Industry | Public Sector

corporate
governance

For organisations in the Public Sector, corporate governance and financial control is paramount. Public funds need to be managed rigorously and with limited resources available, it is important to derive the utmost value from suppliers and agreements. All costs must be authorised, within budget and accounted for, with clear visibility of expenditure for auditing purposes.

This sector is often burdened with manual processes, archives of paper invoices and cumbersome systems. With no visibility of how funds are being spent and no policy enforcement tools in place, governance issues and mismanagement of funds can arise.

There is a growing need for technology to simplify processes, increase efficiency and enforce policies and control in the Public Sector. Municipalities and SOE’s can achieve clean audits by eradicating procurement irregularities and fruitless expenditure by deploying technology that imposes pervasive financial control.

Financial Manager

Willie van Zyl

“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.”

  • Enforce compliance with applicable legislation such as the PFMA, MFMA and any other relevant government policies and legislation.
  • Optimise spending within acceptable budgetary constraints to achieve best procurement practice.
  • Achieve transparency through a centralised control framework that enables unlimited documents uploads, data analysis and spend visibility.
  • Drive communication between departments and improve supplier relationships.
  • Bolster internal controls, expose non-compliance and drive accountability.
  • Accurately track B-BBEE credentials with exception alerts and detailed reporting functionality.
  • Make informed decisions and achieve better budget control and accurate forecasting.
  • Ensure that only approved suppliers are accessible to employees and enforce quoting policies where necessary.
  • Channel spend to authorised suppliers and pre-negotiated contracts.
  • Source goods and services from multiple suppliers for faster turnaround times and best value.
  • Eliminate paper-based processes and improve accuracy
  • Get employees up and running with little to no training on Fraxion’s multi-language interface.
  • Through ERP integration, manage contract disparities through workflows that enable changes to purchase orders with visibility of commitments against budget.
  • Manage contracts, catalogues, sourcing and suppliers and leverage their full buying power
  • Convert supplier pricing into catalogues and maintain contract compliance.
  • Ensure that expenditure is properly coded for both financial allocation and procurement classification via the SCOA (Standard Chart of Accounts).
  • Entrench good financial oversight and spending behaviour.
  • Manage public resources judicially with full audit trails.

Public Sector customers

Click on the highlighted company logo below to view their success story