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Self accounting makes prompt management decisions possible / Cloud system helps the company operate under corona disaster / YAMASA ASIA OCEANIA CO., LTD.
YAMASA ASIA OCEANIA CO., LTD.

(Headquarters: Yamasa Soy Sauce Co.)

 

 The Thai subsidiary of Yamasa Soy Sauce Co.(YAO) implemented “GLASIAOUS”, a cloud-based international accounting and ERP service of Business Engineering CO., LTD. (B-EN-G) to improve operational efficiency. The system has enabled YAO to streamline operations such as sales/purchase and inventory management, and also to realize self-accounting (shift to in-house accounting), which has enabled YAO to grasp its financial situation in real time and make prompt management decisions based on the financial statements.

 

Before
  • Sales/purchase and inventory control operations were managed by a Thai local system and Excel, which resulted in many errors and took time and man-hours.

  • Accounting processing was outsourced to an accounting firm, which made it difficult to grasp the company's financial status timely and required the company to change to its own accounting system.

  • The local accounting system could not handle the various transactions unique to the industry and YAO.
After
  • Purchase, arriving, shipping, inventory management, and other order-related tasks has been seamlessly linked on GLASIAOUS, streamlining operations.

  • Realization of self accounting has enabled real-time grasp of financial status and prompt management decision making based on financial statements.

  • The cloud-based system has allowed remote work, contributing to the continuation of business operations under Corona Disaster.

Why GLASIAOUS

Keywords: Easy grasp and management of order and inventory status / Quick response to customer inquiries / Real-time grasp of financial status through self accounting / Improved operational efficiency / Realization of remote work (telecommuting) /  business process standardization / Strengthening of business continuity system

 

The client selected GLASIAOUS based on its ability to prevent human errors that had been occurring as a result of managing accounting and operations by a local accounting system and Excel, its ability to convert accounting work previously outsourced to an accounting firm to in-house accounting (self accounting), and its ability to handle industry and YAO-specific transactions. Support from accounting firms that are members of the GLASIAOUS consortium led to the smooth implementation of the system.

Interview

Improving Efficiency and Accuracy of Sales / Purchase and Inventory Management Operations and Realizing Real-Time Grasping of Financial Information


YAMASA ASIA OCEANIA CO., LTD.
Vice President
Mr. Tatsuru Kitano

Improving the efficiency of operations related to order and inventory management and shifting to in-house accounting was a challenge.

Until now, YAO had been using a Thai accounting system package for various operations. However, operations such as order placement and inventory management had to be managed individually in Excel and entered separately into the accounting system, which placed a heavy workload on the staff in charge and often resulted in errors. In addition, the system did not support transactions specific to the industry and YAO. For example, invoices could only be issued in units of boxes, not in units of bottles, so Excel had to be used in combination.

 

YAO Vice President Ken Kitano said, "Because we had outsourced our accounting to an outside accounting firm, it was difficult to grasp our financial situation in real time, and we were only able to grasp the overall situation when a draft of the financial statements was issued. The accounting firm did not know the inner workings of YAO, so it took time and man-hours to check and correct the bookkeeping. When we asked the accounting firm about bookkeeping details, it usually took one to two days to receive a response. In addition, it also took time for the head office to respond to inquiries, so in order to implement consolidated accounting, which we plan to do in the future, we needed to create an efficient system," he recalls.


BBS (Thailand) Co., Ltd.
Manager, Japan CPA
Mr. Takafumi Yamamoto
Smooth implementation of GLASIAOUS with support from BBS Thailand

YAO asked BBS (Thailand) Co., Ltd., an accounting firm, who is a member of the GLASIAOUS consortium, for business improvement consulting services to resolve these issues. In December 2019, YAO proposed the adoption of GLASIAOUS among several accounting packages. YAO selected GLASIAOUS because it would prevent errors that had occurred due to the individual management of operations in Excel, enable the company to perform its own accounting work (self-accounting), which had been outsourced to an accounting firm, and enable it to handle industry and YAO's unique transactions.

 

 In terms of the industry and YAO specific transactions, the company appreciated the ability to manage production dates and expiration dates by lot, and inventory management by multiple units, such as number of cases, capacity (kiloliters), and bottles. In addition, the fact that the system is compatible with trilateral trade involving the Japanese headquarters, overseas customers, and YAO was a key factor in its adoption. Of course, the ability to support multiple languages and currencies was a prerequisite.

 

The GLASIAOUS implementation project kicked off in January 2020, with YAO and BBS Thailand working together over one to two months to design the system, which went into full operation in May. At the same time, from January to April, BBS Thailand was commissioned to perform the accounting work and bookkeeping on behalf of YAO, and from May, YAO began inputting data (realizing the shift to self-accounting).

 

Mr. Takafumi Yamamoto, Director of BBS Thailand, commented, "We were able to smoothly implement the system because Mr. Kitano had experience managing accounting systems overseas, and we were able to understand YAO's internal situation through our outsourcing accounting services during the development period. We spent a lot of time together with the client to deliberate on what the system should look like, and our efforts in designing the system paid off.


YAMASA ASIA OCEANIA CO., LTD.
Accounting & Administration
Dept.
Manager
Ms. Areerat
YAMASA ASIA OCEANIA CO., LTD.
Accounting & Administration
Dept.
Officer
Mr. Watchara
Real-time monitoring of cash flow contributes to management risk reduction
 

The implementation of GLASIAOUS has enabled YAO to achieve real-time and detailed business management, seamless flow of transaction data to accounting, and overall operational efficiency by taking advantage of its wide range of functions.  Ms. Areerat, the manager of YAO Accountig & Administration Dept. descripts as follows: "We had no particular difficulties in transition. I thought it would take some time to get used to a new system, but GLASIAOUS is easy to use and I was able to get used to it quickly. Depreciation and amortization of fixed assets, foreign currency conversions, and reversal of prepaid expenses used to be calculated manually, but GLASIAOUS calculates them at the touch of a button, which is really convenient." 

 

 Mr. Wachara Swamin, the YAO accountant in charge of these operations, evaluates the effectiveness of GLASIAOUS in shipping arrangements and inventory control as follows: "We can select lots when we process shipments, so when we output a stock report, we can immediately see how many items are left in that lot. We can also see which lot items were sold to which customers, so we can quickly respond to inquiries from customers and sales representatives."

 

 The new system of self-accounting has enabled the company to grasp its financial situation in real time, making it possible to make prompt management decisions based on the financial statements. In particular, we are now able to grasp the current cash flow status of Corona Disaster in real time, which has enabled us to reduce risk and improve efficiency in terms of cash management," said Mr. Kitano.

 

 One of the advantages of GLASIAOUS is that it is a cloud service, which makes it easy to work remotely, whereas before, one had to come to the office to use the system. Mr. Kitano said, "Even with the Corona disaster, we shifted to telecommuting and were able to overcome the difficulties without losing the trust of our customers because we were able to protect the safety of our employees and did not stop shipments. Furthermore, because we were able to train our employees on how to operate online, we were able to remotely teach other members of the team how to do their jobs for backup purposes, allowing us to quickly put in place a business continuity system. As a result, we also have achieved to standard the business process," he says.

 

 In the future, YAO plans to implement a system to create not only a profit and loss statement (PL) for the company as a whole, but also a PL for each business partner and business segment to analyze company performance in detail, including which businesses and customers are benefiting from the system. The system is currently used mainly by the administrative department, but the company hopes to expand its use so that the sales, development, and production departments can utilize the system to conduct the necessary analysis of sales and status by product.

 

 Since the implementation of GLASIAOUS has enabled the head office to view information from overseas offices in a timely manner, we will need to consider a mechanism to link the head office accounting system and GLASIAOUS for the implementation of consolidated accounting. Therefore, we believe it will be necessary to consider a mechanism to link the head office accounting system and GLASIAOUS data in order to implement consolidated accounting. Meanwhile, YAO is looking to BBS Thailand and B-EN-G to provide further support to realize a system that will enable the company to make better decisions by further improving operational efficiency and visualizing its financial status," said Mr. Kitano.

Client Profile
YAMASA ASIA OCEANIA CO., LTD.
https://www.yamasa.co.th/

Foundation: November, 2016
Business: Domestic sales in Thailand and export sales of soy sauce and various seasonings for home and commercial use.

Headquartered in Choshi, Chiba Prefecture and established in 1645, Yamasa Soy Sauce Co., Ltd. is a Thai subsidiary of Yamasa Soy Sauce Co., Ltd. which operates an integrated business from production to sales of soy sauce, various seasonings, and other products. The company was established in response to growing demand in the Asia-Oceania region. While developing products not only made in Japan but also tailored to local tastes, the company is expanding its business in Thailand and other countries in Asia and Oceania.

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