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Capex Projects

From Planning to Tracking and Everything in Between.

Capex projects often represent a significant portion of the capital expenditures incurred by companies. Many capex projects originate from various initiatives, including construction, renovation, production manufacturing improvement, and cost reduction. Naturally, the larger the project, the bigger the capital expenditure.

Planning to Tracking

Over the past ten years, our Capexplan software has made significant strides. Each year, we work to enhance the process of Planning, Approving, and Tracking of Capex Projects. We’ve introduced various features to provide maximum flexibility, such as the ability to include both Capex and Opex within a project. Additionally, we’ve added multiple levels to our software. This, so that users can create large projects (which we call Envelopes) that can encompass multiple Projects. Those can then include multiple capex requests (Standalones) which themselves can include multiple studies (ex: engineering, environmental reports). With a total of four levels, Capexplan offers a maximum flexibility. It also enables companies to create capex request of all size, and conduct project management, regardless of their industry.

Budgets to Capex Requests

Users can then plan their capex projects in detail during the budget cycle and submit their budget for approval. Once approved, users can then create their capex requests and link their requests to their budgets, if the request is for a budgeted item (otherwise, it will be considered as non budgeted). That link to the budget enables Capexplan to provide insight to users. Reports will show how much was budgeted, approved, forecasted and actually spent. This completes the full cycle from planning to tracking.

Streamline Approvals

We have also added other capex projects management features, in order to help companies streamline their processes. For example, users can enable single approval modes which allows them to create and approve projects or envelopes using standard approval flows. Subsequently, they can create smaller capex request at a level below and bypass the standard approval process. For instance, once a project valued at $100K is approved through standard approval flows, users with specific permissions (e.g., a project manager) can create multiple capex requests, up to the approved $100K, without needing additional approval. Of course, the key phrase here is ‘users with specific permissions’. To support this, Capexplan includes a complete series of functions related to Assignees. These are users that you assign to specific capex projects and provide them with specific permissions for those projects.

Capex and Opex Tracking

Tracking Capex Projects is a crucial part of the Process. Depending on the nature of the Project, it may contain only Capex elements. But it may also contain a mix of Capex and Opex elements. Capexplan simplifies the tracking of both Capex and Opex, whether separately or combined. Companies can enter their costs directly into Capexplan. However, they can also use the more common method of integrating with their ERP systems for the automatic collection of Tracking Costs. This includes Purchase orders, Receptions, and Invoices. Users can also track Costs within individual Stages if they are using a Stage Gate Process. This allows them to monitor their Costs per Stage and consolidate them for the entire Project. Managers are then able to have an overall view of their Projects via the Report Generator. They can also create views in their custom Dashboard.