Financial & Invoicing ProcessesPurpose
1. Automate multi-level approval processes for financial deviations in aeronautical engineering projects.
2. Ensure real-time routing of cost overrun or budget modification requests to relevant managers.
3. Track, log, and store approvals with full audit trails for compliance and future reference.
4. Reduce manual errors and processing delays in budgetary oversight.
5. Communicate outcomes quickly to stakeholders and integrate with existing financial systems.
Trigger Conditions
1. Submission of a project expense exceeding predefined thresholds.
2. Change order request impacting overall or phase budgets.
3. Detection of cost center variances outside forecasted limits.
4. Manual employee flag for exceptional financial event.
5. Scheduled audits identifying out-of-scope financial activities.
Platform Variants
1. SAP (S/4HANA)
- Function: Workflow configuration for budget exceptions; Use API: BAPI_ACC_DOCUMENT_POST
- Example: Automate cost overrun approval routing via SAP Business Workflow triggers.
2. Oracle ERP Cloud
- Function: Approval Management; API: /fscmRestApi/resources/11.13.18.05/approvalRules
- Example: Set auto-routing rules for budget change approvals.
3. Microsoft Power Automate
- Connector: Approvals
- Example: Create multi-stage approval flows for project cost adjustments.
4. ServiceNow
- Feature: Flow Designer for Finance
- Example: Build workflows for budget escalation processes.
5. Jira Service Management
- Feature: Automation rules + Approval steps
- Example: Configure cost overrun as a ticket type with required approvers.
6. Slack
- Function: Workflow Builder + Approvals App
- Example: Trigger approval requests based on submitted forms.
7. DocuSign
- API: eSignature REST API
- Example: Route finance documents for digital signature approvals.
8. Box
- Feature: Workflow Automations
- Example: Send file approval tasks when new budget files uploaded.
9. Google Workspace (Apps Script)
- Function: Scripted Approval Flows
- Example: Route Sheets documents for manager review if flagged “over-budget.”
10. Trello
- Power-Up: Approvals
- Example: Assign cost review cards and automated escalation if not approved X hours.
11. Salesforce
- Feature: Process Builder or Flow
- API: /services/data/vXX.X/process/approvals
- Example: Initiate approval process for expense object.
12. Approve.com
- API: /api/requests
- Example: Create a cost overrun approval flow using conditional logic.
13. Workday
- Feature: Business Process Framework
- Example: Configure cost overrun triggers and approval chains.
14. Smartsheet
- Feature: Automated Approval Workflows
- Example: Alert approvers for budget change requests in a project sheet.
15. Asana
- Feature: Rules + Approvals
- Example: Trigger approval tasks from flagged project expenses.
16. Monday.com
- Feature: Automations + Approval Columns
- Example: Notify finance lead on cost overrun for board item.
17. NetSuite
- SuiteFlow: Approval Routing
- Example: Automate purchase or change order approvals over threshold.
18. Zendesk
- Feature: Triggers + Approval Tickets
- Example: Assign approval tasks via custom trigger.
19. QuickBooks Online
- API: PurchaseApproval workflow
- Example: Create automated transaction approval on flagged invoices.
20. Airtable
- Automation: Run script and send for approval
- Example: If financial field exceeds value, launch approval form.
21. HubSpot
- Workflow Automation
- Example: Trigger internal approval for quote or deal over budget.
22. BambooHR
- Approval Workflow
- Example: Use workflows for special payroll or bonus approvals stemming from budget changes.
Benefits
1. Reduces time-to-decision for critical financial issues.
2. Provides audit-ready approval logs.
3. Minimizes manual intervention and potential for errors.
4. Offers real-time visibility into approval status.
5. Ensures policy compliance and escalation for unapproved items.
6. Integrates with various business systems for seamless data flow.