Budget Awareness
Making an informed decision on approving spend is almost impossible unless managers know exactly how much they have available to spend. Fraxion provides managers and approvers with an easy to read budget overview for each transaction just one click away at any stage in the transactions' lifecycle. The cost associated with every transaction is assigned to a General Ledger account, but in addition to this Fraxion allows you to assign costs outside of the constraints of your financial system - to a project, for example.
The Fraxion budget overview shows the anticipated impact on the budget for the account, project or cost centre for which the request is submitted, simultaneously showing all other requests submitted against that account, project or cost centre. Managers now have the exact budget position in real time and can make an informed spending decision right there and then.