back Back

Quadient launches Beanworks in the UK and France amidst rising demand

By Joy Dumasia

February 22, 2022

  • Europe
  • FinTech
  • France
Share

Quadient, a leader in helping businesses create meaningful customer connections through digital and physical channels, announced the launch of Beanworks by Quadient in the United Kingdom (UK) and France. The leading accounts payable (AP) automation solution provides accounting teams with a faster, more secure and more accessible way to approve invoices and pay vendors anywhere.

Beanworks by Quadient has been growing in North America since 2012, with businesses now processing more than €14 billion a year through the platform. The cloud-based AP workflow provides many benefits to accounting and financial teams looking to simplify time-consuming invoice management processing, reduce fraud risks and manage AP with remote workforces. 

The solution 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. 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.

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 digitising their financial processes and shifting to electronic payments with the emerging e-invoicing regulations in these countries.

Chris Hartigan, Chief Solutions Officer, Intelligent Communication Automation, Quadient, said: “The launch is very timely for midmarket accounting teams in these two new markets, as the UK recently implemented electronic invoicing legislation that requires public companies to process digital invoices, as well as in France, where a similar mandate between taxable persons will be enforced by 2024. 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 digitise AP processes.”

Beanworks is part of Quadient’s best-of-breed and cloud-based Intelligent Communication Automation solutions portfolio, including Quadient’s YayPay and accounts receivable (AR) solutions. Quadient’s comprehensive SaaS AP/AR automation solutions offer a complete and straightforward 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. 

Geoffrey Godet, Chief Executive Officer of Quadient, said: “As we make the Beanworks AP automation solution available to the UK and French customers, we continue to advance our strategic ambition to become a leader in cloud-based business communications and financial processes automation. Quadient’s mailing automation solutions customers are looking to digitise 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. We remain focused on maintaining our good momentum in the software business, targeting to achieve an Annual Recurring Revenue of c. €250 million for our cloud-based software solutions by the end of 2023.”

Previous Article

February 22, 2022

IMAN secures $1m to enhance halal investing and shopping

Read More
Next Article

February 22, 2022

BCB Group launches BCB Yield for returns on fiat and crypto funds

Read More








IBSi Daily News Analysis

cybersecurity

April 18, 2024

Europe

GCC banks bolster Cybersecurity measures to combat email fraud

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

April 19, 2024

Cashflows partners with National Association of Funeral Directors

Read More

April 19, 2024

Ant International set to create digital business centre in Malaysia

Read More

April 19, 2024

Opn appoints Vaden Landers as President and CEO of MerchantE

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q1 2024
Global Digital Banking Vendor & Landscape Report Q1 2024
Know More
Wealth Management & Private Banking Systems Report Q1 2024
Wealth Management & Private Banking Systems Report Q1 2024
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023