At a glance
Company Size
Large (1k - 9k employees)
Industry
Retailers
Products and Services
Sanitary products
Country
Global
Service Provided
Management Dashbaord
Client
Our US based client offers the best solutions for mechanical surface treatment. Being in the business since the 1800s, they are pioneers in embracing innovation and technology to solve real world challenges.
Requirement
Their cloud based SaaS ERP solution lacked customisation capabilities and this posed serious work inefficiencies, erratic workflow management, audit compliance issues, tracking hassles, and a lack of central documentation.
Technologies
Business Challenges
With manual CapEx management, accurate financial reporting was lacking and the management team did not have visibility into fund allocation. Lack of an effective CapEx management system posed the following challenges:
01
Lack of Centralized documentation
CapEx requests and approvals were managed manually through spreadsheets and emails, resulting in scattered information and delayed processes.
02
Inefficient Approval Process
The manual approval process was slow and error-prone, creating significant delays and process bottlenecks.
03
Limited Visibility
Serious lack of real-time visibility into ongoing and planned CapEx projects, delaying decision making.
04
Compliance Issues
Lack of a standardized process made compliance with internal policies and regulatory requirements challenging.
05
No budget visibility
Lack of central documentation made allocation and tracking of funds tedious. Management had no way of knowing if funds were utilized or not.
Aufait Solution
By leveraging the capabilities of SharePoint, we achieved quick and hassle-free implementation of CapEx automation. The implementation provided a scalable and flexible platform that easily integrated with the client's existing ERP system.
- Automated request approval workflows
- Capex form for both budgeted and non budgeted funds
- Capture various critical details like business unit, budget descriptions, value, business case, benefits, recommendations, etc
- Capability to predefine approvals based on amount or any other parameter.
- Define approval hierarchy based on predefined conditions.
Solution Capabilities
01
Dynamic report generation
The system can generate dynamic reports providing insights into CapEx requests, approvals, and fund utilization.
02
Capture critical details of capex fund allocation
The system captures essential details of CapEx fund allocation, ensuring thorough documentation.
03
Capex approval matrix
A predefined matrix to streamline and standardize the approval process.
04
Cost Efficiency
One-time investment with very low ongoing costs.
05
Futuristic Solution
Includes e-Signature capture capability for enhanced security and compliance.
06
Assured Compliance
Easy compliance with internal policies and regulatory requirements.
07
System acts as central repository
The system acts as a central repository for all CapEx-related documents, ensuring easy access and organization. It enables historical analysis and better decision-making.
Business Benefits
Post implementation of our feature-rich, SharePoint based CapEx management system, the client achieved sterling results as listed below:
- A powerful dashboard acts as a centralized repository to submit, review, and approval capex requests
- Achieved complete automation of capex processes including capex notifications and reminders, eliminating delays and errors and improving process efficiency by 50%.
- Facilitated real-time reporting offering actionable insights into capex projects, budgets and expenses.
- Achieved easy compliance management with easily accessible audit trails.
- Integration with existing financial systems meant seamless budget tracking and management.
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