Beanworks Blog
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ePayments
Empower AP with Real-Time Vendor Payment Updates
With Beanworks AP automation, companies can look up the status of vendor payments anytime and from anywhere. By automating AP, all documents are stored in real-time and accessible from the cloud, making visibility and transparency a guarantee.
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Expense Management
Why Automated Expenses Work Better for Employees
Work-related travel and entertainment is back on the agenda, meaning that the time early in the pandemic when fewer expenses claims were filed is coming to an end. Businesses need to be ready to process expenses in a way that enables them to adjust to this new, agile working model.
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Accounting Software
From Wellbeing to Digital Dexterity, Here’s What’s on the CFO’s Agenda for a Post-COVID World
The time to develop long-term strategies to take advantage of the predicted COVID-19 economic rebound has arrived – and according to research, the financial industry is set for major transformations.
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Cloud Accounting
What Hybrid Work Means for Finance Teams
The accounting industry is on pace to make the transition towards the cloud. 42% of finance leaders say COVID-19 increased their company’s pace of AI adoption, and another 84% mention that automation helped them significantly during the pandemic.
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Customer Stories
“Paper invoices were getting lost” – How Cincinnati Symphony Orchestra Modernized Accounts Payable
Last year, the CSO celebrated its 125th anniversary bringing world-class musical productions to audiences both domestically and internationally. Yet as the organization continued to expand, the need to modernize became critical.
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Future of Accounting
Four Skills All Accounting Professionals Need in a Post-Pandemic World
One in three businesses are struggling to find skilled talent. In a recent report, 96% of finance leaders said it’s very or somewhat challenging for their company to find skilled professionals right now.
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Risk
Watch Out Business Owners: Accounting Scandals Are Getting More Sophisticated
For too long, businesses have held auditors responsible for finding financial red flags. But with only 4% of fraud cases being detected by auditors, it may be time for organizations to shift gears and focus on internal controls instead.
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AP Automation
Beyond Manual Data Entry – How AI is Giving Accountants More Time Back
The latest addition to this AI-backed feature-set is a tool called Line Item Capture, which further simplifies invoice data entry by extracting line item information, such as descriptions, unit costs, and quantities with 99%+ accuracy.
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Accounts Payable
How To Perform a Health Check On Your Accounts Payable
Research has found that following up on invoices is a lengthy process, which can take up to 20% of a typical AP clerk’s time. Calculating exactly how much time your business spends on approvals can help you identify bottlenecks slowing you down.
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Customer Stories
“We don’t keep physical invoices in the office anymore” – How U-Pak’s AP Team Went Digital With Beanworks
U-Pak decided it was time to modernize their accounts payable (AP) system to make invoice processing more streamlined. By digitizing their filing cabinet, the team can access invoices at any time from any location.
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Risk
When Crisis Strikes, Resilient AP Systems Are Crucial
While the pandemic has accelerated the need for businesses to prepare for uncertainty, arming your AP team with the right technology ensures your finances are a lot more secure.
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ePayments
How To Choose The Right Payment Method For Your Business
There are now many different payment methods to choose from. How do you find the one which is best for your company?
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Customer Stories
How America’s “Best Small Airport” Took Off With Beanworks AP Automation
As Huntsville has continued to attract a highly-skilled workforce, it became apparent for HSV to help their accounts payable (AP) team transition from a manual, outdated system, to a more dynamic model.
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AP Automation
5 Signs You’ve Outgrown Your Accounts Payable Process – and What to Do Next
For accountants, getting an invoice approved on time or paying vendors before a looming deadline is always a clear win – but for most finance teams, the reality isn’t that simple. Here are five signs to check whether or not your AP process is working for your business.
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Customer Stories
How One Construction Company Freed Up 75% of Their Bookkeeper’s Time
A majority of Cook Bonner Ebeling Construction's staff works from different sites 90% of their time. In the past, managers mostly visited the office to code invoices. Now, they can just do it on their iPad.
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