Institutions and businesses are witnessing a growing need to keep track of their spending and costs in order to stay ahead of the competition. Audit trails, billing, vendor management, and tokenization are rapidly becoming key components in ensuring businesses keep good internal controls on their funds across every department.
Despite the importance, companies are still finding it a challenge to effectively keep track of their accounting records, or worse, using outdated methods, which are usually ineffective and time-consuming.
The lack of having good audit trails can be catastrophic to businesses possibly facing challenges such as fraud, tax compliance, funding rejections, and compliance infractions. This calls for better products and services to keep accounting records across businesses.
While the advantages of keeping books in check are undeniable, businesses and institutional clients still face a challenge on the complexity audit trails and compliance requirements needed to set up businesses and properly manage them. aXpire, an SaaS development firm, aims to solve these problems by providing digital solutions on blockchain-based applications.
The platform offers institutional-grade security on its product suite allowing users to focus on their business while aXpire applications handle everything else.
One of the flagship products aXpire offers targets legal departments in institutions and banks. However, lawyers aren’t the biggest advocates of blockchain, and getting through to them can be a challenge in itself. Legal processes, record keeping, and tokenization are however getting their time in the spotlight, and solutions aXpire offers, are leading the charge in changing this field.
As alluded to, audit trail management in itself is a challenge – especially to lawyers, who need to incorporate billings and change accounting records regularly. Launched in 2017, aXpire offers a software-as-a-service (SaaS), built on blockchain, to businesses and legal practitioners ranging from e-commerce, job market platform, billing, spend management, and its AXPR token.
ExpenseCore, is a blockchain-based spend management tool that helps hedge funds, private equity funds, banks, and other institutions deal with the resource-intensive and time-costly process of allocating and appropriating external customer costs.
Additionally, the SaaS product also incorporates a vendor billing app, Bilr, a key app in enhancing accounting processes across businesses. The app, both available on mobile and desktop, allows institutions and other vendors to use speech-to-text AI to bill clients with ease and keep secure records.
— aXpire (@aXpire_official) February 18, 2021
aXpire also includes a digital shares platform that provides an institutional-grade tokenization platform to provide liquidity to illiquid assets such as real estate.
All these products are powered by the AXPR token, whereby a percentage of the income from each of the products is converted to AXPR and burned – effectively reducing supply.
In conclusion, the growing legal, audit trail, and accounts management challenges across institutions and businesses have previously wasted resources and time. However, solutions provided by aXpire aim to change the industry – integrating blockchain technology in the process – to enhance business proceeds and accounting records.
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