CapEx
Signing off on capital expenditure decisions is critical for sustainable growth and maintaining a competitive edge. However, manual or outdated CapEx approval processes often lead to delays, lack of transparency, budget overruns, and compliance risks. To thrive in 2024-2025, organizations need a streamlined, automated, and transparent approach. Using best practices in CapEx management, along with the right technology, changes this important function. It turns a bottleneck into a strategic advantage.
Every successful company needs to grow. And this process requires it to track capital expenditures, especially those which create future benefits. A very important part of tracking capital expenditures is the approval part. Over the past 30 years CapEx tracking has come a long way literally from the Stone Age era to flying planes. What has changed? Let’s make an excursion along an imaginary museum of CapEx process management evolution.