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We’re excited to release the latest updates for our February Product Release, available on the evening of the 19th of February for Wiise Australia and New Zealand environments!
Vendor Bank Account Approval Workflow
To help you reduce payment fraud risk and strengthen financial controls, we’ve introduced the Vendor Bank Account Approval Workflow. It adds a structured, configurable approval process for vendor bank account changes, ensuring updates cannot be used in payments until formally approved.
This protects organisations from fraudulent or accidental changes, supports compliance requirements, and reduces the need for manual checks before payment runs by:
- Reducing the risk of vendor impersonation and fraudulent payments
- Preventing unapproved bank details from being used in payment journals
- Strengthening segregation of duties and internal financial controls
- Providing a clear audit trail for auditors and controllers
This enhancement is especially valuable for Finance Managers, CFOs, AP teams, and organisations focused on fraud prevention and audit readiness.
Block New Item Approval Workflow
To help you maintain clean and accurate item master data, we’ve introduced the Block New Item Approval Workflow. It ensures newly created items cannot be used in transactions until they’ve been formally reviewed and approved.
Items are automatically set to Blocked on creation, and if a user attempts to activate them, an approval request is triggered and the item moves to Pending Approval. This prevents incomplete or misconfigured items from flowing into sales, purchasing, inventory, and financial reporting by:
- Improving item master data quality
- Preventing incorrect costing and posting setups
- Reducing duplicate or misclassified SKUs
- Protecting stock valuation, planning, and margin reporting
This enhancement supports Inventory Managers, Product Owners, Finance, and Operations teams who need strong governance over master data.
To learn more about the new features available, you can read our release notes base article visit our website.
