternatives Considered
QuickBooks Online and Bill & Pay
Other Software Used
Intuit Online Payroll (discontinued), Quickbooks Payments & Banking, Bill & Pay


