--- title: "Purchasing and spend management software for healthcare and biotechnology organizations" description: "Streamline healthcare purchasing with Fraxion" canonical: https://www.fraxion.biz/industries/healthcare url: https://fraxion.getmd.ai/industries/healthcare.md last_converted: 2026-08-22T02:10:56.889Z --- ```json { "@context": "https://schema.org/", "@graph": [ { "@type": "SoftwareApplication", "name": "Fraxion", "image": "https://www.fraxion.biz/hubfs/Mercuric/fraxion-procurement-software-logo-color.svg", "description": "Fraxion is a mid-market procure-to-pay platform that helps finance teams control spending before money is committed, automate AP, and extend their existing ERP—without the complexity of an enterprise system.", "brand": { "@type": "Brand", "name": "Fraxion" }, "aggregateRating": { "@type": "AggregateRating", "ratingValue": "4.4", "bestRating": "5", "worstRating": "1", "ratingCount": "193", "reviewCount": "193" }, "review": { "@type": "Review", "name": "G2 User", "reviewBody": "It used to take me a month and a half just to enter invoices; now I can easily get through each one in about three to four minutes. Fraxion pulls in all the details—prices, quantities—so it's much easier to spot mistakes. It's made my job so much easier.", "reviewRating": { "@type": "Rating", "ratingValue": "5", "bestRating": "5", "worstRating": "1" }, "datePublished": "2026-03-12", "author": { "@type": "Organization", "name": "G2" }, "publisher": { "@type": "Organization", "name": "G2" } } } ] } ``` Procure-to-pay software for healthcare # Compliant, controlled spending for healthcare, life sciences, and biotech Purpose-built for highly regulated industries. Centralize purchasing, approvals, and accounts payable across every lab and site, with project, grant, fund, and budget tracking for every transaction. [See a demo](https://www.fraxion.biz/get-a-demo) ![Purchase request with cost allocation and approval group for lab supplies](https://www.fraxion.biz/hubfs/Purchase%20request%20with%20cost%20allocation%20and%20approval%20group%20for%20lab%20supplies.webp) ## Companies we work with ![Fate Therapeutics](https://www.fraxion.biz/hs-fs/hubfs/website%20rebrand%202026/HEALTHCARE/Fate%202.webp?width=73&height=38&name=Fate%202.webp) ![Healthcare client](https://www.fraxion.biz/hs-fs/hubfs/website%20rebrand%202026/HEALTHCARE/OIP%20(20)%201.webp?width=52&height=45&name=OIP%20(20)%201.webp) ![Healthcare client](https://www.fraxion.biz/hs-fs/hubfs/website%20rebrand%202026/HEALTHCARE/OPENGRAPH-IMAGE-en-us-1626972396774%202.webp?width=132&height=46&name=OPENGRAPH-IMAGE-en-us-1626972396774%202.webp) ![Healthcare client](https://www.fraxion.biz/hs-fs/hubfs/website%20rebrand%202026/HEALTHCARE/R%20(4)%201.webp?width=112&height=39&name=R%20(4)%201.webp) ![Healthcare client](https://www.fraxion.biz/hs-fs/hubfs/website%20rebrand%202026/HEALTHCARE/OIP%20(18)%202.webp?width=102&height=50&name=OIP%20(18)%202.webp) ![Healthcare client](https://www.fraxion.biz/hs-fs/hubfs/website%20rebrand%202026/HEALTHCARE/OIP%20(19)%201.webp?width=140&height=53&name=OIP%20(19)%201.webp) ![Bay Area client](https://www.fraxion.biz/hs-fs/hubfs/download-removebg-preview.png?width=110&height=110&name=download-removebg-preview.png) ![SIGA Technologies](https://www.fraxion.biz/hs-fs/hubfs/website%20rebrand%202026/HEALTHCARE/siga-570x570%201.webp?width=102&height=41&name=siga-570x570%201.webp) ![Healthcare client](https://www.fraxion.biz/hs-fs/hubfs/website%20rebrand%202026/HEALTHCARE/OIP%20(17)%202.webp?width=224&height=49&name=OIP%20(17)%202.webp) ![Soley Therapeutics](https://www.fraxion.biz/hs-fs/hubfs/Frame%2015383.png?width=147&height=52&name=Frame%2015383.png) ![BioFire Diagnostics](https://www.fraxion.biz/hs-fs/hubfs/website%20rebrand%202026/client%20logos/BioFireDX_logo.webp?width=167&height=77&name=BioFireDX_logo.webp) ![aTyr Pharma](https://www.fraxion.biz/hs-fs/hubfs/website%20rebrand%202026/HEALTHCARE/aTyr%202.webp?width=65&height=39&name=aTyr%202.webp) ![Healthcare finance professional approving purchase requests from a mobile device](https://www.fraxion.biz/hs-fs/hubfs/Group%201707480482.webp?width=1092&height=1638&name=Group%201707480482.webp) ## From compliance risk to financial control Healthcare, life sciences, and biotech organizations operate under intense regulatory scrutiny, complex approval requirements, and constant pressure to reduce operational costs without compromising compliance, research integrity, or patient outcomes. Yet most finance teams are still managing procurement and accounts payable manually across disconnected tools and systems, paper-based approvals, and fragmented vendor records. The results are compliance gaps, audit risk, maverick spending, and AP backlogs that slow the entire organization down. [Request a demo](https://www.fraxion.biz/get-a-demo) ## Why healthcare organizations choose Fraxion Managing purchasing and AP across multiple laboratories, clinics, and facilities makes budget control complex and compliance risk high. Fraxion centralizes processes and records in one platform, giving finance teams complete spend visibility, tighter cost allocation, and full transparency across every location, project, and grant. ### 50–80% faster approval cycles Approval cycle times drop by 50–80%, so labs get critical supplies and equipment without delays. ### Multi-budget tracking Track and analyze spend across multiple budgets, projects, and grants in real time. ### Audit-ready grant records Maintain complete, audit-ready grant spending records for reporting, compliance, and funding accountability. ### Approved vendors Direct purchasing to approved vendors via PunchOut integrations and internal catalogs. ### Free up hours Free up hours previously lost to manual processes, giving teams more time for research and patient care. With Fraxion, we just enter the info in the system, even from remote locations. Everything goes through the whole approval process automatically. Most orders only take one to two minutes to complete. What’s more, Fraxion interfaces seamlessly with our finance system. And keeps the full approval flow, so it’s easy for auditors to see that everything’s correct.**We definitely get a good return on investment, that’s for sure.** Jason Schnieder Associate Director Operations, aTyr Pharma ## How Fraxion supports healthcare and life sciences finance operations Purchasing & vendor compliance ## Faster purchasing. Tighter vendor control. Zero policy gaps. Centralize purchasing and vendor compliance across every lab, site, and facility in one platform, giving finance teams complete visibility and control over every purchase request, from submission to receipt. Manage everything from everyday lab consumables and facility supplies to high-value capital equipment and new lab provisioning, with every transaction policy-enforced, routed through the right approvals, and fully auditable before a single dollar is spent. - Request and approve from anywhere: web, mobile, or Microsoft Teams - Eliminate maverick spending and unauthorized purchases with automated policy and vendor approval enforcement - Never miss an approval with configurable, multi-level workflows that route every request to the right approver automatically - Control high-value CapEx purchasing, implement quoting policies, and consolidate orders to drive savings - Stay audit-ready with complete purchasing records and digital logs [Learn more →](https://www.fraxion.biz/purchasing-workflow) ![Fraxion purchase request with multi-level approval routing and policy enforcement](https://www.fraxion.biz/hs-fs/hubfs/Fraxion%20purchase%20request%20with%20multi-level%20approval%20routing%20and%20policy%20enforcement.webp?height=2000&name=Fraxion%20purchase%20request%20with%20multi-level%20approval%20routing%20and%20policy%20enforcement.webp) ![PunchOut vendor catalog purchasing inside Fraxion](https://www.fraxion.biz/hubfs/website%20rebrand%202026/HEALTHCARE/Frame%202118392021-2.webp) PunchOut & vendor catalogs ## Buy smarter. At the right price. Healthcare and life sciences organizations purchase from a complex mix of specialized medical, laboratory, and biotech suppliers. Fraxion’s PunchOut catalog integrations bring your approved suppliers, including McKesson, Thermo Fisher, Sigma-Aldrich, ZAGENO, and others, directly into your procurement workflow, ensuring every purchase is made at pre-negotiated prices, from approved vendors, with full policy compliance and auditability built in. - Shop directly from approved, integrated healthcare and biotech vendor catalogs, or host your own internal catalogs - Guarantee pre-negotiated pricing on every purchase, eliminating off-contract buying and price discrepancies across every lab and facility - Validate every purchase against budgets and ensure policy compliance - Reduce time spent sourcing and ordering across multiple supplier sites - Automatically generate purchase orders from approved requests — no manual data entry, no delays [Learn more about PunchOut →](https://www.fraxion.biz/punchout-catalog-software) Healthcare PunchOut vendors ![Amazon Business](https://www.fraxion.biz/hs-fs/hubfs/Amazon%20business-1.png?width=210&height=34&name=Amazon%20business-1.png) ![Thermo Fisher Scientific](https://www.fraxion.biz/hs-fs/hubfs/image%20491.png?width=193&height=27&name=image%20491.png) ![Henry Schein](https://www.fraxion.biz/hs-fs/hubfs/Website%20Resources/Vendor%20List/Henry%20Schein%20(Medical%20-%20Dental%20-%20Special%20Market).webp?width=412&height=113&name=Henry%20Schein%20(Medical%20-%20Dental%20-%20Special%20Market).webp) ![Life Tech Pharma](https://www.fraxion.biz/hs-fs/hubfs/image%20492.png?width=46&height=45&name=image%20492.png) ![McKesson](https://www.fraxion.biz/hs-fs/hubfs/image%20493.png?width=146&height=20&name=image%20493.png) ![BioLegend](https://www.fraxion.biz/hs-fs/hubfs/Website%20Resources/Vendor%20List/BioLegend.webp?width=421&height=120&name=BioLegend.webp) ![ZAGENO](https://www.fraxion.biz/hs-fs/hubfs/ZAGENO_LOGO%201.png?width=121&height=26&name=ZAGENO_LOGO%201.png) ![Sigma-Aldrich](https://www.fraxion.biz/hs-fs/hubfs/Website%20Resources/Vendor%20List/Medline%20Industries.webp?width=139&height=90&name=Medline%20Industries.webp) ![Sigma-Aldrich](https://www.fraxion.biz/hs-fs/hubfs/Website%20Resources/Vendor%20List/Sigma%20Aldrich.webp?width=144&height=50&name=Sigma%20Aldrich.webp) ![Sigma-Aldrich](https://www.fraxion.biz/hs-fs/hubfs/Website%20Resources/Vendor%20List/Bualo%20_%20Hospital.webp?width=205&height=96&name=Bualo%20_%20Hospital.webp) ![Sigma-Aldrich](https://www.fraxion.biz/hs-fs/hubfs/Website%20Resources/Vendor%20List/Cole-Parmer.webp?width=188&height=94&name=Cole-Parmer.webp) ![Sigma-Aldrich](https://www.fraxion.biz/hs-fs/hubfs/Website%20Resources/Vendor%20List/Bio-Rad.webp?width=104&height=30&name=Bio-Rad.webp) ![Sigma-Aldrich](https://www.fraxion.biz/hs-fs/hubfs/Website%20Resources/Vendor%20List/Fisher%20Scientific.webp?width=207&height=57&name=Fisher%20Scientific.webp) ![Sigma-Aldrich](https://www.fraxion.biz/hs-fs/hubfs/Website%20Resources/Vendor%20List/Merck%20Millipore%20Sigma.webp?width=768&height=432&name=Merck%20Millipore%20Sigma.webp) ![Sigma-Aldrich](https://www.fraxion.biz/hs-fs/hubfs/Website%20Resources/Vendor%20List/Benco%20Dental.webp?width=4650&height=1497&name=Benco%20Dental.webp) ![Life Tech](https://www.fraxion.biz/hs-fs/hubfs/Website%20Resources/Vendor%20List/Life%20Tech.webp?width=317&height=159&name=Life%20Tech.webp) ![Revitty](https://www.fraxion.biz/hubfs/Website%20Resources/Vendor%20List/Revvity.svg) ![VWR](https://www.fraxion.biz/hs-fs/hubfs/Website%20Resources/Vendor%20List/VWR.webp?width=2700&height=1414&name=VWR.webp) [Learn more about our vendor catalogs →](https://www.fraxion.biz/catalog) Accounts payable ## Process more invoices. Pay faster. Eliminate financial risk. Manual AP processing is one of the biggest hidden costs in healthcare and life sciences finance, creating payment delays, invoice errors, and overpayment risk that compound across every lab, site, and facility. Fraxion’s AP automation eliminates the backlog, reduces financial risk, and gives finance teams the speed and accuracy to close the books faster. - Process invoices faster and cut AP cycle times by up to 80%, from 10–14 days to as little as 2–4 days - Free up AP team capacity by eliminating manual data entry with AI-powered invoice capture and data extraction - Protect the organization from financial risk by identifying and eliminating duplicate invoices and overpayments before they are processed - Improve invoice accuracy and cut error rates, reducing supplier disputes and reconciliation time - Capture discounts through faster payment cycles - Ensure only pre-approved, policy-compliant invoices are posted to your financial system, keeping your records accurate and audit-ready [Learn more →](https://www.fraxion.biz/ap-automation) ![AP automation in healthcare-1](https://www.fraxion.biz/hs-fs/hubfs/AP%20automation%20in%20healthcare-1.webp?height=2000&name=AP%20automation%20in%20healthcare-1.webp) Spend analysis, grants & budget tracking ## Spend visibility. Smarter decisions. Stronger grant compliance. Without real-time spend visibility, healthcare and life sciences finance teams are making budget and procurement decisions in the dark, leaving cost-saving opportunities undiscovered, grant spending untracked, and audit preparation reactive rather than proactive. Fraxion’s embedded analytics platform, Insights, gives finance teams a single, real-time view of every dollar spent across every lab, site, project, and grant — turning purchasing data into actionable decisions. - Gain a single, real-time view of all organizational spend across every lab, site, project, and cost center — no more waiting for month-end reports - Track, manage, and report on spend across multiple grants, funds, budgets, and cost allocations in real time — maintaining audit-ready records for funding compliance, reporting requirements, and financial accountability - Make faster, more informed budget decisions with real-time visibility into committed spend across every department, vendor, and location - Identify where to cut costs, consolidate suppliers, and optimize purchasing and AP processes, before inefficiencies compound across multiple sites - Uncover hidden savings opportunities and process inefficiencies across the entire organization with embedded analytics [Learn more →](https://www.fraxion.biz/spend-analytics-software) ![aTyr Pharma case study](https://www.fraxion.biz/hs-fs/hubfs/website%20rebrand%202026/HEALTHCARE/case%20study%20image.webp?width=422&height=350&name=case%20study%20image.webp) Case study ## How aTyr Pharma reduced purchasing cycle times with complete auditability aTyr Pharma replaced slow, paper-based purchasing with Fraxion’s automated procurement system, eliminating approval delays and improving visibility. With direct ERP integration and real-time tracking, they gained complete audit readiness, reduced processing time for specialized orders, and enhanced compliance. [Read more](https://www.fraxion.biz/success-stories/atyr-pharma) ## Every day without automated procurement and AP is a compliance risk and a cost you don’t need to carry. Whether you need to automate procurement, AP, or both, Fraxion gives healthcare, life sciences, and biotech finance teams the compliance, visibility, and control they need, with the flexibility to scale across every lab, site, and facility at your own pace. [Book a demo](https://www.fraxion.biz/get-a-demo) ![Fraxion procurement and AP automation dashboard for healthcare finance teams](https://www.fraxion.biz/hubfs/website%20rebrand%202026/HEALTHCARE/Frame%202118392018.webp) ## FAQs Frequently asked questions about Fraxion’s procurement and AP software for healthcare and life sciences. Need more information? ### What is procurement software for healthcare and life sciences organizations? Procurement software for healthcare and life sciences organizations automates the entire purchasing process from purchase requisition and approval routing to purchase order generation, vendor management, and invoice automation, giving finance teams real-time visibility and control over every dollar spent across every lab, site, and facility, with every transaction policy-compliant and fully auditable. ### Does Fraxion integrate with healthcare and biotech suppliers like McKesson and Thermo Fisher? Yes. Fraxion’s PunchOut and vendor catalog integrations connect directly with leading healthcare and biotech suppliers, including McKesson, Thermo Fisher, Sigma-Aldrich, ZAGENO, and more, ensuring every purchase is made at pre-negotiated prices, from approved vendors, with full policy compliance and auditability built in. ### How does procurement software support regulatory compliance in healthcare and life sciences? Procurement software supports regulatory compliance in healthcare and life sciences by enforcing spend policies at every approval point, maintaining complete audit trails from purchase request to payment, and ensuring only pre-approved, policy-compliant transactions are posted to your financial system, keeping your organization inspection-ready at all times without manual preparation. ### How does Fraxion support grant and fund tracking for life sciences and biotech organizations? Fraxion enables life sciences and biotech finance teams to track, manage, and report on spend across multiple grants, funds, budgets, and cost allocations in real time — maintaining audit-ready records for funding compliance, reporting requirements, and financial accountability across every research program and cost center. ### Can procurement and AP automation software integrate with healthcare ERP systems? Yes. Fraxion integrates with leading ERP and financial systems used by healthcare, life sciences, and biotech organizations, ensuring only pre-approved, policy-compliant data syncs to your financial system, preventing duplicate data entry, reconciliation errors, and unauthorized spend from reaching your books. We have various methods and levels of automation for communicating with all ERP/accounting systems. [View our integrations](#), or get in touch to discuss your healthcare purchasing needs. [Get in touch](https://www.fraxion.biz/get-a-demo) [View integrations](https://www.fraxion.biz/integrations)