What it does
This module provides features to manage the approval process for cost estimations.
Key Features
- Create and manage approval requests for estimates
- Submit estimates for approval following a workflow
- Track the approval status of each estimate
Benefits
- Control costs, avoid budget waste: Helps the business owner control the expenses from the planning stage, avoiding unnecessary expenses.
- Increase approval speed, avoid delaying work progress: Automating the approval process reduces the time waiting for approval, ensuring that purchases or investments are carried out as planned.
- Transparency and clear responsibility: Any changes in the approval process are recorded, helping the business easily check when needed.
- Reduce financial risk: Preventing unnecessary expenses, protecting the business's profit.
- Strong connection between departments: Ensuring that cost information is accurately updated between the finance department, accounting, and related departments.
Who should use this module
This module is suitable for businesses with strict cost management processes, particularly:
- Manufacturing businesses: Need to control the budget of raw materials, machinery investment, and operating costs.
- Trading businesses: Need to approve budget for import goods, promotion programs, and logistic costs.
- Service businesses: Manage the budget for projects, service contracts.
- Group or company with multiple levels of management: Need a clear approval process to ensure transparency and fair distribution of authority.
Editions Supported
- Community Edition
- Enterprise Edition
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