Company spend policies can vary. That’s why we now let you design a custom approval chain based on yours. Take a look at how Payhawk decentralizes your workflows and improves efficiency by also allowing managers to approve their team fund requests.
The way companies deal with this largely depends on their spend policy. For smaller companies, employees can easily reach out to their financial teams to request an increase оn their spending limit via email or Slack. However, with larger organizations, the approval workflows can be much more complex.
For example, an employee might have to submit a request to their manager. After signature approval, they would go to the finance department, etc. The whole process takes time and is prone to mistakes. This decreases company efficiency and productivity. Luckily, there’s an alternative.
If someone from Sales requests money for a lunch with a client, should that reach the CFO? Well, that depends on your company policy.
Introducing Multi-level Approval Flows
You can easily have cross-department approvals, by setting any person to be responsible for approving a particular fund request.
With your team structure in place, you can easily delegate control and create a spend policy for your teams. Each member’s request will go to their manager first. That way, a request will reach someone only if it’s relevant for their role.
When an employee submits the request, Payhawk sends a push notification to the first person on the chain. After one employee approves the request on the first step, it will immediately notify the next person, etc. Once everyone has approved it, it is instantly available on the card of the employee.
Go ahead and design your custom approval workflow!
You can read more about Spend Policies in our help center. If you have any questions on how to use these features, don’t hesitate to contact us directly.
Whether you have tens, hundreds, or thousands of employees, we’re making your business spend work for you, giving you control over spending at scale with a single solution. Say goodbye to tedious finance tasks, schedule a demo with us today.