Case Study: Forge Biologics achieves AP efficiency and supports growth with MineralTree

Forge Biologics earns $80,000 in virtual card rebates with MineralTree

Forge Biologics, a biotech firm specializing in gene therapy manufacturing, faced challenges in its accounts payable process during a period of explosive growth. Its manual AP methods, reliant on paper checks and bank portal wires, were time-consuming and strained vital supplier relationships. To address this, the company sought an AP automation solution and selected MineralTree.

MineralTree implemented its AP automation platform, which integrated seamlessly with the company's existing and future accounting software. The solution streamlined invoice processing and enabled a shift to electronic payments. As a result, Forge Biologics improved efficiency, strengthened supplier relationships, and is on pace to earn $80,000 in annual cash-back rebates, which offsets the platform cost. MineralTree also saved the company from needing to hire additional AP staff.

Forge Biologics