News & Views
Quadient launches Beanworks
To help businesses create more meaningful customer connections through digital and physical channels, Quadient (www.quadient.com) announces the launch of Beanworks by Quadient (www.beanworks.com), its cloud-based accounts payable (AP) automation solution that provides a multitude of benefits to accounting and financial teams looking to simplify time-consuming invoice management processing, reduce fraud risks and manage AP with remote workforces.
Beanworks by Quadient has been growing in North America since 2012, with businesses now processing more than €14 billion a year through the platform, and its launch into the UK and French market is timely.
“The UK recently implemented electronic invoicing legislation that requires public companies to process digital invoices, and in France, there is a similar mandate between taxable persons that will be enforced by 2024," explains Chris Hartigan, Chief Solutions Officer, Intelligent Communication Automation, Quadient. “Considering the rising demand for e-invoicing in these regions, we are confident that the secure workflow automation we provide will not only be beneficial, but also indispensable to the accounting teams looking to digitize AP processes.”
“As we make the Beanworks AP automation solution available to UK and French customers, we continue to advance our strategic ambition to become a leader in cloud-based business communications and financial processes automation,” adds Geoffrey Godet, CEO, Quadient. “Quadient’s mailing automation solutions customers are looking to digitize their processes to work more efficiently and accelerate payments, and with the integration of Beanworks in our cloud-based software portfolio, our teams can now offer a wider spectrum of solutions to help businesses in their digital transition.”
The Beanworks AP solution currently integrates with market-leading financial software including QuickBooks, Sage 50, Sage 100, Sage 200, Sage 300, Sage Intacct, Microsoft Dynamics GP, Xero, and NetSuite, and offers teams robust features such as automatic data capture, multi-level invoice approval channels and purchase order matching. Users also benefit from real-time status updates on invoices, access to AP inboxes, payment approvals and workflows that reduce the need for time consuming and error-prone data entry.
Beanworks is part of Quadient’s best-of-breed and cloud-based Intelligent Communication Automation solutions portfolio, which also includes Quadient’s YayPay accounts receivable (AR) solution. Quadient’s comprehensive SaaS AP/AR automation solutions offer a simple and complete way to successfully address the emerging e-invoicing regulations and the growing demand for cash flow management solutions. Since acquiring Beanworks in March 2021, Quadient has significantly accelerated its expansion.
Accelerated by the global pandemic and the increase of remote work, the global market for AP automation is experiencing significant growth. Adroit Market Research predicts the AP automation market will reach $4 billion by 2025. UK and French businesses of all sizes are beginning to reflect on the benefits of digitizing their financial processes and shifting to electronic payments with the emerging e-invoicing regulations in these countries.