FRAXION

A procurement management solution would enable your procurement team to simplify your procurement process.

SPEND MANAGEMENT

Fraxion

When a company doesn’t know how much it’s spending and which suppliers it’s supporting in the first place, it’s impossible to fully optimize the procurement department. 72 percent of organizations admit they lack complete visibility into their purchases. Introducing a procurement management solution would enable your procurement team to simplify your procurement process.

Fraxion

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procurement advice

Budget control

Do your projects routinely run over budget? If so, you stand to benefit from
choosing a spend management platform that enables you to enact budget
controls on projects, cost centers and departments and ensure you’re not
overspending. With Fraxion, approving managers will be alerted whenever a line item runs over budget

Cloud Solution

Fraxion allows members of your procurement team work from anywhere, and on almost any device. Your procurement team will be able to access purchase orders and track expenses wherever the team members happen to be, which allows them to make better informed decisions, faster. Fraxion frees your IT team from having to maintain the platform

Travel expense pre-authorization

Fraxion enables you to pre-authorize travel expenses. That way, you’ll be able to accurately estimate how high your costs will be on the upcoming business trip. And your employees won’t be stressed out about whether or not they’ll be reimbursed for certain expenses. They won’t be worried about delays in turnaround times either– reimbursement requests can be made and approved at the click of a button.

Streamlined Purchase Orders

Your business would benefit from an e-procurement platform that enables you to quickly process purchase orders and easily track approvals. These systems enable members of the
procurement team to submit requisitions for approval by selecting vendors, items, quantity, cost, and other data. By using new tools to process purchase orders, your procurement team benefits from increased visibility and better communication. Users will know the status of their requisitions, and they’ll receive system notifications of any action items that pertain to them.

Multi-currency conversions

Does your team regularly travel internationally? If so, you can further optimize your procurement process by using a feature that supports multi-currency conversions.

Punchout automation

Automate your procurement by enabling your employees to fill their shopping carts on vendors’ websites without leaving the e-procurement system itself. That way, the data from each transaction is automatically imported into your system and routed to the appropriate manager for approval.

AP automation

If your company hasn’t automated AP workflow yet, you’re losing ground to your competitors.
AP automation tools minimize the time it takes to process an invoice and make it simple to match invoices with purchase orders. Such tools also enable you to automate vendor management by customizing specific accounting requirements for each supplier. Your staff will also be alerted every time an invoice is received, so none of your accounts will slip through the cracks.

Mobile approval

Fraxion is designed with mobile in mind. The platform gives managers the ability to securely manage purchase orders and other requisition requests when they’re traveling or at conferences—all from the palm of their hands.

Business intelligence

Fraxion offers advanced business intelligence modules. This will enable your employees to easily access requisition information, invoice data, purchase orders, risk analytics and real-time budgets in one location.

SOX Compliance

Fraxion enable organizations to sidestep the cumbersome process of manually ensuring compliance. Instead, managers are able to establish and evaluate internal purchasing controls, tracking requisitions from creation to receipt. All approved requests are stored in one central repository that can be audited at any time, making it extremely clear which departments are spending the most money

Project accounting

Fraxion offers advanced business intelligence modules. This will enable your employees to easily access requisition information, invoice data, purchase orders, risk analytics and real-time budgets in one location.

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