How It Works
In complying with global best practices and compliance requirements, Fraxion has developed the Spend Optimisation Strategy (SOS) as a framework to improve spending efficiency.
The Fraxion Software Solution brings this framework to life, giving organisations comprehensive tools to control and reduce operating expenses. Fraxion provides managers with unparalleled, real time visibility of company expenditure by channelling all spend through a predefined Transaction Lifecycle.
Throughout this lifecycle, Fraxion automates all approval steps, enforces quoting policies, purchase order generation, receipting, payment and 3-way matching for all transactions, as well as providing the budget implications of all transactions at any stage in the lifecycle.