About payment approval workflows

Many companies require multiple approval signatures on their payments because if you don’t have payment approvals in place, you can come across issues such as inaccurate payment information, internal fraud, or discrepancies between the expected and the actual payment amount. But, when insisting on control and approvals you can end up stuck with inefficient processes or untenable bottlenecks: maybe the authorized signatory is the CEO, or someone else who is hard to get a hold off.

By implementing the approval workflows with Continia Payment Management, you gain full control of your payments in an easy straightforward manner. You can set up enhanced approval workflows for specific payment journals and decide whether the payment lines must be approved individually or if the entire batch can be approved as one.

You efficiently gain control of your payments without slowing down the payment process. You can:

• Easily set up enhanced workflows and approval scenarios.
• Add multiple approvers and specify their individual approval amount limit.
• Use 5 different ways of identifying the approvers for a payment.
• Offer alternative approvers by delegating the approval request.
• Enforce approval of all payments made from a payment journal – either of the journal batch or the individual line.
• Require approval of all payments made from a specific bank account.
• Set up automatic approval of payments within predefined amount limits.
• Notify approvers automatically about pending approval requests via email or on the Role Center.
• Easily approve, reject, delegate, or add comments to approval requests from one place.
• Access a secure and searchable archive of approval requests.

Other resources

• Introducing Payment Approval (Continia Docs)