Modern Treasury

Avantages

The system is well thought out. The Payments, Ledgers, and Reconciliation products work very well together and we get a lot of value from them. The MT team is very responsive and provides excellent support. They are also responsive to feedback.

Inconvénients

We have encountered a few bugs which have had a negative impact on us. However, occasional bugs are to be expected with any software, and the MT team has generally resolved the issues in a timely manner.

Alternatives envisagées 

Pourquoi passer à Modern Treasury

Avantages

I love the feature of being able to see incoming payments and returns even when they are in the pending status. Love how all the reports are so clear and easy to understand.

Inconvénients

There’s nothing that I don’t like about MT. It’s been an amazing experience so far.

Avantages

They are very responsive when there is an issue and we are able to quickly resolve them. The team is great to work with.

Inconvénients

we are using them in a different than most of their customers so some of the flows do not work the way we need them to making us create a unique integration.

Avantages

I thought the API and uptime, for the most part, was well designed. It abstracted away implementation details, for the most part, which made things fairly easy to navigate.

Inconvénients

I often think of Modern Treasury as an API company but not a UI company. The APIs were quite good, however the user interface had numerous bugs or design flaws (in my opinion). One recent example: reversing a large ledger transaction displays various UI errors however clicking create still works!

Avantages

Generally solid support, responsive and takes care of a lot of trouble for us.

Inconvénients

Flat fee -- for a small volume compay like us, we don't hit the minimum fee with our volume.

Avantages

MT has robust and well documented APIs and a product team that is hungry to understand the needs and problems of their customers. MT has always been incredibly collaborative with us as we have built our payments, reconciliation and ledgers infrastructure to ensure we're doing so in a scalable way that best leverages the capability of the MT platform.

Inconvénients

N/A although I do wish there was a way to link accounts you don't want payments and reporting for via plaid so you can truly have all your accounts in one place, even if just to know balance.

Avantages

The UI is fantastic. Also it makes money movement very simple and it displays all of the necessary information without overcomplicating things.

Inconvénients

Does not integrate with ERP systems and can get expensive quickly.

Avantages

The software's user-friendly interface makes managing payments and reconciling accounts a breeze. Its automation features have saved us many hours, significantly reducing manual errors and improving our overall efficiency. Customer service is also top notch.

Inconvénients

Reconciling checks to EPs can be difficult. Unable to un-reconcile a check and inability to reconcile multiple EPs to one check, or one EP to multiple checks.

Avantages

It helps me have a extremely accurate ledger

Inconvénients

The reliance on our bank partner's docs to help Modern Treasury make the appropriate changes to their processes can be frustrating, as its out of our hands.

Avantages

Makes banking simple by creating a simple interface.

Inconvénients

There have been recent changes to the setup pages that create more steps in my payment work flows.

Avantages

Modern Treasury's team is supportive and responsive. They take a lot of interest in their customer's success which ensures smooth implementation and prompt support.

Inconvénients

I did not find anything to dislike. If there was ever anything that Modern Treasury could not do for us, it was because our request was out of their scope and roadmap.