Managing invoice approvals can be tough. Different departments, amounts, and expense types might require different approvers before the invoice gets paid. With Payhawk Workflows, you no longer have to count on your employees to remember your company policy. You can define your approval flow, update your corporate card controls, and ensure everything is reviewed by the right person.
Some things finance managers need to make sure of is that:
So how do we crack this?
Different companies have different needs. And different expense types might require a different approval chain. With Payhawk Workflows, you can ensure every document is reviewed by the respective approvers according to your company policy. Whether it’s based on an amount threshold, expense category or company structure, we make sure the request hits the right person so that employees' mistakes are avoided.
Slow cycle times cause your invoices to become a bottleneck which has an adverse effect on business. In order to decrease the time of invoice approval, Payhawk makes sure that employees submit all necessary expense data. Once submitted, the approver (based on your predefined policy) instantly receives the request in their inbox with all required information. Once they verify it, they can instantly approve the request, making it ready for payment or continuing on with the next person on the approval chain. To make it even more convenient, we have allowed both employees and managers to submit, approve and decline requests directly from our mobile app.
Whether you are the person responsible for approval or an accountant, you might need to request additional input. Sometimes, there is a wrong or badly captured document that the employee needs to resubmit. Or, for example, the accountant spots a wrong VAT on the invoice and wants a new document containing the correct one. That’s why we would allow accountants and approvers to return an expense back to the employee for resubmission. For more information on how to set up workflows for your company, check out our detailed guidelines here.
Boris has a diverse product background from launching finance products to bringing payment programs to life. He is currently leading the Spend Controls product area focusing on enterprise features that bring visibility and control to finance teams.