How ApprovalMax effectively streamlines financial document approval

Considering ApprovalMax for your Build-to-Rent (BTR) and Purpose-Built Student Accommodation (PBSA) business? Let us show you exactly how this amazing software cuts down your financial approval process by up to 70%! 

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What is ApprovalMax?  

ApprovalMax is a cloud-based approval workflow automation software designed to help businesses manage their financial documentation and accounting processes.

With ApprovalMax, businesses can set up customised approval workflows for purchase orders, bills, and invoices, which can automatically be routed to the appropriate approvers based on predefined rules. Integrating with popular accounting systems such as Xero, QuickBooks, and MYOB, the software allows reliable and seamless data transfer and synchronisation.

Using the software, businesses can gain greater control and visibility over their financial processes, ensuring compliance with internal policies and regulatory requirements. 

Through real-time reporting and analytics, businesses can also monitor performance, identify bottlenecks, and make better data-driven decisions.

Why ApprovalMax is the perfect choice for the BTR and PBSA industries 

ApprovalMax is particularly well-suited for the BTR and PBSA industries for several reasons.

Firstly, these industries involve managing large volumes of transactions and financial processes, which can be complex and time-consuming. ApprovalMax can automate these processes, enabling businesses to manage their workflows more efficiently and reducing the risk of errors or delays.

Secondly, BTR and PBSA businesses often involve multiple stakeholders, such as property managers, accountants, and investors, who need to approve transactions and expenses. ApprovalMax allows businesses to set up customised workflows and rules, ensuring that the appropriate stakeholders are involved in the right stages of the approval process and that all transactions comply with internal policies and regulations. 

Approval, commenting, and rejections can all be done natively on the mobile app or by responding to email notifications, allowing a faster turn around time and avoiding process bottlenecks.  

Thirdly, these industries often involve managing many properties and units, making it challenging to track expenses and monitor financial performance. ApprovalMax can handle all of this, making reporting and stock performance monitoring much easier. 

Finally, the BTR and PBSA industries are highly competitive, and businesses must operate efficiently and cost-effectively to succeed. ApprovalMax can help companies to save time and reduce costs by streamlining financial processes, enabling them to focus on delivering high-quality services and generating value for their customers. 

Why Cloudfox recommends ApprovalMax with Xero 

At Cloudfox, we always recommend integrating ApprovalMax with Xero for the most effective financial system implementation. We also use it every day for our client’s bookkeeping tasks.

Here’s why.

Xero is the most reliable and adaptable accounting system on the market. It makes daily bookkeeping easy and is always more accurate on tax reporting duties; as such, it’s been the leading choice for software developers to create integrations.

The Xero and ApprovalMax integration is reliable and provides real-time synchronisation between the two systems, meaning that any changes made in one system are immediately reflected in the other. This ensures that businesses always have up-to-date and accurate financial information. It also informs management of potential problems in gaining approval that can hold up cash flow.

We have seen clients actively save up to 70% of their time in the approval process by using this software integration partnership and that’s why we recommend it. 

Need some help setting up ApprovalMax and using it in your daily bookkeeping process? Fill in our Cloudfox bookkeeping form, and let us get you started!