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Fraxion

Fraxion is a procure-to-pay platform for mid-market finance teams that connects purchasing, accounts payable automation, expenses and spend analysis so spend is approved, in budget and auditable.

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By Fraxion

fraxion.biz

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Overview

Employees submit purchase requisitions that are checked against budget and policy and routed for approval; approved requests become purchase orders automatically, with catalog and PunchOut purchasing, goods receiving and an approved vendor master. Invoices are captured with AI-assisted extraction, matched to purchase orders and receipts, coded by rules, approved and posted to the connected ERP. Expense and travel management, a native mobile app and spend analysis with monthly AI summaries complete the platform.
More product details

Product

Demo Url
fraxion.biz
License Model
Proprietary
Solution Kind
Platform

Who it is for

Industries
  • Healthcare
  • Life sciences
  • Education
  • Financial services
Organization Types
  • Business
  • Nonprofit
  • Education
Roles
  • Executive

Images

Vendor profile in Fraxion showing approval status, committed and actual spend, invoice counts and open purchase orders.1 / 2

Vendor profile in Fraxion showing approval status, committed and actual spend, invoice counts and open purchase orders.

Fraxion vendor profile page with approved status, spend dashboard and payment defaults

Before you choose

Check before choosing

  • Designed for mid-size organizations rather than enterprise-scale systems or lightweight small-business tools.

Features

Invoice Processing

AI-powered invoice data extraction and review

Rules-based GL coding and cost center allocation

More details & conditions: Invoice Processing

Two- and three-way matching to purchase orders and receipts

Automated approval routing

Posting to the connected ERP

Categories: Accounts Payable

Vendor Management

Centralized approved vendor master synced with the ERP

Vendor approval and onboarding before spend is committed

More details & conditions: Vendor Management

Capture of W-9s, tax details, insurance certificates and banking information

Vendor ratings and performance dashboard

Diversity tagging and reporting

Categories: Accounts Payable

Invoice Management

Invoice intake and capture

Exception management and audit trails

More details & conditions: Invoice Management

Invoice batching

Mobile invoice approvals

Categories: Accounts Payable

ERP integration

Direct integration with QuickBooks Online and Desktop, Xero, Microsoft Dynamics BC, GP and SL, NetSuite, Sage Intacct, Sage 50/100/200/300 and Sage Evolution

Vendor data sync between Fraxion and the ERP

More details & conditions: ERP integration

Posting of validated purchase orders and invoices to the ERP

Categories: Accounts Payable

Approval Process Control

Automated approval routing for invoices

Approvals through web, mobile app or Microsoft Teams

More details & conditions: Approval Process Control

Exception management with audit trail

Categories: Accounts Payable

Accounting

Rules-based GL coding and cost center allocation

Posting of approved invoices to the connected ERP or accounting system

Categories: Accounts Payable

Duplicate Payment Alert

Flag duplicate invoices in real time before approval

Categories: Accounts Payable

Fraud Detection

Invoice risk grading before approval

Detection of duplicate invoices and pricing or quantity mismatches

More details & conditions: Fraud Detection

Mandatory vendor approval and logged changes to vendor banking details

Categories: Accounts Payable

Spend Analysis

Spend analysis by vendor, employee, budget and transaction

Dashboards and reports

More details & conditions: Spend Analysis

AI-generated monthly summary and risk grading

Categories: Spend Management

Expense Tracking

Real-time expense capture and receipt management on mobile

Policy enforcement and automated approvals

More details & conditions: Expense Tracking

Reimbursement workflows

Categories: Spend Management

Spend Control

Budget and policy controls at the point of request

Travel pre-approval and cash advance controls

More details & conditions: Spend Control

Purchases limited to approved vendors

Categories: Spend Management

Budget Control

Budget checks and alerts at the point of purchase

Approver visibility into budget impact before approval

More details & conditions: Budget Control

Audit trail of approval decisions

Categories: Spend Management

Show all details (23)

Categorization/Grouping

Spend grouped and analyzed by vendor, employee, budget and transaction

Categories: Spend Management

Approval Workflow

Multi-step approval workflows for requests, purchase orders, invoices and expenses

Approvals via web, mobile app or Microsoft Teams

Categories: Spend Management

Budgeting/Forecasting

Real-time visibility of committed, actual and available budget across departments, projects, grants and funds

Categories: Spend Management

Invoice Processing

AI-powered invoice data extraction and review

Rules-based GL coding

More details & conditions: Invoice Processing

Two- and three-way matching

Automated approval routing

Categories: Spend Management

Spend Management

Budget and policy checks at the point of request

Real-time committed, actual and available spend

More details & conditions: Spend Management

Spend analysis and reporting

Categories: Purchasing

Requisition Management

Guided purchase requisitions capturing required details upfront

Risk grading of requests

More details & conditions: Requisition Management

Approval workflows with budget and policy checks

Requests limited to approved vendors

Categories: Purchasing

Invoice Processing

AI-powered invoice data extraction and review

Rules-based GL coding and cost center allocation

More details & conditions: Invoice Processing

Two- and three-way matching to purchase orders and receipts

Automated approval routing

Categories: Purchasing

Purchase Order Management

Automatic PO creation from approved requests

Branded PO templates and automatic emailing to vendors

More details & conditions: Purchase Order Management

Change orders with approval

Electronic receipts and goods receiving

Three-way matching

PO analytics and consolidation

Categories: Purchasing

Supplier Management

Approved vendor master with approval workflow for new vendors

Vendor ratings and reviews

More details & conditions: Supplier Management

Vendor dashboard with committed vs. actual spend and open POs

Vendor spend analytics

Categories: Purchasing

Catalog Management

Internal catalog purchasing

PunchOut to 50+ vendor catalogs

More details & conditions: Catalog Management

PunchIn purchasing

Categories: Purchasing

Spend Analysis

Spend analysis by vendor, employee, budget and transaction

Insights dashboards and reports

More details & conditions: Spend Analysis

Benchmarking against mid-market peers

AI-generated monthly executive summary with A–F spend risk grade

Categories: Purchasing

Workflow details

Three Way Match
Yes

Categories: Purchasing

Budget Controls
Yes

Categories: Purchasing

Pricing

AP automation

Contact vendor

Contact vendor

Procure-to-pay

Contact vendor

Contact vendor

Procurement

Contact vendor

Contact vendor

Technical details

Deployment

Client Channels
  • Browser
  • Mobile app
Delivery Models
  • Cloud (SaaS)

Implementation

Delivery Mode
  • Vendor
Typical Duration
Unit
Months
Scope
Typical implementation, depending on ERP, user count and configuration requirements
Maximum
3
Minimum
1
Estimate kind
Vendor estimate

Customization

Supported Scopes
  • Branding

AI

Use Cases
  • Invoice data extraction
  • Risk analysis
  • Status summarization

Security

Assurances
  • Kind
    Audit report
    Scope
    Fraxion security controls covered by the SOC 2 report
    Standard
    SOC 2 (Type 1 report)
  • Kind
    Assessment
    Scope
    Fraxion Spend Management web application, 2026 penetration test
    Issuer
    Vatins
    Standard
    Penetration test (Pen-test proven assurance)

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