Beanworks Blog
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Customer Stories
Brickell Biotech: “We’ve reduced invoice approval delays by 99%”
Before Beanworks, Brickell was struggling to manage two separate storage platforms – one containing physical documents, and the other digital.
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News & Updates
Beanworks Selected From CIX Early 20 to Represent Canada at the 2021 Startup World Cup
By winning the regional this year at CIX, Beanworks has the honor of now representing all of Canada at the world finals in San Francisco in May 2021.
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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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Risk
Top Four Ways to Avoid Accounting Errors in 2021
Here are four technology solutions your company can implement now to avoid the most common accounting errors.
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Product Updates
Beanworks Mobile App With Expense and Invoice Management
With the mobile app, Beanworks customers can now upload and approve invoices and receipts from anywhere in the world on their smartphones. The app provides a mobile-first experience, that makes processing invoices and managing expenses easier than ever.
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Expense Management
85% of Employees Admit to Sometimes Lying About Expense Claims
Filing expense reports aren't just dreadful for employees. They could be costing businesses a pretty hefty figure. Fraud and expense abuse by employees can cost companies up to 5% of their annual revenue.
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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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News & Updates
Beanworks Recognized as BC’s 8th Fastest Growing Company
Some significant milestones have been a partnership with Sage accounting, a market leader for integrated accounting, payroll and payment systems. With this partnership, Beanworks became the official AP automation provider in North America for Sage.
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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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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.
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News & Updates
Lessons on Pivoting During a Time of Crisis
Many entrepreneurs will comment, “we pivot everyday” or “we’re open to it” but that’s not what pivoting is. You do not pivot your strategy every so often. Often “big decisions” are misquoted as pivots.
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ePayments
What is a Virtual Credit Card? 3 Things You Need to Know
One research study found 9,708 instances of compromised credit card data in only the first quarter of 2019. Right now, one of the biggest financial risks is credit card fraud.
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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 ...
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Accounts Payable
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.
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ePayments
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%.
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