Feb 15, 2021
5 mins read

Introducing Multi-level Approval Flows

Spend Policies Approval
Quick summary

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.

Traditional workflows

It all starts with a budget. Or rather, the lack of one. When an employee wants to make a company expense but does not have enough funds on their company card, they have to submit a request.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.

Payhawk Fund Requests

With Payhawk, employees can easily request funds directly from the Payhawk mobile app and track the approval progress. If approved, their card limit is increased in real-time. That solves the issue for smaller companies. The problem bigger companies have, however, is that requests are coming from everywhere.

Make compliance a breeze with in-built policies & workflows

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

Design it your way

We know spend rules can vary. And that your policy might be quite complex. That’s why we now let you design your custom approval chains which are based on it. Multi-LevelYou can easily have cross-department approvals, by setting any person to be responsible for approving a particular fund request.

Decentralize

As your company grows, you shouldn’t be bothered with every small request that comes up.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. Multi-Level

Improve Efficiency

Typically, the approval process can last for days. With Payhawk, you can have a multiple-step approval in minutes.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.

Boris Angelov - Principal Product Manager at Payhawk - the spend management solution of tomorrow.
Boris Angelov
Principal Product Manager
LinkedIn

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.

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