Beanworks Blog
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Product Updates
Remove Bottlenecks From Your Invoice Approval Process
The manual approval process was one of the biggest challenges for AP teams last year. Almost 37% of accountants struggled to get invoices signed off on time from managers while working remotely. With Beanworks, you don’t have to worry about chasing approvers and sending follow-ups the system will do it for you!
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Customer Stories
“It was just boxes and boxes” – How Minikahda Club Beat Paperwork With Beanworks
Prestigious golf course Minikahda Club was drowning in filing cabinets thanks to its manual accounts payable processes. Find out how they got back control thanks to Beanworks.
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Product Updates
Simplify AP Document Management
When you do things manually, that means searching through old files until you have found what you are looking for. Luckily, with Beanworks there is no need to pull through and open up all your filing cabinets to get to the right document.
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Remote Accounting
These Finance Teams Built Better Accounting Practices in the Year of a Pandemic Shutdown
There was a 72% surge in the use of fintech apps shortly after the pandemic hit last year. And while some businesses struggled to pay vendors from home on time, others closed the door to traditional processes such as paper and spreadsheets.
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News & Updates
These Women Broke Down Barriers in Fintech – And They’re Not Done
Mentorship and recognition of female role models could be part of the solution to greater gender equality. In celebration of International Women’s Day, here’s a collection of different portraits of success in tech and finance.
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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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Expense Management
Top Four Types of Expense Abuse and How to Prevent Them
17% of all business fraud occurs in expense reimbursement. Learn about the most common types of expense fraud and how automation can help prevent expense abuse and build up trust.
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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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Accounts Payable
Vendors Are Changing Payments Habits Fast. Can Businesses Keep Up?
Even before the pandemic, vendors were facing trouble collecting payments from businesses. However, COVID-19 may have forced accounting departments to step-up their digitization efforts.
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Accounts Payable
Companies Admit Their Purchase Orders System is Broken. Here’s What They’re Doing About it
60% of teams relied on improvised tools like Microsoft Office or emails to process purchase orders (POs) – but today, future-proofing AP teams have never been more eager to automate.
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Risk
2020’s Biggest Accounting Fails – And What We Can Learn From Them
Despite last year’s shocking headlines, accounting failures continued to happen – and we were taking notes. How many do you remember?
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Remote Accounting
Why AP Teams Will Continue Working From Home in 2021 – And That’s Okay
At the start of the pandemic, 88% of businesses worldwide made their employees work from home and many are still there. Accountants are unlikely to head back to the office. It is a challenge to process paper invoices and check payments when your team is at home.
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Customer Stories
Why the Association for Institutional Research (AIR) Ditched Manual AP for the Cloud
AIR uses Beanworks’ ACH system to make payments and it has cut down delays drastically. Their team is only spending 2-3% of their day on this workflow now.
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Accounts Payable
Accountants Are Returning “Back to Normal” And That’s a Problem
A survey conducted with 250+ CFOs during COVID-19 found that seven in ten accounting teams were spending 520 hours per year on manual accounts payable.
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