SUCCESS STORY | PROPERTY MANAGEMENT

Cube Workspace unlocks scalable efficiency and spend transparency with Fraxion

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Cube Workspace

Vector  Industry: Property Management
Group 21066  Headquarters: South Africa
user-plus  Employees:  100+

Company overview

Office space. Overheads. Conference rooms. Office equipment. Ah, the cost of doing business. For many professionals, startups, and entrepreneurs, the cost of doing business often stops them from, well, doing business....

Company overview

Office space. Overheads. Conference rooms. Office equipment. Ah, the cost of doing business. For many professionals, startups, and entrepreneurs, the cost of doing business often stops them from, well, doing business. Fortunately, there’s Cube Workspace.

With six workspaces nationally, located in Cape Town and Johannesburg, Cube offers flexible, ready-made, serviced office space for everyone from freelancers to established companies. Solo designers can have a physical address and answering service to augment their virtual office. Small legal firms can have two offices and a conference room. Makers can network with like-minded peers in co-spaces. Tech companies can grow from small spaces to larger ones.

 

Before Fraxion

Before implementing Fraxion, Cube Workspace struggled with a slow, manual purchasing process that relied heavily on printed purchase orders, physical signatures, and repeated document scans. Employees were required to compile packs of documents and manually submit them for approvals, which often involved multiple rounds of email or physical hand-offs. The lengthy process frustrated staff, leading many to bypass approval workflows entirely. This lack of control resulted in unapproved expenses surfacing after invoices arrived, forcing Cube to pay unexpected costs. Finance Director Sean Friedrich described the system as inefficient and prone to errors, creating significant operational bottlenecks and reducing accountability.

CHALLENGES

Cube Workspace struggled with:

  • Manual, paper-based processes: The procurement process required physical purchase orders and manual approvals, creating inefficiencies and delays.

  • Bypassing approval workflows: Due to the slow approval system, employees often bypassed approvals, resulting in unapproved expenses that finance was forced to pay.

  • Inconsistent expense control: Lack of oversight led to unexpected expenses and insufficient control over spending.

  • Time-consuming documentation: The reliance on paper and scanning made it difficult to maintain transparent records, slowing down financial processes and complicating audits.

  • Scalability concerns: Processing high volumes of invoices manually strained the finance team and raised concerns about the ability to scale without hiring additional staff.
SOLUTIONS

With Fraxion, Cube Workspace gained:

  • Automated approval workflows: Fraxion’s configurable workflows ensured that every expense went through a structured approval process, preventing unapproved spending.

  • Full audit trails: The system created a complete audit trail, providing transparent records for accountability and easy access during audits.

  • Centralized digital documentation: Fraxion replaced manual paperwork with digital records, making documentation accessible and organized for faster processing.

  • Systematic spend control: The platform’s spending controls allowed Cube Workspace to set approval limits and systematically manage expenses.

  • Scalable invoice processing: By automating invoice management, Fraxion supported high transaction volumes, reducing the need for additional staff and improving efficiency.
cube quote
KEY FEATURES & TAKEAWAYS

With Fraxion, Cube Workspace achieved:

Improved operational efficiency: The automation of approval workflows and invoice management significantly reduced the manual effort required to process purchase orders and invoices, resulting in faster and more efficient financial operations.

Cost control and accountability: By eliminating the risk of unapproved spending, Cube gained better control over its expenses. The systematic approval process ensured that all purchases were properly authorized, preventing costly mistakes and unauthorized expenses.

Enhanced audit readiness: Fraxion’s audit trails and transparent records streamlined the audit process, allowing Cube to quickly access and organize the necessary documentation for auditors, reducing time spent on manual record-keeping.

Scalability without additional headcount: With the ability to handle up to a thousand invoices a month, Fraxion allowed Cube to scale its operations without the need to hire additional staff, increasing productivity and reducing overhead costs.

Increased financial visibility: The comprehensive reporting and tracking features provided Cube’s finance team with real-time insights into spending, enabling better financial decision-making and ensuring full compliance with internal controls.

Peace of mind: With Fraxion managing the procurement process and ensuring proper approval for every expense, Cube’s finance director, Sean Friedrich, found greater peace of mind, knowing that the financial workflows were under control and that issues could be quickly identified and resolved.

               

The Hotchkiss School _ Stacked

SUCCESS STORY

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Transparency and peace of mind

"Fraxion gives me more transparency, so I can see everything I need to see. I don’t have to check up on people. So it definitely gives me a lot more time to do other things that I should be doing and allows me a level of peace of mind that the system is doing what it needs to do. I don’t have to rely on people to be amazing because the system is.”


Sean Friedrich
Finance Director

 

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