Approval2Buy™
Total spending control
and failsafe reconciliation
Approval2Buy™ gives your organisation pre-approved control of staff spending and makes 100 per cent reconcilliation a reality.
What is Approval2Buy™?
Approval2Buy™ is a web-based, fully customisable system that revolutionises corporate purchasing by enhancing global controls and increasing transaction security. Using an integrated pre-approval process and secure virtual account numbers it gives you the freedom to expand your card programme while maintaining an unprecedented level of control over spending and reconciliation.
As a standalone solution
An employee needing to make a purchase submits an online request via the Approval2Buy™ website. If approved, they receive a Virtual Card Number (VCN) and expiry date details that they can use to make an online, telephone or mail order purchase.
As an integrated solution with in-house procurement/booking systems
Your organisation's ordering system makes a real time call to the Approval2Buy™ platform. The VCN details automatically populate your ordering system.
Control and flexibility
Approval2Buy™ provides advanced real time pre-authorisation and transaction controls so your organisation can manage supplier charges and individual employee spend. The result is unparalleled control, and data capture.
Each Virtual Card Number(VCN) can be customised with such criteria as the spending limit, expiry date for use, and the supplier it must be used with. When a VCN is used to make a purchase, Approval2Buy™ identifies the number and checks that the transaction corresponds to the original request. If it doesn't, Approval2Buy™ declines the transaction.
Enhanced data analysis and management reporting
Approval2Buy™ includes Smart Data OnLine (SDOL) to provide high quality management information and analysis. This is a powerful, flexible, web-based management information tool that enables you to organise, analyse and manage your expenditure with precision.
Information to improve reconciliation
Approval2Buy™ provides unique transaction numbers and allows you to attach up to ten fields of additional, non-transactional data to each transaction. With information such as employee ID, cost centre, project code and cost allocation, reconciliation – and internal reporting – is streamlined. The quality of your management information is also improved.
Save time and reduce errors
The VCN enables you to automatically record, track and reconcile every transaction, freeing up staff time while minimising the need to write off unmatched purchases. What's more, improved control means a reduced need to audit retrospectively.
Approval2Buy™ could deliver impressive benefits to your organisation if:
- Need a unique number for each transaction that is available to the purchaser, the supplier and flows with the transaction, into management information report and your ERP system.
- Wish to approve transactions before they happen automatically or on a case by case basis.
- Need flexible spend controls which can be tailored to an individual's buying profile.
- Capture additional or mandatory data from the purchaser prior to the transaction.
- Wish to ensure staff purchase from approved suppliers.
- Purchase products/services from suppliers or countries where more control is required.
- Have individual staff who need to make purchases, but don't make enough purchases to justify having their own card.
- Operate in areas where you are obliged to track the products or services your staff purchase.
For a demonstration of how Approval2Buy™ works visit our Demonstration.
To find out how Approval2Buy™ could be benefiting your organisation contact your Relationship Manager, visit www.rbs.co.uk/commercialcards or call us on freephone 0808 10 10 900.