Capital Expenditure

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Capital Expenditure: Asset Management Software

The Capital Expenditure (CAPEX) process can be error-prone, slow, and highly dependant on human intervention especially considering that most accounting and finance teams are buried in paper, email, and complex spreadsheets.

 

Organizations that do not properly automate their Capital Expenditure process suffer from data duplication, which often leads to many versions of the same truth. This invariably leads to poor decisions based on insufficient or inaccurate information.

 

An automated asset management software for Capital Expenditure reduces the administrative burden on accounting and finance teams and allows executives to make better use of their time and expertise.

Challenges

The following are some of the main challenges resulting from a manual capital expenditure process:

 

  • Lack of standardization leads to a breakdown of the process, expensive training requirements and a significant audit risk.
  • Untimely delays and approval bottlenecks lead to a loss of revenue and opportunities.
  • Utilizing e-mail as the primary means of communication leads to a total lack of process auditability.
  • Excessive human labour involved in managing RFP’s and multiple vendor submissions.
  • With no automation, complex approval rules cannot be consistently followed.

Solution

Intellera has the expertise needed to quickly provide solutions for any company seeking to streamline and automate their Capital Expenditure process.

 

We can help you implement a streamlined asset management software  which will enable effective management and automation of the complete CAPEX cycle from purchase to payment.

 

Our expertise in Capital Expenditure management will deliver the following capabilities to your organisation:

 

  • Controls defining budget limits based on departments and other attributes.
  • A clear audit trail of supporting documents and process steps.
  • Escalations in the case of critical exceptions.
  • Seamless integration with ERP and Financial systems.
  • Dashboards and reports giving visibility into cash flow planning.

Benefits

Standardization

Standardizing the Capital Expenditure process across the board will ensure that you maintain regulatory compliance and that your subject matter experts are better able to identify areas of risk.

 

Reductions in Approval Cycle Times

By automating the Capital Expenditure process, you will reduce approval times and better capitalize on opportunities.

 

Visibility

A fully automated Capital Expenditure process will provide management with visibility into each project and facilitate cash flow planning.

Contact us now to get started with your personalized Process Efficiency Assessment!

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