Recent surveys continue to show a strong desire by businesses to do away with the labor-intensive, paper-based steps typically used to process and approve invoices while at the same time converting their B2B payments from costly paper checks to electronic delivered payments. Manual data entry, routing of invoices for approval, error and exception resolution and overall payment costs persist as primary issues for Accounts Payable. In response to these accounts payable challenges, Travelex and Bean Services have partnered to offer a combined solution providing greater control and transparency over the processing, approval and payment of invoices both domestic and international.

“As we transition into the electronic paperless age of approval workflow it’s imperative that controllers and CFO’s are able to quickly access as much of the transaction details as possible before approving for payment.” said Jarrod Levitan, CEO of Bean Services. “Combining Travelex’s world class payment solution with Beanbills’ visibility into the actual invoice image and workflow, creates a powerful tool for any organization who wants to take advantage of all the cost efficiencies in that process.”

“Travelex Global Business Payments is proud to partner with Bean Services. The pairing of Travelex’s leading global payment solutions with Beanbills Payables Automation Solution provides clear path to alleviate many of the challenges and costs faced by companies’ CFOs, Controllers and Accounts Payable professionals.” said Matthew Lewis, Director of Partnerships and Alliances of Travelex Global Business Payments.

To learn more about the partnership, please e-mail sales@beanservices.com and a member of the team would be happy to assist.

About Bean Services:
Founded in 2005, Bean Services’ mission is to increase office productivity through user friendly and innovative Cloud based E-Payables software. With high-profile clients covering several industries, this award winning company focuses on the combined strengths of talented people and leading edge technology.

About Travelex Global Business Payments:
Travelex is a global foreign exchange specialist providing the payment and receipt of domestic and international funds for businesses of all sizes. For more than 30 years, Travelex has provided clients with sophisticated market knowledge, leading edge technologies and practical and innovative solutions tailored to individual requirements.

“That’s right, you can truly say goodbye to data entry!! We’re thrilled to be releasing this new version. It’s going to make managing and controlling the AP process even easier,” said Jarrod Levitan, Bean’s CEO. “Now users can easily email their invoices directly into Beanbills where they’ll be electronically captured, avoiding one additional step to manually scan paper. Since everyone uses email, this will greatly enhance the experience of using the Beanbills application.”

Invoice Management & Control Made Easier

Users of Beanbills will feel right at home with the new enhancements and improvements which addresses extensive user feedback and makes invoice management easier and more convenient through the following:

• Improved audit trail and tightened security. Enhanced user restrictions only allow a user with the right privilege to access the appropriate details in Reports and Search views. Password and group corrections are now restricted to a “super admin” except that any user can change his/her settings when logged in.
• Better looking display. The simple stuff really, like displaying workflow information where it should be displayed; Intray, Batches Folders and Approvals Trays. Such as the routing of an invoice from desk to desk for approval, users continue to work electronically with invoices but with more information at their finger tips.
• Enhanced Approval rules and mechanisms. With the right permissions a new “Super Approver” is now allowed to override a job cost or account associated with an invoice that is already in the approval flow. Speeding up the approval process giving the right people final approval control. Additionally, the Approval tray functioning has been enhanced to eliminate duplicates for multiple-channel invoices.
• Improved Key Stroke commands for Coding. An enhancement to allow clearing of any value entered in fields, now permitted to use Backspace/Delete keyboard buttons following by Enter to commit the removal.
• Ability to manipulate Images. With new tools you can move images around within and invoice, by rotation or deletion making it much easier to visually display the transaction data the user wants to see.
• Additional Workflow Automation Tool with INBOX view. Now an invoice can be matched to a PO directly from the INBOX view with the addition of a new “Match To PO” button added to the Intray menu.
• Improved search and reporting functionality. New search options were applied to search invoices by exact and range amounts of the “Total” column. The introduction of a “Grand Total” line was added to data-tables in Search and Report views to calculate a cumulative amount of the “Total” column. Both Search and Reports views now provide sorting functionality when clicking a column header in a data-table.
• Enhanced Integration support. Export History log-file now provides additional information, such as Batch ID and Batch #.

Beanbills Version 2.5 arrives on the heels of a successful year that saw Bean Services’ profile and awareness grow in 2009. The industry is fast taking notice of Bean Services in the AP Automation & Control market and realizing the business benefits of Beanbills, resulting in additional new customers, third party reviews of Beanbills as well as the development of strategic partnerships that continue to grow through this year.

Bean Services CEO Jarrod Levitan, said “We are working on a fundamental shift in the way company’s process their accounts payables. This financial contribution will help us advance our cloud based solutions ability to integrate with traditionally based client server accounting systems. The contribution is to be invested in the current fiscal year.”

NRC-IRAP provides a range of both technical and business-oriented advisory services along with potential financial support to qualified innovative Canadian small and medium-sized enterprises. Financial assistance for this project is a direct result of the Government of Canada’s Economic Action Plan. More information about NRC-IRAP is available at irap-pari.nrc.gc.ca.

“We are thrilled to have Francis aboard” said Jarrod Levitan CEO of Bean Services. “His experience in the selling software solutions and services to both enterprise and mid-market customers and prospects will accelerate our growth efforts in this emerging market place.”

Francis is a multi-year veteran in consultative sales of products and services to management and C-level contacts in the technology and software markets. His expertise developed in a number of marketing, sales support and sales roles throughout his network of contacts that spans a number of industries locally and throughout North America.

Prior to his new position, Francis was Director of Sales at Luxoft, where he grew the business significantly by landing key accounts. He has also worked in a senior sales role with Oracle, Cognos and QA Labs.

After founding and developing Wintax in 1992, Bruce sold it to Intuit where he stayed on to grow the original two man team into an organization with of over $115M in revenue. In 2004, after 12 years of building those organizations into the market leaders in consumer and small business financial software, he retired from his position as President & CEO of Intuit Canada and the UK to add his experience to growth based technology companies. Mr. Johnson holds a Computing Science Degree from the University of Alberta and is currently the Chairman and CEO of Semanti Corp. and is on the Board of Directors of HeadCount Corporation and a director of TEC Edmonton.

“We are thrilled to have Bruce aboard. He is an important addition to the Company. His expertise in growing markets and knowledge of the financial software sector will serve to strengthen our board of advisors.” Jarrod Levitan, CEO of Bean Services.

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VANCOUVER, BRITISH COLUMBIA – May 20, 2009 — Bean Services, an award-winning developer of web-based invoice software, announced today the launch of two new services, Bean Consulting and Bean Auto-Capture.

Bean Consulting provides customers with expertise in workflow analysis, systems analysis, change management, and training needed to help create highly efficient accounts payable processes. Customers often find going “paperless” a daunting task. Bean Consulting helps them over this hurdle by truly understanding their process. Then offering a service that makes it easy to change through implementation planning, training, and performance evaluation and measurement.

“Instead of just throwing software at an inefficient payables process, we work with our customers to map out a new, custom process that works for their business. This gives our customers direct insight into how they’re going to change their accounts payable process, and why they should change it. Ultimately, our consulting services help our customers maximize the value of automating their payables and their beanbills implementation,” said Jarrod Levitan, CEO of Bean Services.

Rounding out Bean’s new service offering is Bean Auto-Capture, an optional, pay-as-you-go service that eliminates manual and time-consuming data entry tasks typically associated with accounts payable processing. Using a hybrid of recognition, scanning and verification technologies, Bean Auto-Capture converts paper invoices into electronic data that can be uploaded into a customer’s existing accounting system. Auto-Capture significantly increases processing accuracy, by reducing incidents of duplicate payments, transposition errors, and miscoded invoices.

According to ITC Construction Group’s CFO Allan Beron, “We were spending thousands of dollars and personnel time every month on a manual, paper-based payables process. Bean Services worked closely with our company to improve our entire accounts payable process, and helped ensure the transformation was painless. Beanbills and Bean Auto-Capture are having a positive impact on our bottom line, and are making a big difference to how much time we spend on payables.”

Bean will provide ITC with its leading edge beanbills ap automation solution, helping streamline their workflow and reduce costs. Included in the deal are services provided around enhancing ITC’s accounts payables and business processes.

VANCOUVER, BRITISH COLUMBIA – Bean Services, an award-winning developer of web-based invoice software, announced today that its flagship product beanbills has been certified by Intuit, guaranteeing seamless integration with QuickBooks, the world’s #1 small business financial software.

With certification, QuickBooks customers can now use beanbills, an innovative accounts payable service, to eliminate the manual, paper-based tasks of accounts payable processing. “Using just an Internet browser, beanbills gives QuickBooks customers a practical option to go paperless with the ability to access and approve their bills online from anywhere,” said Jarrod Levitan, CEO of Bean Services. “With beanbills, Canadian and U.S. QuickBooks customers can automate and streamline their accounts payables process, and eliminate manual, error-prone tasks that cost time and money.”

Available now as a free trial from Intuit’s Marketplace, beanbills is a user-friendly, customizable solution that integrates easily with existing accounting systems of small and large companies alike.

Founded in 2005, Bean Services is an award-winning developer of user-friendly and innovative e-payables software. Its customers include leading construction and property management companies. Bean Services’ flagship product beanbills , streamlines accounts payable processes and can dramatically cut processing costs and reduce errors. Bean Services’ talented team is based in Vancouver, BC, Canada.

QuickBooks® is a registered trademark of Intuit, Inc.