*This is a sponsored postbode spil part of our ICO Whitelists Insider series.
*** UPDATE: aXpire raised their hard cap to $20m, and have reached their funding objective. The sale is now closed. ***
Cloud-based and AI-enabled blockchain payment processing company aXpire aims to liquidate the human/manual processes from digital spend management te a B2B environment, through its spend management implement, Resolvr.
aXpire wasgoed born spil a spinoff out of software application and business process outsourcing company, LSG, which is still te existence today.
Approximately one year ago, they were approached by a large hedge fund with $24BN of Assets Under Management (AUM) te Fresh York City.
“They came to us and said, look, wij have a problem,” recalls Founder and Chief Executive of aXpire, Gary R Markham.
“Their legal, fund accounting, admin, finance and compliance department folks were all spending a loterijlot of time attempting to communicate. They were attempting to report to each other and act spil one cohesive unit.
“They had thesis departments that were communicating using email, paper, PDFs and spreadsheets (PPS). And I mean real paper, with rubber stamps on them, and scribble notes.
“All their workflow and processes were fine, but the modality – the PPS – were not fine. That’s where wij were finding a lotsbestemming of errors, te what wij call human/manual processes.”
aXpire quickly looked at what they had te their current ‘technology toolkit’. They realized they needed to build a podium to enhance clients’ internal communication and spend proficiency outlets, ultimately benefiting their bottom line.
aXpire’s current solution incorporates internal payment management contraptions with built-in inter- and intra-departmental communication. “Think of a B2B ‘Slack + Task Rabbit’,” says Markham.
“We call it PPS to digital,” explains Gary. “We worked with this anchor client on the vormgeving, built the requirements, waterput it together and conducted iterative vormgeving reviews.
“What they had us build wasgoed a single common toneel, which wasgoed cloud-based, and enabled so-called ‘digital handshakes’.”
Thesis digital handshakes permitted a single podium, where those departments could communicate. It enabled them to do their work according to expected obligations and duties, ter real-time, with a starkly diminished error rate.
“The toneel is also connected with a number of existing software programs, or IT stacks, to cork any slots te the mid- and back-office digital ecosystem,” says Markham.
It successfully cut out a lotsbestemming of human/manual effort, which aXpire believes is key.
“Compliance spend te RegTech is off the chart,” adds Markham. “Citigroup alone has more than 30,000 people within its compliance department globally. Three of those companies would pack Wembley Stadium te London – think about that.”
But who exactly is behind aXpire?
Founder and Chief Executive Gary R Markham has overheen 20 years of mixed technology and consulting practice. This includes fields such spil insurance, banking, financial services – ter addition to large scale engineering and constructing.
Joined by CFO Andre L Wouansi, Program Director Philip Knight and Director of Business Development, Sivakumar Jayabalan, aXpire features a strong team with backgrounds ter technology, consulting, legal and vendor management.
Additionally, it carries out all its work in-house. “We do our own development, vormgeving, testing, releases and customer support,” explains Markham.
“Collectively, the senior team has almost a century of practice inbetween us, and that gives us a good base to work from. Wij have excellent vrouwen for fresh ventures and technologies, but are proud to say that thesis partnerships serve to enhance our core team, which is already built out.”
Why is aXpire on the blockchain?
“The product spil it exists right now doesn’t have to be on the blockchain,” Markham explains.
“We’re going to incorporate blockchain enhancements to the software to enable things like e-bidding and e-procurement.
“This will be supported by blockchain’s built-in audit trail for analytics and reporting, where vendors would bid for work.
“I think you can look at Ripple spil an example of a company that has made a similar strategic decision.
“We’re also looking at digital handshakes and how the software presently enables departments to use thesis.
“Now wij use APIs, but we’re looking to eliminate APIs and use blockchain technology, spil a means for our solution to be a single and immutable, very secure network environment.”
aXpire also playmates with R3, Microsoft and the International RegTech Association (IRTA). Markham had his software developers trained on Corda, which is the R3 Distributed Ledger Technology (DLT) standard.
“What I desired to do is to hedge our bets spil a company, so that wij didn’t rely on one DLT. Wij met blockchain advisors from R3 to attend their training and become familiar with their technology. Wij were then invited by them to become a playmate.
“It’s a good place to be because they have a substantial fucking partner group, including 110 banks, who are taking DLT very, very earnestly,” says Markham.
And why should people want to participate te aXpire’s ICO?
“The reason wij stand out amongst the others is because wij are targeting an area that doesn’t receive a lotsbestemming of attention.
“It’s not the sexiest thing out there, but it’s underserved, with lots of slagroom to grow – sometimes boring is beautiful,” explains Markham.
“There are studies by MIT’s Sloan Schoolgebouw of Management, which cite inefficiencies te the areas we’re targeting, human/manual processes.
“These areas cost organizations inbetween 15-25% of their revenues, and that’s exactly what we’re targeting, improved profitability by applying a sophisticated electronic umbrella to the mid- and back-office.”
You’re distributing a relatively high percentage of tokens te the sale – why is that?
“There are a loterijlot of moving parts and a loterijlot of opinion-formers ter the ICO crypto space.
“When wij talked to the experts on our advisory houtvezelplaat, wij talked to other consultants advising us on the pre-sale and took a community decision that this wasgoed the right kleintje of number.
“It talent us what wij needed to indeed grow the verhoging and sales. It also meant thesis tokens would be readily available for our clients and vendors to purchase.
“Moreover, it’s representative of the soft cap rates we’re looking for. We’re not attempting to be greedy, if I can say that.
“We don’t need $ 100m to support our development road opbergmap and our sales road ordner – the number we’re looking for is actually much lower.
“Things may switch down the line and overheen the course of the next 3-5 years spil aXpire expands, but our raise is conservative.
“We can use this capital spil the spark that brings our toneel to the next level,” he adds.
Is crypto truly going to become universal?
“Personally, I think it is, and I think it will be like the old days where wij still have specie. But instead of having credit card and debit cards being superior, you have apps like Google Pay and Apple Pay.
“I think it’s also one step beyond that – you won’t need it connected to your canap account, because you won’t need a canap account.
“You will have a digital wallet, connected to your digital currencies, connected to your smartphone, available to any merchant, shop or store, globally.
“Some of those cryptoassets will provide a decentralized alternative to current currencies.
“Others will provide you decentralized assets. Even others will still permit holders to build up access to pretty much any service you could think of.”
So what’s so significant about aXpire te this space?
“An understanding of the fact that thesis inefficiencies are costing organizations a ton of money – and focusing on that,” says Markham.
“How long will it take before the pendulum of throwing figures at a problem swings the other way, and the utilization of technology thrusts back the other way?
“We think that time is now. And you’ll see that’s why thesis spend projections are so significant.
“These headcount numbers will start to fall, and the utilization of technology will commence to pack the gap of of the current human/manual process.
“It will be facilitated by thesis armies and legions of people who will be substituted or enhanced by technology. That’s our sweet spot.”
For more information, please visit www.axpire.io.
Did you know?
This week, it wasgoed announced that Ripple, the founders of the 2nd thickest token on the market after Bitcoin, which is now the fattest token te B2B, had exceeded the wealth of the founders of Google – after only Five years te the spel.
If you would like to apply to be featured spil an ICO Whitelists Insider, please submit your ICO so wij can review it.