Property Management and REIT sector companies require rigid control over expenditure for services, from maintenance, security, cleaning, landscaping, and all activities required to keep a property in peak condition. Accurate and timeous procurement processes are vital to facility management and the effective running of office buildings, hotels, resorts and shopping centres. In this highly competitive market, careful management of a wide range of suppliers, as well as prompt, authorised payments of utility and tax bills, and other invoices is paramount. Both the owners and the tenants who are in receipt of and pay for the services expect clear and accurate accounting for all operating expenses.
When managing property portfolios, whether they are your own or those of clients, there is increasing pressure to contain costs, improve services and reduce the risk of any potential financial deficits. The expectations are heightened as portfolios grow, making it imperative to deploy technology to manage processes and control spend to gain a competitive advantage in this price-sensitive market.
“With reference to our implementation of Fraxion, I am pleased to say that we have had a positive response from the business in that it has facilitated ease of business processes through the incorporation of our delegated authority being used as a framework to facilitate online expenditure approvals. Whilst we do not use the payment module, we are very satisfied to date and find that Fraxion complements our JD Edwards ERP system.
Fraxion has furthermore aided an audit trail, which is always a plus. The user friendliness of the programme and the ease of workflow certainly improves efficiencies.
Fraxion has also been very accommodating and compromising throughout the project and certainly is a company which one could engage with in long term business relations.“