Due to the large dollar value associated with capital expenditures (CapEx), a tremendous amount of preparation work is required to build the business case to justify the project or purchase. Such applications often need to be supported by engineering or market studies and contain detailed cost estimations with ROI calculations to justify the business case.
In addition, the CapEx approval process can require many different levels of approval ranging form Engineering Services to Board level approvals for high priced items. CapEx applications are also subjected to longer than normal approval cycles which could extend for many months adding to the complexity. In cases where these processes are manual and paper based, it is not uncommon for applications to go missing or get stuck in the approval process for unacceptable periods of time and our CapEx Software Solution solves this problem.
The benefits of an automated CapEx Request Software Solution include:
- Speeds up the approval process significantly as no manual routing is required
- Improve productivity by eliminating routing errors and reduce exposure to logistical challenges.
- Provides a single view of all CapEx Requests pending approval or completed
- Automatically archiving processed CapEx Requests for later reuse
- Electronic escalations can ensure CapEx Requests meet board approval schedules
- Ensured process compliance with audit reports
- Improved accountability and visibility of the approval process
Our CapEx Request solution uses proven technology such as SharePoint, InfoPath and K2. The solution is also fully configurable, completely open, extendable and supported. It is also REUSABLE and features include:
- The CapEx Request Form template
- CapEx Process Template
- Centralized electronic task management with notifications and multilevel escalations
- Graphical real-time process status with reporting and auditing capabilities
- Delegation of authority with Out of Office capability
- Archiving of processed CapEx Requests for later reuse
The image below shows a typical CapEx process followed by most companies. The process shows a typical CapEx process followed by most companies. The process can easily be modified using Drag & Drop techniques to suit any specific workflow requirements or additional approval levels based on business rules.
The CapEx Process Template is fully customisable to suit your process and full version history is maintained.
The CapEx Form Template is fully customisable and is version controlled.
Reporting and Tracking Features for CapEx Solution
The CapEx Solution has real time reporting capabilities which can pinpoint the status of any requests.It is also possible to produce customized lists containing process information allowing users toapply filters or export into Excel for further manipulation or reporting.
Financial and process information on the Capital Request process can be exported to Excel for further reporting.
System Requirements for the CapEx Software
- SharePoint 2007 (any version) for the onboarding site template
- Microsoft SQL Server 2005
- Windows Server 2003
- Microsoft InfoPath or InfoPath Forms Services for the onboarding Template
For pricing and deliverables, please click here