Early payment discounts are a time-honored tradition in business-to-business (B2B) transactions. Suppliers who offer these types of discounts win by getting paid faster, thereby improving their cash flow, and companies that are able to take advantage of these discounts get the cost savings. But are early payment discounts really the best way for businesses to…
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…
The Biggest Barrier to Entry for Electronic B2B Payments in the US
Accounting teams across North America rely too heavily on paper checks as their primary form of payment to vendors. Not only does check processing involve plenty of manual work, but at high volumes check runs can be a large drain on a company’s resources and time. Electronic payments are a much-needed alternative to checks, but…
Bringing Accounting Innovation to the Hospitality Sector
Managers in the hospitality industry have so many competing demands on their time and attention, that it’s difficult to see where process inefficiencies exist. One area that often goes overlooked is the accounting department, a reliable mainstay in every hospitality business. Whether your accounting operations are centralized at a head office, or you have an…
Beanworks “Pays It Forward” on International Women’s Day
CEO Catherine Dahl Encourages Women in Tech & Their Allies to #PressForProgress with Mentorship Initiative Vancouver, BC | March 6, 2018 – 50% Female Team; 100% Dedicated to Advancing Women in STEM. On International Women’s Day, Beanworks will join women across the globe to #PressForProgress by spearheading the #WomenPayItForward Mentorship Initiative that encourages young Canadian…
Beanworks Appoints New President
Vancouver, BC, December 15, 2017 – Today, Beanworks Solutions Inc. proudly announced the appointment of Karim Ben-Jaafar as the company’s President. Ben-Jaafar joined Beanworks in April as the Chief Growth Officer, and has helped it flourish into a high-growth technology firm (named #12 of the 100 fastest growing companies in B.C. by Business In Vancouver)….
Beanworks Mobile App with Invoice Approval and Upload – Download Now
Download here: Google Play / Apple Store With the mobile app, Beanworks customers can now upload and approve invoices from anywhere in the world on their smartphones. The app provides a mobile-first experience, that makes processing invoices easier than ever. The Beanworks mobile app is an extension of our cloud-based web application, and uses our secure API…
Beanworks Launches Sage Intacct Accounts Payable Automation Integration
Beanworks now offers an end-to-end integration for Sage Intacct users that want to centralize and automate their payables. Founded in 1999, Sage Intacct was one of the first accounting softwares designed from the ground-up for the cloud. They had a vision to completely revolutionize how people interacted with their accounting systems. The present cloud-based accounting…
Making Data-Driven Financial Decisions for your Business with Accounts Payable Automation
Does your accounting team fill a strategic role at your company? From a survey of business leaders in the UK, over one-third (34%) of those surveyed feel that their accounting departments are undervalued and underutilized. At the same time, 82% of CFOs are keen to adopt cloud applications as a way to move their businesses…