The upcoming IPO, AXS Group Limited (Proposed ASX code: AXS) is a global software provider which offers unique subscription-based software services to financial sector companies. The objective of the company is to integrate and accelerate the workflow processes of financial and non-financial assets worldwide so as to collapse costs and save real time.
Labelled as a Software-as-a-Service provider, AXS Group can be seen making significant footprints in the provision of the asset processing solution. It offers cloud and on site-based software solutions aimed at digitalisation and automation of asset processing across the financial services industry. The in-house developed software ARMnet demonstrates the company’s flagship product that offers Customer Relationship Management (CRM) solution.
The company has been in existence for more than two decades (under a different group). Initially, established as a provider of a single software package, the company has emerged as an end-to-end solution provider in all asset class.
More than $100 billion in assets and transactions are managed via its SaaS platform globally. The company’s key product ARMnet acts for a significant number of Non-Bank Lenders in the Australian market and enjoys high client retention on its product agnostic and highly scalable solution. It seems the company has no stopping!
With the increasingly complex and large quantum of IT systems, the company has been targeting specific organisations including Bluestone, Paradigm, MaxCap Group, Deutsche Bank Canada, money3, and Pepper Ireland among others. Its retention has been as high as 90% along with securing new major clients, scaling revenue stream.
The core business model of the company strives to achieve the utmost customer satisfaction based on rigorous client engagement process and distinctive software solutions. At first hand, the company engages with the client to understand their current issues, problems and barriers to growth, then redefines its existing business progress against its software to deliver maximum efficiency to their business. The Group also presents a detailed technical and commercial proposal and a clear outline of the associated benefits and Return on Investment before closing the deal.
Its one of the North American clients has experienced 40-60% reduction of manual activity of operations teams, reduced processing time from 4 days to 4 minutes through ARMnet. It is because the software digitises, automates and integrates data flows and many human function touch points to reduce errors and save time.
The company current geographic sales mix includes North America (24%), Australia (42%), Ireland/UK (31%), Asia (3%). Recently, the company has appointed new Head of Sales positions in Canada, UK and Australia to target the large identifiable global market. The company is experiencing an increasing client sales pipeline at various stages across the United Kingdom, Canada, United States of America, Ireland and Australia.
AXS Group confirmed that the business is positioned for rapid growth via an expansion of products and services including the development of smartphone mortgage broker applications.
The market participants can be seen eagerly waiting for the listing of the company on Australian Securities Exchange, scheduled on 28 February 2019. Its Initial Public Offering aims to raise $3 million to $3.5 million at an issue price of $0.25 per share.
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