Automate capital expenditure approval processes with workflow software
Capital expenditure approval requests 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 request approval process in your organisation is still manual, you are potentially missing out on huge efficiency gains.
Challenges
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.
Solution
Drawing on our experience, we will automate your capital expenditure approval process using the Process Director BPM platform. The solution will replicate - and improve - your paper-based process to 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.
How it works
Key benefits
- Improved CapEx control
- Common capital expenditure approval process across your organisation
- A standardised CapEx, OpEx and purchase order (PO) approval workflow
- Real-time visibility of capital expenditure request and justification forms, approvals and tracking
- Financial transparency of capital expenditure approval request 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
- More visibility from the bottom up for better user confidence
- Standardised capital expenditure request and justification form
You can also visit our eCapEx microsite for further information.
