Yes, Fraxion can track spend on multiple levels. Fraxion spend management reports enable managers to generate budget and PO reports across accounting codes, suppliers, projects and users.
Yes, with Fraxion it is possible to not only decide what spend you manage, but also how you manage it.
From configuring approval channels and individual spend thresholds to setting quoters and different quoting rules, Fraxion is fully configurable for every different type of spend.
The Fraxion engine also allows for custom modules that are as unique as the spending processes that they manage and can be rapidly and easily configured by using the Fraxion Spend Management Model.
From the moment a requisition is submitted, Fraxion automatically submits the requisition for approval and notifies the appropriate approver and escalates requests when predetermined approval limits are reached. Approvers can authorise purchases remotely.
Fraxion software provides improved control, compliance and risk management, which is required by the Sarbanes Oxley (SOX) act.
Fraxion enables segregation of duties and manages risk by limiting approvals and escalating levels of authority. Detailed audit trails can be accessed for every request raised in Fraxion.
Yes, the integration provided as part of the Fraxion spend management solution has evolved over a number of years and is the product of experience gained by integrating with a wide variety of financial management applications in use by organisations all over the world. As a software package designed to control spend at the transactional level, it is vital that Fraxion enables these completed spend transactions to easily be passed into any one of a number of popular financial management systems that will further process these transactions.
Fraxion offers a number of different options for integrating into your existing accounting software. This can be as simple as the generation of a spreadsheet record of transactions, or as advanced as a complete, real time integration that is custom designed to fit perfectly with the specific configuration of your accounting package.
Fraxion’s Telephone and Remote Support service (TeleSupport) provides high-quality support to help you make the best use of your investment in Fraxion’s software.
On-site technical support is available for supported customers.
While Fraxion facilitates the full procure-to-pay transaction lifecycle for all purchases, including inventory, Fraxion itself does not maintain inventory balances or values . Fraxion can be configured to integrate with the underlying ERP solution where full stock / inventory control can be maintained.
The total investment for Fraxion Spend Management site includes software, licences for key users and EDGE Licenses™, installation services and the first year’s annual support and maintenance.
Fraxion also offers the Fraxion Leasing Plan, which covers all the above mentioned software, services and support and maintenance, at a fixed monthly fee.To request a quote, please contact us
Fraxion covers the following security aspects:
This security functionality is implemented as application extensions of the Windows network server security subsystem. Hence the Windows or Active Directory Domain controller is recognised as the authority responsible for user account administration and validation, and all participating servers in the solution require trusted relationships with this authority.
Yes, Fraxion enforces spending policies and budgets per user and per request. Budget owners have access to real-time views of committed spend and available resources.
Fraxion offers various Service Level Agreement (SLA) packages, to which clients can subscribe to receive services outside of the standard maintenance & support program. Even clients that do not frequently require non-standard support services may find these SLA packages beneficial as they entitle you to additional value-added offerings such as discounted services and training, post Implementation care, preferential treatment of support issues, service credits and committed issue resolution times.
The database tier is physically implemented as a Microsoft SQL Server database. Access to the data is via Microsoft OLE DB Data Access Services. The programming language used is Microsoft Transact SQL.
The following steps will be executed during the implementation:
Our research and development teams are constantly working to improve the capabilities of our software. New releases are signified by a change in the integer part of the version number (e.g. version 4.0 to 5.0), and are shipped to all customers under support in a general release. These releases contain major feature enhancements including new functions, technology and performance enhancements. For customers under support, software upgrades are provided free of charge as part of the Fraxion Upgrade Protection scheme.
Spend Management is the way in which companies control and optimise expenditure. Spend Management represents a complete view of the activities involved in the procure-to-pay process. This process includes spend analysis, sourcing, procurement, receiving, payment settlement and management of accounts payable and general ledger accounts.
eProcurement is the term used to describe electronic methods of conducting business transactions as well as efficient supply chain management through a web-based solution. An eProcurement system automates, organises and controls interactions with preferred suppliers. Embedded controls monitor costs and assure maximum supplier performance. Business leaders can consolidate orders, negotiate discounts and leverage agreements to achieve more competitive prices. Decision making is simplified with instant access to related documents and mandatory data.
Fraxion is a Microsoft Certified Partner, and the software is designed to run in most major Internet browsers, including Microsoft Internet Explorer and Mozilla Firefox. Fraxion was designed to be fully compatible with all versions of IE.
Fraxion is the solution of choice due to the user-friendly interface, scalability, which enables the solution to grow with your company and the cost-effective license model, which extends control to the edge if the organisation.
Since Fraxion is a web-enabled application, the system can easily be deployed to multiple locations and new locations can easily be brought on board. The system can be accessed either via a VPN (Virtual Private Network) or via the Web, depending on the organisation’s preference. Once a request is submitted from a branch, the request will be automatically submitted via email through to a line manager at head office for approval. This can then be approved or declined and move on from there. This gives the organisation the necessary control whilst pushing the ownership down to the individual users.
Cost saving and control is a top priority for every organisation. In the current economic climate every cent must be optimised and savings realised wherever possible. Those responsible for managing spend turn to solutions like Fraxion to gain visibility, reduce costs and protect financial resources.