Item: Melio
Rating: 8
Author: Blessing Chimezie

Overall Satisfaction 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 and Cons

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

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.

Alternatives Considered

QuickBooks Online and Bill & Pay

1. One thing I like about Melio is the free version for small businesses or individuals or soleprenuels .
2. Melio offers free bank to bank payments on all plans, even the free version unlike other competitors.
3. You can pay vendors with credit cards even if they don't accept cards and will receive a bank deposit or check.
4. Simple, modern interface; Melio has intuitive and easy to use dashboard, which makes onboarding quick, even with people with little account knowledge.
5. Paper checks mailing service, this is a very important benefit you get for using Melio. Melio prints and mails physical check on your behalf. This has bridged the gap for business with traditional suppliers, which many app competitors don't support very well.

Key Insights

Do you think Melio delivers good value for the price?

Yes

Are you happy with Melio's feature set?

Yes

Did Melio live up to sales and marketing promises?

Yes

Did implementation of Melio go as expected?

Yes

Would you buy Melio again?

Yes

Other Software Used

Intuit Online Payroll (discontinued), Quickbooks Payments & Banking, Bill & Pay

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.

Melio Feature Ratings

Using Melio

Users and Roles

50 - Vendors and staff

Support Headcount Required

10 - Marketers, companies and businesses, information Technology

Business Processes Supported

Vendor Payments [ACG] credit card, check
Payments scheduling automation
Quick books integration for easy reconciliation
Team collaboration with approval workflow

Innovative Uses

Paying freelancers and contractors who prefer checks
Using credit card payments for non-card accepting vendors
Streamlining end-of-the-month financial review
Last minute payment via mobile

Future Planned Uses

Managing recurring payments with out a subscription system
Scaling with more team members and approval workflows
Automating 1099 preparation with vendor compliance
Using Melio for international payment as we expand and work with international freelancers and contractors

Likelihood to Renew

It has solved almost all the business needs I have and has contributed greatly to my business growth.

Evaluating Melio and Competitors

Products Replaced

Not Sure

Key Differentiators

Scalability
Integration with Other Systems
Ease of Use

Integration with other platforms has made it worth using. Also, the ease of use, you don't have to be tech savvy to use Melio.

Evaluation Lessons Learned

I think I will still believe in it and use it for all my transactions and payments.

Melio Implementation

Implementation Rating

Implementation Details / Implementation Partner

Implemented in-house
Third-party professional services

Wouldn't want to disclose

It was hard at first but went well as we continue
Takes much time

Melio Training

Training Types Used

Online Training
In-Person Training

In-Person Training

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

Online Training

Very helpful and we learnt a handful

Melio Support

Support Rating

They have great customer support system

Melio Customer Support Pros and Cons

Pros	Cons
Quick Resolution Good followup Knowledgeable team Problems get solved Kept well informed No escalation required Immediate help available Support understands my problem Support cares about my success	None