Approvals

Introduction

Speak to any accounts team and they will tell you approval processes can be a big pinpoint as they are often not traceable, slow, and ill-defined, especially if they are paper-based. Cloud accounting solutions remove problems using a clear, automated process, saving time, and increasing productivity.

Typical Problems

Having to print out invoices which sit on approvers’ desks is often forgotten and causes delays and avoidable communication issues and frustrating email chains.

The complexity of approvals can change as your business grows, moving from monetary values, which a lot of systems allow for, and a lack of multi-tier approvals too. No ability to change to a budget holder or specific manager.

Finding what stage approval is at in any process can be incredibly painful and the lack of reporting causes duplication of effort and resources.

Solutions

Cloud accounting solutions allow for the full automation and customisation of the approval process.

The ability to have multi-tier, multiple approvers, not just a monetary value ensures your system can grow with the business.

At a glance, the finance/management team can see what stage the approval is at and with whom it is sitting.

Benefits/ROI

Automation of a manual process will make approvals, once a time-consuming necessity, a breeze. Each step of the process will seamlessly flow into the next, improving the efficiency of the business.

Complex approval processes will be easy to configure, allowing you to set up multi-tier approvals, with multiple stages, allowing the accounting system to grow with the business.

Powerful cloud reporting will allow automation of reports to approvers, meaning monthly, weekly, or daily reports to be in their inbox, advising them of the approvals that they still have outstanding, further automating the process and increasing the productivity and efficiency of your business. The traceability of the entire process is at your fingertips, or in your inbox, whenever you need it.