TUTORIAL - How to: set up an

NEW RELEASES - Updates and

@ApprovalMax

Konstantin Bredyuk, CEO and Co-Founder, ApprovalMax

As an experienced BPM expert, Konstantin has a strong focus on design and development of Business Applications which support Human Workflows. He is Co-Founder and CEO at ApprovalMax, known for simple and easy to configure approval workflows in finance.

How to: Set up an End-to-End Purchasing Workflow in ApprovalMax

Purchasing usually comprises a set of procedures overseen by the operations department. However, accounting teams are often also part of purchasing activities, especially when it comes to establishing compliance and accountability for the entire process. Capable purchasing software provides for the relevant requirements, and also promotes higher process efficiency and transparency for accounting...

The ApprovalMax

purchasing solution takes care of Purchase Order creation, Purchase Order approval and its submission to the supplier, Bill review and approval, and most importantly, the matching of each Bill with the corresponding PO plus Bill authorisation.

Key capabilities of the solution include: multi-step and multi-role approval workflows for both Bills and POs that enable the setup of rule-based conditional, sequential, and parallel approvals as well as a flexible definition of authorisation levels. Automatic notifications keep Approvers up-to-date and on track while real-time report views enable tracking the approval progress and help identify approval process bottlenecks. The approval history is fully audit-ready with detailed data on Approver names and dates.

How it works

Setting up Approval Workflows for POs

Purchase Orders are created in ApprovalMax via the web or native mobile app Guardrails for PO creation determine order parameters such as inventory items, suppliers, tracking categories, and accounts Purchase Order routing is done based on the workflow settings defined by the finance manager Approvers receive approval requests including all the related information, either in the PO fields or as attachments Approval is performed via the web or mobile app; in case of rejection, a comment can be provided for the Requester Purchase Orders are automatically sent to the supplier, and a copy is created in the accounting platform for the corresponding Bill processing

Bills are created in your accounting software or pushed to it from an OCR system ApprovalMax pulls all Bills with the status “Pending approval” and initiates the approval process Each Bill is routed according to the workflow settings and assigned to the appropriate manager for the defined authorisation level Approvers receive approval requests including all the related information, either in the Bill fields or as attachments On its approval via the web or mobile app, the Bill is assigned the status “Awaiting payment” and the accountant is notified about the approval An audit report is created for the approved Bill, including the Approvers’ names, dates, etc.

Setting up Bill to PO Matching

The setup of the Bill to PO matching is part of the Bill approval process.

Granular Settings for Bill to PO Matching:

1. There is a setting to enable Bill approval even if the

Bill has not been matched with the corresponding

PO(s). This option is amount-based and the

Administrator can set an amount limit to determine when a Bill can only be approved once it’s been matched with the corresponding PO(s). 2. Another setting regulates if Bills can be approved even if the Bill amount exceeds the initial amount in the PO(s). This setting is also amount-based and the

Administrator can set an amount limit to provide for the approval of Bills that exceed the amount in the

PO(s). 3. A third setting regulates if a Bill can be matched with

POs that were issued later than the corresponding

Bill. This setting works as a yes/no function. ApprovalMax reports present all Bill to PO matching significantly and help to provide proof that all paid Bills

Exception Handling

Non-standard approval scenarios are supported, such as delegating approval requests, setting a default approval action, forcing the approval decision, and

Marking POs as Billed

When all Bills have been received, both the Requester and Administrator can mark the corresponding POs as billed. This enables searching and tracking open Purchase Orders.

Reporting

data. These reports simplify being audit-ready revoking an approval.

are in accordance with the corresponding POs.