Capital Expenditure Approval Process Automation for a Manufacturing Client
Introduction
Bautomate offers a plug n’ play Business Process Automation platform with intuitive features that require little or no training to get started. The platform can be used to automate repetitive tasks like document generation, data capture, capital expenditure approvals, workflow, etc., to increase productivity and reduce costs. Additionally, the platform crunches millions of data points to give you actionable insights into your business processes for identifying profit centers and improving sales and revenue forecasts.
Problem
Managing and tracking capital expenditure 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 capital expenditure approval management challenges:
- Manual, non-standardized processes
- Missed deadlines and inaccurate request routing
- Unproductive communications and emails
- Multiple errors, duplicating or missing request data
Capital expenditure Workflow component successfully replaces manual capital expenditure approval processes by automating task flow and ensures faster approval process.
Recommended Solutions
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 capital expenditure automated workflow and Dynamic forms. The advantages of using Bautomate include,
- Automated Workflow and Dynamic Form builder to create capital expenditure 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 capital expenditure information taken from the forms directly into a target system through seamless integration.
Results
- 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 capital expenditure data with existing Finance, and other enterprise systems