With ApprovalMax it is easy to find, analyse and report on key finance data and documents - supported by fully automated audit trails and built-in capabilities for fraud prevention and detection.
The Search feature finds any finance document by using multiple search criteria: document type (purchase order, bill, sales invoice, etc.), document status (e.g. Open, Rejected, Approved, Cancelled) and other document-specific parameters, such as supplier, purchase order number, purchase order requester, account/category and item.
ApprovalMax provides a number of pre-built reports as well as the option to quickly create new reports using various filters. All reports can be printed out or exported in CSV format. Depending on which general ledger ApprovalMax is connected to, pre-built reports include the following information:
- Purchase orders pending approval
- Bills pending approval
- Purchase orders approved this month
- Bills approved this month
- Potential fraud detected
For all finance documents such as bills or purchase orders processed in ApprovalMax there will be an audit trail automatically generated as part of the approval process flow.
Audit trails contain all authorisation decisions and exceptions that have occurred and include comments, delegations, rejections and other details.
On completion of the approval workflow, an audit report is generated for and attached to every approved document. Both will be kept in the general ledger, where the audit reports can be viewed without having to log into ApprovalMax.
ApprovalMax enables the handling of non-standard and potentially fraudulent scenarios, for example, if a document is approved directly in the general ledger (when applicable) after bypassing the predefined approval process, or if changes are made to an already approved document.
Once a potential fraud has been detected, appropriate notifications are automatically sent to the responsible administrators.
Other non-standard scenarios include removing approvers, auto-approvals and administrators forcing the approval decision. Such activities can be included in reports by using the built-in Fraud Risk field.
There is nothing stopping users with sufficient access rights from approving documents directly in the general ledger. But we can help handling this kind of situations properly: we will notify administrators and mark such documents with a special flag.
ApprovalMax is not able to prevent such situations but we will track them, set a flag, and notify the administrators.
We do not have a public API. However, we deliver a private API as a professional service. If this is of interest, please get in touch with us via firstname.lastname@example.org
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