Automate CapEx lifecycle with capital expenditure approval software

Create/import CapEx budgets for the financial period and assign them to business units and asset categories with mid-period revisions available.

Link requests to uploaded budgets.

Track actuals vs forecast and closely monitor the remaining budget in the period, including any unplanned deviations at the project level.

Outline the expected phasing of capital expenditure spend across the financial year for accurate cash flow forecasting.

Compare investments over multiple-year periods.

Get notified if your capital expenditure request will result in overspending and overruns.

Dynamically adapt approvals based on remaining budget status.

Carry forward and re-assign the remaining budget into the next financial period.

Re-allocate budgets for emergency requests.

Handle various payment types such as CapEx/OpEx, write-downs, disposals, multi-year leases, acquisitions, new-hire, and legal settlements.

Manage all budget types e.g. budgeted, unbudgeted, overrun/variance, and reassignment (to another business unit/department etc.)

Eliminate spreadsheets and email approvals and create compelling business cases with standardised CapEx and OpEx request templates.

Show/hide questions, lock fields, add skip logic, set mandatory/optional fields, and pre-populate fields, all based on conditional rules.

Highlight invalid fields and automatically validate data on input and/or submission.

Auto-calculate amounts and prioritise projects based on IRR, NPV, payback period, EVA, RONA, Hurdle rates etc.

Show figures in your local currency and global currency.

Automatic translation of capital expenditure approval form templates and user interfaces into your local language.

Upload attachments of any format (XLS, DOC etc.) to support the capital expenditure request e.g. supplier quotations etc.

Add images (JPG, PNG etc.) to the investment request to provide evidence.

Save partially completed request forms and submit them later when further information is available.

Lock down capital expenditure request and justification forms with users no longer able to edit or modify the data.

Add quotes from potential vendors. Select a pre-approved vendor from the drop-down list or enter the supplier name, amount, notes, and reason for choosing the supplier.

Add additional rows as necessary (e.g., mandatory for three quotes).

Escalate urgent/emergency requests via a modified workflow for prompt review and approval.

Display the current budget position by business unit and category, showing the amount approved/available for the current period.

Highlight to the initiator/approver if the requested amount exceeds the remaining budget.

Show the estimated approval steps dependent on the business unit, asset category, amount or any other fields and rules.

Add time-stamped notes to a capital expenditure request with the Q&As and comments visible to executives later in the approval chain.

Trigger highly configurable approval, rejection, and clarification workflows with conditions based on asset category, business unit, budgets, authorisation limits etc.

Add data integration steps to ingest data from other systems or export data to onward ERP, procurement, or purchasing systems.

Run CapEx approval steps sequentially when you need to receive one approval before another.

Execute approval steps in parallel to benefit from greater efficiency and faster approvals.

The approval workflow provides early notification if a task is predicted to be late and dynamically takes direct action, escalating or re-routing activities to account for the predicted delay.

Create separate workflows and forms but link them together under one case\project.

Consolidating related processes (e.g., CapEx approval, vendor approval, payment tracking) into a single case makes it easy to implement manageable processes individually – and yet for all the relevant parts to be viewed as a whole by the users.

From project ideation to close out, the platform connects all phases of your capital project as standalone – but interlinked – workflows and ensures the investment meets predefined criteria before moving to the next stage gate.

This supports strong governance and delivers better outcomes by allowing executives to check the business case is still viable at regular intervals.

Automatically alert users to new tasks with reminders/escalations based on inactivity and due dates.

Approvers can refer to the audit trail and previous comments associated with a capital expenditure submission when approving a request or looking back through the archives.

Notifications can include approve/reject links while replies can be automatically processed for keywords so participants can quickly complete tasks when out of the office/offline.

An iOS/Android mobile app is available.

Add custom rules to your approval workflow e.g., allow an administrator to cancel an approved request, returning the budget.

Other examples include auto-cancelling clarification or rejection steps after two weeks or purging rejected and unapproved requests over seven years old.

Configurable web workspaces are customised to different user roles and serve as the primary interface to the system.

Authorised users can initiate new workflows, view dashboards, search archived requests, collaborate with colleagues, and manage the system.

Configure and combine task lists, tabular data and chart/graph widgets to display real-time metrics about your entire CapEx portfolio such as status, cycle times, progress, and user/process performance.

This means you can track KPIs and make more informed decisions. You can also discover process bottlenecks and intervene, if needed, to keep things running smoothly.

Apply filters and drill down to display data for more in-depth insight.

Download pre-configured reports on capital spending by region, country, cluster, division, business unit, category etc. Schedule reports for automatic distribution to colleagues.

Create unlimited ad-hoc custom reports e.g. a current position report showing the approved budget against requested and approved CapEx requests.

Export data to pre-defined Excel templates for reporting and analysis or integrate with other line-of-business (LOB) or business intelligence (BI) applications.

Centralised control, security, and management of supporting documents including justifications and risk assessments etc.

Collaborate with colleagues and simultaneously author/mark up documents, spreadsheets, and presentations.