Capex Management System
Multiple delays in Capex approval leading to loss of potential business.
High inefficiency in tracking and follow-ups across departments and locations due to variability in operations.
Tedious manual Capex approval process due to multi-department involvement.
Absence of a system to set timelines and track Capex creation.
Capex Management System – An innovative solution that leverages process automation for process simplification and streamlines the approval process and reduces the overall time taken to approve a Capex task.
Web-based system: A completely online Capex Management system with embedded approvals and electronic routing aligned to the organization’s approval policies.
Configurable: Customisable as per the organisation’s specific requirements – be it adding tasks or modifying the conditions to keep up with particular business processes.
User-friendly: Enables authorised users to create, track and search capital expenditure related tasks without hassles.
Effective: Reduces errors while increasing the efficiency of the approval cycle.
Neebal assembled a team of industry experts, business analysts and content writers to survey and understand the pain areas to be addressed in implementing Capex Management System.
Testing the focus group
Based on the requirements and solutions discussed, mockups with single process flows were created. These mockups helped the client in visualising the system even before it was built. This helped those who were unaware of the workings of IT systems to give feedback and suggestions for further improvement.
Designing the solution
The solution architect created and introduced a configurable workflow based on defined rules and conditions. This workflow was scalable to meet the client’s ever-evolving business methods.
Post the client’s sign off on the workflow, the application was launched and tested for effectiveness and efficiency at client sites with a pilot run in a supervised group of 100 participants.
Increase in collaboration
Capex Management System proved to be an excellent collaborative platform that enabled users to communicate over sales and financial figures and decide which projects to initiate in line with the company’s goals.
Decrease in approval time
The approval time for each task came down from 3 months to 1 month with the switch to the digital version of Capex.
Rise in productivity
Due to Capex Mananegemnt System number of routing errors were significantly reduced. Quick approvals improved the overall productivity.
Drop in expenditure
The efficiency and effectiveness of capex management led to significant reduction in expenditure requests and reviews.