Automation is one of today’s mega trends affecting workforces globally. As a finance leader, it’s important to understand what automation can mean for your department and bottom line. The accounts payable (AP) function in particular has traditionally been slow, manual, and paper-based. From entering and coding invoices to circulating documents for approval and paying vendors,…
Start Managing Multiple Entities in Your Accounts Payable Solution
When does multi-entity accounting become a necessity for an organization? Multi-entity accounting practices predominantly apply to complex businesses that operate as a conglomerate, parent company or holding company with several subsidiaries. But even businesses that operate as a single entity may have regional offices or segmented departments that are treated as separate entities by the…
Beanworks Champions Gender Diversity As Strategy for Business Growth
Vancouver, BC – September 18, 2018 – Beanworks, an accounts payable (AP) automation company is charting a path of leadership in the fintech industry by championing a culture of diversity and inclusion. They are pleased to announce the closing of a $10.1 million Series B funding round. Beanworks CEO, Catherine Dahl, credits her company’s inclusive…
Beanworks Teams with NetSuite to Give Customers Delightful Accounts Payable Automation
Vancouver-based accounting software company, Beanworks, has boosted its offering for clients by incorporating the NetSuite systems into its lineup of financial system integrations. NetSuite ERP has built its reputation on helping organizations manage their finances from end-to-end. As this has been one of Beanworks goals as well it seemed like a natural fit. What is…
Beanworks Launches QuickBooks ProAdvisor Partner Program
Today our team is excited to announce our QuickBooks ProAdvisor Partner Program! Folks have asked, have waited – and it’s finally here! Wanting to do this just right, we took our time to connect with our current partners and many QuickBooks ProAdvisors to see what mattered most to them when partnering with an app. This information helped…
Why Accounting Firms Need to Look Ahead to the Digital Future
Accounting software company Xero recently released its report on the digital accounting renaissance, and their findings suggest that for most businesses, going digital will soon be the only way forward. In their survey, “Digital or Die: The Accounting Renaissance,” more than 670 accountants and 1,000 small and medium enterprise (SME) owners were asked about their…
Lexington Country Club Streamlines their Accounts Payable Process and Approvals with Beanworks
Lexington Country Club is a private gated community located in southwest Florida, just a short drive away from sandy white beaches on the Gulf of Mexico and from the business and entertainment districts of Fort Myers. With more than 1400 residents living on the club grounds, staff at the club are kept very busy and…
Make Sure Your Hospitality Accounting Processes Have Room to Grow
In the hospitality sector, accounting roles in the financial back office are changing. With new technologies like automation, AI, and machine learning, manual processes are being increasingly managed through technological solutions. Soon, tasks like data entry and data processing will be handled entirely by software, rather than hospitality accounting staff, and already, many hotels, clubs…
Virtual Credit Cards Are the Modern Day Early Payment Discount
Early payment discounts are a time-honored tradition in business-to-business (B2B) transactions. Suppliers who offer these types of discounts win by getting paid faster, thereby improving their cash flow, and companies that are able to take advantage of these discounts get the cost savings. But are early payment discounts really the best way for businesses to…
New Report Shows the Average Organization Only Processes 64% of their Invoices Electronically
In a survey released by APEX Analytix last month, 170 companies answered questions about their specific accounts payable (AP) policies and practices. The Financial Leaders’ Benchmarking Report shared insights into how much AP has transformed globally in the last few years, and where it may be headed. First touching on invoice processing, the report showed…