We're changing terminology slightly from just Approvals, to Approval Requests. This will see us use either Approvals or Requests as we discuss the functionality of the product.
Our Approvals system has had a vast overhaul to allow us to better serve the complex requirements of approval flows - such as 8, 10, 12 eye approval or setting expire times on your payment approvals - all to minimise risk within your treasury functions.
Changes with immediate effect are the renaming of Approvals to Requests, as this more aligns with the future direction of our approvals products AND auto expiry, which has a default time of 7 days before your requests will expire.
What has changed?
Well, everything but also, not much. We've tried to deploy a huge set of changes with as little initial disruption as possible, this means that other than a change of menu location and auto expiry, you should have a similar experience as you have now.
Updated Menu Location
It's not gone far - Approvals has become Requests, other than that, you can continue your flows as you always have - or reach out for new customer rules you've always wanted.
Updated Layout
We've migrated all existing and past approvals to the new system, while approvals will be created as usual when making payments with your predefined roles, but the layout is slightly different.
More Data
Full audit trails, new statuses and clear, actionable information for every approval request.
Payee Approvals
If you want, or need, your payees to be approved before they're used by team members, we've got that functionality for you. Just ask and we'll activate it with the rules you require.
1 Week Approval Expiry
In order to give you the power to manage your own expiry, we had to work with a default setting. We've chosen 1 week as our approval cut off, at which point your approval will auto expire and will have to be made again.
Remember, we can construct whatever you need, including longer expiry just for your own approvals.
What's going to change?
This is a bigger topic and the one we're excited about rolling out gradually on a request by request basis for you. If you want more advanced rules and permissions, reach out to our support team and we will develop those alongside your team's needs.
New Rules UI
We're working on getting this infront of all Owner & Supervisor users as soon as possible. The new UI will cover Template Rules, Basic Rules and Advanced Rules, giving you the power to build out anything you require.
Release all payments under $5000 without approval
Require 8 eye approval for all payments over $100k
Allow Joe@bloggs.com to make payments without approval
More Approval Request Types
As we've already said, payees are now available within the approval request flow but we have more to come as well.
Card Issuance
Batch Payments
Recurring Payments
Sensitive Payments
Page Access
If it exists in your Xace app, it can be controlled with Rules & Requests.