Purchasing Approval Workflows
PURCHASING APPROVAL WORKFLOWS
Simplify your purchasing approval workflows and give your finance team a break
Finance doesn’t need to supervise every step of every purchasing process. Save your entire company time and empower your employees with easy-to-follow workflows that ensure they get the right approvals for every purchase, every time.
Leave the heavy lifting to us
Teampay seamlessly automates your purchasing approval workflows
Real talk—your employees are never going to memorize your spend policy. Teampay’s policy engine automatically enforces rules for you, helping you avoid awkward conversations.
- Teampay helps eliminate surprise invoices and unexpected card transactions by incorporating pre-approvals into the purchasing process.
- Employees make requests and receive approval notifications right in the communication tools they already know how to use.
- When your purchasing process involves another system (e.g. contract management or travel booking), Teampay can guide employees to complete the necessary requirements in that system before continuing the approval workflow.
- Approvals are automatically recorded in Teampay, providing you with a clear audit trail.
“It’s fast. That’s really important in a high-paced
environment,” she said. “We are growing, and we
don’t want to become IBM where it takes three
weeks to buy a pen, [but] we can’t just let people buy
whatever they want. Teampay is a great option to
make purchases quickly with streamlined approval
and accounting software integration.”
Finance Operations at Formlabs
Issue payments with no issues
Intelligent payments for all your purchasing needs
- Upon completion of the approval workflow, Teampay’s patented technology automatically creates a secure payment method specific to that purchase.
- Issue all payment types—virtual cards, physical cards, purchase orders and employee reimbursements—from one software system.
- Tie secure payment methods to the pre-approved vendor, amount and service period to prevent unauthorized spending, frightening zombie subscriptions, and fraud.
- Prevent purchases that don’t fit the pre-approved parameters. Teampay will automatically decline the transaction and alert the approver so they know what’s going on.
One and done
Code as you go means real-time, accurate data
- Stop chasing employees down for information about purchases that have already happened. Teampay’s proactive approach makes it easy for employees to code transactions as they happen, ensuring you have the most up-to-date purchase data.
- In the rare case you need to make a change, approvers and finance admins have the ability to easily update coding.
- Transactions are automatically reconciled into your general ledger in real time. Ta-da!
Payment options for all your purchasing needs
Virtual corporate cards
Instantly issue unique, secure card numbers for your teams to buy software subscriptions, WFH equipment, office lunches, whatever they need—without sacrificing control.