CapEx Automation Walkthrough

Automating the CapEx/AFE process ensures efficiency and accuracy when making critical purchase decisions.


 

capex automation illustration


Think about how your Capital Expenditure or Authorization for Expense request process works. Is it streamlined? Is it predictable? Integrify's ability to automate the manual tasks involved in your CapEx/AFE process makes both of these things possible. Let's walk through how it works.


Every capital expenditure request process begins with a form. In our example for the company Graysmith, here's what their form looks like.
 

Capital Expenditure Form Example

Once the form is submitted, it's then routed based on Graysmith's custom-built workflow. Here's what Graystone's routing looks like.
 

CapEx AFE Process

In Graysmith's process, the first approver is the Facilities Manager. He'll receive a notification in the system as well as via email. The contains important information about the request including any supporting documentation.
 

automated capex email notification


The Manager can approve or reject the request right from the email by clicking a link a the bottom. He can even send it back to the requester for re-work with a click.

approval by email

As the request moves through the process, all the details about what was submitted, what actions were taken, and what comments were made are captured.

request detail for afe

The CapEx request will continue through the review and approval process until it comes to a decision point based on the amount being requested. If it's over $1M it requires sign-off from the CEO. As you may recall, this request is for $750k so it can continue on.

Once the request gets all the way through the approval process the requester is alerted that it's been approved and the finance system of record (in this case SAP) is updated with the information. Finally, the requester is alerted that the expense has been approved.

request integration with SAP

All requests have been aggregated and can be reported on through reporting dashboards. Graysmith publishes performance reports for managers to see right in their self-service CapEx request dashboard.

capex performance dashboard


As you can see, automating CapEx with Integrify:

  • Streamlines the entire process

  • Ensures predictability and

  • Captures all activity for reporting/auditing.


Find out more about the benefits of automating your CapEx process or get a demonstration.

 

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