Did you know that corporations spend a significant amount of money on data entry and payments processing across multiple departments? The manual data entry can be time consuming, error prone, and the use of legacy software with multiple databases across the payment tracking system can result in huge inefficiencies, data errors and lack of data communication between internal departments. Even companies using custom built SAP solutions for spend-management may have difficulties tracking payments across departments if business lines change, the company experiences growth or adds new products and product lines.
aXpire proposes a better solution to improve efficiency through a cloud-based artificial intelligence (AI) assisted platform for effective data entry and processing mainly pertaining to payments. Their suite of aXpire applications allow for unified, digital connections across all key functional departments and stakeholders including: Legal, Compliance / Regulatory, Fund Accounting, Administration, and Finance. aXpire’s Minimum Viable Product is already well developed and in use, available as a Software as a Service (SaaS) suite for real-time management and payment processing across multiple departments in a business.
Using aXpire brings many benefits such as replacing paper, spreadsheets and PDF files with digital workflows; reducing or removing data quality errors; enabling interdepartmental communications of data with the ability to track and manage workloads more effectively; and providing auditing and compliance. Most impressively the removal of manual processes through machine learning which decreases touch points in the management process is delivered by a very secure SaaS model. It is estimated that realizing these benefits can increase operating profits by 15-25%.
aXpire has already worked with big name clients such as Nike, Coca Cola and the NFL. The development team focuses the majority of its time on developing aXpire’s core applications to improve data gathering efforts that then allow machine learning at each client to provide increasingly refined solutions, eventually removing the majority of human input. aXpire is an ISO 9001:2015 and ISO 27001:2013 certified company; it upholds security and quality as important criteria when implementing solutions for their clients.
During its initial stages aXpire intends to focus on serving corporate Asset Managers and Fund Administrators at banks, hedge funds, private equity firms and other financial institutions. Using aXpire’s AI they will improve efficiency of managing and distributing fund expenses. Later, aXpire will expand its spend management technologies across industries outside of asset management with plans to offer its services to natural resource companies; travel and leisure; healthcare; food and beverage; transportation; and other businesses. In each case aXpire will work towards removing human-manual processes in the expense management life-cycle through its extremely secure SaaS model. Asset management expense allocation across different departments in non-financial businesses will improve efficiency similar to previous expense allocations used for asset managers during its initial stage.
The Development Team
The aXpire development team has extensive expertise and experience in the software-enabled payments space with nine full-time developers having blockchain competency from previous project work. The developers in partnership with R3 (an enterprise software company) worked to build Corda a proprietary blockchain-inspired platform.
Strong Partnerships Are Already In Place For Axpire
aXpire is actively involved in two core partnerships with R3 and Microsoft. aXpire has been an official partner of R3 since November 2017. Other partners include: Accenture, Bain & Company, Cognizant, KPMG, Hewlett Packard, Intel and Microsoft. Based on its company strength and partnerships TrackICO gave the aXpire ICO high marks with a score of 4.1 out of 5.
The aXpire Token
The aXpire token will list as symbol AXP. The AXP token is a decentralized application (dapp) token developed on top of Ethereum blockchain, using the ERC223 standards, which is an enhanced version of ERC20 standards. The aXpire network is free to use and the code is open source, with an Apache license. During the ICO the AXP token has the valuation 1 AXP = 0.10 USD. The total supply of the tokens is set at 350 million with 75% of the total (262.5 million) available during the ICO. The remaining 25% will be held in the corporate wallet as working capital. Any unsold ICO tokens will be returned to the corporate wallet. The token pre-Sale is from Jan. 8, 2018 – Feb. 8, 2018 and the token sale from Feb. 8, 2018 – March 22, 2018. aXpire has set a soft cap of $3m and a hard cap of $20m for their ICO.
Risks to aXpire
There may be some concern over the planned growth of aXpire. Working closely with clients one on one to customize its AI to the client systems could present a bottleneck as the team may only be able to work with one or a small number of clients at any given time. As aXpire proves its SaaS model the demand for its services will increase and team expansion, if needed, should meet any future growing pains.
Summary
aXpire has an open source product focused on the automation of data entry using AI learning to increase efficiency. A strong development team and clients that have used the SaaS show aXpire will be able to deliver its product. aXpire already has a real product with existing customers and going forward has a plan to expand beyond its initial deployment in the financial sector to other areas. The growth potential for aXpire over time is undeniable. AXP is a buy and the company is well set up for an excellent future.
Website: http://axpire.io/
Whitepaper: http://axpire.io/downloads/aXpire_Whitepaper_v1.1.0.pdf
Light Paper: https://medium.com/@aXpire/what-is-axpire-a-light-paper-primer-e02dbcbf3e0a
Social Media Links:
Twitter: https://twitter.com/aXpire_official
Reddit: https://www.reddit.com/r/aXpire/
Facebook: https://www.facebook.com/Axpire-537274833301303/
Discord: https://discordapp.com/invite/vXuyMU
Medium: https://medium.com/@aXpire
Written by g.m.tyshenk
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