Procurement Software
All-in-one Spend and Procurement Management Software
Fraxion provides complete spend and procurement management software for purchase requisitioning, expense management, procurement and spend analysis in the cloud. Capture real-time visibility for your business purchasing and finances by migrating to a robust digital platform with modern analytics and cloud connectivity.
Manage your profitability by taking complete control of your costs. Get the business spending agility and control you need to navigate economic uncertainty and future-proof your business. Spend management helps organizations achieve increased earnings, by protecting operating profit and with the savings generated, provide more capital to reinvest in the company, its technologies, and future growth. As the procurement function is measured by cost savings, not revenue-assurance, adopting a cost-conscious strategy will ensure your business is better prepared for any economic eventuality going forward.
A spend and procurement management solution ensures more astute financial decisions and allows you to proactively manage spending before any costs are incurred. Automate and categorize your expenditure sources and easily decide if you can afford items and whether you actually need them. With an on-demand overview of your spend infrastructure, you’re able to discover saving opportunities and ultimately impose cost avoidance.
Fraxion’s true cloud procurement software is as feature-rich as it is intuitive. Do not compromise on functionality or simplicity when you can choose Fraxion’s comprehensive SaaS solutions – integrate mobility, a modern UI and an in-depth spend management suite for complete operational spend control and analysis.
With 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 Order Functionality with Advanced Approval
Fraxion spend management and procurement software 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.
The control framework configured with your company policies enable your employees to purchase goods and services with ease and speed, without the risk of overspending or fraud.
Fraxion’s purchase order tracking workflow automates the requisition-to-purchase order process, ensures policy compliance, channels expenditure to authorized suppliers, provides budget visibility at decision points and routes requests through escalating levels of approval.
Fraxion ultimately promotes accountability and responsible spending. Accurately record every transaction, allocate costs to appropriate project budgets or costs centers, accelerate processes and ensure that every cent is approved before it is spent.
Invoice Management and Approval Software
Fraxion facilitates invoice matching to purchase orders and receipts and automates approval and oversight. Duplication, overspending and paying for undelivered items and services not rendered is eliminated.
Electronically processing invoices through Fraxion invoice management software not only increases efficiency and accuracy but replaces paper-based processes. Real-time visibility of invoice due-dates enables organizations to take advantage of vendor discounts for early payments.
Accelerate turnaround times, reduce the time and resources required to complete tasks and unlock saving opportunities at AP level.
Cloud Vendor Management System
Manage supplier take-on and ensure that all spend occurs with approved partners with Fraxion as your vendor management system.
Fraxion centralizes procurement and enforces the control and consistency of all purchasing activities across the board. Embedded controls ensure that the required number of quotes are obtained at request phase, preventing maverick spend from unauthorized suppliers and limiting once-off purchases that diminish volume discounts. These agreements provide certainty of supply, quality and unit price over time, trade and settlement discounts and internally direct all spend to preferred suppliers.
Fraxion provides the tools to manage and improve supplier relationships, mitigate risk and ultimately reduce expenditure. 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 Procurement Software Integration
Fraxion PunchOut enables an intuitive online shopping experience that provides integrated access to millions of products while leveraging established approval workflows in your procurement software.
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.
PunchOut enables more efficient order processing, through online eCommerce automation and integration that saves time and streamlines the purchasing cycle.
Expense Claiming and Travel Cost Management
Streamline the submission of expense claims while speeding up reimbursement processes through your spend management software. Fraxion provides visibility of all expenses and replaces paper-based requisitions with electronic documents and an efficient invoice management workflow hosted in the cloud.
Automate and control the entire process for local and international travel spending: from request creation through to 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 procurement processes are underpinned by company policies and approval thresholds, ensuring compliance and control over business expenses.
Spend Analytics Software and Active Policy Management
Configure your company policies and actively manage compliance with alerts and notifications automated through your procurement solution. Fraxion’s advanced spend analytics software enables dashboard views of purchases by category with reporting power and insights.
Get visibility into budgets at decision points and quantify the level of risk in requests before incurring any costs. With visibility into available and committed spend, approval limits and spending policies enforced, configured budget limits cannot be breached. Advanced spend analytics provide visibility into all levels of spend and the data necessary to reduce discretionary or non-essential expenditure. Get ahead by leveraging your purchasing data and executing where it counts.
Seamless Procurement Solution Integration with Your ERP Software:
The only true cloud spend management solution for Acumatica
Fraxion is an Acumatica-Certified Application (ACA) for spend management solutions, reflecting a commitment to meeting Acumatica’s technology, functionality and quality standards. Integrate your SaaS ERP with native cloud procurement software to consolidate your purchasing systems and capture real-time transaction visibility within a centralized database. As an ACA, Fraxion will also remain aligned with the Acumatica roadmap and receive access to regular updates.
Extend your Sage 100 procurement capabilities with Fraxion
Fraxion is a Sage Gold Development Partner certified for procurement solution integration with your Sage 100 ERP. Extend your Sage software accounting functionality by seamlessly integrating spend management with your Sage General Ledger, project management, budgeting and more. Eliminate duplicate entry and streamline your entire procure-to-pay processes when you combine Fraxion with Sage 100 and Sage 100cloud.
