CapEx Approval Management

CapEx Approval Management

A flexible CapEx approval management software for safeguarding investments and shortening CapEx cycles. Get the process automated within hours, ensure that each CapEx request is tracked and under your full control.

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Why to create a resilient CapEx approval process?

While investors and financial consultants analyze PP&E balance and its impact on the cash flow rigorously, it becomes #1 priority each CapEx request is being tracked and under control to  safeguard  a company’s  shareholder value. Starting from the request receipt, its approval over different departments and further expense or capitalization of the investment, the process should comply with the company's policies, be transparent and error-free, so that capital assets are not- or over-invested.

CMW CapEx Management software extended with OpEx management functionality is designed to empower enterprises  for a full control over capital expenditure  to maintain assets growth.

Why a CMW CapEx solution?

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Key CMW CapEx management tool features

Automated CapEx Approval Process

Have a new, automated CapEx approval process up and running within days, not months.

  • Full automation and elimination of error-prone spreadsheets/email process tracking
  • Friendly workflow editor for hierarchy-driven approvals design and Business Rules setup
  • Timely and accurate approval request routing and notifications
  • Sequential or parallel approvals
  • Escalations based on inactivity and due dates
CapEx Request

Agile Workflow and Ad-Hoc Approvals

Get advantage of on-the-fly changes to request-forms and automated CapEx approval workflows:

  • Designated alternative approvers
  • Manager-driven re-routing
  • Request route by amount, department or any CapEx data
CapEx approval workflows

Unified CapEx Request Submissions

Easily design CapEx request forms and standardize request preparation:

  • Graphical form builder available via any web browser
  • Configurable tabs and data fields
  • Standardized request processes across company divisions
  • Changes to forms during workflow execution
  • CapEx data export to MS Word and MS Excel
CapEx Approval Process

Team Efficiency

Improve team communication and collaboration thanks to a single work environment for employees, automated workflows, documents and knowledge.

  • Manager approval and request management by email or from mobile interface
  • Easy attachment of supporting documents
  • Centralized data and document management for CapEx process
  • Out-of-band integration with Outlook, SharePoint and Active Directory
CapEx and OpEx

CapEx Approval Process Transparency and Compliance

Identify CapEx management bottlenecks and implement corrective action in time:

  • Transparent view of the CapEx approval process and current status
  • Comparison of planned expenditure vs. actual spend
  • Reports on efficiency of process overall or for individual CapEx approval requests
  • Clear, automatically-generated audit trail
  • Visualization for sophisticated CapEx management process
  • Integration with 3-rd party accounting and ERP systems as well as data export and import to ensure accuracy of company balance sheets and income statements.
CapEx management

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CapEx Approval Process FAQ

We recommend you to begin with evaluating your current process, identifying bottlenecks, roles and responsibilities. As soon as you agree on the process in-team, you may choose CapEx tools for automation. CMW CapEx solution is customizable and user-friendly, letting you implement a new automated process within days. If you face any issues with evaluating your current process, do not hesitate to contact us, as our analyst team can provide you with full support throughout the process.

As CMW Tracker is a flexible and fully customizable BPM software, you may receive your CapEx process automated within days, not months. Depending on the complexity of CapEx approval and other internal processes you have, it may take up to 30 days.

Usually, the following sub-processes are critical for automation:

  • CapEx request submission and approvals
  • CapEx data and document management
  • Request routing and task hand-overs’
  • Team communication and collaboration
  • Notifications and reporting

An agile capital expenditure approval process and transparent operation expenditure management are keys to cost containment and optimization.

Managing and tracking CapEx requests and approvals through lengthy email strings, paper trails or static spreadsheets can lead to loss of critical information, visibility and control. Here is a short list of common CapEx approval management challenges that can be solved with CMW CapEx solution:

  • Manual, non-standardized processes
  • Missed deadlines and inaccurate request routing
  • Unproductive communications and emails
  • Multiple errors, duplicating or missing request data

Workflow software successfully replaces manual CapEx approval processes by automating task flow and ensures faster approval process.

Effective CapEx communications ensure lower operating expenses and help businesses with increasing overall value. Utilizing a proper CapEx approval solution will help with:

  • Recording and monitoring CapEx budget request to actual spend
  • Tracing back to CapEx performance commitment (e.g. expected ROI / cost reduction, etc.)
  • Linking CapEx system information with purchase or assets management system
  • Optimizing company’s daily spends and significantly
  • Increasing the accuracy, transparency and efficiency of your capital expenditure approval process
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Implementation example

Hertz has leveraged CMW Tracker to create a modern CapEx approval application, which replaced complex Excel files. Thanks to process automation the rental car company dramatically reduced the expenditure approval cycle time, decreased operational expenses and minimized financial risks. Get our PDF Case Study to learn more about Hertzs objectives, approach, solution and results.

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In Cloud & On-premise

In Cloud & On-premise

CMW Lab® provides both on-premise and in Cloud deployment options. Besides, flexible transition between cloud-based workflow solution and on-premise one can be rolled out if needed. Deployment options

API and Integrations

API and Integrations

CMW Lab provides wide workflow integration capabilities.Take advantage of bidirectional integration scenarios, s support for both fine grained, and bulk export operations – all available through Web Services open API’s and built-in enterprise services. Integration capabilities

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Run your workflow seamlessly on your desktop computer, iOS and Android phone or tablet and enjoy fully consistent user experience.

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