SUCCESS STORY | NON-PROFIT

BHF minimizes risk and advances
governance and compliance with Fraxion

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Board of Healthcare Funders

Vector  Industry: Non-profit 
Group 21066  Headquarters: South Africa

Company overview

Serving medical scheme members is the motto, which guides the way the Board of Healthcare Funders fulfils its function of a representative body to the healthcare funding industry. BHF members include: Medical schemes,...

Company overview

Serving medical scheme members is the motto, which guides the way the Board of Healthcare Funders fulfils its function of a representative body to the healthcare funding industry. BHF members include: Medical schemes, administrators and managed care organizations throughout the Southern African region, with membership in South Africa, Lesotho, Zimbabwe, Namibia, Botswana, Mozambique, Malawi and Swaziland.

Membership has recently been extended to other Healthcare Funders in Southern Africa and Africa. The core aim is to ensure the sustainability of the healthcare sector by enabling medical schemes, managed care organizations and administrators to provide accessible, affordable, quality healthcare to their medical scheme members. As the industry representative body, the organization relies on the membership of all medical schemes to ensure that it can lobby government and other organizations effectively and to influence policy where necessary on behalf of the entire industry.

 

Before Fraxion

BHF was experiencing inefficiencies due to cumbersome approval systems that only limited employees had access to. Furthermore, staff could not access the systems from smart devices while out of the office. Manual expense claims and approval processes for travel requests and physical invoice matching delayed travel bookings and accounts processing. Supplier diversity statuses could not be easily monitored for reporting purposes. BHF realized that a solution was required that would provide more effective controls to facilitate these processes and develop a culture of compliance across the organization.

CHALLENGES

BHF struggled with:

  • Manual, paper-based processes: Reliance on physical documents led to delays, inefficiencies, and increased risk across operations.

  • Cumbersome approval processes: Approval workflows were slow and restrictive, with limited accessibility, making it difficult for employees to manage approvals, especially when out of the office.

  • Manual expense claims and invoice matching: Travel requests and expense claims were processed manually, causing delays in approvals, travel bookings, and payment processing.

  • Limited mobility and system access: Staff couldn’t access approval systems from smart devices, leading to inefficiencies when working remotely or in the field.

  • Difficulty in monitoring supplier diversity: Tracking supplier diversity statuses, such as B-BBEE compliance, was challenging, complicating reporting and compliance efforts.

  • Lack of control: Without an established process, enforcing effective controls proved challenging, which often led to non-compliance with organizational policies

SOLUTIONS

With Fraxion, BHF has gained:

  • Simplicity and wide user adoption: Fraxion’s intuitive design makes it easy for staff to use, leading to quick adoption and consistent process compliance.
  • Automated approval workflows: Fraxion’s automated approval routing enabled requests to be systematically processed, reducing delays and ensuring compliance with BHF’s control measures.
  • Mobile accessibility: The cloud-based platform allowed staff to access the system from any smart device, improving flexibility for employees working remotely or while traveling.
  • Automated accounts payable and invoice matching: Fraxion streamlined the invoice matching process, linking invoices to orders and requisitions to prevent duplicate payments and ensure accurate processing.
  • Supplier compliance tracking: Fraxion facilitated BHF’s tracking of B-BBEE compliance and supplier diversity statuses, making it easier to meet reporting requirements and align with organizational goals.
  • Policy compliance and reduced financial risk: Systematic enforcement of approval workflows ensures that all spend aligns with company policy, with alerts highlighting irregularities in real time for quick resolution.
  • Consistent requisition handling: Regardless of urgency, all requests must follow the same process, ensuring fairness, accountability, and clear audit trails for every transaction.
RESULTS

The key features driving compliance and risk management for BHF

Automated approval workflows

All spend requests are systematically routed for approval before any costs are incurred. This enforces organizational policies and ensures that no unapproved purchases take place, regardless of urgency.

Policy-enforced workflow rules

Spend requests must comply with predefined rules and workflows aligned to internal policies. This ensures that every request is processed according to company standards, reducing the risk of unauthorized or non-compliant transactions.

Real-time alert notifications

Alerts are triggered for any irregularities or contraventions, allowing for immediate intervention and risk mitigation. This proactive feature ensures that issues are flagged before they escalate.

Invoice matching

Invoices are matched directly to purchase orders and requisitions, preventing duplicate payments and overpayments. This feature helps maintain clean financial records and reduces the risk of fraud or error.

Centralized, cloud-based access

Mobile-friendly, cloud-based access allows stakeholders to review, approve, or reject requests in real time, even when out of the office. This supports timely approvals and reduces risks and delays.

Compliance-ready supplier diversity tracking

Supplier diversity status and B-BBEE requirements are tracked within the platform, simplifying reporting and ensuring ongoing compliance with regulatory and organizational standards.

The Hotchkiss School _ Stacked

SUCCESS STORY

Want to read the full success story?

 

 

 

quote

“A big thank you to the Professional Services and Support teams – nothing is too much trouble and
it appears that their patience is endless.”

Elsabe Gurovich
Admin Manager

 

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