AXPIRE; IMPROVING PROFITABILITY THROUGH SECURE BLOCKCHAIN TECHNOLOGY

olyonyeka (47)in #blockchain • 7 years ago (edited)

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Increase in cryptocurrency exchanges are already proof that the blockchain can handle large transactional volumes. With all the benefits that the blockchain promises to provide to asset managers in the upcoming years, some funds have voiced potential concerns. These include the ability to handle large transactional volumes, meeting technology standards, cybersecurity, and legacy system interoperability. There is a giant in town that has come to tackle these problems (AXPIRE)
WHAT IS AXPIRE?
axpire is a blockchain based spend management provider that works with fund administrators and asset managers to streamline their processes. It was founded in January 2017, with headquarter in Manhattan, New York. It’s a subsidiary of LSG, LLC, an insurtech SaaS company that has worked with Nike, Coca Cola and NFL in the past. aXpire enable seamless spend management, in real time, through secure blockchain technology and machine learning throughout the lifecycle of services exchange. Machine learn mainly focused on mid- and back-office expense management improvements.ing enables clients to make wise invoicing decisions.By using Blockchain aXpire streamline spend management and protect client data, funds and can increase their operational cost efficiency, and increase the level of trust their clients have in them.

aXpire is an ERP SaaS company offering a suite of products to increase efficiency of service spend and general profit margins. aXpire acts a SaaS solution servicing regulated customers with strong barricade to entry through data gathering and security network effects.
aXpire serve asset managers and fund administrators at banks, hedge funds, private equity firms and other financial institutions to deal with the resource- and time-costly process of managing and distributing expenses to each fund, or split of funds, as appropriate. Phase one of aXpire company is building out and providing spend management service for asset managers. aXpire will expand its spend management technologies to industries such as food & beverage, transportation, healthcare e.t.c mainly focused on mid- and back-office expense management improvements.
Phase two is mainly focused on mid- and back-office expense management improvements. The aXpire suite application will enlarge and bring about seamless, digital connections across all key functional departments and stakeholders and can be represented diagrammatically below;
axpire suite.jpg

IMPORTANCE OF BLOCKCHAIN TO AXPIRE
• Removal of manual processes through machine learning
• Replace paper, PDF and spreadsheets (PPS) with digital workflows
• Ensure minimal touch points in the spend management process
• Increase operating profit by 15-25% [5]
• Enable electronic interdepartmental communications
• Track and manage workloads, timelines, expense aging
• Connect disparate “legacy” technologies as a “plug and play” solution
• Provide digital audit trails for regulatory compliance
• Reduce or remove data quality errors
• Enhance compliance reporting capabilities
• Provide robust data analytics dashboards
• Delivered via a highly secure SaaS model

AXP TOKEN
AXP token is a decentralised application(Dapp) token advanced on ethereum blockchain keeping with the ERC223 standards which is an improved version of ERC20 standard. It's an ERC20 token with ERC223 extension. The total supply is 350 million and will be burnt over time, reducing total supply. It is already trading on exchanges including Kucoin, HitBtc,IDEX and FORKDELTA
Token use is diagrammatically represented below;
axpire token 1.jpg
In conclusion the use of blockchain in aXpire is a huge form of increasing profit for businesses and companies by handling large transactional volumes, meeting technology standards, cybersecurity, and legacy system interoperability.