What is Fraxion?
Fraxion is a unified procure-to-pay platform designed specifically for mid-market organizations. It brings purchasing, AP, expense management, and spend visibility together, helping finance teams manage and control company spend from one connected system.
The platform supports the entire purchasing lifecycle with automated requisitions and POs, configurable approval workflows, real-time budget and policy enforcement, PunchOut and catalog purchasing, AI-powered invoice processing, spend analytics, payments, and mobile access.
Fraxion creates a complete, auditable record of every transaction from the initial request through final payment. Built for the Office of the CFO, it can be adopted incrementally—starting with procurement or AP automation and expanding into a complete procure-to-pay solution without requiring a reimplementation.
SOC 2-compliant and integrated with leading ERP and accounting platforms including Sage, Microsoft Dynamics, NetSuite, QuickBooks, and Xero. For more than 20 years, Fraxion has supported organizations across healthcare, life sciences, agriculture, education, and natural resources.
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Fraxion Categories and Features
Spend Management Software
Fraxion offers a comprehensive spend management platform designed specifically for mid-market finance teams, enabling them to gain full visibility and control over their expenditures. With purchasing, accounts payable, expense management, and spend analysis all integrated into one cohesive system, Fraxion eliminates the need for redundant data entry, disjointed approval processes, and information gaps. Each transaction is processed through a unified approval engine and policy framework, ensuring complete audit trails from the requisition stage through to payment. For CFOs, this translates to immediate insight into all categories of spending, proactive enforcement of budgets and policies, expedited month-end closing processes, and the consolidated financial data necessary for informed decision-making throughout the organization. The platform's advantages include the eradication of unauthorized expenditures, lower costs associated with invoice processing, accelerated purchasing and closing timelines, comprehensive audit readiness, and insightful spend analytics. It seamlessly integrates with leading ERP and accounting systems such as Sage, Microsoft Dynamics, NetSuite, QuickBooks, and Xero.
Purchasing Software
Fraxion offers a comprehensive software solution for purchasing and purchase order management, designed specifically for mid-sized businesses. The software streamlines the complete purchase order workflow, starting from requisitions and moving through to the approval of purchase orders and vendor deliveries. The system ensures that purchase orders are only created from requests that have received approval and comply with budgetary and policy guidelines. It incorporates multi-tier approval workflows, real-time budget verification, and policy enforcement right at the request stage, effectively preventing unauthorized expenditures before they occur. Notable features include automated processes for converting requisitions into purchase orders, automatic generation and dispatch of purchase orders, customizable templates for purchase orders, management of change orders, consolidation of purchase orders, receiving functionality, vendor evaluation, detailed audit trails, and mobile-friendly request, approval, and management options. The platform also supports PunchOut and catalog purchasing. The system allows users to analyze outstanding orders, vendor expenditures, and the efficiency of the purchase order cycle, facilitating consolidation efforts for volume discounts and providing benchmarks through integrated spend analysis tools. This solution is part of Fraxion's comprehensive procure-to-pay platform and seamlessly integrates with leading ERP systems.
Procurement Software
Fraxion’s procurement software empowers mid-market finance teams with proactive oversight of all purchasing activities, preventing unauthorized expenses, streamlining approval processes, and avoiding budget overruns. Each purchase request follows customizable approval workflows, accompanied by real-time checks for budget adherence and policy compliance at the moment of submission. Only those requisitions that meet approval criteria and align with policy can generate purchase orders, leading to quicker purchasing processes, enhanced compliance, and reductions in operational costs. Key advantages include shorter purchasing cycles, precise cost distribution, comprehensive audit trails, and immediate visibility into spending. Employees can submit and obtain approvals from any device through the mobile application, allowing them to purchase from approved suppliers, internal catalogs, or via PunchOut, ensuring that all transactions remain compliant with company policies. Fraxion’s solution is part of a comprehensive procure-to-pay platform that seamlessly integrates with accounts payable automation, providing full visibility and control over spending.
Procure to Pay Software
Fraxion's procure-to-pay software empowers mid-sized finance teams to initiate their processes at their own pace, allowing them to evolve into a comprehensive P2P system without the need for a complete reimplementation. Kick off with AI-driven accounts payable automation, which streamlines invoice processing and minimizes errors for quicker closures. Integrate procurement functionalities to manage unauthorized spending before it occurs. Finally, utilize expense tracking and spend analysis to bridge any remaining gaps. All these features operate on a unified platform, making enhancements a matter of configuration rather than a fresh implementation. When the entire procure-to-pay process is centralized on a single platform, it leads to a unified approval system, a cohesive policy framework, a consistent audit trail from requisition through to payment, and enhanced visibility and control over all expenditures. This eliminates disjointed systems, redundant data entry, and unnoticed gaps. The mobile application facilitates efficient processes and enables spending oversight from any location. Achieve comprehensive spend management through procure-to-pay automation, with integrations available for ERP and accounting systems such as Sage, Microsoft Dynamics, NetSuite, QuickBooks, and Xero.
Expense Report Software
Fraxion's expense management solution streamlines the process of managing business expenses for mid-sized enterprises. Employees can effortlessly document expenses in real-time by capturing receipts, submitting claims, and monitoring their approval status from any device. Approvers can assess requests against current budgets and authorize them on-the-go using mobile devices. Once claims are approved and align with company policies, reimbursements are expedited. This robust platform offers a variety of essential features, including automated expense reporting, hierarchical approval processes, receipt scanning, tracking of per diem and mileage, management of billable expenses, pre-approval for travel, enforcement of company policies, requests for cash advances, reconciliation processes, and comprehensive audit trails. Fraxion's expense management tool is integrated into its comprehensive procure-to-pay platform, providing finance teams with consolidated insights and oversight across purchasing, accounts payable, and expenses, along with detailed spend analysis and reporting. The platform complies with SOC 2 standards and supports integrations with ERP and accounting systems. It is accessible on both iOS and Android devices.