Capital Appropriation Requests

Capital Appropriation Requests affect your organization’s spending and budgeting processes.

Before being approved, these requests are checked for expenditure type, budgeting constraints, and an individual’s spending limit.

Financial professionals at your company oversee approval processes for

• Capital Appropriation Requests (CAR);

• Capital Expenditure (CAPEX) Tracking;

• Purchase Requisitions (PR);

• Purchase Order (PO) Processing;

• Handling of Accounts Payable (AP);

• And more...

The Challenges

Tracking users’ spending limits, the required approvals and the status of requests can be very complicated, especially if the requests are on paper. Financial professionals at your organization may have resorted to ad hoc methods, including the use of Excel, to keep track of the approval processes.

If your company’s capital appropriation requests are still paper-based and manual, then getting approvals for them can present many challenges, among them:

• Misrouted CAPEX'es, leading to delays in approval;
• Approvers struggling to determine the next step in the process, and worse, what to do if a request is not approved or additional information is requested before approval;
• Incorrect information in a request, which result in accounting inaccuracies and auditing problems;
• Bottlenecks caused by approval requests sitting in someone's email or being assigned to someone out of the office;
• A lack of accountability and reporting;
• A manual routing turnaround of days, weeks or more.

The iMarkup Solution

The solution to these challenges lies in using the iMarkup Server to provide process automation and reporting. It can automate all of your approval processes, provide instant visibility, and ease an approver's workload. Automation provides a consistent method for routing and tracking the flow of your requests.

With the iMarkup Solution, your organization's capital approval processes will benefit from

• Initiators who can track their requests from start to finish;
• Automated consistent and accurate routing to ensure approvals are obtained for each type of request;
• A reduced workload for your approvers by using email notifications and online eForms to present information in a concise manner;
• Dynamic routing of requests based on the initiator’s role, the dollar amount, the type of purchase and the approver's individual spending limits;
• An archive of all forms, document attachments and electronic signatures that are easy to locate, even years later;
• 100% accuracy of all the information entered on a CAPEX, CAR, PO, etc.;
• Approvers who do not need to be concerned with where to send a request next, or where to route a rejected request;
• Unnecessary data input and approvals that are not needed.

Reference Accounts

Don’t just take out word for it. Contact us to speak with our clients about how they handle their Capital Appropriation Requests (CAR), Capital Expenditures (CAPEX), and PO Processing with the iMarkup Server.

For more information on how iMarkup Solutions can help you manage and automate your Appropriation Request processes, contact us to schedule a web demo.