SPEND MANAGEMENT

Procurement software for proactive spend management

With Fraxion's procurement software, your business spend is always tracked, approved, policy compliant, and in budget.

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SOLUTIONS

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.

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Spend management simplified

Icon tick aqua Buy

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.

Icon tick aqua Claim

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.

Icon tick aqua Invoice

Speed up AP processes, invoice matching and approvals. Streamline 2 or 3-way matching and invoice approval to eliminate overpayments and duplicate invoices.

Icon tick aqua Travel

Streamline travel processes: From request creation to the processing of invoices, travel itineraries, travel expenses incurred and the processing of invoices against travel costs.

Icon tick aqua Analyze

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.

Icon tick aqua Optimize

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

Spend management

Procurement

Procure-to-pay


Fraxion Procurement Software
  • “

    We get a good return on investment

    “I’m a big fan of Fraxion, it’s really easy to use. With Fraxion, we enter the info in the system, even from remote locations. Everything goes through the approval process automatically. Most orders only take one to two minutes to complete.

    What’s more, Fraxion interfaces seamlessly with our finance system and maintains the full approval flow, so it’s easy for auditors to see that everything is correct. We get a good return on investment, that’s for sure.”

    Associate Director of Operations, Biotechnology
    Jason S.

  • “

    Excellent procurement software tool

    “Assists you in achieving full procurement compliance.”

    Group Procurement Manager
    Rene A.

    G2 rating-1
  • “

    Highly recommended for simplicity, approval management and faster processes

    “We're able to keep our costs down and have the peace of mind that requests are getting the right approvals. Auditing has been smoother since implementing Fraxion. We get great support from the consultants as well. We're really happy with the system and get a good return on investment.”

    Information Technology
    Kelly C.

    capterra rating
  • “

    Fraxion curtails unauthorized spend

    “All items need to be fully approved on Fraxion in order for the purchase order to be generated. We will only make payment if there is a PO for the relevant supplier invoice. This has reduced the amount of unauthorized spend in the business.”

    Group Financial Accountant
    Lauren R.

    G2 rating-1
  • “

    Great tool for everyday spend management

    “Our greatest feature has to be PunchOut. When we went live with it, everyone really started to enjoy it.”

    Purchasing Agent, Education Management
    Robert S.

    capterra rating

FAQ

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.