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.
The Best Business Process Management Software in 2023
CMW Platform is rated #1 BPM suite in 2023 to start your business automation.
Have a new, automated CapEx approval process up and running within days, not months.
Get advantage of on-the-fly changes to request-forms and automated CapEx approval workflows:
Easily design CapEx request forms and standardize request preparation:
Improve team communication and collaboration thanks to a single work environment for employees, automated workflows, documents and knowledge.
Identify CapEx management bottlenecks and implement corrective action in time:
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:
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:
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:
Seamless integration with existing ERP systems and other corporate applications allows you to maintain data integrity and optimize operational efficiency. Capital Expenditure Management with ERP integration brings improvements in data integrity, speed, strategic focus, accountability, cost effectiveness, and adaptability.
The process optimization enables the solution of more general "hot-spot" problems, including various complex queries. Convenient tools for creating and routing requests simplify the process of submitting and processing applications for statement. In addition to its obvious benefits for internet search engines, CapEx is also useful for internet marketing and content delivery networks.
Process Automation software not only provides you with Expense Tracking, but also results in cost reduction associated with manual control and processing of applications, which ultimately reduces overall operating costs. This is achieved by reducing the time spent to process applications and decreasing the number of errors, which may lead to additional costs.
A unified platform for storing and managing data makes it easier to get access to the necessary information and speeds up the process of decision making via workflow automation. This fixes the problem of data fragmentation and provides a unified information space for all participants of the whole process. As a result of this digital transformation the team can respond faster to changes, make more informed decisions and carry out their duties effectively.
Hertz has leveraged CMW Platform 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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