Procurement software for proactive spend management
With Fraxion's procurement software, your business spend is always tracked, approved, policy compliant, and in budget.
Gain procurement process efficiency, spend visibility, and control
Fraxion’s cloud-based procurement software provides requisition-to-purchase order automation, and expense and approval management with advanced reporting and spend analytics. Gain complete visibility, spend control, budget insight, and policy compliance in one mobile, easy to use solution.
Spend management simplified
Automate and simplify purchasing processes from any location with our procurement software. Fraxion manages purchase requisitions, quoting processes, approval workflows, purchase order generation, vendor PunchOut, and internal catalog procurement.
Streamline expense management - create and submit claims via the web or mobile app, snapshot and upload receipts, and ensure compliance with spending policies while simplifying and speeding up approval processes.
Speed up AP processes, invoice matching and approvals. Streamline 2 or 3-way matching and invoice approval to eliminate overpayments and duplicate invoices.
Streamline travel processes: From request creation to the processing of invoices, travel itineraries, travel expenses incurred and the processing of invoices against travel costs.
Use our procurement software to gain transactional spending insights and analyze spend by supplier, employee and budget. Gauge the impact of spend before it's incurred. Make informed data-driven decisions with Fraxion’s procurement tools with AI-driven analytics.
Using our procurement software, optimize your business processes and proactively manage your spend. Accelerate your approval workflows, achieve paperless efficiency and purchase at the lowest price. Time and cost savings will boost your bottom line.
Top-rated by users and leading in these categories
Understanding procurement software
What is procurement software?
Procurement software, often referred to as procurement management software, is a specialized digital platform that automates and streamlines the procurement process within an organization. Procurement management software ensures that business spending is tracked, approved, policy compliant, and within budget, supporting proactive spend management.
How does procurement software work?
Procurement software streamlines the purchasing process for organizations by automating various stages, including requisitioning, approval workflows, vendor management, purchase order generation, invoice processing, and analytics. It aims to enhance efficiency, reduce errors, ensure compliance, and provide transparency in procurement activities. By centralizing and automating these processes with procurement tools, organizations can save time, reduce costs, make more informed decisions, and maintain better control over their procurement activities and spending.
How to choose a procurement software?
Choosing the right procurement software involves several considerations:
- Scalability: Ensure the software can grow with your business.
- Ease of use: Look for intuitive software that users can adopt quickly and access via mobile phones.
- Integration: The software should offer integration capabilities with financial systems and eCommerce vendor catalogs.
- Features: Look for features that match your business requirements, from requisition-to-PO, PunchOut, Catalogs, and Analytics and Reporting.
- Support and training: Read software reviews to gauge customer satisfaction and consider solutions that require minimal training.
- Cost efficiency: Assess the return on investment, including time and cost savings that the software can deliver.
- Reviews: Evaluate user reviews and ratings online in procurement, purchasing, spend management, and procure-to-pay categories.
Book a demo with Fraxion: Get in touch with a product specialist to request a product demo, customized to your business needs.
Who uses procurement software?
Procurement software can be utilized company-wide across industries. Finance, purchasing, and procurement professionals leverage procurement software to automate procurement processes, manage policy and budget compliance, promote accountable spending, gain complete visibility and analytics to inform decision-making, improve efficiency and reduce operational costs.
How can we assist you?
Get in touch to discuss your procurement software requirements.