The Capex approval process
Managing your Capex Approval Process from end to endThe heart of Capexplan consists of a customizable capex approval process. This capital expenditure approval flow can be tailored to your specific company approval policies. Capexplan enables you to add users and determine precisely what they can approve. You can add individual users as well as groups and place them anywhere in the capex approval process. Regardless of the complexity of your company’s approval flow, Capexplan can reproduce it in detail.
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When creating groups, you can determine if all group members or only one in the group needs to approve the capex request.
Capexplan is a complete capex approval software. It enables you to customize every element of the capex approval process. For example, you can select to approve requests following a parallel or sequence mode. While sequence mode means that each approver gets to approve the request after another, parallel mode means any approver can approve the request it at any time.
Parallel Mode
Sequence Mode
For even more complex approval policies, Capexplan enables you to assign multiple approval limits per user. The same user overseeing a business unit or group can have a different approval limit in another business unit.
Finally, users can add multiple exceptions for each user in the capex approval flow, in order to refine the approval process.
Flexibility of the approval process
Depending on the settings, users can elect to modify the requests during the approval process. Depending on the modification made, if some approvers have already approved the request before the changes were made, Capexplan will seek their approval a second time.
Multi-currency environment
Capexplan is the most complete capital expenditure approval software on the market. It allows users to work in multi-currency environments. Users can set approval limits for different currencies used in the company. When creating a request, simply indicate the currency to be used and Capexplan will reach out to the approvers automatically.
Getting your request approved
Once your request is sent for approval, Capexplan reaches out by email to all approvers and observers to let them know there is a request to be reviewed. Approvers will be able to review the request and approve or disapprove. They can also provide comments for all approvers to see. Observers will be invited to review the request and provide their comments. Both the approvers and the observers can also attach documents to the request.
Adding observers and Recommenders
Observers are users which cannot approve or reject the request, but they can provide valuable insight to the request. When creating your request, you can designate any user to be an observer and add him or her to the approval flow.
Recommenders are users which must provide a recommentation (recommend or do not recommend) in order for the request to be approved. However, recommenders do not stop the process.
A final group of users which are not inserted in the capex approval process, but are important to the process are Notified users. These users receive all information related to the capex or opex request once and only once the request is fully approved.