Manual approvals create bottlenecks. They slow payments, damage supplier trust, and expose businesses to compliance risk. Yet 65% of companies are still relying on them, even though automation cuts errors by 80% and boosts accuracy by 72%.
In our recent webinar, we explored why manual processes are holding finance teams back, shared real stories from JSB Petroleum and Beef Australia, and outlined a clear framework to modernise approvals with confidence.
If you missed the live session, here’s a recap of the key insights.
Why Approvals Matter More Than Ever
- $1.1 billion is lost every year by SMEs due to late invoice payments.
- Half of all small business invoices are paid late.
- Despite the risks, 65% of companies are still running manual invoice processes, even though automation reduces errors by 80% and improves accuracy by 72%.
Manual approvals aren’t just slow, they create compliance risks, vendor relationship issues, and unnecessary friction between finance and operations.
Real-World Lessons: Customer Stories
Jasbe Petroleum
Managing 56 service stations and processing 100,000+ invoices annually, JSB faced unique challenges:
- Store managers on early shifts clashed with head office approvers working later hours.
- Urgent supplier payments were delayed, putting operational continuity at risk.
- Email-based approvals excluded key decision makers while sending sensitive data to the wrong people.
With ProSpend:
- Supplier onboarding rules now prevent unauthorised vendor payments.
- Clear approval limits (up to $1M) give decision makers confidence and visibility.
- Automated policy enforcement removed conflict between finance and operations.
- A full audit trail provides transparency for every payment.
Beef Australia
A lean finance team running a major industry event every three years needed to manage 180+ supplier payments monthly without extra headcount.
- Distributed approvers across cities made manual sign-offs slow and complex.
- Audits required hours of physical document retrieval from compactors.
- Finance risked being stuck in micromanagement mode.
With ProSpend:
- Budgets became the backbone of automation, empowering managers to spend within approved limits.
- Purchase orders stopped overspending before it happened.
- Audits were simplified - supporting documents are now just one click away.
- Remote approvers stayed seamlessly connected with structured approval workflows.
Read the Beef Australia case study here.
What’s Holding Teams Back
From audience polls and discussion, three big pain points emerged:
- Approvals still take 3–5 days on average, costing early payment discounts.
- Manual email chains create communication breakdowns and compliance risks.
- Finance leaders spend valuable time chasing approvals instead of focusing on strategy.
A Framework for Smarter Approvals
The webinar outlined a four-step roadmap for modernising approvals:
The Cultural Shift
One of the biggest takeaways wasn’t just about efficiency, it was about relationships:
- Finance teams step out of the “policy police” role.
- Managers gain autonomy and confidence to act within set budgets.
- Approvals move from a frustration point to a framework for control and trust.
What’s Next?
Streamlining approvals isn’t just about speed. It’s about building a scalable, secure, and strategic financial backbone for your business. Explore how ProSpend can help you take the next step