PURCHASING WORKFLOW

Streamline approval workflows

Let your approval structures do the work

 

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Approval routing flexibility lets you tailor your organization's workflow

Ask anyone with a manual purchasing process what the primary bottleneck is and you’ll usually hear – the approval workflow. Manual processes are not scalable – the more requisitions you have, the more time you’ll devote to managing approval workflows. Manual process challenges include:

  • Lost requisitions 
  • Overdue approvals and backlogs 
  • Out of office approver delays 
  • No visibility into current status
  • Unauthorized spend

 

Manual approval processes are usually error-prone, delayed and come with a hefty 30% increase in purchasing cycle time over peers who utilize mobile spend management solutions. 

Take the guesswork out of approval workflows with automation. No more paper-based requisitions, tedious email threads or outdated worksheets. Instead, let the software route approvals for you. The moment users hit submit, requisitions are routed according to the exception logic configured for your organization based on numerous fields. 

The best part, you’ll have access to a complete audit trail of the entire process. If any approver along the chain requests documentation, more information, requires a change or rejects a purchase – it's all captured in the audit trail. This gives your organization real-time visibility into your entire organization’s spend and a much-needed efficiency boost.

Streamline purchasing processes and manage risk with escalating approval workflows that ensure that every request is authorized and within budget before any costs are incurred:

 

Claim  Remove approval bottlenecks

Let automated approval routing do the work for you and remove common delays caused by manual systems

Efficiency  Tailored routing rules

Tailor the platform to improve efficiency and utilize routing logic so that requisitions are sent to the appropriate approver, based on value, cost centers, projects or spend categories

Visibility  Real-time visibility

Fraxion routes your requisitions for approval and captures data at every step, giving you up-to-the-minute reporting, so you can manage spend in real-time. Access budgets and gauge the impact of spend at decision points

Suppliers  Scalability

Empower staff as your organization grows, without losing financial control

 

 

 

Procure-to-pay workflow

 

Workflow2

 

                Configure approval thresholds 

 

 

Approval-1

 

                                 Audit trails

 "Fraxion requires that all operational/club level management follow the same procedure with regards to procurement, which creates uniform workflows, documentation and processes. This eases up the workload in the finance department due to the centralization of all requests and purchase orders. 

Audit trails, compulsory approval workflows and a vast record of historic procurement documentation allows for missing transactions and other queries related to procurement to be resolved without difficulty. 

Fraxion also scales well as we are continuously expanding as a company. Ease of use and simplicity of the system enables new users to phase into the workflow effortlessly.”

Theuns S, Group Financial Manager Zone Fitness

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