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Procure-to-pay software for healthcare

Compliant, controlled spending for healthcare, life sciences, and biotech

Purpose-built for highly regulated industries. Centralize purchasing, approvals, and accounts payable across every lab and site, with project, grant, fund, and budget tracking for every transaction.

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Purchase request with cost allocation and approval group for lab supplies

Companies we work with

Fate Therapeutics
Healthcare client
Healthcare client
Healthcare client
Healthcare client
Healthcare client
Bay Area client
SIGA Technologies
Healthcare client
Soley Therapeutics
BioFire Diagnostics
aTyr Pharma
Healthcare finance professional approving purchase requests from a mobile device

HEALTHCARE & LIFE SCIENCES

From compliance risk to financial control

Healthcare, life sciences, and biotech organizations operate under intense regulatory scrutiny, complex approval requirements, and constant pressure to reduce operational costs without compromising compliance, research integrity, or patient outcomes.

Yet most finance teams are still managing procurement and accounts payable manually across disconnected tools and systems, paper-based approvals, and fragmented vendor records. The results are compliance gaps, audit risk, maverick spending, and AP backlogs that slow the entire organization down.

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HEALTHCARE & LIFE SCIENCES

Why healthcare organizations choose Fraxion

Managing purchasing and AP across multiple laboratories, clinics, and facilities makes budget control complex and compliance risk high. Fraxion centralizes processes and records in one platform, giving finance teams complete spend visibility, tighter cost allocation, and full transparency across every location, project, and grant.

 

50–80% faster approval cycles

Approval cycle times drop by 50–80%, so labs get critical supplies and equipment without delays.

Multi-budget tracking

Track and analyze spend across multiple budgets, projects, and grants in real time.

Audit-ready grant records

Maintain complete, audit-ready grant spending records for reporting, compliance, and funding accountability.

Approved vendors

Direct purchasing to approved vendors via PunchOut integrations and internal catalogs.

Free up hours

Free up hours previously lost to manual processes, giving teams more time for research and patient care.

With Fraxion, we just enter the info in the system, even from remote locations. Everything goes through the whole approval process automatically. Most orders only take one to two minutes to complete. What’s more, Fraxion interfaces seamlessly with our finance system. And keeps the full approval flow, so it’s easy for auditors to see that everything’s correct.
We definitely get a good return on investment, that’s for sure.

Jason Schnieder

Associate Director Operations, aTyr Pharma

HEALTHCARE & LIFE SCIENCES

How Fraxion supports healthcare and life sciences finance operations

Purchasing & vendor compliance

Faster purchasing. Tighter vendor control. Zero policy gaps.

Centralize purchasing and vendor compliance across every lab, site, and facility in one platform, giving finance teams complete visibility and control over every purchase request, from submission to receipt. Manage everything from everyday lab consumables and facility supplies to high-value capital equipment and new lab provisioning, with every transaction policy-enforced, routed through the right approvals, and fully auditable before a single dollar is spent.

  • Request and approve from anywhere: web, mobile, or Microsoft Teams

  • Eliminate maverick spending and unauthorized purchases with automated policy and vendor approval enforcement

  • Never miss an approval with configurable, multi-level workflows that route every request to the right approver automatically

  • Control high-value CapEx purchasing, implement quoting policies, and consolidate orders to drive savings

  • Stay audit-ready with complete purchasing records and digital logs

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Fraxion purchase request with multi-level approval routing and policy enforcement
PunchOut vendor catalog purchasing inside Fraxion
PunchOut & vendor catalogs

Buy smarter. At the right price.

Healthcare and life sciences organizations purchase from a complex mix of specialized medical, laboratory, and biotech suppliers. Fraxion’s PunchOut catalog integrations bring your approved suppliers, including McKesson, Thermo Fisher, Sigma-Aldrich, ZAGENO, and others, directly into your procurement workflow, ensuring every purchase is made at pre-negotiated prices, from approved vendors, with full policy compliance and auditability built in.

  • Shop directly from approved, integrated healthcare and biotech vendor catalogs, or host your own internal catalogs

  • Guarantee pre-negotiated pricing on every purchase, eliminating off-contract buying and price discrepancies across every lab and facility

  • Validate every purchase against budgets and ensure policy compliance

  • Reduce time spent sourcing and ordering across multiple supplier sites

  • Automatically generate purchase orders from approved requests — no manual data entry, no delays

Learn more about PunchOut →

Healthcare PunchOut vendors

Learn more about our vendor catalogs →

Accounts payable

Process more invoices. Pay faster. Eliminate financial risk.

Manual AP processing is one of the biggest hidden costs in healthcare and life sciences finance, creating payment delays, invoice errors, and overpayment risk that compound across every lab, site, and facility. Fraxion’s AP automation eliminates the backlog, reduces financial risk, and gives finance teams the speed and accuracy to close the books faster.

  • Process invoices faster and cut AP cycle times by up to 80%, from 10–14 days to as little as 2–4 days

  • Free up AP team capacity by eliminating manual data entry with AI-powered invoice capture and data extraction

  • Protect the organization from financial risk by identifying and eliminating duplicate invoices and overpayments before they are processed

  • Improve invoice accuracy and cut error rates, reducing supplier disputes and reconciliation time

  • Capture discounts through faster payment cycles

  • Ensure only pre-approved, policy-compliant invoices are posted to your financial system, keeping your records accurate and audit-ready

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Fraxion accounts payable automation with invoice matching and exception flags
Fraxion Insights spend analytics dashboard across labs, projects, and grants
Spend analysis, grants & budget tracking

Spend visibility. Smarter decisions. Stronger grant compliance.

Without real-time spend visibility, healthcare and life sciences finance teams are making budget and procurement decisions in the dark, leaving cost-saving opportunities undiscovered, grant spending untracked, and audit preparation reactive rather than proactive. Fraxion’s embedded analytics platform, Insights, gives finance teams a single, real-time view of every dollar spent across every lab, site, project, and grant — turning purchasing data into actionable decisions.

  • Gain a single, real-time view of all organizational spend across every lab, site, project, and cost center — no more waiting for month-end reports

  • Track, manage, and report on spend across multiple grants, funds, budgets, and cost allocations in real time — maintaining audit-ready records for funding compliance, reporting requirements, and financial accountability

  • Make faster, more informed budget decisions with real-time visibility into committed spend across every department, vendor, and location

  • Identify where to cut costs, consolidate suppliers, and optimize purchasing and AP processes, before inefficiencies compound across multiple sites

  • Uncover hidden savings opportunities and process inefficiencies across the entire organization with embedded analytics

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aTyr Pharma case study
Case study

How aTyr Pharma reduced purchasing cycle times with complete auditability

aTyr Pharma replaced slow, paper-based purchasing with Fraxion’s automated procurement system, eliminating approval delays and improving visibility. With direct ERP integration and real-time tracking, they gained complete audit readiness, reduced processing time for specialized orders, and enhanced compliance.

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Every day without automated procurement and AP is a compliance risk and a cost you don’t need to carry.

Whether you need to automate procurement, AP, or both, Fraxion gives healthcare, life sciences, and biotech finance teams the compliance, visibility, and control they need, with the flexibility to scale across every lab, site, and facility at your own pace.

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Fraxion procurement and AP automation dashboard for healthcare finance teams

FAQs

Frequently asked questions about Fraxion’s procurement and AP software for healthcare and life sciences. Need more information?

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