Capital Expenditure Requests

Capital Expenditure
Requests

Accelerate capital expenditure approvals with automated workflow routing and reliable decision-support metrics

Authorize Capital Expenditure with Confidence

Executives are accountable for the allocation of an organization’s human and capital resources to accomplish strategic objectives and rely on the quality of information presented and the endorsement of experts.

Stratex Online provides executives with high-quality business case metrics and an efficient workflow routing system to ensures all required specialist endorsers are involved for more timely and confident approval decisions.

Diagram showing Capital Expenditure approval at every stage with Stratex Online

Expedite CAPEX Workflows

Determine required approvers automatically and present reliable information to allow executives to make capital expenditure decisions with greater ease, speed, and confidence.

Optimize Capital Project Investment Decisions

Empower executives with comprehensive, consistent, and reliable project assessments that enable more strategic and risk-based project prioritization and capital budgeting decisions.

Comply with Delegation of Authority Policy

Ensure all the responsible roles and individuals are included consistently in the approval workflow in accordance with your procurement policies and delegation of authority matrix.

Capital Expenditure Request Process

Define your Role-Based Approval Matrix

Easily maintain approval roles and delegation of authority matrices based on approval value, investment reason, asset class, category and other key dimensions.

Route CapEx Requests Consistently at Every Stage

Ensure that the appropriate executives are consistently included in key decisions at every stage from investment proposal budgeting through to project completion sign-off.

Provide all Information to make Confident CapEx Decisions

Give decision makers all the important information including reliable financial metrics, ranking scores, supporting documents, commentaries and approval histories.

Monitor Workflow Status, Expedite and Resolve Approval Bottlenecks

Effortlessly track approval status and expedite decision-making with automated reminders, delegation, escalation, and agent redetermination.

Specify Required Approval
Roles Based on Value and
Relevant Dimensions

Organizations establish delegation of authority levels for operational expenditure and capital expenditure among executives. The involvement of certain roles is also determined by the nature of the initiative. For instance, all information technology investments may require approval from the Chief Information Officer.

Stratex Online allows administrators to easily define a delegation of authority matrix that specifies the necessary approval roles based on relevant dimensions such as project value, type, reason, class, category, and budgeted status. Individuals are assigned to these roles based on the organizational structure, guaranteeing that the right individuals are always involved.

Define Required Capex Request Approval Roles

Centralize the definition of workflow approval roles, such as the Chief Financial Officer, including approval sequence, frequency of reminders, and escalation rules.

Define Authority and Delegation Levels

Identify when a role needs to be involved in the approval based on request attributes. Including Value, Project Type, Investment Reason, Asset Class, Category, and Budgeted Status.

Allocate Individuals to Approval Roles

Assign individuals to roles, such as the Chief Executive Officer, centrally, while assigning others, like Plant Manager, dynamically based on organizational area.

Involve Key Executive at all
stage of the Project Lifecycle

Key executives may need to be involved throughout the project lifecycle from reviewing investment proposals to managing expenditure requests and providing final approval on completion.

Stratex Online ensures that the right people are included consistently at the right time in capital expenditure management process to comply with policy and make the best investment decisions.

Derive Approvers at every stage of the Project Lifecycle

Easily and consistently specify the required approvals Investment Proposals, Business Cases, Projects, Capital Expenditure, Supplements, and Project Completion.

Customized Workflow Routing

Classify your Investment Reasons (e.g. Sustenance vs Growth), Investment Types, and Investment Categories to optimize workflow routing.

Record Capital and Management Committee Approvals

Attach approval decision supporting documents such as emails or capital committee meeting minutes for audit trial purposes.

Empowering Executives with Reliable Metrics and Assessment Scores

Making decisions on high-value capital expenditure requests is challenging, as most requests that reach executive approval have their merits, but time and resources are limited.

Stratex Online equips executives with reliable financial metrics and comparative assessment scores to make faster and more confident capital expenditure approval decisions.

Reliable Assessment Scores

Incorporate reliable financial metrics, risk assessments, and strategic alignment criteria to provide managers with a comprehensive and consistent basis for evaluating initiatives.

Communicate and collaborate with all workflow participants

Ask questions and receive prompt responses from the responsible project manager and record these conversations for the benefit of subsequent approvers.

Review Options and Supporting Documents

Conveniently access detailed option comparison assessments and supporting documents directly from a centralized and secure source of information.

Manage Capital Expenditure Workflows

Over time, organizational dynamics such as changes in people, responsibilities, priorities, and processes can result in workflows becoming stagnant with the wrong individuals involved.

Stratex Online provides transparency of the approval process allowing process administrators to swiftly identify and address approval bottlenecks, ensuring that workflows progress smoothly and efficiently.

Identify and Resolve Workflow Bottlenecks and Errors

Generate reports that encompass all workflows to identify bottlenecks and inconsistencies to proactively redetermine approvers, if required, to expedite decisions.

Notifications for Capital Expenditure Approvals

Provide a centralized open task list for approvers and notify and remind them of new capital expenditure requests for approval.

Escalate and Delegate Tasks

Automatically escalate or reassign tasks to delegates in the event of approver unavailability or delayed action.

Ready to Transform Your Capital Expenditure Approval Process?

Stratex Online is a software as a Service (SaaS) solution that will enable you to accelerate and control the approval of capital expenditure requests. Stratex Online makes use of centralized role and responsibility definitions to consistently derive the right people at each stage of the project lifecycle from proposal through to capital expenditure and project completion. Executives can make strategically aligned decisions more confidently based on standardised metrics and reliable project scores. Get Stratex Online today to make sure you’re making the best capital expenditure decisions, faster and in full compliance with your procurement policies.

Our Latest Articles