Authorization for Expenditure (AFE) | Authorization for Approval
Authorization for approval software that simplifies and streamlines workflow for expenditure submissions and approvals.
“Our CEO approved his very first AFE approval request from his mobile device.”
Ken Richardson, PCI Pharma Services
Integrify is the only workflow and approval software that allows users to easily define, build, and publish customized Authorization for Expenditure request processes within an intuitive interface. Have a new, customized AFE approval process up and running within weeks, not months. Build AFE forms with business logic to route requests by amount, type, urgency, division, role, etc. With Integrify, your processes and forms are defined by you, not us.
Note: Also known as "Capital Expenditure Requests" or "CapExProcurement Process."
Try our "CapEx/AFE Automation Walkthrough" to see how automating the AFE process ensures efficiency and accuracy when making critical purchase decisions.
By using Integrify's Workflow Management software to design custom expenditure authorization for approval processes, our clients have significantly improved the AFE approval process and reduced their approval cycle times by up to 35%. While providing unprecedented transparency into the entire process. Requesters can track progress, managers can make informed decisions, and auditors have a complete, automatically-generated audit history.
Our customers are keeping their capital projects and expenditures aligned with their enterprise capital financial strategies and objectives. They’re clearly improving the management of their enterprise cash flow across the organization and making procurement teams more effective.
AFE Request Software Features |
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Company hierarchy-driven approvals |
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Sequential or parallel authorization processes |
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Approve by email or mobile device |
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Set escalations, alerts, and reminders |
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Use prefilled and dynamic form fields |
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Add file attachments of any kind |
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Review a complete audit trail for every request |
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Design executive dashboards to track performance |
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Designate alternate/backup approvers |
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Route by amount, department, or any other AFE data |
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Perform Ad-Hoc approvals |
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Integrate with accounting, ERP, CRM, and other systems |
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Benefits of an Automated Authorization for Approval Process
Productivity/Efficiency
- Reduction in CapEx procurement request, review, and approval process time.
- Streamlined and standardized supply chain processes across multiple divisions.
- Review and approve/manage requests from any mobile device.
- Easily attach supporting documentation.
Compliance
- Elimination of error-prone spreadsheet systems.
- A clear audit trail that's easy to understand and manage.
- Enable regulatory compliance and adherence to company policies and procedures.
- The establishment of a multi-tiered process definition provides security for sensitive data.
- Purchasing safety and effectiveness.
Reporting and Visibility
- Report on the efficiency of the process overall or for individual requests.
- Provide a transparent view of the AFE process and current status.
- Compare planned vs. actual spending.
- Identify bottlenecks and implement corrective action.
- Easily incorporate data into balance sheets and income statements and cash-flow projections.
Integration
- Integration with existing financials in existing ERP systems.
- Add additional functionality via plug-ins.
- Embed AFE forms and tracking into existing intranets or Websites.
Planning an AFE Automation Project
Most organizations already have a process for managing expense requests although common questions about those processes tend to be:
- Is it formalized and standardized across the organization?
- Is it consistently used?
- Is it efficient and expeditious enough?
- Does it provide enough visibility during and after a request is submitted?
- Is everyone adequately involved and collaborative?
While automating your AFE/CapEx process can resolve all these questions affirmatively, getting from what you have to do what you want requires thoughtful planning and implementation.
Some tips for preparing for automation:
- Document Your Process
- Eliminate Tribal Knowledge
- Create an Approval Matrix
- Design Request Forms
- Use Task Reminders and Alerts
Integrify Is More Than Just Software
Sure we have a great software product, but we also have a great service team that can drastically reduce your implementation time. Our experienced consultants have built AFE workflow solutions for the biggest companies in the world. That means that if you need help with planning, best practices, process design or you want us to build everything, we can. In fact, we'll even build a prototype of your process in our system that you can evaluate for 30 days.
Watch Integrify in Action
Read how Baylor University and British Petroleum use our approval solution for AFE request management.
Contact us to get a free demonstration of how Integrify can streamline your Authorization for Expense Request process and provide actionable analytics.
Interested in Automating Your AFE Workflow?
We have a variety of resources to help you on your journey to automated workflow.
See Integrify's AFE Solution in Action!
Streamline your AFE and other finance approval processes by making them smarter with Integrify.
Watch our full CapEx/AFE Automation Demo Video
Get our eBook to learn how to prepare for automating your Capital Expenditure or AFE process.
