Capex Approval Process Automation for a Manufacturing Client
Managing and tracking CapEx requests and approvals through lengthy email threads, paper trails or static spreadsheets can lead to loss of critical information, visibility and control. Here is a short list of common CapEx approval management challenges:
- Manual, non-standardized processes
- Missed deadlines and inaccurate request routing
- Unproductive communications and emails
- Multiple errors, duplicating or missing request data
Capex Workflow component successfully replaces manual CapEx approval processes by automating task flow and ensures faster approval process.
Bautomate uses Artificial Intelligence (AI) powered BPM workflow and Dynamic Forms are used to submit it to the various department heads or the finance heads for review and approval.
By using Bautomate, you can easily create Capex automated workflow and Dynamic forms. The advantages of using Bautomate include,
- Automated Workflow and Dynamic Form builder to create Capex requests.
- Fully configurable fields.
- Easily forward it to business stakeholders for approval.
- Automatically notify approvers to approve it on time.
- Improved transparency simplifies capital expenditure and promotes easy decision making.
- The software has enabled systematic workflow and validation to reduce manual intervention.
- The Bautomate can send the Capex information taken from the forms directly into a target system through seamless integration.
- Reduce the number of requests, review, and approval time
- Streamline and standardize processes across multiple departments
- Eliminate error-prone manual or spreadsheet systems
- Analyze and report on the process performance
- Identify approval process bottlenecks
- Share CapEx data with existing Finance, and other enterprise systems