Beanworks Selected From CIX Early 20 to Represent Canada at the 2021 Startup World Cup
Reading time: 2 minutes
The results are in from the Startup World Cup and Beanworks has won the award for one of Canada’s Most Innovative Tech Companies for 2020. By winning the regional this year at CIX, Beanworks has the honor of now representing all of Canada at the world finals in San Francisco in May 2021.
Earlier this year, Canadian Innovation Exchange (CIX) announced Beanworks as the top 20 innovative startup in Canada. Over 120 judges reviewed 500+ applications to reveal 30 winners in two categories – CIX Top 20 Early and CIX Top 10 Growth. The winners gave a virtual presentation describing their success and how their innovation is disruptive to delegates across Canada. A panel of judges from Startup World Cup reviewed these presentations to select one company to compete with 60+ startups from around the world. Beanworks was selected as the winning company to represent Canada at the annual conference.
“I am proud of the Beanworks team. We have worked very hard for many years to bring automation to the world of accounting,” said Catherine Dahl, Beanworks CEO and Co-founder.
Every year, top startups from around the world gather in the Silicon Valley to pitch their innovation and compete for the global champion award. As Canada’s regional representative, Dahl is going to be up on stage to explain how Beanworks is bringing a shift in the future of fintech.
“This is such an honor for us. We are thrilled to be selected to represent Canada on the global stage at this amazing event. We are also very grateful for all the support the Canadian tech ecosystem has given us over the years, as well as our investors, families and friends. Accounting automation’s time has come!”
Relying mostly on paper and manual systems, accounting has been one of the slowest industries to adapt technology. As a result, accountants end up working longer hours and spending multiple days on tasks that could be finished within a few hours or less. The pandemic has underlined this gap. 40% of finance professionals expect an urgency in implementing technology within their organization post-crisis.
An accounts payable (AP) automation company, Beanworks helps accounting teams manage all of their AP workflows – POs, invoices, expenses and payments – on a central platform. It helps reduce invoice processing cost by 86%; enhances controls against AP risk and fraud; and offers remote access to AP.
Next year at the Startup World Cup stage, Beanworks is going to present the next set of innovation in fintech. The COVID-imposed economic crisis has magnified the need for advanced accounting tools. The AP industry needs a makeover but what will the new tools look like? We’ll cover that at the Startup World Cup in 2021.
Straight To Your Inbox
Stay up-to-date on top accounting and finance trends
Sign up for our newsletter and receive our latest resources, news and insights.
Learn More About Beanworks
Discover how AP automation can free your accounting team from manual data entry, delays, and paper-based processes.