Capital Expenditure Requests
Streamline Your Capital Expenditure Approval Process with Leading CapEx Approval Software
“Our CEO approved his very first CapEx request from his mobile device.”
Ken Richardson, PCI Pharma Services
CapEx requests are often handled in a manual, inefficient, and error-prone manner. Automating the CapEx process should be the goal of any finance department.
Integrify is the only CapEx workflow and CapEx approval software that allows users to easily define, build, and publish a customized capital expenditure request process within an intuitive interface. Have a new, customized CapEx Request approval process up and running within weeks, not months. Also known as "Capital Acquisition Request" or "Approval for Expenditure."
Try our "CapEx Automation Walkthrough" to see how automating the CapEx/AFE process ensures efficiency and accuracy when making critical purchase decisions.
By using Integrify's capital approval workflow management software to design custom capital expenditure processes, our clients have significantly improved the CapEx request approval process and reduced their CapEx approval cycle times by up to 35%. While providing unprecedented transparency into the entire process. Requesters can track progress, managers can make informed decisions, and auditors have a complete, automatically-generated audit history.
Our customers are keeping their CapEx projects and expenditures aligned with their enterprise capital financial strategies and objectives. They’re clearly improving the management of their enterprise cash flow across the organization.
Key Features of CapEx Request and Approval Software |
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Organizational hierarchy-driven CapEx approvals |
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Sequential or parallel approvals |
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Manager approval by email or mobile device |
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Escalations based on inactivity |
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Escalations based on due dates |
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Add file attachments |
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Complete audit trail |
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Manager-driven re-routing |
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Designated alternate approvers |
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Route by amount, department or any CapEx data |
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Ad-Hoc approvals |
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Accounting system integration |
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Benefits of Using Automated CapEx Approval Software
Productivity/Efficiency
- Reduction in expenditure request, review, and approval time
- Streamlined and standardized request processes across multiple divisions
- Review and approve/manage requests from any mobile device
- Easily attach supporting documentation
Compliance
- Elimination of error-prone spreadsheet CapEx/AFE and OpEx approval systems
- Provide a clear audit trail that's easy to understand and manage
- Enable regulatory compliance and adherence to company policies and procedures
- The establishment of a multi-tiered process definition provides security for sensitive data
Reporting and Visibility
- Report on the efficiency of the process overall or for individual requests
- Provide a transparent view of the process and current status
- Compare planned spend vs. actual spend
- Identify bottlenecks and implement corrective action
- Easily incorporate data into balance sheets and income statements and cash-flow projections
Integration
- Integration with financials in existing ERP and ERP systems
- Populate forms with data from existing enterprise systems
- Embed CapEx forms and tracking into existing intranets or Websites
We have a template for that! Get a headstart on automating your CapEx Process with our CapEx process template. Just import the template, customize, and launch your new process.
Read how Baylor University and British Petroleum use our CapEx approval solution for capital expenditure request management.
CapEx Approval Process FAQ
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What is capital expenditure approval software, and how can it benefit my organization?
Capital expenditure approval software streamlines the process of approving and managing CapEx requests, ensuring compliance, reducing errors, and speeding up decision-making.
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How does Integrify's CapEx approval software integrate with our existing systems?
Integrify’s CapEx software integrates seamlessly with ERP, finance, and other enterprise systems, allowing for easy data flow and real-time updates across platforms.
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What are the key features of Integrify's capital approval software?
Key features include automated workflows, customizable approval processes, audit trails, and real-time reporting, designed to optimize the CapEx approval process.
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Can Integrify’s CapEx software be customized for our specific approval process?
Yes, Integrify’s CapEx software is highly customizable, allowing you to tailor workflows, approval hierarchies, and notifications to meet your organization’s specific needs.
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How can CapEx approval software help reduce errors in the approval process?
By automating approvals and enforcing standard procedures, CapEx software minimizes human errors, ensuring that all requests are reviewed and approved consistently.
Integrify Is More Than Just Software
Sure we have a great software product, but we also have a great service team that can drastically reduce your implementation time. Our experienced consultants have built CapEx workflow solutions for the biggest companies in the world. That means that if you need help with planning, best practices, process design or you want us to build everything, we can. In fact, we'll even build a prototype of your process in our system that you can evaluate for 30 days.
Get Started with the Best CapEx Approval Software Today! Contact us to get a free demonstration of how Integrify can streamline your CapEx Request process and provide actionable analytics.
See Integrify in Action!
No matter the platform, Integrify can help improve and streamline your business workflow.
Get our eBook to learn how to prepare for automating your Capital Expenditure or AFE process.