ApprovalMax Unveils Advanced Budget Control
ApprovalMax, an approval automation app for Xero and QuickBooks Online, has introduced a new plan for organizations 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.
ApprovalMax was built to automate the approval process for AP and AR. It replaces paper- and email-based approval routing with fully automated and configurable approval workflows. Together with other efficiency apps for Xero and QuickBooks Online, ApprovalMax increases team productivity in accounting and enhances client collaboration.
New features available in the Advanced plan include:
1. Budget Checking
The Budget Checking functionality is designed to improve spend control and save time as 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 synchronized 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.
2. Supplier Approval
The Supplier Approval workflow automates the supplier/vendor vetting process, which often involves various departments such as finance, legal, security. 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.
3. Auto-approvals
The new auto-approval feature was built to saves approvers a lot of time as all documents that meet the conditions user specify in the auto-approval step will be authorized automatically and not assigned to anyone.
See the prices for Advanced plan here