System Description

Spend management solution that focuses on controlling all the indirect spending activities of the Company. Enables approved users to perform specific P2P roles.

ERP systems in general are more effectively used for the procurement of direct spend (inventory/stock). They have wider functions as well and limited procurement functionality is merely one of the functions available in the ERP solution. Typically Procurement ‘add-on’ modules are required  to deliver on this business requirement, which still lack the wealth of functionality that Fraxion offers on a more cost effective basis.

Ease of Use

Designed with the end user’s experience in mind, and characterised by broad adoption at customers, Packed with intuitive features that make the solution exceptionally easy to use.

Not known for ease of use.

Value

Fraxion’s unique EDGE Licensing™ model allowing cost-effective deployment to the edge of the organisation.

With Fraxion’s EDGE Licensing™ model, you only pay for certain key users, with the bulk of system user licences provided free of charge.

Licence fee and installation fees extremely competitive by international standards.

Licence fees are generally prohibitively high, typically payable in foreign currency, resulting in a narrow deployment typically to certain departments such as Accounts or Procurement only.

Deployment

The solution can be hosted or deployed onsite. It’s a web accessed solution that can be accessed via the intranet or internet

Typically ‘client-server’ based and therefore cannot be easily accessed via the internet or intranet.  Require ‘thin client’ technologies to facilitate access remotely, or ‘fat clients’ for networks, therefore is generally deployed onsite. 

Benchmarking

Benchmarking against the peers and the community across dozens of KPIs.

Not Available

Dashboards

Included.  Dashboards provide easy access to actionable spend items and analysis.

Not included. Additional modules required to perform analysis against procurement transaction flow.

Predictive Analytics and Alerts

Easy-to-manage real-time alerts inform managers and executives of spending thresholds and budget compliance.  With Fraxion, managers can take action on projected overspending before it’s too late.

Not Available.

Modules

Fraxion is delivered “out of the box” with all of the modules a typical organisation would require to implement and manage a sound spend management / procurement strategy, such as:

• Capex
• Purchase & Payables
• Catalogue Requests
• Expenses Claims
• Invoice Settlements
• Petty Cash
• Credit Notes
• Travel
• Leave
• Supplier Take-On
• Voucher Matching
• Receiving
• Payment Release
• Tolerance Approval
• Works Authorisation

No additional expensive licence fees are payable for the individual modules listed above.

ERP solutions deploy their functionality through ‘add-on’ modules such as Procurement, Workflows, Escalations, MS Outlook Integration, each quoted separately at significant cost to the customer, on a per user basis. 

Approvals

The Approvals process is simple and can be based on any combination of the areas listed below, and comprises both notification and escalation functionality:

• Spend type
• Transaction value
• Cumulative value
• Cost Centre
• Budget visibility
• Tolerance limits
• Company
• Risk
• Compliance

The Approvals process typically has to be configured based on expensive work-flow customisation. End result is often just notification functionality, without escalation.

Notification & Escalation

Notifications for approvals are done via e-mail. In addition, for each approver a proxy can be nominated to approve on behalf of, if the approver is...

• Out-of-Office
• Away on Leave
• Off sick etc.

Mail notifications are typically only sent to the User inbox if the Outlook integration module is deployed.

Budgets

Budgets are displayed for approval purposes that display both period & YTD for

• Paid amounts
• Committed amounts
• Requests to be approved

Budget visibility is rare and is typically available on Requisitions and Purchase Orders only.

Alternate Approvers

The system allows for a delegated approval structure. Proxy users can be nominated to approve on behalf of Users who are out-of-office or away on leave.

Approvals are based on procedural rules only that have to be configured in the applicable ‘add-on’ module.  A specific procedural rule has to be configured to address this requirement.

Approval Groups

The approval hierarchy is by Line-Manager or Cost Centre. Users report into Line-Managers who bestow approval limits per request type on subordinates.

Approval groups have to be configured as part of the procedural rules that govern the applicable ‘add-on’ module.

User Interface

The user interface has been designed for easy navigation and data input. Drop-down selections can be restricted depending on the user’s role and access rights e.g. Company or Cost Centre. This ensures accuracy of data input and ease of use.

The user interface is typically complex and requires a high degree of to use the particular ‘add-on’ module effectively.

System Interface and Integration into ERP solutions

The system interface integrates seamlessly with almost all ERP solutions:

• Accounts Payable of the ERP system
• Purchase Order module of the ERP system

Besides the interface points listed above, other information like Supplier and GL codes are also interfaced to the ERP system.

N/A

Audit Trails

The system provides full track and traceability across a host of transactions via recorded audit trails

Audit trails only provided within the applicable software modules.

Reporting

The system provides reporting in the following  ways:

• A number of standard text based reports
• SQL Reports
• Data views that can be linked to BI reporting tools like Qlikview, Excel etc.
• In addition a number of standard reports are shipped.

Limited pre-defined reports with report customisation at a cost.