1. What are the authorisation limits in place over the transactions initiated via IDEAL™?
The set-up of the authorization matrix can be done according to the existing signing arrangement or a different set of arrangement. Both approaches require approval from sole proprietor/partners/directors. The authorization limit in IDEAL™ can be based on the highest transaction value in a batch or total batch amount.
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2. Can different authorisation limits be applied to different transaction types?
Different authorisation limits can be applied to different transaction types in IDEAL™. For example, collection-related transactions can be set-up to have only 1 level of approval for any amount; where payments-related transactions require 3 levels of approval based on the amount.
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3. What is the difference between single management control & dual management control?
- Single management control: the users can make and authorise his / her own transactions; this is applicable for small companies where IDEAL™ is operated by one person
- Dual management control: there is a segregation of duties between makers and authorisers; Maker is to create the transaction, while authorizer approves it. Maker and authorizer cannot be the same person.
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4. Can the approver authorise the transactions when he is out of the office, for example, overseas?
IDEAL™ is accessible anywhere as long as there is an Internet connection. The authoriser can login to IDEAL™ when he is out of office or on overseas assignment to approve the transactions with Token.
For security reason, it is not recommended to use in publicly accessible internet connection for security reason.
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5. What if the approval is done after the cut off time in IDEAL™?
When the authorisation is done after the cut off time, IDEAL™ will prompt the authoriser that the transactions have passed cut-off time, and will provide an option for the system to automatically adjust the value-date to the next business date. Alternatively, the authoriser can choose to reject the transactions and have the maker perform the necessary amendments before approval.
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