Category: Accounts Payable Workflow

6 Accounts Payable Pains and How to Eliminate Them

If you have worked in a finance role of any capacity, you know how much time and effort can be spent on processing vendor payments. And, unfortunately, poor accounts payable performance issues aren’t always the easiest to identify, especially if a company has an established AP process in place. Here are five of the most…

How to Build a Business Case for AP Automation

Is your company’s Accounts Payable (AP) function performing as well as it could? According to a recent study, over 60 percent of companies still process their invoices and payments offline1. While many companies use their websites as a digital storefront, or even rely on social media for customer service capabilities and engagement, many more are…

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…

Managing Accounts Payable for a Distributed Workforce

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…

Creating Connections: Accounts Payable Automation Makes Collaboration Easier

Email overload is a very real phenomenon for businesses these days. Global research company, The Radicati Group, reports that by 2018, over 139.4 billion business emails will be sent and received per day worldwide. On average, employees send and receive 97 emails per day, but that number is expected to climb to 140 per day…

Sage Partners with Beanworks to help Small & Medium Businesses Automate their Payables Workflow

RICHMOND, BC–(Marketwired – Nov 16, 2016) – Sage, the market leader for integrated accounting, payroll and payment systems, has announced a significant partnership with Beanworks, an accounting workflow automation and payments provider based in Canada. Sage selected Beanworks for its ability to deliver a service that helps businesses streamline their accounts payable (AP) workflow and…

Speed Up Payables Invoice Processing with Smart Code

In the ever changing world of accounting, the financial industry is seeing more and more companies opt for automating accounting transactions from expenses to accounts payable. With more to do, and less time and resources to achieve it, automation has become a go-to solution to solve accounting pains like lost invoices, unnecessary late fee payments,…

Top 5 Scariest Accounts Payable Problems

It’s the spookiest time of the year! In honor of Halloween, we’ve rounded up the top five problems that are regularly encountered in the accounts payable industry.  But don’t be fooled, these problems happen all year round – so here is our top five list of scariest accounts payable problems! 1. Fraud & Theft It’s…

You Can’t Ignore Your Accounting Workflow Problems Forever

It’s a funny thing about challenges in life and business. You don’t know what you don’t know (hence the problem!) and even if you do know you have a problem, sometimes you don’t know a solution for it even exists. Sound familiar? When Beanworks first got into the business of accounts payable automation, we knew…

Where’s Your Accounts Payable Workflow Pain?

After numerous round table discussions with our clients regarding user experience and team meetings about the mission and priorities of Beanworks, we zeroed in on one particularly insistent theme circling around the concept of accounts payable workflow and invoice processing activities: Pain. More specifically, our prospects are wondering how an AP automation solution can improve…