Beanworks Blog
-
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.
-
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.
-
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.
-
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.
-
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.
-
AP Automation
86% of Accounting Teams Rely on 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.
-
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.
-
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.
-
AP Automation
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.
-
AP Automation
Fast-Track Accounts Payable Invoice Uploads from Gmail With One Click
Beanworks has launched a Gmail plugin that captures an invoice sent in the email body, converts it to PDF, and ...
-
AP Automation
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.
-
AP Automation
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%.
-
AP Automation
The Most Important Reason to Automate Payments Now
Estimated reading time: 3 minutes, 35 seconds A funny thing happened while I was writing this article. While I conversed with ...
-
AP Automation
How Much Does It Really Cost to Process an Invoice?
Reading time: 4 minutes, 24 seconds As the current crisis unfolds, many businesses are looking at solutions that will help ...
-
AP Automation
Common Accounts Payable Risks and How to Reduce Them
In 2018, 82% of financial professionals in North America reported to have experienced attempted or successful payments fraud – a 20% increase from the previous four years.
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.
