Features and functionality
For the hotel industry, efficient management of capital expenditures is crucial for increasing operational efficiency, retaining competitive advantage, and improving guest satisfaction. However, capital expenditure management is challenging, especially if your approval process is still paper based.
Whether it’s upgrading the hotel lobby or refurbishing kitchen facilities, managing the associated budgets, supplier quotes, business cases, vendor contracts, invoices, and tracking approved proposals manually on paper is inefficient and lacks visibility.
Solutions like eCapEx help capital-intensive industries such as hospitality automate the full CapEx lifecycle – including budgeting, prioritisation, approvals, and post-investment reviews.
Early collaboration with colleagues to identify CapEx needs and submit new ideas/wish list proposals for early consent.
Prioritise projects based on strategic alignment, risk profile, or financial metrics.
Evaluate and rank preliminary ideas based on weighted scores.
Create/import and collaborate on budgets based on your prioritised list of projects.
Import budgets at the beginning of the financial year, assign them to business units and asset categories, and then adjust, claw back, assign (and reassign) throughout the year.
Submit requests electronically with built-in logic and real-time data validation to ensure they are consistently evaluated and aligned with corporate strategy.
Effortlessly assign capital expenditure requests to budgets or predefined projects.
Automatically route capital expenditure requests through an approval, rejection, and clarification workflow.
Send notifications as each step starts and periodic reminders when necessary.
Manage your entire CapEx portfolio in a single platform, eliminating data siloes across the organisation.
Get real-time visibility of project status and budget consumption.
Once an initiator raises a request, they have complete visibility over where it is, who it is with, and how long it has been with them. The initiator can, if necessary, nudge the right person because they know who has it.
Analyse project ROI to enhance future investments and prioritisation.
Automatically alert users to complete a new tab on the CapEx request after a period of time. A simple follow up could ask a user to confirm if the request was completed alongside a completion date, final costs, and details. However, a more detailed PIR could include original objectives/forecasts, actual outcomes, and lessons learned.
Millennium Hotels and Resorts
Seeking to improve the controls around CapEx projects, Millennium Hotels and Resorts implement cloud-hosted CapEx approval software to manage their annual hotel CapEx budget.
Aman Hotels
Aman Hotels is one of the world’s most pioneering lifestyle brands.
The company, with 35 hotels, resorts, and residence developments in 20 countries, have automated their worldwide request for approval (RFA) and CapEx approval process with eCapEx.