Fraxion, the only cloud-based procure-to-pay solution for efficient business expense management in the mid-market, today announced the addition of Matt Diamond to its board of directors. Diamond is an experienced entrepreneur, investor and media executive who boasts more than twenty years of experience in various industries such as media, retail and non-profit.
“Throughout my various experiences, I have seen firsthand the impact procurement and spend management solutions have on a business. Having been in the position of a buyer, both efficiency and a visible trail of spend in the procure-to-pay process are top of mind for me,” said Diamond. “In the past, enterprise-level tools and functionalities were not available to small and medium-sized businesses, removing the option to be as efficient in their spend management processes as larger counterparts. Fraxion is closing the gap for these businesses, allowing the otherwise underserved mid-market to access a solution that improves efficiency, workflow and overall operations.”
Diamond has served as CEO of various media companies including Alloy, Inc (NASDAQ: ALOY), which he co-founded. Alloy owned popular teen brands such as Smosh, Clevver and Honest Trailers. Alloy was also the first direct-to-consumer youth media company, later morphing into a multi-discipline marketing unit, Alloy Media + Marketing, which Diamond was instrumental in establishing. Diamond then went on to create and lead key expansions, including Alloy Entertainment, which produced hit television shows like Gossip Girl, Vampire Diaries and Pretty Little Liars. Prior to founding Alloy, Diamond held positions in the Finance and Operations departments at the General Electric Company.
“Our mission is to provide the underserved mid-market with a cloud-based and comprehensive spend management solution that stands above the rest and Matt shares this vision,” said Stanton Jandrell, CEO and co-Founder of Fraxion. “Matt adds invaluable experience to the Fraxion board through his financial services background with GE and also brings a buyers perspective due to his time managing the procurement process of various globally recognized, top-ranked brands.”
Diamond joins the Fraxion board alongside Rick Gustafson, former ServiceMax CFO and Stijn Hendrikse, former Fraxion CMO and executive at Microsoft and Acumatica. This announcement follows Fraxion’s recent United States brand launch and merger with eRequester. For more information on Fraxion’s leadership team and expansion, please visit https://www.fraxion.biz/.
Fraxion offers an innovative cloud solution for spend enablement and efficiency trusted by thousands of brands worldwide including New York Parks & Recreation, The Y Southcoast, Rochester Management, Kasasa, Virginia International University and National Kidney Foundation. Top rated by Gartner, Fraxion actively manages over $10 billion of spend across the globe between 1,000 customers with 200,000 active users. Using Fraxion, businesses can spend smarter and streamline the procurement process for better business outcomes. Learn more at www.fraxion.biz.