ApprovalMax

ApprovalMax is a B2B software-as-a-service (SaaS) platform that provides robust financial controls and streamlines approval processes for businesses. The company primarily serves accounting and bookkeeping firms, as well as businesses with internal finance teams, helping them automate accounts payable and accounts receivable functions. Its core product is an approval automation system that allows users to create multi-step and multi-role workflows for bills, purchase orders, credit notes, and invoices, ensuring that all financial documents go through the required authorization steps before payment.

The platform was co-founded in 2016 by Helmut Heptner and Konstantin Bredyuk, who serve as CEO and CTO, respectively. Based in London, UK, the company was established to address the inefficiencies and lack of control inherent in manual, paper-based approval processes. ApprovalMax integrates seamlessly with major accounting software such as Xero, QuickBooks Online, and Oracle NetSuite, pulling bills from these systems and routing them through the predefined approval workflows. This integration creates a comprehensive audit trail, as all approval decisions and comments are logged, providing clear, compliant, and easily accessible records for auditors.

The business model is subscription-based, with pricing tiers determined by the number of workflows and features required. By automating the approval process, ApprovalMax helps organizations prevent fraudulent payments, eliminate approval bottlenecks, and gain better visibility into their spending and cash flow. In 2022, the company secured a significant Series A funding round led by J.P. Morgan and other investors, which has supported its global expansion and product development efforts.

Keywords: approval automation, accounts payable, financial controls, workflow management, B2B SaaS, purchase order approval, expense management, audit trail, Xero integration, QuickBooks integration