Does Oracle Project or any other Oracle application have the Organizational transactions approval pr

We have a requirement to come up with an automated process for our organizational transactional approval requests.

We are on Oracle 11.5.10.2 planning to upgrade to 12i next year. Running most of core financial applications, AR, GL, AP, PO including fixed assets, Cash Management, Treasury, iExpense and iprocurement.

The business requirement is to come up with a system to be able to maintain our Organization transaction approval requests.  This system should be able to notify the appropriate approvals to review and their approval processing. The Organizational transaction approval request will be setup in different level depending on the category.  For example, Organization new initiative, new IT projects, Organization vendor contracts, new/update pricing, Sales terms, promotions, Head counts, Real Estate, Licensing, collaboration, Capital projects, Grants, Legal, Accounting/Auditing/Tax Services, etc...