Our Verdict…

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.

9.5
Our Rating
based on our expert editorial analysis
9.3
User Rating
based on 14 user reviews
Best for: Fraxion software targets the mid-market segment, particularly organizations with 50 to 500 employees.
Pros:
  • Mobile app for on-the-go access, particularly useful for reimbursement
  • Monthly subscriptions offer low per user cost
  • Offers insights into spending patterns
  • Automated procurement
  • Reduce approval bottlenecks
Cons:
  • High implementation costs compared to other developers
  • Additional PunchOut vendors are $60 per month
  • Not suitable for larger organizations with more complex accounting needs
Starting Price
$17.50 /user/month
Price Range Learn More
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   $     $     $     $     $   
Pricing Details
5 user minimum for base package
  • Developer Fraxion
  • Client OS iOS, Android, Web
  • Deployment Cloud or On-Premises

What is Fraxion?

Fraxion is top-rated by users and trusted worldwide by mid-sized companies to automate purchasing and AP processes and manage operational spend. This solution can be used company-wide and streamlines finance, purchasing, and procurement processes for companies across industries. It replaces manual, paper, email, and spreadsheet-based processes with automated procure-to-pay efficiency.

Fraxion’s easy, mobile interface empowers accountable, compliant purchasing from any location. Users can make informed decisions and approve requests with confidence with complete visibility and real-time budget insights. AI-powered invoice data extraction and AP automation reduce the time and costs associated with accounts payable processes, while each step in the P2P process is supported by audit trails and digital records. Identify opportunities to save and make data-driven decisions with spend analytics, actionable insights, and reporting capabilities.

Achieve time and cost savings using Fraxion’s easy-to-use solution for:

  • Requisition-to-PO automation
  • Approval workflows
  • Budget and policy compliance
  • AP automation, invoice matching, and approvals
  • PunchOut
  • Expense management
  • Spend analytics and reporting
Pros Cons
  • Monthly subscriptions offer low per-user cost.
  • Mobile app for on-the-go access, particularly useful for reimbursement.
  • Offers insights into spending patterns.
  • AP automation feature.
  • High implementation costs compared to other developers.
  • Additional PunchOut vendors are $60 per month.
  • Not suitable for larger organizations with more complex accounting needs.

Target Market

Fraxion’s software is developed for organizations with employee counts ranging from 50 to 500. Engineered with scalability in mind, this solution adapts seamlessly to accommodate the growth of companies over time.

Our Ratings

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.

Report Analysis

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.

Mobile App for Faster Reimbursement

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.

Accounting Integrations

Fraxion integrates with several third-party accounting solutions to streamline financial operations. A few options include:

  • QuickBooks
  • Sage
  • Acumatica
  • Xero

Other integrations beyond accounting include:

  • MRI
  • Amazon Business
  • Oracle NetSuite
  • Microsoft Dynamics 365

The Microsoft integration includes the Binary Stream extension.

What Features Are Missing?

The Fraxion experience might be improved with:

  • Lower implementation costs: Fraxion has higher implementation costs than some of its competitors, making the pricing a bit steep for smaller businesses or startups. However, once those initial costs are taken care of, teh per user cost is comparatively low.

Pricing Plans

Plan Pricing Features
Subscription Request a quote The base package requires 5 users and includes:
  • 2 or 3-way matching
  • Invoice approval
  • Automated notifications and alerts
  • Email approvals
  • Document attachments
  • ERP and accounting integrations

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.

FAQ

Here are some frequently asked questions about Fraxion:

How much does Fraxion cost?

Fraxion uses subscription pricing. Requiring a minimum of 5 users, the base plan starts at $17.50 per user per month.

Alternatives

Procurify
Procurify Screenshot
Price Range
   $     $     $     $     $   
   $     $     $     $     $   
Starting Price
$1,000/month
Client OS
iOS, Android, Web
Deployment
Cloud Hosted
What We Like
Integrates with accounting systems
Cloud-based platform provides remote and mobile access
Tracks orders and automates reordering
What We Don’t Like
Some users have reported slow or lagging performance
Requires training to fully understand and use
Tipalti Approve
Tipalti Approve Screenshot
Price Range
   $     $     $     $     $   
   $     $     $     $     $   
Starting Price
$2,000/month
Client OS
Web
Deployment
Cloud Hosted
What We Like
Integrates with ERP systems
Secure AWS cloud infrastructure
SOC2 compliant
Precoro
Precoro Screenshot
Price Range
   $     $     $     $     $   
   $     $     $     $     $   
Starting Price
$35/user/month
Client OS
Web
Deployment
Cloud Hosted
What We Like
Simple and straightforward pricing
Both punchout and Punch-In catalogs
Integrations for the top accounting systems e.g. QuickBooks Online, NetSuite, Xero
What We Don’t Like
Few native integrations
Visually cluttered purchase requisitions
Poor user experience on mobile app

Summary

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.

Fraxion
★★★★★
★★★★★
(14)
Fraxion is top-rated by users and trusted worldwide by small to medium-sized companies to proactively manage purchasing processes and operational spend.
Price Range
   $     $     $     $     $   
   $     $     $     $     $   
Starting Price
$17.50/user/month
Client OS
iOS, Android, Web
Deployment
Cloud or On-Premises

User Reviews of Fraxion

★★★★★
★★★★★
Submitted on May 10th, 2022 by Anonymous

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

★★★★★
★★★★★
Submitted on May 10th, 2022 by Anonymous

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"

★★★★★
★★★★★
Submitted on May 10th, 2022 by Anonymous

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.

★★★★★
★★★★★
Submitted on May 10th, 2022 by Anonymous

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.

★★★★★
★★★★★
Submitted on May 10th, 2022 by Anonymous

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.

★★★★★
★★★★★
Submitted on May 10th, 2022 by Anonymous

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.

★★★★★
★★★★★
Submitted on January 27th, 2020 by Sean F

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.

★★★★★
★★★★★
Submitted on January 27th, 2020 by Brad P

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.

★★★★★
★★★★★
Submitted on January 27th, 2020 by Theuns S

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.

★★★★★
★★★★★
Submitted on January 27th, 2020 by Jared C

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.

★★★★★
★★★★★
Submitted on September 30th, 2019 by Brad P

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.

★★★★★
★★★★★
Submitted on September 30th, 2019 by Jared C

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.

★★★★★
★★★★★
Submitted on June 4th, 2019 by Anonymous

enter purchase request and enter charge code and method of payment- upload bill - approval email goes out. Request approved or denied. Record

The Good…

online record of bills

The Bad…

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.

★★★★★
★★★★★
Submitted on February 19th, 2015 by Mark

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.