Monex Group Adopted Expense Reimbursement System “AI …
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Media Contact Press Release 1/3 Works Applications Hiromi Kaneda Email：[email protected] Monex Group Adopted Expense Reimbursement System “AI WORKS Expense” Aims to reduce 60% of business operations for each employee in charge Started leading implementation expecting upgrade to “AI WORKS” Suite February 21 st , 2018 Works Applications Co., Ltd. [Translation of press release in Japanese] Works Applications Co., Ltd. (Headquarters: Minato-ku, Tokyo; Representative Director and Chief Executive Officer: Masayuki Makino; hereinafter "WAP") today announced the purchase of “AI WORKS Expense” by Monex Group, Inc. (Headquarters: Minato-ku, Tokyo; Representative Executive Officer, President & Chief Executive Officer: Oki Matsumoto; hereinafter "Monex Group") as its expense reimbursement system. Monex Group has utilized our former products “COMPANY” series for years and decided to implement “AI WORKS Expense” expecting the upgrade to “AI WORKS” Suite. Realize “future accounting operation one step ahead” by reducing 60% of simple tasks Monex Group is a global online financial group for individual investors with TradeStation Securities in the U.S., and Monex Boom Securities (HK) in Hong Kong, in addition to the industry leading Monex in Japan. In celebrating the 20th anniversary from its founding next year, it aims to offer new asset classes and services utilizing cutting-edge technologies such as block chain in order to embody its vision to create “future of finance, staying one step ahead", in addition to enhancement of existing services. Among them, it proposed realization of “future accounting operation, staying one step ahead” aiming for automation of internal simple tasks by utilizing advancing AI and RPA (Robotic Process Automation), etc. and shifting to high-value-added work. A project has been launched for setting up a new expense reimbursement system with an eye toward the efficiency improvement of the expense reimbursement work for all employees. As a result of repeated comparison with various products, Monex Group highly evaluated the product concept of “AI WORKS”. In the concept, “AI WORKS” offers not only functional capacity as a standard package solution corresponding to complicated internal regulations and business customs but also automatic running function and “suggestion” capability based on WAP’s deep insights for business operations and machine learning. Furthermore, in order to obtain higher efficiency of investment, it decided the leading implement of "AI WORKS Expense" expecting to upgrade accounting/finance system to "AI WORKS" Suite in the future. With the use of "AI WORKS Expense", Monex Group estimates a 60% reduction in the workload per person for application and approval of expense reimbursement.
Transcript of Monex Group Adopted Expense Reimbursement System “AI …
Media Contact Press Release 1/3 Works Applications Hiromi Kaneda
Email：[email protected]
Monex Group Adopted Expense Reimbursement System “AI WORKS Expense” Aims to reduce 60% of business operations for each employee in charge
Started leading implementation expecting upgrade to “AI WORKS” Suite
February 21st, 2018
Works Applications Co., Ltd.
[Translation of press release in Japanese]
Works Applications Co., Ltd. (Headquarters: Minato-ku, Tokyo; Representative
Director and Chief Executive Officer: Masayuki Makino; hereinafter "WAP") today
announced the purchase of “AI WORKS Expense” by Monex Group, Inc.
(Headquarters: Minato-ku, Tokyo; Representative Executive Officer, President &
Chief Executive Officer: Oki Matsumoto; hereinafter "Monex Group") as its expense reimbursement
system. Monex Group has utilized our former products “COMPANY” series for years and decided to
implement “AI WORKS Expense” expecting the upgrade to “AI WORKS” Suite.
Realize “future accounting operation one step ahead” by reducing 60% of simple tasks
Monex Group is a global online financial group for individual
investors with TradeStation Securities in the U.S., and Monex
Boom Securities (HK) in Hong Kong, in addition to the industry
leading Monex in Japan. In celebrating the 20th anniversary from
its founding next year, it aims to offer new asset classes and
services utilizing cutting-edge technologies such as block chain in
order to embody its vision to create “future of finance, staying
one step ahead", in addition to enhancement of existing services.
Among them, it proposed realization of “future accounting operation , staying one step ahead” aiming
for automation of internal simple tasks by utilizing advancing AI and RPA (Robotic Process Automation),
etc. and shifting to high-value-added work. A project has been launched for setting up a new expense
reimbursement system with an eye toward the efficiency improvement of the expense reimbursement
work for all employees.
As a result of repeated comparison with various products, Monex Group highly evaluated the product
concept of “AI WORKS”. In the concept, “AI WORKS” offers not only functional capacity as a standard
package solution corresponding to complicated internal regulations and business customs but also
automatic running function and “suggestion” capability based on WAP’s deep insights for business
operations and machine learning. Furthermore, in order to obtain higher efficiency of investment, it
decided the leading implement of "AI WORKS Expense" expecting to upgrade accounting/finance
system to "AI WORKS" Suite in the future. With the use of "AI WORKS Expense", Monex Group
estimates a 60% reduction in the workload per person for application and approval of expense
reimbursement.
Media Contact Press Release 2/3 Works Applications Hiromi Kaneda
Email：[email protected]
Four features of expense reimbursement system “AI WORKS Expense”
1. No more data inputting – intuitive and highly usable operation screen
Necessary information is automatically completed to expense reimbursement application by a capture
of receipt or transportation IC card, or by linking with scheduler/corporate card/reservation websites
for airline ticket, etc. All you have to do to complete expense reimbursement process is reviewing and
selecting the suggestions based on the past application records, therefore complicated inputs are no
longer necessary.
2. Within standard functions - handling complicated internal regulations and business customs
In addition to various payment methods such as petty cash and payroll transfer, “AI WORKS Expense” is
able to accommodate the functionality needs of complicated internal regulations unique to each
company and automatic calculation of allowances based on job titles/departments (Also comply with
Law on Book and Record Keeping through Electronic Methods). Moreover, it enables flexible workflow
in settings according to the type of application, amount of money and etc.
3. Error check time to be cut to “zero” – automating primary check of application contents
“AI WORKS Expense” automates error check of application contents based on the route of
commutation, consistency with internal regulations, and past application records. This will reduce the
burden of approval work and false data and human error will be pursued down to “zero”.
4. Flexible link to core business system – utilizing same infrastructure and offering operational connection
As "AI WORKS" Suite has a wide variety of products from Financial Accounting system to Human
Resources and Payroll system. Thus it can provide rich assortment of functions such as flexible
automatic journal setting, budget link, and personnel information link, considering the following
operations of expense reimbursement work.
"AI WORKS Expense" supports the whole workflow from pre-application, reimbursement application,
approval to settlement in expense reimbursement work.
Media Contact Press Release 3/3 Works Applications Hiromi Kaneda
Email：[email protected]
“AI WORKS”, AI-infused enterprise software solution
“AI WORKS” is an AI-infused enterprise software solution with combines operational functions f it for
enterprises with productivity tools and advanced AI technologies. Grounded in our unique business model,
"AI WORKS" was developed and shaped with operational knowhow accumulated from 1,300 large group
companies during the past 20 years. WAP has been incorporating the functional requirements of a wide
range of industries and business customs to create standardized and Out of the Box functions. Now our
clients no longer struggle with the implementation and maintenance of complicated customisations
regardless of how complicated their business processes may be. "AI WORKS" learns and analyzes a huge
amount of operational log data generated from daily operations with AI (machine learning), and helps each
company's business transforming their operations by offering every employee a personal assistant.
◆ About Monex Group, Inc.
Entity name Monex Group, Inc.
Representative Oki Matsumoto, Representative Executive Officer, President & Chief Executive Officer
Capital 10,393,550 thousand yen
Address 25th Floor, Ark Mori Bldg., 1-12-32 Akasaka, Minato-ku, Tokyo
Business Description Holding Company
Total operating revenue 45,831 million yen (consolidated) *As of March 31, 2017
Corporate website http://www.monexgroup.jp/en/
◆ About Works Applications Co., Ltd.
Entity name Works Applications Co., Ltd.
Founded July, 1996
Representative Masayuki Makino, Chief Executive Officer Takashi Abe, Chief Operating Officer Yoshiro Ishikawa, Chief Technology Officer
Capital 6,126,511,400 yen
Address 19th Floor, Ark Mori Bldg., 1-12-32 Akasaka, Minato-ku, Tokyo
Business Development, sales, and maintenance of the ERP package software "COMPANY" and "AI WORKS" for large enterprises
Sales 50,089 million yen (consolidated) *As of June, 2017
Number of employees 7,599 (consolidated) *As of June, 2017
Corporate website http://www.worksap.com/
