A streamlined leasing process helps Axonom secure a significant new business opportunity.
• Known for its Powertrak software, the leading B2B configure-price-quote (CPQ) and visual product configurator solution suite with AR and VR experiences.
• Provides cloud-based quoting, ordering and configuration solutions for the high-tech, manufacturing and services industries.
• Headquartered in Eden Prairie, Minnesota.
Axonom is an innovative augmented/virtual reality (AR/VR)-powered SaaS company that provides configure-price-quote (CPQ) capabilities in a visual format. Axonom enables its clients to wow prospective buyers with a virtual representation of real-world environments, in which a buyer can visualize customizations in the hardware or equipment setup they’re interested in. With its Powertrak CPQsoftware, Axonom enables sellers to create near-realistic 3D representations of anything, from sophisticated indoor data center setups to outdoor construction sites equipped with heavy machinery. Naturally, such true-to-life 3D graphics require considerable computing power.
Last year, Axonom had the opportunity to win a new customer, a recent IPO high-tech manufacturer experiencing rapid growth in data center technologies. This would be a significant new business relationship. Winning this client meant Axonom had a time-sensitive need to hire and equip the resources required to handle the substantial requirements of this exciting opportunity.
“Our new client has a large number of sales reps all over the United States, and they were searching for a solution to help them sell customized data centers,”recalls Michael Bauer, Director of Marketing at Axonom. "The company wanted its customers to customize server racks in various settings, visualize the rack design in 3D and then experience the entire layout design in virtual reality. There are a lot of rules that go into the interior configuration of a powerful data center. For example, a heat-emitting component cannot be placed next to another heat-emitting component.”
Meeting these sophisticated, graphics heavy requirements compelled Axonom to quickly expand their computing capacity. To that end, Axonom had to hire more people and equip its development staff with high performance laptops. In addition, the company needed to augment its data security systems by purchasing and deploying a best-of-breed firewall and load balancer. While Axonom had been quite satisfied with their existing leasing arrangement from their hardware supplier, this time they decided to go with Wheeler Financial from Pitney Bowes™.
• Equipment Financing Through Wheeler Financial from Pitney Bowes™
Wheeler Financial acted quickly to support Axonom, a growing business, with the financing needed to secure a large prospect and revenue opportunity. What’s more, all of Axonom’s departments — from accounting and IT to sales and marketing — were pleased to have a financing partnership that could meet the timeline their new client required.
“Indeed, for any future projects that demand a fast turnaround we are very likely to turn again to Wheeler Financial,” Bauer says, “considering how well received we felt and the promptness of the application process itself. All of it enabled the timely delivery of the machines we needed to execute this project. The successful outcome, along with the reasonable pricing, bodes well for continuing this cooperation. A lot of us have been very positively affected by the relationship with Wheeler Financial. I think we're set up in a good spot, near term and long term.”
With the backing of a dependable financing partner, Axonom is eagerly embracing new opportunities. “The successful execution of this important project has given us an exhilarating confidence boost. We are now safe in the knowledge that our software can scale to allow large numbers of products to be represented simultaneously in one virtual scene. As a result, we already have other similarly large projects in the pipeline. Having the new machines readily available will help us to successfully execute these new projects and, as a result, to win more new clients.”
“What initially attracted us to Wheeler Financial was the time-saving, simple and smooth application process,” says Bauer. “Another consideration was our own accounting department. They prefer more convenient alternatives to one-time large payments. So, we needed to find a quick way to spread out the lease payments for our new hardware across 36 months at a reasonable pricing structure.”
The minimal amount of paperwork involved and the fast, streamlined leasing process were exactly what Axonom needed to meet the very tight delivery date favored by their new client. In doing so, they cemented a valuable business relationship, and secured an important new revenue stream. The entire leasing process with Wheeler Financial, from the application to the delivery agreement and receiving the funding, took about one month from start to finish.
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