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Procure-to-pay software for financial services

Audit-ready spending across every office and entity

Procurement and AP automation for financial services, giving finance and compliance teams across insurance, wealth and asset management, banking, and payments companies real-time spend control, segregation of duties, and a continuous audit trail across every regulated entity.

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Fraxion purchase request dashboard for a financial services team

Trusted by mid-market finance teams

CIB
Medshield Medical Scheme
ICBL
Mukuru
Total Health Care
Equitable Bank
Financial services professional reviewing spend approvals on a laptop

Built for financial services

Why financial services teams choose Fraxion

Financial services firms operate under close regulatory scrutiny across multiple entities, branches, and jurisdictions, each with its own approval thresholds and reporting obligations.

Fraxion centralizes purchasing, AP, and spend control with the audit trail and segregation of duties your control framework requires.

It’s saving so much time and making things so much easier and assists you in achieving full procurement compliance. PwC auditors were amazed by the mature procure-to-pay process. There were no comebacks when we were audited externally.

Rene A.

Group Procurement Manager, Mukuru

Capabilities

How Fraxion supports financial services finance teams

Fraxion purchase request with approval routing across branches
Purchasing and spend control

Controlled purchasing across every branch and entity.

Give teams across branches, offices, and regulated entities a fast, compliant way to request purchases, while finance enforces approval thresholds and policy at every step.

  • Submit and approve purchases from any device, on web, mobile, or Microsoft Teams

  • Apply approval levels, spending thresholds and escalation per entity, branch, or department

  • Enforce purchasing policy and approved-vendor rules automatically

  • Capture every request, approval, and change in a complete record

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Compliance and audit readiness

The controls and audit trail your framework requires.

Build segregation of duties, role based access, vendor onboarding and approval, and a continuous audit trail into everyday operations, so the evidence your auditors and stakeholders expect is controlled and captured as work happens.

  • Continuous audit trail across every purchase, expense, approval, and invoice

  • Segregation of duties enforced within approval workflows

  • A formal vendor approval process before spend is authorized

  • Documented, exportable records for internal audit and reviewer requests

  • Strengthen fraud prevention with internal controls, approval hierarchies, and end-to-end transaction visibility

  • Runs on SOC 2 compliant, independently audited infrastructure

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Fraxion audit trail and approval history for a purchase request
Fraxion AP automation invoice matching with exception flags
Accounts payable

Fewer errors. Faster close. Complete AP control.

Free AP teams from manual, multi-entity invoice processing and give finance the real-time visibility, accuracy, and audit trail to close faster, stay compliant, and respond to audits with confidence.

  • Process invoices up to 5x faster and cut AP cycle times by up to 80%, eliminating manual data entry with AI-powered invoice capture and data extraction

  • Match invoices against POs and receipts, routing exceptions before they become payment errors

  • Exceptions that need judgment get flagged; duplicates and overpayment risks get caught before they reach the payment run

  • Allocate invoice costs by entity, department, or project automatically

  • Keep records audit-ready; only approved, policy-compliant invoices post to your financial system, when integrated

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Spend visibility and analytics

Spend visibility across every entity and category.

Give finance leaders a single view of spend across entities and categories, so you can consolidate vendors, control discretionary spend, and report with confidence.

  • See spend across every regulated entity and office in real time

  • See committed spend, approved but not yet invoiced — alongside actuals, so budget forecasts reflect what’s really been authorized, not just what’s been paid

  • Track regulatory, legal, audit, IT, and professional-services spend by category

  • Allocate spend to specific funds, mandates, or client accounts where relevant

  • Track overhead versus billable spend

  • Allocate consultant and advisory spend to the project level

  • Consolidate vendors and uncover savings across the organization

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Fraxion spend analytics benchmarking my organization versus community summary

See how Fraxion puts financial services teams in control

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FAQs

Audit-ready spend control across every regulated entity

See why financial services teams trust Fraxion to control spend and stay audit-ready. Get in touch to arrange a demo, customized to your organization’s needs.

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Fraxion spend dashboard for financial services