Fraxion's accounts payable automation software streamlines the invoice processing workflow for mid-sized finance teams, leading to cost savings, quicker closing cycles, and the elimination of errors and overpayment risks associated with manual AP procedures.
Fraxion offers comprehensive automation throughout the accounts payable process, including invoice reception, AI-driven data extraction from both single and multi-page invoices, AI-assisted review, predictive coding, automated approval processes with mobile capabilities, invoice batching, and effortless integration with your financial systems.
The primary advantages encompass accelerated invoice processing, elimination of manual data entry, reduction of errors, minimized overpayment risk, detection of exceptions and duplicates, expedited month-end closing, and valuable AP insights regarding invoice volume, vendor expenditures, and processing times — all achievable without increasing staff.
Finance teams can begin with accounts payable automation and evolve to a complete procure-to-pay solution, incorporating procurement, expense management, and spend analysis within a unified platform, all without the need for reimplementation. The software integrates seamlessly with platforms such as Sage, Microsoft Dynamics, NetSuite, and QuickBooks.