Estimated reading time: 1 minute, 30 seconds.
In order to enrich its existing approvals process for accounts payable (AP) teams as they shift to remote work culture, Beanworks has launched Approval Channel Delegation, a feature that allows transfer of approval authority to another colleague – either temporarily to cover a vacation or leave, or permanently. Teams working remotely or those that assign new approvers frequently benefit by eliminating delays such as month-end closing and an extended approval timeline, which often occur in the absence of an approver. Like with any business, when an employee goes on vacation or leaves the company, their duties are assigned to someone else. Within accounts payable (AP) when an approver leaves, their invoice approval charge can easily be delegated to someone else with this feature.
Here’s how it works:
The feature is available for invoice and purchase order modules with the flexibility of having admins select separate delegates for each module. The process is simple and can be completed in three steps. The tool comes with custom settings, for example, with temporary delegation a group approval channel can be created between the approver leaving temporarily and the new approver.
According to a 2019 report, 90% accountants believe there has been a cultural shift in accountancy.
Organizations that are looking to adopt accounting technology should focus on solutions that address the demands of an unpredictable and rapidly changing economy. For 56% of respondents in the survey, increased productivity was seen as the main benefit of technology, followed by saving time. Here are four accounting branches that we think you should automate for your financial growth trajectory.
Straight To Your Inbox
Stay up-to-date on the latest from industry leaders in AP and accounting.
Sign up for our newsletter and receive the latest in AP and accounting trends straight to your inbox.
Learn More About Beanworks
Discover how AP automation can free your accounting team from manual data entry, delays, and paper-based processes.