We want to benchmark other companies: how many approvals are required for small dollar transations (under $1,000)? My company has about $9B in revenue and our corp expenditures are about $3B per year.

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In the area of approval thresholds, TAPN has benchmarks related to check signature practices, specifically whether organizations allow automatic signature, and if so, the limit for automatic signature; and for dual signatures, the thresholds at which two signatures are required.

On the question of the threshold above which two signatures are required on a check, here are the results for all participants:

Mean $271,956
Median $25,000
10th percentile $5,000
25th percentile $10,000
75th percentile $100,000
90th percentile $500,000

As you can see, the 25th percentile threshold is $10,000. That indicates that a quarter of all participants had a threshold at or below $10,000 for requiring a second signature on a check.

Isolating organizations with annual revenues of $5 billion to $20 billion in revenue, the data looks like this:

Mean $203,813
Median $50,000
10th percentile $5,000
25th percentile $10,001
75th percentile $150,000
90th percentile $750,000

So even in larger organizations, the threshold for a second signature is still $10,000 for a quarter of the group. However, keep in mind that is a smaller sample, and the margin of error here is higher than for the entire survey sample.

You might want to post your question to The AP Network’s Forum to solicit input from members regarding their approval limits.

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