Fraxion
A powerful procure-to-pay suite for proactive spend management.
The mobile and easy to use solution enables effective purchase requisition-to-PO, expense and approval management, AP workflow management and spend analysis for mid-sized companies.
Fraxion automates workflows for purchase requisitions, expense reports and invoice approval requests. Flexible multi-level approval workflows provide internal controls and streamline processes with email notifications and in-app alerts. Manage supplier take-on and approval, request quotes and attach supporting documents to verify requests.
Budget visibility and policy controls improve purchasing decisions and behavior to ensure that spending remains within defined budgets at the GL account, department, project or vendor levels.
Create purchase orders from approved requisitions for internal control over spending and to facilitate invoice matching.
Ensure compliance with spending policies and improve auditability with full audit trails and compliance with auditing protocols.
Improve visibility over spending with robust searches, reporting, business intelligence and advanced spend analytics.
Simplify purchasing with vendor PunchOut to suppliers or internal catalogs, while leveraging requisitioning, approval workflows and PO generation capabilities in Fraxion.
Fraxion is effective as a standalone spend management solution or integrated with ERP and accounting solutions
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About Fraxion
A powerful procure-to-pay suite for proactive spend management.
Fraxion is a leading spend management solution for requisition-to-PO, expense and approval management, AP workflow management and spend analysis.
Maintain profitability by taking control of your costs. With a spend management solution in place you can make more astute financial decisions and proactively manage spend before any costs are incurred. Fraxion’s mobile app enables productivity, reduces process delays and guides purchasing decisions for employees on-the-go.
Fraxion’s true cloud solution integrates mobility, a modern UI and a comprehensive spend management suite for transparency, proactive operational spend control and analysis.
For remote or dispersed teams – providing real-time budgetary insight ensures that all staff are empowered to make responsible spending decisions, and managers have the peace of mind that financial control will prevail.
Optimize your business processes, request, approve or reject requests wherever you are. Accelerate and control your approval workflows, achieve efficiency, visibility and auditability. The time and cost savings will boost your bottom line.
Requisition-to-purchase order with flexible approval workflows:
Fraxion gives you the visibility and tools to manage who buys what, from where and at what price. These factors are the key to achieving effective spend management.
Fraxion automates the purchase requisition process, ensures policy compliance, channels expenditure to authorized suppliers, provides budget control at decision points and routes requests through escalating multi-level approval workflows.
Fraxion promotes accountability and responsible spending: Track every transaction, allocate costs to project budgets or costs centers, accelerate processes and ensure that every request is approved before any costs are incurred. Access audit trails that detail each activity in the transaction lifecycle.
Invoice approval:
Fraxion streamlines invoice processes and facilitates 3-way matching – duplication, overspending and paying for undelivered items and services not rendered is eliminated.
Accelerate turnaround times, reduce the time and resources required to complete tasks and unlock saving opportunities at AP level.
Embedded controls ensure that the required number of quotes are obtained at request phase, preventing maverick spend. Strategic supplier agreements can be negotiated through consolidation of orders and Fraxion data retrieval, enabling you to leverage your data to qualify for more favorable terms.
PunchOut:
Fraxion PunchOut enables an intuitive online shopping experience and integrated access to millions of products while leveraging established requisition and approval workflows and internal controls in Fraxion. Simplify purchasing processes without losing financial control. Users can access PunchOut catalogs within Fraxion’s eProcurement interface. Catalogs are maintained by PunchOut suppliers, and buyers within Fraxion can take advantage of more accurate item details.
Catalog:
Set up and maintain approved supplier catalogs, shop and review product details with ease. Simplify procurement, repeat purchases and fixed ordering.
Expense claims & travel management:
Streamline the submission of expense claims while speeding up reimbursement processes.
Automate travel requests and the processing of invoices, the generation of travel itineraries, acknowledgement of travel expenses incurred and the processing of invoices against travel costs.
These effortless and transparent processes are underpinned by company policies and approval thresholds, ensuring compliance and control over business expenses.
Spend analysis & active policy management:
Configure your company policies and actively manage compliance with alerts and notifications. Fraxion’s advanced spend analytics enable dashboard views of spend by category with reporting power and insights.
Insider Information on Fraxion
Insider members can get detailed information on market fit, capabilities on Fraxion.
Featured Content
Proactive spend management
Mobile purchase requisitioning, expense and approvals with budget insight
PunchOut to strategic vendors
Invoice approvals and 2 or 3-way matching
Budget insights, audit trails and internal controls