Spend control for a multi-entity renewable energy company

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Case study

Learn how Mazars Thailand helped a renewable energy company its streamline approval workflows with ApprovalMax, ensuring timely payments, accurate spend tracking, and compliance with financing terms.

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100+

Employees

Xero

Accounting Platform

Sports and Recreation

Industry

Australia

Location

Jonathan Fryer

Accounting and Payroll Outsourcing Partner at Mazars

The challenge

The customer – a renewable energy company – had five of its plants still under construction when Mazars Thailand came in. Each project was financed with a substantial amount by a leading commercial bank in Thailand, which demanded extremely rigid management reporting to secure further project financing. Everything had to be accounted against the budget with a detailed breakdown of all approval related information. Everything had to be monitored tightly; the reports had to show “the actual against the budget” and the budget had to tie in with the project financing. If management and general reporting on the project was not delivered on time, the bank would not release any funds.

When Mazars Thailand started working with this customer, supplier bills would end up on someone’s desk and then had to be chased in order to get them into the accounting system on time and included in management reporting. Getting approvals meant literally a lot of paperwork, often last-minute. There was always a risk of something getting lost or overlooked on a crowded desk, which meant it wasn’t entered into the correct accounting period or would even only appear in the following month.

The solution

With ApprovalMax, things improved significantly. Apart from the automated approval workflows with instant notifications, the option of approving on the go is a major advantage and makes a real difference. No more late supplier payments and spend tracking is delivered with exactly the required level of granularity. The company’s CEO really liked the automated approval workflows because she travels frequently and is often not even in the country. It’s vital that she can see on her phone all approvals already made when it’s time for her to do the final one. By looking at the supporting documents attached, she can authorise with confidence and right away, which allows to complete reporting accurately and on time.

Since going into operation, these power plants use purchase orders and invoice approval workflows with up to five steps as well as purchase order to invoice matching. They have someone who validates that entries are booked correctly into the accounting system, a person who checks if goods or services have been received as ordered, and another one who confirms any spending against the project funding. The last step is always the CEO’s approval.