Fraxion is a top rated purchasing software designed for automating procurement processes. We recommend Fraxion to mid market businesses looking for ways to improve spending and approvals. This software is useful across multiple industries and can integrate with several accounting solutions to cover your entire workflow.
However, larger organizations which have complex accounting needs to address might not be a good fit for Fraxion. And smaller companies with a lot of PunchOut partners may not be able to afford the costs.
Best for: Fraxion software targets the mid-market segment, particularly organizations with 10 to 150 users.
Fraxion is top-rated by users and trusted worldwide by small to medium-sized companies to proactively manage purchasing processes and operational spend. This solution is most frequently used by companies in finance, purchasing, and IT, though can be used in any industry.
Replace manual, paper, email, and spreadsheet-based processes with automated procurement efficiency. Achieve time and cost savings using Fraxion’s mobile app and easy to use solution for:
With Fraxion, each purchase and expense request is tracked, approved, policy compliant, and in budget.
Pros | Cons |
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Fraxion software is designed with mid-market businesses in mind, especially organizations which anticipate between 10 and 150 users. This solution is designed to grow, allowing small companies to get bigger with Fraxion functionality.
They serve a diverse range of industries, such as:
Usability - 9.7 | Has a modern and responsive interface; highly visual and customizable dashboard; lets users easily create requests and move them through the approval process. |
Support - 9.6 | Includes support with subscription; all support begins with email communication which may then lead to calls by phone or online; a consultant will be available for assistance for the first 30 days after implementation. |
Features - 9.5 | Straightforward purchase order management which covers the entire lifecycle of a purchase; reporting tools offer analysis of spending to inform process improvements. |
Security - 10 | Data can be imported and exported through an open API. |
Value - 9.0 | Subscription plans start at $17.50 per user per month; there is a 5 user minimum, implementation fees are on the high side compared to competitors. |
Performance - 9.3 | Functionality was fast and responsive; slight delays over Wi-Fi connection; no other slowness or performance issues. |
Scalability - 9.5 | Plans begin with 5 users and can expand to hundreds or even thousands of users; integrations with accounting software streamlines other workflows. |
Along with all the usual purchase order and approval tools, Fraxion offers unique analysis of purchasing performance. Users can see how their approvals process compares to other Fraxion customers (without specifics, of course). For instance, they can know that their turnaround on invoices is longer than other businesses. This knowledge can lead to changes and improvements in how invoicing tasks are done.
When employees are on the road or away from the office, getting reimbursement receipts can take time. Fraxion’s mobile app allows employees to take photos of receipts as they create them, allowing them to submit them for reimbursement approval instantly.
Fraxion integrates with several third-party accounting solutions to streamline financial operations. A few options include:
Other integrations beyond accounting include:
The Microsoft integration includes the Binary Stream extension.
The Fraxion experience might be improved with:
Plan | Pricing | Features |
Subscription | Request a quote | The base package requires 5 users and includes:
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In addition to the subscription, there are fees for deployment services, hosting, and technical support. With the core system, 1 PunchOut is included. Additional punchouts can be added for $60 per month each.
Nonprofits may be eligible for reduced pricing plans.
Here are some frequently asked questions about Fraxion:
Fraxion uses subscription pricing. Requiring a minimum of 5 users, the base plan starts at $17.50 per user per month.
Based on our experience with Fraxion, we would recommend this software to companies looking to automate their procurement processes. It’s also ideal for growing businesses, as it’s easy to add new users and expand into other departments.
Due to higher implementation costs, we would not recommend this software to companies with smaller budgets. However, the per user cost is significantly lower, making up some of the price difference. There’s also a $60 per month charge for all extra PunchOuts beyond the first, which is included in the regular subscription.
It has been a major move forward for us since deploying Fraxion in educating our staff that following the correct processes when requesting approval to purchase goods and services is how we manage risk and protect our organization. The way that each item is ‘locked’ in Fraxion until the required approval is given means everything that must happen is consecutive. Without this process then it becomes
We turned to Fraxion as a way to automate our purchasing process. Before we were filling out forms in triplicate, then had to get a number of signatures for approval. Now we’re just so much more efficient. Fraxion’s spend management platform automates procurement and expense processes. Spend limits can be set, approvals are expedited, and a complete audit trail is always digitally available for full transparency.
We primarily use Fraxion for purchase orders and approving expenses. It seamlessly integrated into our Microsoft Dynamics GP accounting system, which helps make our workflow a lot quicker. Overall, I’d say we’ve eliminated something like 90 percent of our paperwork"
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.
Before Fraxion, the purchase request, ordering and approval process was largely slow, bureaucratic, manual and paper-based. Fraxion has singularly improved transparency, eliminated 90% paperwork, cut approval times in half and summarily improved productivity in procurement. Fraxion has also allowed the continuation of work processes during the COVID-19 pandemic and has ultimately been a cornerstone to the Technology Support Services Digital Transformation Strategy.
Fraxion has streamlined our purchasing and procurement process tremendously. And it definitely has alleviated the need for our buyer to do so much manual work. We have better accountability in tracking approvals.
Fraxion is really easy to use. It’s kind of like when somebody picks up an iPhone, they can start using it immediately, it’s so intuitive. We definitely get a good return on investment. What’s more, Fraxion interfaces seamlessly with our Microsoft Dynamics GP finance system and keeps the full approval flow, so it’s easy for auditors to see that everything’s correct.
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.
We were able to start with the system with only 10 users and it has easily scaled with us to almost 400. It’s allowed us to save at least 4-5 jobs in purchasing.
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.
Very intuitive interface. Most users were able to pick up how to use it with minimal training. Previously, in MS Dynamics SL the interface was so difficult people simply stopped submitting purchase order requests. With Fraxion, we have nearly 100% compliance.
We were able to start with the system with only 10 users and it has easily scaled with us to almost 400. It’s allowed us to save at least 4-5 jobs in purchasing.
Very intuitive interface. Most users were able to pick up how to use it with minimal training. Previously, in MS Dynamics SL the interface was so difficult people simply stopped submitting purchase order requests. With Fraxion, we have nearly 100% compliance.
enter purchase request and enter charge code and method of payment- upload bill - approval email goes out. Request approved or denied. Record
online record of bills
Search capability is almost non-existent. Filtering means 0 results. at best, I pull up ALL invoices for a year and move to excel and then search.
This is a solid product for automating requisition and purchasing workflows and process. An excellent software choice for paperless automation. Product deals with routing and workflow quite well for a reasonable initial product cost.