Non Profit organisations typically depend on donors to fund their programs, are very cost conscious and reliant on procurement solutions. Non Profits need to deploy a high percentage of their donations or funding towards core programs while minimising overhead expenses. Rigid financial management of donor funds is required and they need to maintain core programs and services in times of high demand, even as donations or funding declines. As a consequence, Non Profit organisations operate on tight budgets with small, dedicated staffs.
Governance and control issues are of critical importance to Public Sector entities. In addition, they must constantly strive to gain the best possible value from limited funds available. One of the most important ways of doing that is to closely control the way money is spent for the many goods and services they procure each year. This means ensuring that purchases are properly authorised and accounted for within established budgets as well as sourcing suppliers to deliver the best value.
“Through the introduction of Fraxion, we have an electronic record of the entire procurement cycle linked to each grant, which ensures efficient management of expenditure per grant, procurement compliance and timely payment processes to suppliers.”
Our Non Profit & Public Sector customers have been able to: