Beanworks (by Quadient) Accounting Software

1. Accounts Payable Automation

• Invoice Processing: Automate invoice capturing, coding, and approval workflows to save time and reduce manual errors.
• Centralized AP Dashboard: Manage and track all payables in one place for better visibility and control.
• Approval Workflows: Customize multi-level approval workflows based on your organization’s requirements.

2. Invoice Management

• AI-Powered Data Capture: Use AI to automatically extract invoice data so that it can be processed quickly and accurately.
• Document Storage: Store digital copies of invoices securely in the cloud for easy access and retrieval.
• Audit Trail: Maintain a complete audit trail of every action taken on an invoice for compliance purposes.

3. Purchase Order (PO) Matching

• 3-Way Matching: Match invoices with purchase orders and receipts to ensure accuracy before payment.
• Fraud Prevention: Identify discrepancies to reduce the risk of fraud or overpayment.
• Custom Matching Rules: Set matching parameters to align with your business processes.

4. Payment Automation

• Vendor Payments: Pay vendors securely via ACH, EFT, or checks directly through the platform.
• Payment Approvals: Streamline payment approvals with an intuitive workflow for decision-makers.
• Global Payments: Support payments to vendors in multiple currencies with ease.

5. Expense Management

• Reimbursable Expense Tracking: Track and manage employee expenses efficiently for faster reimbursements.
• Policy Compliance: Enforce spending policies with built-in controls and alerts.
• Expense Reporting: Generate detailed reports to analyze spending patterns and optimize budgets.

6. Integration with Accounting Systems

• Seamless Syncing: Integrate with popular accounting software like QuickBooks, Xero, Sage, or NetSuite for accurate data flow.
• Real-Time Updates: Ensure data consistency with automatic syncing of invoices, payments, and POs.
• Custom APIs: Leverage APIs for integrating Beanworks with custom or legacy systems.

7. Real-Time Reporting and Analytics

• Spend Analysis: Gain insights into spending trends and identify cost-saving opportunities.
• Customizable Reports: Generate reports tailored to your business needs, such as vendor activity or approval times.
• KPI Tracking: Monitor key performance indicators like payment cycle time and approval rates.

8. Scalability for Growing Businesses

• Multi-Entity Support: Manage accounts payable for multiple entities or locations within a single platform.
• User Role Management: Assign roles and permissions to team members for secure access and collaboration.
• Custom Workflows: Scale workflows to match the evolving needs of your business.

9. Vendor Management

• Vendor Database: Maintain a centralized database of all vendor details for better communication and record-keeping.
• Payment Preferences: Store vendor payment preferences to ensure timely and accurate disbursements.
• Performance Tracking: Evaluate vendor performance with insights into delivery timelines and payment histories.

10. Data Security and Compliance

• End-to-End Encryption: Protect sensitive financial data with advanced encryption protocols.
• Regulatory Compliance: Ensure compliance with industry standards like SOC 2, GDPR, and SOX.
• Access Control: Implement role-based permissions to restrict access to critical data and workflows.

1. Mobile Access

• On-the-Go Approvals: Approve invoices and payments directly from a mobile device.
• Real-Time Notifications: Receive alerts for pending tasks or updates via the mobile app.

2. Customizable Approval Workflows

• Role-Based Approvals: Set approval hierarchies based on job roles or project responsibilities.
• Escalation Mechanism: Automatically escalate approval delays to ensure smooth operations.

3. Early Payment Discounts

• Discount Tracking: Identify and track invoices eligible for early payment discounts.
• Automated Reminders: Receive alerts to take advantage of early payment opportunities.

4. Audit-Ready Financial Records

• Complete Transparency: Ensure all transactions are documented with detailed records and logs.
• Compliance Certifications: Meet audit requirements with structured, standardized documentation.

5. User-Friendly Interface

• Intuitive Design: Navigate the platform easily with a clean and user-friendly interface.
• Custom Dashboards: Tailor the dashboard to display metrics and tasks relevant to your role.

6. Recurring Payments Management

• Scheduled Payments: Set up recurring payments for regular vendors or services.
• Payment Monitoring: Track upcoming payment schedules to avoid missed deadlines.

7. Fraud Prevention

• Approval Authentication: Use multi-level authentication for invoice and payment approvals.
• Vendor Verification: Validate vendor details to reduce the risk of fraudulent transactions.

8. Automated Data Entry

• OCR Technology: Use Optical Character Recognition to extract data from invoices quickly and accurately.
• Template Learning: Automate data entry by training the system to recognize recurring invoice formats.

9. Cash Flow Optimization

• Payment Scheduling: Optimize cash flow by scheduling payments closer to due dates.
• Spend Forecasting: Use analytics to forecast cash outflows and manage liquidity.

10. Customer Support and Onboarding

• Dedicated Support: Access a responsive support team for troubleshooting and queries.
• Knowledge Base: Use the resource library for self-service troubleshooting and learning.

1. Cloud-Based Accessibility

• Remote Operations: Access accounts payable data and workflows from anywhere with an internet connection.
• Automatic Updates: Benefit from regular updates without requiring manual installations.

2. Multi-Currency Support

• International Payments: Process invoices and payments in multiple currencies for global vendors.
• Exchange Rate Integration: Automatically apply current exchange rates to payments.

3. Automation of Recurring Invoices

• Recurring Templates: Set up templates for recurring invoices to save time on repetitive tasks.
• Auto-Processing: Automate recurring invoice approval and payment workflows.

4. Custom Notifications

• Task Reminders: Set up reminders for pending approvals or payment deadlines.
• Real-Time Alerts: Receive notifications for workflow updates and urgent tasks.

5. Cost Center Allocation

• Expense Categorization: Allocate invoice expenses to specific cost centers for better tracking.
• Budget Control: Monitor cost center budgets to prevent overspending.

6. Custom Approval Limits

• Approval Thresholds: Define approval limits based on roles or transaction amounts.
• Scalability: Adjust thresholds as organizational needs grow.

7. Detailed Vendor History

• Payment Records: Maintain a comprehensive history of payments made to each vendor.
• Performance Tracking: Analyze vendor reliability through on-time delivery and payment trends.

8. Advanced Search Functionality

• Keyword Search: Locate invoices, POs, or payments using keywords or phrases.
• Filter Options: Narrow down search results by date, vendor, or invoice status.

9. Environmental Sustainability Features

• Paperless Operations: Reduce paper use by digitizing invoices and workflows.
• Carbon Footprint Reduction: Support sustainability initiatives with an eco-friendly AP process.

10. Scalable for Enterprises

• High Volume Processing: Handle large numbers of invoices and payments without performance issues.
• Enterprise Features: Access advanced functionalities tailored for larger organizations.

• Scalable Services: Whether a small startup or a growing enterprise, Accounts Junction offers scalable services to adapt to the evolving needs of your business.
• Data Security and Confidentiality: We prioritize client data security by implementing robust encryption and compliance measures, ensuring that financial information is handled with utmost care and confidentiality.
• 24/7 Support: Accounts Junction provides round-the-clock assistance, ensuring that clients receive prompt responses and solutions to their queries, no matter the time zone.
• Proactive Compliance Management: We stay ahead of regulatory changes, ensuring your business remains compliant with local and international accounting and tax laws.
• Improved Cash Flow Management: Accounts Junction helps businesses streamline their cash flow through effective management of receivables, payables, and budgeting, ensuring liquidity and stability.
• Enhanced Decision-Making: Our financial insights and analytics enable business owners to make data-driven decisions, paving the way for growth and success.
• Simplified Tax Solutions: Accounts Junction specializes in tax preparation and filing, minimizing tax liabilities and ensuring timely submissions to avoid penalties.
• Proven Methodologies: Our streamlined processes and standardized workflows ensure consistency, accuracy, and efficiency in all financial management tasks.
• Time-Saving Operations: By automating repetitive tasks and handling complex financial processes, Accounts Junction saves businesses significant time, allowing them to focus on strategic objectives.
• Long-Term Partnership Approach: Accounts Junction aims to build lasting relationships with clients by delivering consistent value, adapting to changing business needs, and supporting growth over time.

1. Accounts Payable Automation

• Invoice Capture and Processing: Automate the capture and processing of invoices to reduce manual effort and errors.
• Approval Workflow Customization: Tailor approval workflows to match business needs and streamline invoice approvals.

2. Payment Processing and Management

• Secure Vendor Payments: Process payments to vendors using secure methods like ACH, EFT, or checks directly from Beanworks.
• Payment Scheduling: Schedule payments to optimize cash flow and avoid late fees or early payment discounts.

3. Expense and Budget Management

• Real-Time Expense Tracking: Track expenses as they occur and categorize them based on business departments or cost centers.
• Budget Control: Monitor and manage budgets to prevent overspending and ensure financial efficiency.

4. Invoice Matching and PO Reconciliation

• 3-Way Matching: Match invoices with purchase orders and receipts to ensure accuracy and avoid discrepancies.
• Error Prevention: Automatically identify discrepancies between purchase orders, invoices, and receipts to prevent overpayments.

5. Vendor Management

• Centralized Vendor Database: Maintain a comprehensive database of all vendor details for better organization and communication.
• Payment Terms Tracking: Track vendor payment terms and manage discounts or late payment fees efficiently.

6. Financial Reporting and Analytics

• Custom Financial Reports: Generate tailored reports for clients to provide detailed insights into financial performance.
• Profitability Analysis: Track the profitability of specific projects or departments to help clients make data-driven decisions.

7. Cash Flow Optimization

• Payment Scheduling: Align payment schedules with cash flow to optimize liquidity and avoid cash shortfalls.
• Spend Forecasting: Use historical data to predict future cash outflows and plan payments accordingly.

8. Tax and Compliance Management

• Audit Trail Generation: Maintain a detailed audit trail for all transactions to ensure compliance with regulatory standards.
• Tax Filing Preparation: Prepare and organize financial records for tax filing purposes, ensuring all necessary documentation is available.