Salesforce.com features native functionality to build “Approval Processes.” Tamarack’s clients have used the configurable “Approval Processes” to implement authority rules for approving leases and loans. Using this functionality allows for more streamlined operations, complies with internal credit policies, and provides a comprehensive audit trail of the approval history. With some basic configuration, you can:
1. Setup Auto-Approval Rules (see Scorecard below)
2. Setup One or Many Approvers
3. Enforce Credit Authority limits
4. Lock records from further updates
The Approval Processes is mobile enabled in the Salesforce1 App allowing the approver to have remote access. From the Salesforce1 App, users can review credit bureau reports and exposure, as well as other credit elements and issue approvals directly from their mobile devices. In addition to credit approvals, the Approval Processes can also be used to approve vendors, programs, or credit policy exceptions.