ApprovalMax Year In Review 2024: Key moments, milestones, and what’s next

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From award wins to processing 11.62+ million bills, 2024 was a breakthrough year for ApprovalMax. Dive into how we improved accounts payable and receivable workflows with smarter tools and robust controls – plus, a sneak peek at 2025!

By Dee Jones

9 min read •

December 15, 2024

As 2024 comes to a close, we reflect on a year packed with growth, milestones, and meaningful updates at ApprovalMax. We made big strides in accounts payable (AP) and accounts receivable (AR) automation, helping our customers improve efficiency and strengthen their financial controls.

A highlight worth celebrating

We’re proud to have ApprovalMax’s role in improving financial workflows and helping customers simplify their accounting processes recognised in a number of award nominations this year. We’re thrilled to share ApprovalMax was just named on Xero’s 2024 Top App Lists in two key categories:

Most Popular Apps (AU and UK) – highlighting our growth in new and total subscriptions.
Most Recommended by Advisors (AU and UK) – reflecting how often advisors recommend ApprovalMax to their clients.

In December, we hosted our largest webinar series yet

We connected businesses globally across APAC, EMEA, and the AMER. Product experts Justin Campbell, Alex Keselman, joined by Dee Johns, and Jonathon Kyritsis shared how our features are helping businesses overcome bottlenecks, build stronger controls, and simplify financial workflows.

2024 at a glance

We delivered 49 updates this year, introducing faster processes, reducing manual work, and made approval workflows even smarter. Here’s what stood out:

11.62+ million bills processed

saving time and cutting paper usage.

2.4+ million purchase orders automated

ensuring compliance with a complete audit trail.

432K+ sales invoices processed

speeding up billing cycles for businesses worldwide.

48.1K+ vendor requests and 27.7K+ batch payments

handled effortlessly.

10.6K+ budgets synced

making it easier for businesses to maintain strong financial controls.

To put this into perspective, if every bill processed in ApprovalMax was a single sheet of A4 paper, the distance it would cover would stretch from New York City to Los Angeles. Plus, the purchase orders we handled would form a stack 2.5 times taller than the Eiffel Tower. The positive environmental impact alone is huge!

If you missed the webinar, watch the recording on-demand to catch up on all the highlights and insights. Here’s some of what we covered – watch the full webinar to learn more.

Key features of 2024

Automation highlights

2024 was a year of progress in automation. We introduced features to speed up accounts payable and receivable workflows, and cut down on repetitive tasks.

ApprovalMax Capture: Automates data entry by scanning and extracting bill details for approval workflows.
Dedicated inbox for bills: Centralises invoice collection via a personalised email inbox so no document is missed.

In 2024 alone, we processed 11.62+ million bills, with a new bill entering the workflow every 2.72 seconds.

Stronger controls

Building robust financial controls remained a priority this year. Tools like Budget Checking, Review Step, and Request Details Versioning helped finance teams improve accuracy and make informed decisions with up-to-date info at hand.

Budget Checking: Automatically compares approval requests with budgets to prevent overspending.
Review Step: Adds a dedicated stage to verify details before final approval.
Request Details Versioning: Tracks every change for a transparent and audit-ready process.

Alongside syncing over 10.6K budgets to prevent overspending, we also processed 48.1K vendor requests, giving businesses clearer oversight and better control of supplier relationships.

Simpler payments

A key part of the accounts payable process is making payments – and one where businesses sometimes lack strong controls. We launched our new feature ApprovalMax Pay in the UK to help customers protect their banking data and control the accounts payable process from start to finish, along with extra enhancements for batch payment approvals.

ApprovalMax Pay (UK): Lets businesses pay bills securely in ApprovalMax using open banking technology. It reduces the need to switch between different apps and systems, strengthens financial controls, and creates a clear audit trail for better oversight.
Review Step: Adds a dedicated stage to verify details before final approval.
Request Details Versioning: Tracks every change for a transparent and audit-ready process.

Alongside syncing over 10.6K budgets to prevent overspending, we also processed 48.1K vendor requests, giving businesses clearer oversight and better control of supplier relationships.

Faster workflows

No one wants their processes to lag behind the pace of their business. This year, we launched new features and enhancements to speed up workflows and help businesses reduce manual, administrative tasks and speed up decision-making.

Sales Invoice Management: Create, approve, and circulate invoices for internal approval before sending to customers, in just a few clicks.
Editing on Approval: Make adjustments to requests without having to restart the approval workflow.

Our customers saved significant time in their billing cycles with over 432K sales invoices processed this year.

Better access and collaboration

These days, collaboration is more important than ever as teams work remotely, from different locations, or on-the-go. We made it easier for teams to collaborate securely, no matter where they work, with ApprovalMax updates to support visibility and access.

Passkey Authentication: One-tap secure logins for faster access.
Watchers & Mentions: Notify team members and keep them updated on approval requests.

Our customers saved significant time in their billing cycles with over 432K sales invoices processed this year.

Addressing key challenges

During the webinar, we focused on solving common AP and AR frustrations. Here’s how our features help:

Slow approvals → Centralised workflows cut out email chains and delays.
Manual data entry errors → OCR technology reduces mistakes and speeds up processing.
Disconnected systems → Seamless integration with accounting tools keeps operations running smoothly.

Looking ahead to 2025

We’re excited for what’s next! Here’s a sneak peek at our upcoming features:

Xero Expense Approvals
ApprovalMax Capture for Xero & QuickBooks Expenses
Custom Request Forms and Recurring Requests
Custom Request Forms and Recurring Requests
Bill-to-PO Matching in NetSuite
Bulk Payments in ApprovalMax Pay

Stay tuned for more updates and join our upcoming webinars to see these features in action.

Final thoughts

2024 was a year of growth, recognition, and impactful updates for ApprovalMax. From record-breaking webinar attendance to industry recognition with Xero awards, we’re proud of the impact our updates have had on businesses globally. We’re excited for 2025 and can’t wait to help you automate accounts payable and receivable, and build stronger financial controls in the year to come.

Watch the webinar or learn more about ApprovalMax today.

Dee Johns believes the most powerful words are 'Let me tell you a story.' Her passion for storytelling helps her create meaningful, customer-focused experiences while removing friction, so customers never feel the complexities of the org chart.