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Capex Process Improvement

Complete Capex Process Improvement

Helping you at each step

Capexplan helps improve your entire capital and operational expenditure process, from strategic budget planning to cost tracking and reporting. The result is a capex process improvement that follows all your policies and that is executed faster than traditional methods such as spreadsheets.

At the heart of Capexplan’ capex improvement process lie the capex and opex request creation and approval functions.  This is where your capex process improvement starts out. Their purpose is to give your company the ability to rapidly create complete requests in a short period of time. Fields that are mandatory will need to be completed before the requests can be submitted for approval.

Once the request is sent for approval, Capexplan will reach out to all users that need to review, approve, or recommend the request and ensure that the approval process follows all your approval policies.

Once your request is approved, Capexplan helps you collect information on spend (purchase orders, invoices, receptions) in order to give you valuable company overview via key reports and dashboards.

In addition to this, Capexplan is packed with numerous other capex process improvement tools, such as budget creation, asset inventory, file inventory, contract creation and much more.

Providing savings

  • Create detailed requests that include financial justification (approve on merit)
  • Allow revision and approval of budget proposals
  • Add observers that can help find savings, grants, cost effective alternatives (consultants, specialists)
  •  Provide alerts to rapidly identify cost overruns
Capex financial calculations capex approval process
capex improvement process checklist review

Improving collaboration between people

Sharing information on requests between departments, allowing them to provide their inputs into the capex/opex request process before the request is submitted for approval.

Capexplan’s capex improvement process also includes the ability to create detailed checklists and involve specialists to collaborate on the Capex/opex requests before they are submitted for approval

Enforcing company policies

  • Keep users informed during the process
  • Ensure that all capex and opex is fully authorized
  • Validate budgets
  • Mandate fields to be completed for all requests
  • Set cut-off dates for forecasting
Capex process improvement approval flow example
Capex request per status

Provide clear overview

Having an overview of your company is a crucial part of Capexplan’s capex process improvement.  Capexplan provides you with the ability to track everything, at any level in your company, ranging from simple business unit to head office. You can  also produce consolidated reports in any currency.