Cut beef into strips, about 1/2 inch X 2 inches long. Season with salt, pepper, and paprika.
Heat 1 tablespoon butter in a skillet over medium heat. Add onions and peppers and season with salt and pepper. Cook about 5 minutes, stirring often.
Meanwhile, heat the remaining butter in another skillet over high heat. Add beef strips and cook about 2 minutes, stirring and turning to cook evenly. remove meat and set aside. Add sautéed peppers. Add wine and cook 1 minute, stirring and scraping to incorporate any brown bits into the sauce. Add cream, bring to a boil, and cook over hight heat about 4 or 5 minutes.
Return meat and any surrounding juices, stir, and serve.