The new ApprovalMax Advanced plan has additional features to improve the processes for spend control and supplier vetting as well as help AP and AR approvers do their work more efficiently.
ApprovalMax – the award-winning approval automation app for Xero and QuickBooks Online – introduces a new plan for organisations that require a higher level of control and have special policies for budget control and supplier vetting in place. It also significantly increases the efficiency of approval processes by automating certain parts and providing approvers with convenient tools.
Features available in the Advanced plan include:
The Budget Checking functionality improves spend control and saves time because approvers get a clear real-time overview of all budgets impacted by the documents they are approving. They can view the respective budgets right next to the documents waiting for their decision. Budgets are synchronised in real time and approvers can see which documents have already affected a specific budget. ApprovalMax uses account codes and document dates to pull the relevant budgets for each of the line items in a document under approval. This feature is only available for Xero.
The Supplier Approval workflow automates the supplier/vendor vetting process, which often involves various departments such as finance, legal, security. That’s why organising it in a way to get all necessary approvals and the new supplier confirmed on time is a lot of effort. With this new workflow, Requesters enter the supplier data and then the supplier approval request goes automatically through all required steps while timely notifications are sent to the respective approvers. Once an approval is complete, all steps are logged in an automatically generated audit trail.
When there are lots of expenses of various types, it doesn’t make much sense to approve regular or minor expenses manually – no matter how easy approvals with our mobile app are, approvers still need time to go through all the invoices. Even worse, it’s harder to focus on those documents that do require attention when you’re already tired from going through plenty of “no brainer” ones, like utilities. The Auto-approval feature saves approvers a lot of time and helps them focus on what’s really important because all documents that meet the conditions you specify in the auto-approval step will be authorised automatically and not assigned to anyone.
ApprovalMax automates the approval process for AP and AR. It replaces paper- and email-based approval routing with fully automated and easily configurable approval workflows. Together with other efficiency apps for Xero and QuickBooks Online, ApprovalMax increases team productivity in accounting and enhances client collaboration.
The key functionality of ApprovalMax includes: flexible approval rules of any complexity, an option to authorise requests from the email notification, automated tracking of all approval-related activities with audit trails and detailed audit reports. The mobile app facilitates the review and approval of bills and expenses on the go in real time.