Success in the Food and Beverage industry can be impacted by ever-increasing food prices and price sensitive consumers. Given the competitive nature of the industry, with mergers and acquisitions prevailing, intricate supplier networks at play, order management demands and limitations with perishable supplies; cost containment is paramount to the growth and success of companies in this industry. With no adequate technology in place to review the impact of spend against budgets, authorisation of expenditure before it is incurred and no means of enforcing company spending policies, substantial losses are imminent.
“The use of Fraxion has cut down on paperwork and administration time for financial staff. Since we started using Fraxion the staff’s frustration levels with regards to chasing down paper and awaiting spend authorisations has decreased significantly. Not only has our entire control framework with regards to indirect expenditure strengthened, but we now have access to real-time, granular information that allows us to make meaningful management decisions in a timely manner.”