This sector is typically comprised of service oriented organisations that tend to be more workforce based, with very little direct expenditure. The bulk of expenditure is usually indirect; a category of spend principally not managed by ERP or accounting solutions, leaving a gap for maverick purchasing and poor procurement practices to occur. With limited control over operational expenditure and a lack of cohesion across spending policies at multiple locations, security companies are at great risk of overspending. With no adequate technology in place, inefficient manual processes take place with no means of enforcing company spending policies, and expenditure is authorised after it is incurred; such inefficiencies can lead to substantial losses. Implement controls and achieve cost reduction by deploying Fraxion’s user-friendly spend management technology.
“Fraxion has centralised our procurement and accelerated procure-to-pay processes, without being too complex to extend to a large number of non-financial users. Electronic authorisation has reduced processing turnaround times and simplified purchasing activities.”
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