Beanworks Blog
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Accounts Payable
Invoice Approval Process Best Practices to Modernize Your Accounts Payable
Practices such as having the same person approve invoices and payments can make it easier for any business to fall victim to fraud. After setting up approval channels for thousands of AP professionals, we recommend these best practices.
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Accounts Payable
8 Benefits of Accounts Payable Workflow Automation
AP Automation or accounts payable automation is the technology that uses a digital system to reduce manual and repetitive tasks such as data-entry and writing checks.
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Accounts Payable
Getting Ready for the Digital Payments Phase
Payments trends from the past decade indicate that businesses are turning away from checks. According to the Association for Financial Professionals, 81% of B2B organizations used checks in 2004. In 2019, this was down to an all-time low of 42%.
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Accounts Payable
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 ...
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Accounts Payable
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 ...
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Accounts Payable
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 ...
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Accounts Payable
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 ...
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Accounts Payable
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 ...
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Accounts Payable
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 ...
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Accounts Payable
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!) ...
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Accounts Payable
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 ...
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Accounts Payable
Uncovering The Costly Truth Behind The Invoice Processing Marathon
Nobody knows better than a CFO or company controller that time is money. And, whether you’ve given it much thought ...
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