Media Coverage

Beanworks was featured on The Globe and Mail’s Annual Ranking of Canada’s Top Growing Companies.

Tracy Huitika, CIO at Beanworks spoke about the challenges women in tech face and shared her advice for young women looking to develop into leadership roles.

Beanworks Co-Founders Catherine Dahl and Reza Sanaie were both named EY Pacific Entrepreneurs of the Year 2021.
They were recently interviewed by BCBusiness and gave some insights into how they set up a business and made it a success.

Kylie Riggins, Chief of Staff at Beanworks, discusses the importance of networking and lessons learned as an executive assistant for the CEO of Instagram in California. She also shares the secrets behind their company growth and opens up about the company’s philosophy.

Leveraging 25 years of accounting experience, Catherine Dahl, Founder and CEO of Beanworks, wrote the following article for CPA Practice Advisor – In it she explains 5 things you can start doing today to prevent AP fraud.

Beanworks Co-Founders Catherine Dahl and Reza Sanaie were both named EY Pacific Entrepreneurs of the Year 2021.

“Bona fide data scientists are high in demand, hard to come by, and expensive,” says Tracy Huitika, CIO of engineering and data at Beanworks, a cloud-based accounts payable automation provider. “The position usually requires a PhD in physics or sciences, as well as the ability to write code in R and Python.”

Tracy Huitika is the CIO of Engineering & Data at Beanworks. For 20 years, she’s helped organise, build and motivate teams to produce high-quality technical solutions. Huitika’s experience includes devising both business and technical solutions for a wide range of organisations.

Some of the current job openings include customer service specialists, engineering manager, technical recruiter, community manager, sales development representative, and UX/UI designer.

“I call Beanworks magic,” explains Kelly Fidler, the VP of Finance, PETA Foundation. “The way Beanworks integrated with Sage 100, which is our main financial system, was as seamless as it gets.”

Beanworks experienced swift growth over the past few years. It expanded its revenue 725% to $2.3 million in 2019 from $279,000 in 2015. Despite the pandemic, it grew 70% in 2020.

Several locations within the Radisson Hotel Group Americas managed portfolio have turned to Beanworks for quicker and simpler AP workflows.

“The crash course that many CIOs have taken on how to operate effectively while being fully remote has definitely raised the bar of capability in the industry.” – Tracy Huitika, CIO at Beanworks shares how tech leaders’ response to the pandemic has increased their visibility and importance.

Exchanging information and data is at the cornerstone of automation, especially in areas like AP and AR. So for Quadient, an organization that helps its business clients manage those communications, it seemed a natural fit to acquire AP automation company Beanworks and AR automation company YayPay.

“There’s a lot to like about Beanworks thanks to its impressive array of tools that allows for more efficient handling of purchase orders, invoicing, payments and expenses too.”

Despite the global pandemic, Beanworks saw 70% year-over-year revenue growth in 2020, triggered by accounting teams’ growing reliance on digital solutions. Beanworks empowers accounting teams to succeed, with over 800 customers processing more than $14.2 billion USD a year through the platform.

“By combining our expertise with Quadient’s global reach, R&D firepower and investments in AI technology, we will continue to live out our mission to support accounting teams everywhere.” – Catherine Dahl, CEO of Beanworks.

Quadient, a customer relationship management company based in France, has acquired Beanworks for approximately $82.9 million. Headquartered in Vancouver, Canada, Beanworks provides accounts payable automation software.

Quadient announced the acquisition of Beanworks, a leading FinTech in SaaS Accounts Payable automation solutions.

Beanworks focuses on offering accounts payable software and was notably one of British Columbia’s fastest-growing businesses last year with a reported 5-year turnover increase of 725%.

Quadient, a leader in helping businesses create meaningful customer connections through digital and physical channels, announces today the signing of a definitive agreement to acquire Beanworks, a fast-growing market leader specializing in Software as a Service (SaaS) Accounts Payable Automation solutions.

The acquisition of Beanworks brings advanced cloud-based Accounts Payable automation capabilities to Quadient’s best-of-breed business communications management suite featuring Quadient Inspire and Quadient Impress.

Quadient has inked a definitive deal to purchase accounts payable (AP) automation technology company Beanworks.

“The acquisition of Beanworks completes Quadient’s software vision communicated in early 2019 to create a true end-to-end cloud-based global business communications platform.” – Geoffrey Godet, chief executive officer of Quadient.

“We are excited to join the Quadient team. Empowering accounting teams to succeed is what we do at Beanworks, and now with Quadient we will continue to bring our passion for all things AP globally making Beanworks the essential tool for the world’s accounting teams.” – Catherine Dahl, CEO of Beanworks.

Although Beanworks saw a drop in revenue in Q2 2020 due to the COVID-19 pandemic, it was then able to persevere through the tough year to see its best sales year ever, Beanworks CEO Catherine Dahl said in an interview with Finledger.

Beanworks announced the introduction of artificial intelligence (AI) to its data capture functionality, radically increasing the speed and accuracy of customers’ data entry.

SmartCapture offers 99%+ accuracy and reduces the time accounting teams spend on data entry by more than 80%.

Beanworks has debuted its SmartCapture artificial intelligence (AI)-enabled capability.  It offers over 99 percent accuracy and it allows AP workflows to be finished expediently.

Before your business returns to “normal”, here’s how you can prepare for the new-age financial threats.

“At Beanworks, we understand the value that diversity brings to the team, and we live it. I’ve worked in high tech for more than 20 years, and I’ve never seen a more fair approach to hiring, recognition, and promotion.” – Tracy Hutika, CIO, Beanworks

“My tricks of the trade: take regular breaks throughout the workday, take vacations every quarter when possible and, now during the global pandemic, stick a mask on and go for a walk!” – Beanworks CEO, Catherine Dahl.

Catherine Dahl shared leadership lessons with Authority Magazine. “You can’t be a thought leader without domain expertise. Subject mastery, and a strong perspective on that subject, are critical first steps on the road to thought leadership.”

HR’s role has become increasingly strategic and part of that requires focusing on truly supporting employees. Our co-founder, Tracy Thompson speaks with Catherine Gordon, from the Canuck Place Children’s Hospice about how HR practices are evolving.

Beanworks launched its expense reimbursements feature that aims to help companies automate how they receive and process employee expenses.

Beanworks has released an integration for Microsoft Dynamics GP. The automation provides teams with an overview of the AP process with a digital audit trail of every AP document and the approval history.

The new integration simplifies AP processes for teams using Microsoft Dynamics GP. The software eliminates the vast majority of burdensome data entry, and automatically routes AP documents for approval.

“As companies ‘normalize’ a remote culture for staff, having the ability to submit expense reports online and receive payments electronically is going to further enhance the remote efficiencies of any business.” – Beanworks CEO, Catherine Dahl.

Beanworks has rolled out a function for expense reimbursements to assist companies in automating how they get and handle staffer expenditures. The new function lets staffers send in receipts for their expenditures digitally through the Beanworks mobile program or website.

The Expense Reimbursement feature removes the need for manual processing, allows employees to submit receipts on the go, and provides greater accuracy and transparency for finance teams.

“Through this partnership, we offer organizations even greater control and visibility of their global AP processes from purchase to payment,” – Beanworks CEO, Catherine Dahl said in the announcement.

Through the combination of Beanworks’ AP solution and Cambridge’s payments technology, users will have the ability to reconcile purchase orders and invoices side-by-side before proceeding directly to payment in over 145 currencies.

“The pandemic has only hastened the beginning of a tech revolution in accounting and highlighted the need for cloud adoption and automation of many tasks.” – Beanworks CEO, Catherine Dahl on the tech revolution in accounting.

Beanworks is one of the best payment processing services of 2020 according to Digital.com.

Congratulations to our CTO & Co-Founder, Reza Senaie for being the 2020 Business in Vancouver Forty Under 40 recipient!

Startup World Cup Canada Regional judges selected Beanworks from the 2020 CIX Top 20 Early inductee companies.

Beanworks is making equal pay a priority by taking the #PayUpForProgress pledge with Unbounce and other Canadian tech firms.

Our latest enhancement with property management software, Rent Manager, offers an entirely paperless AP experience – from purchase orders to payments. See all the benefits here.

Beanworks selected in the Top 20 list of Canada’s growth and innovative tech startups by CIX.

Our team at Beanworks is proud to be recognized as the 8th fastest growing company in B.C.

Beanworks President, Karim Ben-Jaafar talks about growth strategies to consider during a ‘bear market’ (recession) such as cashflow and anticipated recovery timeframes.

For accountants who are prone to suffering from stress or burn out, cloud technology can help them stay connected, learn new skills, work from any location, and have more flexibility around their schedule.

The pandemic should make every company move their accounting processes to the cloud. However, many who have spent years growing comfortable with old processes think that it’s difficult to do so – but they couldn’t be more wrong. Beanworks CEO, Catherine Dahl, explains why.

Congratulations to this power-packed list of female leaders, including Beanworks CEO, Catherine Dahl, that are setting the stage for the next generation of female STEM and tech leaders.

The entire world is transitioning to remote work largely in the cloud. However, it’s not always the easiest process to completely upturn your traditional processes. Here are some best practices for transitioning to remote work.

Through this strategic partnership, the companies are offering an enhanced payments platform for the US market that will help businesses operate efficiency with a completely digital payment workflow for remote payment approvals and payment processes as the global economy transitions into the cloud.

Nvoicepay and Beanworks are partnering to offer a payment platform with a digital workflow for payment approvals and processes to help businesses in the U.S. operate more efficiently.

With British Columbia’s tech community uniting like never before amid the COVID-19 pandemic, the BC Tech Association (BC Tech) is especially proud to announce the finalists for the 2020 Technology Impact Awards (TIAs).

To meet this ever-increasing demand and stay ahead of their competitors, accounting firms need to update their processes on a consistent basis through technology and innovation, along with working on marketing strategies to gain a competitive edge. So, let’s get started and figure out what exactly are the accounting firms looking forward to in 2020!

Catherine strives to help build a business process company that designs and delivers disruptive SaaS solutions to the world of Finance.

“Leaders are readers — Read Scaling Up books:A great book that I found out a couple of years in called Scaling Up. Another one along those lines which only came out in 2018, is called the 3HAG Way. I wish I could have read it and planned the company by following the guidelines in these books from the start.” – Catherine Dahl

How they built their businesses, in diverse fields ranging from aerospace to investment management.

For firms serving small businesses, success is largely defined by the ability to cut down unnecessary costs and allocate resources effectively. One of the easiest but often-overlooked ways of doing so is through the automation of manual, tedious processes that clog up workloads and tie down resources.

By choosing the right solution, small and mid-size enterprises (SMEs) can optimize their AP, drive more revenue, and constantly keep their fingers on the pulse of everyday operations.

Automation has quickly become a crucial way for businesses to stay competitive in 2019, finding popular use cases across industries as more useful tools are created.

Traditional oversight measures often lack the capability to supervise large quantities of assets.

Beanworks was listed as the 13th fastest growing company in BC for 2019 by Business In Vancouver.

Beanworks AP and Levvel Research today announced the release of their collaborative report entitled, “Mature Accounts Payable for the Small and Mid-Size Enterprise.” The report looked at trends in automation processes amongst SMEs, finding that through automation, SMEs can save time and money in the AP processes.

The tried and true process of putting pen to paper has persisted with accounts payable solutions throughout much of the previous century. As digital transformation has swept through the majority of industries, accounts payable has largely remained the same — even across remote locations where the need is great.

While some acknowledge that legislation can lead to progress, it doesn’t always address the root cause of lack of gender diversity in company leadership and on boards.

Discussing diversity and inclusion (D&I) practices in the workplace can be a delicate subject — but it shouldn’t be. Rather than dance around the subject or get defensive about the reason for the imbalance, HR leaders and CEOs must make a conscious and active effort to openly discuss how best to tackle the issue.

Diversity in 2019 is a vastly different concept than in generations prior. We may have progressed, but many inequalities often remain ingrained into the very foundations of workplace environments.

Catherine Dahl, Beanworks CEO, spoke to Startupbeat.com about how AI and audit automation will have an impact on breaking up the oligopoly of global accounting firms, and how this will have a positive impact for consumers.

Catherine Dahl, Beanworks CEO, is recognized as one of B.C.’s Most Influential Women in Finance by BC Business Magazine.

We are currently experiencing a paradigm shift. Companies are slowly waking up to the fact that women are a vital aspect of any business, a fact that has been overlooked for many years. However, as we strive to put more women in positions of power, a question has arisen – should a business’ pursuit for diversity trump skills, talent, or experience?

Automation technology has helped spruce up finance software and online tools, says Catherine Dahl, of Beanworks, but automation of accounts payable has lagged behind, leaving the process painfully tedious and manual.

Female empowerment in the workplace should not be considered an obligation, but an opportunity.

Vancouver-based Beanworks, which allows accounting teams to automate redundant tasks, has raised a $10.1 million Series B round. The round was led by FINTOP Capital, with participation from BDC Capital’s Women in Technology Fund.

Vancouver-based Beanworks, an accounts payable (AP) automation company, has raised $10.1 million in a Series B funding round.

Keeping a balance is an important aspect of almost everything in life. Nature, diet, exercise and life are all best when kept in harmony with the right amount of balance, and the workplace is no different. In fact, it was recently found that having a gender-diverse board of directors can help to protect the environment.

Beanworks, a Canadian fintech and SaaS company, closes a $7.7 million Series B round, citing a culture of gender diversity and inclusion as part of its business growth strategy.

The results of the fourth annual Startup Canada Awards were recently announced in regional ceremonies across the country. Beanworks CEO Catherine Dahl took home the Woman Entrepreneurship Award, presented by Business Development Bank of Canada (BDC), as one of one of the 2017 BC Regional Winners.

Business in Vancouver’s annual inventory of the 100 fastest-growing companies in the province includes a wide range of entrepreneurs and companies representing sectors across BC’s business spectrum.

In this week’s #StartupPodcast, host Rivers Corbett talks to Dahl about what it means to innovate traditional finance and how this Gastown startup is giving back.

Vancouver-based accounting software company Beanworks has closed a $4.5-million round of funding. The company says the cash injection will help fund its growth in the wake of its recent partnership with Sage Accounting.

Accounting and accounts payable management company Beanworks, based in Canada, secured new funding, the company said Tuesday, June 6.

Beanworks has raised a Series A round of funding. The Vancouver startup secured $4.5 million in capital. The round was led by Vancouver Founder Fund and TIMIA Capital.

Vancouver-based Beanworks has raised a $4.5 million Series A. The round was led by the Vancouver Founder Fund and TIMIA Capital.

Beanworks is now the beneficiary of $4.5M in Series A funding, led by Vancouver Founder Fund and TIMIA Capital.

Beanworks CEO Catherine Dahl talks about her predictions for the future of SaaS in this think piece from The Future of Everything.

A partner with Vancouver’s GrowLabs accelerator, BDC Venture Capital has invested almost $1 billion in technology companies to date including early stage investments in two B.C. companies.