Introduction
Expense management is a crucial but often cumbersome process in many organizations. Using tools like Expensify, companies manage expenses efficiently until they hit the snag of delayed approvals. Typically, when a new expense is created, it must be approved by a manager and then by the finance team. However, if managers don’t approve expenses promptly, employees find themselves caught in a cycle of sending reminders, which can stretch the approval time to about two weeks..
Simplifying the approval process
To address this inefficiency, we developed an automation solution that significantly speeds up the expense approval process. This system was implemented using Power Automate, a versatile tool for building automated workflows.
How the Automation Works
Our automation is straightforward yet powerful. When an employee submits a new expense claim, the automation kicks in by identifying the responsible manager from the company directory. It then sends a notification to the manager via Slack. This alert not only notifies the manager of the pending approval request but also allows them to approve or reject the expense directly within Slack.
This immediate interaction reduces the time taken for managerial approval from days to mere seconds. Once the manager approves the expense, the request is either routed automatically to the finance team for final approval or forwarded to another manager if further approvals are necessary.
Special Features and Security Measures
Understanding the diverse needs of our client, we incorporated features to enhance the functionality and security of the automation
- C-Level Exclusion – Certain C-level managers are automatically excluded from the approval loop to streamline the process.
- High-Value Transaction Checks – Special checks are triggered for expense amounts exceeding $15,000 USD, ensuring that higher-value claims undergo appropriate scrutiny.
Additionally, to close the communication loop and maintain transparency, the employee who filed the expense is notified via Slack as soon as their request is approved or if further clarification is needed.
Conclusion
By automating the expense approval process with Power Automate, we’ve transformed a traditionally tedious task into a swift and efficient workflow. This not only speeds up the process significantly but also reduces the administrative burden on employees and managers alike. Now, expense claims can be processed in a fraction of the time, enhancing overall operational efficiency and employee satisfaction.