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【Case Study】Smoothly Replace Your Accounting System Without the Need for Implementation Support, Cost-Effective Global Infrastructure Building / VALUENEX Inc.

VALUENEX Japan Inc.

VALUENEX Japan Inc. which provides big data analysis tools and consulting services for comprehensive analysis and visualization of large volumes of document information, is aiming for global business expansion. However, they believed that their on-premises accounting system could become a hindrance in such efforts. Therefore, the company's U.S. subsidiary, VALUENEX, Inc., made the decision to introduce the cloud-based international accounting and ERP service called "GLASIAOUS" as part of their business engineering (B-EN-G) initiative. With this revamped foundation, they are progressing towards the establishment of a global financial and accounting system.

 

Before
  • The maintenance support for the existing accounting system has ended, and replacement is urgently needed.
  • There was a demand for a system replacement that would keep the initial implementation cost low.
  • A globally operable accounting system that supports multiple languages and currencies is necessary.
After
  • To reduce the initial implementation cost, the company has adopted a method that allows for self-deployment using manuals.
  • The company is building a foundation that can withstand future global operations by implementing a multilingual and multicurrency accounting system.
  • By incorporating an attachment feature for supporting documents, the company achieves a reduction in workload for the approval process.
Why GLASIAOUS
Keywords:Global financial and accounting operations/ multilingual and multicurrency support/ cost reduction in initial implementation/compliance with internal controls and audits

Under the condition of being able to support multiple languages and currencies, as well as being a product capable of withstanding internal control audits by auditing firms and ISMS, the decision was made to implement GLASIAOUS out of nearly 30 accounting software options. Additionally, the company chose the "QuickStart*" method, opting to carry out the implementation and data migration from the old system independently without utilizing implementation support services.

*QuickStart is a packaged service that includes user-friendly documentation, tools for self-configuration during the initial setup, and comprehensive training manuals comprising numerous instructional videos. This service empowers users to carry out the initial setup themselves with the aid of the provided resources.

Interview

The selection process involved choosing an accounting system that not only supports multiple languages and currencies but also includes features to address internal control audits.

VALUENEX
General Manager
Accounting & Finance Dept.

Mr. Tomosato Yamaguchi
The on-premises accounting system that required urgent replacement.

 VALUNEX leverages advanced expertise and technical capabilities in big data analysis to provide consulting services such as IP landscape analysis and strategic business planning. They also offer an overview analysis tool for text data. With a vision for future global business expansion, VALUNEX has established offices not only in Japan but also in Silicon Valley, the hub of the information and communication industry.
 The U.S. subsidiary (VALUENEX, Inc.) faced challenges specifically related to financial and accounting operations. While they were using the same accounting system as the Japan headquarters, the impending end of maintenance support necessitated an urgent replacement.
 According to Mr. Tomosato Yamaguchi, the General Manager of Accounting & Finance Department at VALUENEX, he stated, "Taking this opportunity, we have decided to introduce an accounting system that supports multiple languages and currencies, different from what the Japanese side has, as a step towards establishing a global business framework."
 In the process of selecting the new accounting system, the criteria set were the ability to support multiple languages and currencies, as well as compatibility with internal control audits by auditing firms and ISMS (Information Security Management System). After conducting research on nearly 30 packaged accounting system products, the choice was narrowed down, and ultimately, in December 2020, the decision was made to adopt B-EN-G's "GLASIAOUS" system.


VALUENEX
Senior Staff
Accounting & Finance Dept.

Ms Michiko Umeda
To achieve further cost reduction during the initial implementation, the decision was made to opt for the "QuickStart" method for the system introduction.

 VALUENEX recognizes that GLASIAOUS not only meets the previously mentioned criteria but also offers additional features such as application and approval functions, attachment of supporting documents, CSV import of transaction data with banks, and the ability to drill down from financial statements (aggregated values) to journal entries (detailed values). Furthermore, they highly appreciate the fact that GLASIAOUS has obtained the "SOC (Service Organization Control) Report" issued by an independent auditing firm in accordance with the standards set by the AICPA (American Institute of Certified Public Accountants).
 Mr. Yamaguchi emphasizes, "The functionality to support internal control audits was a crucial requirement. GLASIAOUS stood out as the deciding factor for adoption due to its comprehensive coverage of such features and its competitive pricing compared to other products."
 VALUENEX has chosen the "QuickStart" method, where end-users refer to implementation manuals and other resources to carry out the system adoption themselves, instead of utilizing the initial implementation services provided by B-EN-G, for the implementation of GLASIAOUS.
 Mr. Yamaguchi explains, "It was a timing when we were intensifying cost reduction efforts throughout the company, so there was a desire to minimize the initial costs. In addition, I had previous experience in accounting system replacements both domestically and internationally in my previous position, so I believed I could handle a certain extent of the initial implementation myself."





Despite facing challenges with data migration, VALUENEX managed to achieve a successful implementation through their own efforts.
 

VALUENEX, which decided to adopt the QuickStart method, proceeded with the implementation and configuration of GLASIAOUS based on the provided manuals.
 Mr. Yamaguchi explains, "For particularly critical initial settings, there was a system in place where we could input the required information into the pre-prepared Excel forms and have it automatically reflected in GLASIAOUS. This mechanism allowed us to progress relatively smoothly with the tasks."
 Indeed, it was not without its challenges. VALUENEX attempted to import approximately eight years' worth of historical journal entry data into GLASIAOUS since starting their operations in the United States. However, due to the extensive number of items involved, errors occurred frequently during the process. Despite using the QuickStart method, Mr. Yamaguchi continued the implementation while utilizing the ongoing support from B-EN-G, which was available via email throughout the implementation process.
 Mr. Yamaguchi reflects, "It was challenging to make progress with the migration process using only the available gaps in our regular accounting operations. It took a considerable amount of time to complete the data migration. However, when errors occurred, we were able to address them with the assistance of B-EN-G. They provided us with accurate responses regarding troubleshooting methods and workarounds. Thanks to their support, we were able to overcome this hurdle."

 

By effectively utilizing the document attachment feature, VALUENEX was able to reduce the workload in the approval process.

 

 After completing the implementation and data migration process, GLASIAOUS began its full operation in August 2021, following a two-month parallel operation period.
 Ms. Michiko Umeda from VALUENEX's Accounting & Finance Department shares, "There were some differences in GUI and user experience compared to the previous accounting system, so there was some initial confusion. However, once we became familiar with GLASIAOUS, there were no issues. We can now comfortably view reports such as balance sheets, income statements, and monthly P&L trend tables with responsive performance."
 Another highly regarded feature is the document attachment functionality that was not present in the previous accounting system. Mr. Yamaguchi explains, "In the conventional system, we had to open separate folders to access and visually cross-reference supporting documents with voucher numbers. However, with GLASIAOUS, we no longer have to deal with such cumbersome manual processes. Additionally, the drill-down functionality to detailed data is well-utilized, further reducing the workload in the approval process."
 VALUENEX has high expectations for the utilization of GLASIAOUS as a foundation for strengthening their global presence in the future. Mr. Yamaguchi states, "Currently, we have a two-location structure in Japan and the United States, but we are increasingly globalizing through collaborations with multinational employees and overseas subsidiaries. When this trend further accelerates, GLASIAOUS, which supports seven languages and currencies including Japanese, English, Chinese (traditional/simplified), Thai, Vietnamese, and Indonesian, will be able to demonstrate its true value even more effectively."

 

Client Profile
VALUENEX Japan Inc.


Foundation: 2006
Business: Provide a tool and consulting service that visualizes and analyzes large amounts of data with high accuracy into a single comprehensive overview using our proprietary algorithm.

VALUENEX's big data analytics solution supports various business strategies by providing insights and evidence for the "next move" through comprehensive analysis and visualization of diverse and extensive document information from around the world. Our total solution, which includes the big data analytics tool "VALUENEX Radar" built on our proprietary algorithm and a wealth of experience in consulting services that have addressed numerous management challenges, contributes to the revitalization of industries across a wide range of fields, such as business strategies and research and development.

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