New Report Shows the Average Organization Only Processes 64% of their Invoices Electronically

Accounts Payable Workflow, Reports & Surveys

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…

Managing Accounts Payable for a Distributed Workforce

Accounts Payable Workflow

Remote working is not limited to startups anymore. Companies of all sizes are now seeing the benefits of flexible employee working arrangements. As of 2016, 43% of Americans surveyed say they spent at least some time working remotely last year, according to a recent Gallup survey. Why are companies going remote? There’s actually a long list…

The Biggest Barrier to Entry for Electronic B2B Payments in the US

ePayments

Accounting teams across North America rely too heavily on paper checks as their primary form of payment to vendors. Not only does check processing involve plenty of manual work, but at high volumes check runs can be a large drain on a company’s resources and time. Electronic payments are a much-needed alternative to checks, but…

Bringing Accounting Innovation to the Hospitality Sector

Accounts Payable Automation, Hospitality

Managers in the hospitality industry have so many competing demands on their time and attention, that it’s difficult to see where process inefficiencies exist. One area that often goes overlooked is the accounting department, a reliable mainstay in every hospitality business. Whether your accounting operations are centralized at a head office, or you have an…

Making Data-Driven Financial Decisions for your Business with Accounts Payable Automation

Accounts Payable Automation, Finance Executives

Does your accounting team fill a strategic role at your company? From a survey of business leaders in the UK, over one-third (34%) of those surveyed feel that their accounting departments are undervalued and underutilized. At the same time, 82% of CFOs are keen to adopt cloud applications as a way to move their businesses…

Beanworks CEO Catherine Dahl Receives Startup Canada BC Regional Award

News & Updates

The results of the fourth annual Startup Canada Awards were recently announced in regional ceremonies across the country. Beanworks CEO Catherine Dahl took home the Woman Entrepreneurship Award, presented by Business Development Bank of Canada (BDC), as one of the 2017 BC Regional Winners. This year’s regional awards list for BC included nine entrepreneurs and…

How to Combat Payment Fraud with Accounts Payable Automation

ePayments, Fraud Mitigation

This past August, accounts payable staff at MacEwan University in Edmonton made a simple change to vendor banking information that ended up costing the university $11.8 million. In June, an email was sent to MacEwan staff from what appeared to be a known vendor, Clark Builders, which had been working with MacEwan on various construction…

Beanworks Named to BIV’s Top 100 Fastest Growing Companies List

News & Updates

Each year Business in Vancouver compiles a list of the 100 fastest growing companies in British Columbia. This year’s list, published in August, includes a stellar line-up of both list veterans and new entrants. Beanworks is proud to have entered the list for the first time this year, ranking as the twelfth fastest growing company…