Digital technologies have a significant impact on our lives. From the way we interact, meet, talk and engage with others, to the way we work. However, the greater effects can be majorly seen in organizations and institutions.
Digital transformation is about employing innovative digital technologies to meet the rapidly changing industry requirements. It helps organizations create effective approaches and modify the existing strategies to manage the company culture, customer experience, and business processes. The onset of COVID-19 and rapid digitalization has made digital transformation paramount for companies to consider all the opportunities to digitize their operations.
As digital trends continue to disrupt our ways of doing things, business heads and entrepreneurs are being forced to rethink their business spend management operating models. Thriving in digital reality will require them to integrate top-class transformation tools and solutions, which will help expense management become a valuable strategic business partner in the near future.
Procurement by aXpire: Making Digital Transformation Work For You
aXpire champions its blockchain-based ecosystem that can help businesses build a robust foundation for a simple and cost-effective digital transformation of expense management. aXpire helps in the digitalization of purchasing processes, contracting, sourcing, along with processes for invoices, payments, and vendor management. The aim is to enable businesses to explore new opportunities in the pursuit of creating new revenue streams while reducing cost through improving internal efficiencies. As an example, a bank the size of Citi could cut their compliance staff in half with the use of aXpire’s software, generating $1.2 billion dollars per year in savings. In addition, digital procurement done through aXpire can offer other benefits such as:
- Qualitative Insights: Data-driven optimization of business operations and advanced analytics allows organizations to gain better insights into their business, thus allowing greater cross-domain value-chain interactions.
- Unified View of Spending: Visualizing expenditure data on a single platform, unifying data from across all categories and sources to help finance and procurement departments make quick and sound spending decisions.
- Transform Procurement: Relevant insights with artificial intelligence can help business heads and stakeholders bring relevant changes to expense management for better profits.
- Improved Transparency: aXpire uses blockchain technology, which by design, is a secure log of transactions and value exchanges. It removes intermediaries by being fully digital and increases the transparency in a supply chain with an immutable audit trail.
With an aim to serve both consumers and institutions, aXpire offers different key B2B and B2C applications, with each solution tackling a significant problem. All of its products are powered by the Ethereum-based token AXPR.
Bilr: A timekeeping and billing software launched by aXpire, Bilr allows law firms and attorneys to record their billable work through speech-to-text, timers, and other methods of time-capture. Additionally, Bilr can automatically review invoices for compliance to law firm clients’ guidelines, flagging errors and issues to be fixed prior to invoice submission, improving profitability.
Digital Shares: An asset tokenization platform, Digital Shares enables anyone to tokenize real-world illiquid assets on the Ethereum blockchain, such as real estate or art.
ExpenseCore: A comprehensive software suite focused on expense management, ExpenseCore targets multiple verticals including wealth advisory, insurance, corporate legal, fund administration, and general enterprises with a focus on managing staff and vendor spend.
Disclaimer: This is a sponsored press release, and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.