Weissr Capex Process Overview
Building on Weissr Capex's commitment to streamline the entire capex process, we offer a structured approach to managing capital expenditures within your organization. Each process plays a crucial role in ensuring that your organization’s capital expenditures are strategically aligned, properly budgeted, and effectively managed, delivering optimal results and enhanced operational efficiency.
By integrating these three key processes — Capex Strategy, Capital Budgeting, and Capex Management — we optimize resource utilization and enhance performance across your organization. This structured approach not only streamlines operations but also boosts transparency and accountability, ensuring maximum value from your capital investments.
Capex Strategy Process
The Capex Strategy process is the foundational phase where the overarching strategy for capital expenditures is created or revisited. This phase involves:
Creation/Retake Capex Strategy: Developing or reassessing the organization's capex strategy based on current business goals and market conditions.
Current Capex Strategy Approval: Securing approval for the proposed capex strategy from relevant stakeholders.
Update/Follow-up: Continuously monitoring and updating the capex strategy to reflect changes in the business environment or organizational objectives.
This process governs the subsequent Capital Budgeting and Capex Management processes, ensuring that all capital expenditure activities are aligned with the strategic goals of the organization.
Capital Budgeting Process
The Capital Budgeting process focuses on aligning the capex budget with both the strategic direction set in the Capex Strategy process and the investment needs identified in the Capex Management process. Key steps include:
Initial Requests/Capex Budget: Collecting initial capex requests and compiling a preliminary capex budget.
Budget Alternatives: Evaluating different budget scenarios and alternatives to optimize resource allocation.
Budget Approval: Gaining approval for the finalized capex budget from relevant authorities.
Budget Changes/Re-allocations: Making necessary adjustments to the budget based on evolving needs and priorities.
Follow-up Yearly/Quarterly: Regularly reviewing and updating the budget to ensure it remains aligned with strategic goals and operational requirements.
The Capital Budgeting process ensures that the organization’s capital expenditure budget is both strategically aligned and responsive to real-time investment opportunities and needs.
Capex Management Process
The Capex Management process handles the execution and monitoring of capex projects, ensuring they are managed efficiently from initiation to completion. This process includes:
Registration of Capex Requests: Logging and categorizing incoming capex requests.
Preparation/Analysis/Routing: Analyzing and routing requests for further processing and approval.
Capex Approval: Securing necessary approvals for capex projects.
Execution & Monitoring: Implementing approved capex projects and continuously monitoring their progress. Approved capex projects are often registered in the ERP system to ensure accurate tracking and management.
Post-completion Review: Conducting reviews of completed projects to assess their success and identify areas for improvement.
The Capex Management process integrates with the ERP system to streamline operations, facilitate data management, and ensure transparency and accountability throughout the lifecycle of capex projects. Project actuals from the ERP system are imported back into the Capex Management process for ongoing monitoring and control, ensuring that the financial performance of projects is continuously tracked against the budget.