Fraxion is the go-to spend management platform for intelligent procurement in the small-to-medium marketplace.
A requisition and procurement system at the core, with sourcing, expense, T&E, AP/invoice automation, spend analytics and contracting functionality – Fraxion is the only cloud suite for end-to-end spend management.
Trusted by thousands worldwide – and top rated by Gartner – Fraxion simplifies spend management through ease and access that ensures your business spend is always under control. Fraxion’s solutions are actively managing over $10 billion of spend across the globe – over 1000 organizations with more than 200,000 users worldwide trust Fraxion.
As of 2017, there were 4,289 colleges or universities in the U.S. Approximately 40 percent of those institutions are private. Because they don’t receive funding from state legislatures, private colleges must rely more heavily on student tuition and donations to cover operating costs. Typically that results in the need for tighter budgets and close monitoring of spend.
There are 29 different types of nonprofit organizations, but one fact holds true for all, they are operating on limited budgets. Whether relying on donations from individuals in the community or frequently seeking government funding, it’s not easy for a nonprofit to fund their numerous programs and services. Most non-profits are incredibly aware of their spend including any overhead costs or other expenses going out the door, and work to eliminate costs wherever they can — which is understandable when you consider that 66.3 percent of nonprofits have a budget of less than $1 million.
With spend management making its way to the cloud, budgetary mishaps and unorganized paper-based processes can be a thing of the past.
While 34 percent of companies have already undergone digital transformation, there are numerous others still using outdated processes of the past. In the financial services sector, this is often paper or spreadsheet-based spend management.
In today’s modern business landscape, many companies have multiple locations and remote employees. This makes any paper-based or on-premise process difficult to manage and properly execute, which can cause inefficiencies in nearly every department. In the area of expense management, errors such as misphrased documents and lost invoices are more likely to occur with paper-based processes. For this reason, many organizations have recognized the need to shift their spend-management operations to the cloud.
23 daily habits of successful people you can start today. #14 "Whether it be an injury or a product failure, you have to continually practice and always come back to the plan, regardless of the deviations that get in your way."
— Stanton Jandrell, cofounder and CEO of Fraxion
One thing which separates high achievers from regular people: intention. Meaning, if you get up every day and just coast wherever events and situations take you, you're going to end up somewhere other than the ideal place. To reach your utmost potential, you need to steer your own path via daily habits which prime you for success. Here are the things nearly two dozen executives say help them get ahead in business and life.
Business expense management startup Fraxion added three new executives to its board of directors:
Fraxion, the only cloud-based procure-to-pay solution for efficient business expense management in the mid-market, today announced the addition of Matt Diamond to its board of directors. Diamond is an experienced entrepreneur, investor and media executive who boasts more than twenty years of experience in various industries such as media, retail and non-profit.
Fraxion, the only cloud-based procure-to-pay solution for efficient business expense management in the mid-market, today announced the addition of seasoned spend management executive Rick Gustafson to its board of directors. Gustafson is an experienced executive who boasts more than twenty-five years of experience in the spend management and technology space.
Hendrikse most recently served as CEO of virtual business phone system provider MightyCall, running the accelerated growth strategy. Prior to MightyCall, Stijn held CMO and CRO positions at Acumatica, a leading complete cloud ERP solution for business management. Hendrikse also acted as a key player in Microsoft's transformation from Office 2010 into the fully functional SaaS product, Office 365, in his role as a marketing leader at the company.
It’s no secret that non-profits are typically operating on limited budgets since they frequently rely on donors to fund their various programs and services. In fact, 66.3 percent of non-profits have a budget of less than $1 million. For this reason alone, many non-profit businesses are cognizant of their spend and try to eliminate as many overhead costs as possible to ensure that a high percentage of donations are put toward core programs and high demand services. This is where effective spend management software comes into play.
The various inefficiencies within a paper-based model of expense management can result in errors such as lost invoices or a misphrasing on documents. For these reasons and many more, multiple businesses have begun to shift their spend management operations to the cloud.
Stanton Jandrell is the CEO and cofounder of Fraxion, a cloud-based procure-to-pay solution for easy business spend management. Beyond his role as the CEO, Stanton frequently competes in ultra-marathons and has logged over 650 miles on foot during the 50 mile or more competitions.
Tech Moves covers notable hires, promotions and personnel changes in the Pacific NW tech community.
Stanton Jandrell, co-founder and CEO of business spend management company Fraxion, is relocating to Seattle to head up Fraxion’s new U.S headquarters office. The company on Tuesday announced its merger with eRequester and subsequent North America launch.
Picture this: A business has locations in Chicago, Seattle, and San Francisco, and is utilising traditional, paper-based processes for their procurement and expense management. How exactly would that work? This process is inefficient and doesn’t allow for flexibility or a comprehensive view into expense control. What happens if an invoice gets lost in a desk or there is a slight misphrasing? This is why many organisations are moving various aspects of their operations to the cloud – one vital area being spend management.
Seattle-based Fraxion, a cloud-based procure-to-pay solution for business spend management, will launch today in North America. This comes after its merger with U.S.-based e-procurement software suite company eRequester.
Business-to-business (B2B) transactions remain full of friction. However, in the procure-to-pay process, some of the biggest challenges occur before any transaction is initiated.
For the middle market, a high volume of supplier spend introduces the need for a sophisticated spend management strategy that can ensure transactions comply with internal rules, and that companies obtain the right price, on the right products, with the right vendors. Despite these enterprise-level needs, though, the middle market often lacks enterprise-level resources to invest in such tools.
Fraxion, a cloud-based procure-to-pay solution for easy business spend management, today launches in North America following its merger with eRequester, a US based e-procurement software suite leader. This merger provides an enterprise-grade, native cloud spend enablement solution to the underserved mid-market.
US-headquartered Fraxion, a cloud-based procure-to-pay solution with an innovation hub in Cape Town, South Africa, has launched into the North American market following a merger with eRequester, an established US e-procurement software suite.
According to Fraxion, the merger provides "an enterprise-grade, native cloud spend enablement solution to the underserved mid-market."