ApprovalPlus is an innovative workflow solution that enables tight control of an organisation's Procure to Pay process. With improved controls, appropriate delegated authorities and more visibility across the Procure to Pay process, businesses can have improved confidence that correct staff actions are being carried out with fewer errors, greater efficiency and less opportunity for fraud.
ApprovalPlus supports leading practice across the Procure to Pay process enabling organisations to prove both to themselves and their auditors that tight financial controls are evident.
ApprovalPlus can streamline processes and procedures, reduce paper work and reduce non value add activities – allowing organisations to do more with less. It delivers a quick and efficient Account Payable process to the organisation.
Additional functionality:
- A fully functional Purchase Order module, allowing for electronic ordering from suppliers
- Corporate Card Approval Processing – allowing for the import of transactions from spend card suppliers (Credit, Taxi, Travel Cards)
- Project Management module – approve project spend and details, then control how purchase orders are created and managed within a project budget
- For even more efficiency, Fusion5 can add an OCR (Optical Character Recognition) service onto the ApprovalPlus system, cutting processing time dramatically
Easily integrated with most finance systems, ApprovalPlus converts the inefficient, manual processes across Procure to Pay into efficient, streamlined electronic processes.
ApprovalPlus allows organisations to tighten the controls on organisational spending. This includes the ability to set delegated authorities per business unit, authorise purchases before placing the order, and allows for separation of duties.
Reduce Risk of Fraud
Having tight controls, clear audit trails, better visibility of information and allowing for checking of other's work reduces the opportunity for fraud being initiated.
Remove the Paper Mountain
Handling large numbers of paper invoices often means storage boxes, shelves with files that have to be put away manually and often high costs to send away or retrieve information. ApprovalPlus allows for online storage of invoice documents, saving time and money, as well as providing easier access to information for business users.
ApprovalPlus allows organisations to remove the manual pushing of paper around the organisation, avoid losing paper in the internal mail or lost on managers desks. ApprovalPlus also automates the communication to remind users of tasks needing their attention or simply finishes off a process automatically when someone in the business completes a task.
Enhance Audit Compliance
With ApprovalPlus organisations can track who has authorised invoices, monitor changes in delegated authorities, ensure each invoice has been compared with delegated authority checking rather than a sample check, and have a strong audit trail for transactions.
Accurate Commitment Tracking
Keeping a track on what the business has committed itself with purchasing is easy with ApprovalPlus. Organisations can use standard reports to see what is in progress or to accrue commitments at month end.
Other benefits of ApprovalPlus include:
- Provides quick, online access to invoices for all approved users in your business
- Requires minimal staff training
- Decreases paperwork and on-site storage requirements
- Provides transparency at every step in the process
- Comprehensive view of invoice status
- Accrual provides accountability
- Information at your fingertips
- Can be integrated with most financial systems
- Excellent Customer Service from the initial implementation
- A sound project framework – with excellent structure and realistic timelines
- Excellent communication
- Adhered to deadlines
- Rapid response to all enquires whether technical or business throughout the project and beyond
The proof of this was that we experienced no major issues with the implementation and acceptance of this project by all Toyota Users."
Barbara Rees, IS Development, Toyota New Zealand.
For further information on our ApprovalPlus offerings please contact Bevan Wright +64 (4) 473 4552.