Email overload is a very real phenomenon for businesses these days. Global research company, The Radicati Group, reports that by 2018, over 139.4 billion business emails will be sent and received per day worldwide. On average, employees send and receive 97 emails per day, but that number is expected to climb to 140 per day…
How to Combat Payment Fraud with Accounts Payable Automation
This past August, accounts payable staff at MacEwan University in Edmonton made a simple change to vendor banking information that ended up costing the university $11.8 million. In June, an email was sent to MacEwan staff from what appeared to be a known vendor, Clark Builders, which had been working with MacEwan on various construction…
Beanworks Named to BIV’s Top 100 Fastest Growing Companies List
Each year Business in Vancouver compiles a list of the 100 fastest growing companies in British Columbia. This year’s list, published in August, includes a stellar line-up of both list veterans and new entrants. Beanworks is proud to have entered the list for the first time this year, ranking as the twelfth fastest growing company…
Here’s Why Accountants Are Ready for Accounts Payable Automation
Technological disruption and adaptation can be difficult, particularly for those who work in traditionally regulated industries like financial services. However, Sage reports that an overwhelming majority of accountants (86%) are ready to embrace emerging technologies. In their recent survey, The Practice of Now, 700 accountants were surveyed about technological advancements in accounting and their outlook on…
Fatigue Science Achieves Full Visibility Across their Accounts Payable Workflow with Beanworks
Fatigue Science is an innovative company that uses biomathematical science and wearable technology to measure occupational fatigue. With their fatigue model, they track a variety of sleep factors, like quality and circadian rhythms, to predict how fatigue will evolve over time. For their clients, which include professional sports teams, heavy industry companies, and the military,…
Work Smarter, Not Harder with Accounts Payable Automation
Accounting teams across the globe are consistently under-served by antiquated technology, most of which is decades old. They are asked to do more with less. With these pressures and the arrival of cloud computing, accounting teams are beginning to see that accounting workflows can be better optimized. Traditional, manual financial workflows are moving towards automation…
How Accounting Automation is Changing the Role of CFOs
Back in 2012, the ACCA (the Association of Chartered Certified Accountants) put out a report on the changing role of the CFO, which predicted CFOs would be spending “less time on recording and verifying the numbers, and more time making the data connections and explaining the number implications to the business – applying the finance…
5 Strategies Public Accountants Can Use to Speed Up Month-End
For public accountants, month-end is a stressful time, characterized by long hours of overtime and punctuated by last-minute scrambles for missing information. As a regular financial health check, the month-end close process is essential to businesses. It’s through this process that businesses reconcile, aggregate, and report on their financial information. However, 87% of accounting professionals…
New Integrations Rolled Out for Beanworks
Our product team has been busy over the last few months, adding new integrations to the Beanworks suite. We detail each of these new and upcoming integrations below: Northstar Integration Now Available We’re excited to announce that Northstar customers can now automate their accounts payable processes with Beanworks. Northstar supports the end-to-end business operations of a club and is…
What Automation Really Means for Accountants
Automation is not a new concept in accounting, but it’s often one that is viewed with some measure of skepticism. While the media is keen to push the concept of robot accountants taking over the industry, the reality is something quite different. With the advent of technologies like artificial intelligence, machine learning and robotics, we’ve…