Name: Fraxion
Brand: Fraxion
Rating: 4.4 (193 reviews)

Education finance leader reviewing request volume and approval-time benchmarks

From reactive to proactive

From reactive budget management to proactive spend control

Finance and administration teams in private schools, colleges, and universities manage tight budgets, restricted grants, endowments, and multiple funding sources across departments and campuses, often without a dedicated procurement team and with legacy processes that are slow, costly, and difficult to audit.

Without real-time purchasing visibility, departments spend freely, grant and endowment allocations go untracked, and budget overruns are only discovered after the fact.

Easy purchasing from any device, with budget control built in

Faculty and staff submit and approve from the web, mobile, or Microsoft Teams, with real-time budget visibility at every approval point.

Track every dollar

Across projects, facilities, IT, marketing, and campus operations: know exactly what’s been spent and what’s left across every department, campus project, renovation, and enrollment campaign.

Protect grants, endowments, and restricted funds

With real-time visibility and complete audit trails across every funding source, giving boards, regulators, and funders the transparency they require.

Automate AP

Eliminate manual invoice processing: reduce errors, prevent duplicate payments, capture early payment discounts, and close the books faster without adding headcount.

Purchasing and budget control

Fast, simple purchasing for every faculty and staff member

Give faculty and staff a fast, intuitive way to purchase and approve from any device, replacing slow, paper-based processes with automated workflows that reduce administrative burden and free up time for what matters most: education.

Submit purchase requests from the web, mobile app, or Microsoft Teams, giving faculty and staff a fast, familiar way to purchase from any location
See real-time budget impact at every approval point, helping finance teams stay on top of spend before it’s committed
Manage travel and expense claims for educational tours, field trips, and campus projects in the same workflow
Configurable, multi-level approval workflows route every request to the right approver automatically
Generate purchase orders from approved requests and email them to vendors within seconds, with no manual processing
Confirm goods received electronically against open POs from the mobile app, on any campus or location

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PunchOut and PunchIn

Less complexity, more time and productivity

Give faculty and staff direct access to approved supplier catalogs at pre-negotiated prices, so they can purchase what they need quickly and confidently, while Fraxion routes requisitions, enforces policy compliance, and informs approvals with budget impact reviews.

Shop directly from approved supplier eCommerce sites without leaving Fraxion by using PunchOut integrations to Amazon Business, Staples, Lakeshore, Kaplan, Office Depot, and more
Give faculty and staff a familiar online shopping experience from approved vendors at pre-negotiated prices
Direct all purchasing to approved vendors to capture pre-negotiated rates and volume discounts

Learn more about PunchOut →Learn more about PunchIn →

Spend analysis and reporting

The reports boards, auditors, and funders need, without the manual effort

Track spending across every budget, project, grant, endowment, and fund with the reports boards, auditors, and funders require, without rebuilding data each time.

Easily report on spend by budget, project, fund, or grant
Analyze spending patterns to pinpoint cost-saving opportunities and optimize resource allocation
Make informed decisions and ensure budgets are optimized, maintained, and utilizing financial resources effectively
Maintain clear audit trails and digital records for all procurement activities to ensure transparency and accountability

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AP automation

Faster invoice processing. Fewer errors.

Free your AP team from manual invoice processing, automating intake, extraction, and approvals so invoices are processed faster, costs are allocated accurately, and the books close on time without adding headcount.

Capture and process invoices instantly, via upload, email, or drag and drop
Eliminate manual data entry: AI-powered extraction captures line-item data from multi-page and handwritten invoices with 95%+ accuracy
Simplify 2 and 3-way matching by automatically verifying invoices against POs and receipts before payment
Keep AP compliant by using automated approval workflows with policy checks built into every step
Protect against overpayment with exceptions, duplicates, and discrepancies identified and flagged automatically
Batch approved invoices for streamlined, efficient payment processing
Capture discounts and maintain healthy vendor relations by paying early or on time

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Case study

How The Hotchkiss School replaced manual purchasing and standardized policies across departments

The Hotchkiss School replaced slow, manual purchasing with Fraxion’s automated system, gaining full transparency, compliance, and significant cost savings. PunchOut catalogs and a configured approval matrix let the school standardize policy adherence across every department.

Read the full case study →

We don't have a procurement department in our school. How will that impact implementation, onboarding, and best practices?

In-house procurement skills are not required. Fraxion is rapidly deployed, and all users can be up and running with minimal training.

We work with you to configure charts of accounts, budgets, business rules, and purchasing policies. The system provides the internal controls and automated workflows to achieve spend control, efficiency, and best procurement practices.

Can we manage IT procurement processes in Fraxion?

Yes, Fraxion enables easy standardization of IT procurement processes across locations with centralized control. Submitting purchase or capex requisitions, quoting steps, and multi-level approvals can be configured to manage risk.

You can pre-approve purchase requests for your forecasted IT equipment needs at the beginning of the year, subject to approval structures, supplier authorization, policy, and budget compliance. Education faculty and staff can create purchase orders against that approved request for the volumes they need, as requirements arise throughout the year.

Tracking costs to assets is also possible and useful in determining when it’s more cost-effective to replace than to repair equipment.

Can we track expenditure against projects and budgets (e.g., new sporting facilities, campus renovations, etc.)?

Simplify budget and spend management in education

Education providers we work with

From reactive budget management to proactive spend control

Why private schools, colleges, and universities choose Fraxion

Easy purchasing from any device, with budget control built in

Track every dollar

Protect grants, endowments, and restricted funds

Automate AP

How Fraxion supports finance teams in education

Fast, simple purchasing for every faculty and staff member

Less complexity, more time and productivity

The reports boards, auditors, and funders need, without the manual effort

Faster invoice processing. Fewer errors.

How The Hotchkiss School replaced manual purchasing and standardized policies across departments

More control for finance. Less admin for faculty and staff.

FAQs

Procure-to-pay

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