capex

Mitigate the risk associated with Capex purchasing through embedded controls that enforce spending policies and approval processes. Fraxion enables capturing, saving and access to all mandatory fixed asset information.

  • Tag by asset location or asset type
  • Custom fields can be configured to your specific requirements
  • Alerts notify approvers of potentially high risk transactions and policy contraventions
  • Create rules for Capex purchasing that enforce quoting procedures or a full RFQ process
  • Assign asset or insurance claim numbers to requests
  • Allocate purchase requests by asset class
  • Differentiate Capex purchasing processes by enabling higher approval limits and enforcing an alternate delegation of authority

cash advances

Manage cash disbursements with detailed tracking to projects, budgets or funders with complete audit trails. Fraxion’s Cash Advances module can be used as a petty cash function or for more complex, higher value pay-outs where more detailed reconciliation is required.

  • The cash advance workflow includes a request, approval, disbursement and reconciliation process
  • Set rules and email alerts to notify specific roles or employees with escalation where required
  • Create and save private or public templates for ease of use and efficiency going forward
  • Unlimited supporting documentation can be uploaded to validate expenditure and clarify variances
  • Variance tracking flags discrepancies and notifies relevant contacts. These alerts enforce compliance, drive control and ensure that reconciliation is done timeously

catalogues

Give your employees access to relevant products from approved suppliers via Fraxion’s catalogue module. Users can select catalogue items from any combination of suppliers within a single requisition and manage the process of creating supplier specific purchase orders once requests have been approved. Track spending with suppliers to leverage your buying power and negotiate pricing.

  • Set up and maintain catalogues with ease
  • Track spending by supplier and view date ranges
  • Administrators can upload product images from existing supplier catalogues. Users can shop for goods by selecting required items from these product images
  • Select catalogue items from various suppliers and submit requests for approval. Once approved, Fraxion collates the items, and purchase orders are generated per supplier
  • Set up standard shopping carts that include master product lists for fixed purchases; these items and quantities can be adjusted as required
  • Line item reporting functionality facilitates pricing negotiations with suppliers

contracts

A central contract repository with on demand access to applicable information: Fraxion’s contract module provides a secure storage platform with alerts and administration features to streamline your contract management requirements and obligations.

  • Archive contracts and relevant information
  • Automated alerts notify you of contract expiry dates and scheduled tasks
  • Upload unlimited supporting documentation
  • Reference contract terms on demand
  • The multilevel contract approval process eliminates the risk of collusion