Beanworks Blog
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AP Automation
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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AP Automation
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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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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AP Automation
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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AP Automation
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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AP Automation
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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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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AP Automation
Data Entry is Finished. Here’s What’s Replacing it
About 86% of accounting teams enter data manually – and for 40% of them that task takes up a quarter of their workweek. Learn how AP automation can help accountants become more progressive by freeing them from the chore of keying invoices.
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AP Automation
Completing An Audit Remotely Can Be Stressful – But There is A Solution
In a normal year, an auditor would meet staff in the office, or rely on physical records and verifications to make assessments. But with COVID-19 limiting travel, they’re now bound to phone and video calls.
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AP Automation
If You Think Manual Work is the Biggest Challenge for AP Teams, You’re Wrong
Companies are typically taking up to four weeks or more to pay vendors – unnecessarily incurring late payment fees and breaking down supplier relations. Here are some ways that companies can use AP solutions to improve their purchase to pay (P2P) process.
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AP Automation
The Game-Changing Cross-Border Payments Every AP Team Needs
The B2B cross-border payments market is predicted to reach USD $35 trillion by 2022. The partnership between Beanworks AP automation and global payments provider, Cambridge can help companies move in that direction.
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AP Automation
Integrate Beanworks With Microsoft Dynamics GP For These Benefits
As more finance teams switch to electronic payments than ever before, here’s why you should consider Beanworks, which now integrates with Microsoft Dynamics GP.
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AP Automation
86% of Accounting Teams Rely on Manual Invoice Data Entry – When They Don’t Have to
A full adoption of automation for Accounts Payable processes not only saves time and money for SMEs. It also helps finance teams make better strategic decisions that help grow their organization.
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AP Automation
Accounts Payable Automation for Property Managers
With the projection of the global property management market expected to expand to $23.63 billion by 2026, property managers need to prepare to scale. Here are top reasons why eliminating paper, and automating AP can transform the workflow.
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AP Automation
Top 5 Key Performance Indicators for Accounts Payable Departments
It can take up to 25 days for invoices to be approved. However, organizations with more mature AP processes are able to shrink this time down to 3-5 days.
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