Capital expenditure (CapEx) approval software
Capital expenditure approvals represent the most important decisions taken by a company often involving substantial outlays, detailed business cases and lengthy approval cycles with multiple stakeholders. It’s a complex process so why rely on paper-based processes?
If the CapEx approval process in your organisation is still manual, you are potentially missing out on huge efficiency gains.
At ePC, we combine powerful and accessible workflow tools with our can-do attitude to mapping out, integrating and deploying your processes - either as an on-site installed and managed application or cloud based system.
We have years of experience in understanding processes, creating bespoke integration and deploying capital expenditure request approval software in place of slow, error-prone, untraceable, paper processes.
Existing user directories, accounts systems, ERP and portal systems make the task of automating even a seemingly simple process out of reach to many departments. And that is before the workflow, rules and authorisation limits have been mapped out, which can all combine to make the upgrade from paper to electronic seem unmanageable, expensive and never ending.
Drawing on our experience, we will develop a bespoke capital expenditure approval process with off-the-shelf components to replicate your existing process and provide greater visibility, automation and tracking of your CapEx spending.
Significant cost savings will be derived from tighter spend control, harmonisation of processes across departments and geographies, eradication of procurement overlap, improved utilisation of existing equipment/capital, and the ability to leverage bulk-buying power.
- Improved CapEx control
- Common CapEx approval process across your organisation
- A standardised CapEx, OpEx and purchase order (PO) approval workflow
- Increased visibility of CapEx request forms, approvals and tracking
- Financial transparency of capital expenditure approval forms
- Scalability to roll-out to other departments
- Automation and reduction in paper-based processes
- Formalised CapEx governance procedures
- Leveraging the scale of your business – preferred suppliers and utilisation of business equipment/capital
- Cost savings from centralised visibility and improved control
- Quick and nimble deployment process
- Increased visibility from the top down for financial transparency
- Increased visibility from the bottom up for better user confidence
- Standardised capex justification template
If you want to find out more about capital expenditure (CapEx) request approval software, please contact us.