Capital Expenditure Requests

“Our CEO approved his very first CapEx request from his mobile device.”

Ken Richardson, PCI Pharma Services

CapEx requests are often handled in a manual, inefficient, and error-prone manner. Automating the CapEx process should be the goal of any finance department.

Nutrient Workflow is the only CapEx workflow and CapEx approval software that allows users to easily define, build, and publish a customized capital expenditure request process within an intuitive interface. Have a new, customized ****** CapEx Request approval process ****** up and running within weeks, not months .  Also known as “Capital Acquisition Request” or “Approval for Expenditure.”

Try our “CapEx Automation Walkthrough” **** to see how automating the CapEx/AFE process ensures efficiency and accuracy when making critical purchase decisions.

By using Nutrient Workflow’s capital approval workflow management software to design custom capital expenditure processes, our clients have significantly improved the CapEx request approval process and reduced their CapEx approval cycle times by up to 35%. While providing unprecedented transparency into the entire process. Requesters can track progress, managers can make informed decisions, and auditors have a complete, automatically-generated audit history.

Our customers are keeping their CapEx projects and expenditures aligned with their enterprise capital financial strategies and objectives. They’re clearly improving the management of their enterprise cash flow across the organization.

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Key Features of CapEx Request and Approval Software

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Organizational hierarchy-driven CapEx approvals

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Sequential or parallel approvals

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Manager approval by email or mobile device

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Escalations based on inactivity

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Escalations based on due dates

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Add file attachments

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Complete audit trail

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Manager-driven re-routing

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Designated alternate approvers

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Route by amount, department or any CapEx data

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Ad-Hoc approvals

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Accounting system integration

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Benefits of Using Automated CapEx Approval Software

Productivity/Efficiency

• Reduction in expenditure request, review, and approval time

• Streamlined and standardized request processes across multiple divisions

• Review and approve/manage requests from any mobile device

• Easily attach supporting documentation

Compliance

• Elimination of error-prone spreadsheet CapEx/AFE and OpEx approval systems

• Provide a clear audit trail that’s easy to understand and manage

• Enable regulatory compliance and adherence to company policies and procedures

• The establishment of a multi-tiered process definition provides security for sensitive data

Reporting and Visibility

• Report on the efficiency of the process overall or for individual requests

• Provide a transparent view of the process and current status

• Compare planned spend vs. actual spend

• Identify bottlenecks and implement corrective action

• Easily incorporate data into balance sheets and income statements and cash-flow projections

Example of a forecasting report in Nutrient Workflow (Click for Larger).

Integration

• Integration with financials in existing ERP and ERP systems

• Populate forms with data from existing enterprise systems

• Embed CapEx forms and tracking into existing intranets or Websites

We have a template for that! Get a headstart on automating your CapEx Process with our CapEx process template. Just import the template, customize, and launch your new process.

Check Out the Template

Read how Baylor University and British Petroleum use our CapEx approval solution for capital expenditure request management.

CapEx Approval Process  FAQ

• What is capital expenditure approval software, and how can it benefit my organization?

• How does Nutrient Workflow’s CapEx approval software integrate with our existing systems?

• What are the key features of Nutrient Workflow’s capital approval software?

• Can Nutrient Workflow’s CapEx software be customized for our specific approval process?

• How can CapEx approval software help reduce errors in the approval process?

Nutrient Workflow Is More Than Just Software

Sure we have a great software product, but we also have a great service team that can drastically reduce your implementation time. Our experienced consultants have built CapEx workflow solutions for the biggest companies in the world. That means that if you need help with planning, best practices, process design or you want us to build everything, we can. In fact, we’ll even build a prototype of your process in our system that you can evaluate for 30 days.

Get Started with the Best CapEx Approval Software Today! Contact us to get a free demonstration of how Nutrient Workflow can streamline your CapEx Request process and provide actionable analytics.