PricewaterhouseCoopers (PWC) and software company Fraxion have collaborated on a solution for international best practices in spend management.
The Global Best Practices solution is aimed at delivering an "industry-specific, charter-compliant, scalable spend management solution, and streamlines, improves and optimises business methodologies", say the companies.
"Best practices are simply the optimal way to set up and execute a business process," says Stanton Jandrell, CEO of Fraxion. "They are the means by which leading companies have achieved top performance, and they serve as goals for other companies striving for excellence."
"Through improved and optimised processes we believe that Fraxion can add value to organisations," says Chris Bredenhann, partner at PWC.
"We have investigated what processes and best practices need to be integrated into the Fraxion software to ensure a successful implementation.
"The end result is a recommended process based on best practice. Global Best Practices delivers the insights needed to help make informed decisions. Through Global Best Practices we provide online tools, information and analysis that allow organisations to compare their performance against leading companies and discover how they have achieved success.
"More than that, we help identify areas in companies that need extra help and we provide them with the know-how to get the organisation working at its best."
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