Fraxion's expense management solution streamlines the reporting, approval processes, and adherence to policies for businesses within the mid-market sector. Employees can effortlessly document expenses in real time, photograph receipts, file claims, and monitor the status of approvals using any device. Approvers have the ability to assess requests against current budgets and provide approvals through a mobile platform. Once claims are sanctioned and found to comply with policy, reimbursements are expedited.
This solution offers a range of features, including automated expense report generation, multi-tiered approval workflows, receipt capturing, tracking of per diem and mileage, management of billable expenses, travel pre-approval, policy enforcement, cash advance requests and reconciliation, along with comprehensive audit trails.
Fraxion's expense management is integrated within its comprehensive procure-to-pay platform, allowing finance teams to achieve unified oversight and governance over purchasing, accounts payable, and expenditures, complete with spending analysis and reporting tools. The platform adheres to SOC 2 compliance standards and supports integrations with various ERP and accounting systems. It is accessible on both iOS and Android devices.