Marg Fraxion

Fraxion Description

Fraxion employs AI-powered automation to handle invoice intake, data extraction, and matching against purchase orders and receipts. This automation minimizes errors, accelerates invoice approvals, and ensures timely payments. Additionally, the platform's expense management features allow for efficient handling of per diems, cash advances, and travel requests, all accessible via a mobile app for on-the-go management. Fraxion's embedded spend analytics and reporting tools provide actionable insights into spending patterns, enabling organizations to make informed, strategic decisions that positively impact the bottom line. The platform also emphasizes security and compliance, offering audit trails and internal controls to mitigate risks and ensure adherence to company policies

Key Features & Specifications

• Purchase Requisitions: Simplifies the creation and submission of purchase requests with quick data entry, predictive coding, and the ability to attach supporting documents.
• Approval Workflows: Offers flexible, multi-level approval workflows with instant notifications, allowing for immediate approvals via the mobile app.
• Purchase Orders: Automates the generation of purchase orders from approved requests, including the ability to email POs directly to vendors and manage change orders efficiently.
• AP Automation: Utilizes AI for invoice capture, data extraction, and matching, streamlining the accounts payable process and reducing manual errors.
• Spend Analytics: Provides comprehensive spend visibility through embedded analytics and reporting, enabling data-driven decision-making.
• Expense Management: Manages expenses and travel requests efficiently, including per diems and cash advances, with mobile access for capturing receipts and submitting claims.
• Catalog Management: Integrates with vendor catalogs via PunchOut and PunchIn, simplifying procurement from approved suppliers and ensuring compliance with purchasing policies.
• Mobile Access: Ensures mobile flexibility, allowing users to manage purchasing, expenses, approvals, and receiving from any location.
• Integration Capabilities: Seamlessly integrates with various ERP and accounting systems, enhancing data flow and operational efficiency.

Key Features & Specifications

• Spend Management
• Purchasing
• Billing and Invoicing
• Purchase Order Management
• Inventory Optimization
• Inventory Forecasting
• Budgeting
• Purchase Order
• Purchase Requisition
• App Integrations
• Compliance Management
• Supplier and Purchase Order Management
• Audit Planning