Accounting
tonami holdings co.
Major transportation company, Tonami HD, adopts "HUE Classic" as its integrated group accounting system and builds a solid foundation to comply with IFRS, its moving target.
Tonami HD, based in Toyama Prefecture and with group operations throughout Japan, is comprised of approximately 30 companies, mainly engaged in logistics-related businesses, including Tonami Transportation. In recent years, the company has actively promoted reforms such as the shift to a holding company, merger, reorganization and establishment of subsidiaries, and has faced a dizzying change in its business environment.
Through these trends, Tonami HD, which now owns a diverse range of companies in multiple industries, has decided to establish a new integrated group accounting system to consolidate and manage information in a controlled manner for the entire group, to reduce the workload associated with consolidated accounting settlement and accounting audits, and to comply with IFRS. The integrated system will enable us to process consolidated financial statements and disclosure.
Visualization of group financial information by streamlining consolidated accounting and disclosure processes through the integrated system
In selecting a new system, HUE Classic was selected because of its ability to handle the accounting operations of each HD company with standard functions and its ability to realize a series of accounting operations from non-consolidated to consolidated accounting and disclosure in a single package.
The benefits of introducing HUE Classic include a reduction in the number of man-hours required for closing accounts and audits, and the realization of group management accounting by using "HUE Classic" as an integrated platform. Another point of evaluation was the fact that HUE Classic is the No. 1 ERP package(*) produced in Japan, has customers nationwide, and provides ongoing maintenance support.
(*) 2010 ERP license sales share for major companies (annual sales of 100 billion yen or more) (based on prices passed on to end users) Source: Yano Research Institute Ltd.
Building a solid foundation for compliance with IFRS
Tonami HD is also considering compliance with IFRS, which is also known as a moving target due to the anticipated frequency of revisions, and is placing importance on system scalability and flexibility in the future. Works has a product concept of "free version upgrades" that follow changes in the environment, such as legal revisions including IFRS, internal systems, and infrastructure, without additional costs, and will permanently provide the latest system that will not become obsolete. Through this kind of support that goes beyond system implementation, we will continue to help major companies improve their business operations and information investment efficiency through HUE Classic.
Features of the "HUE Classic" AC Series Integrated Accounting System
While companies generally use both a regular accounting system and a consolidation system when consolidating their accounts, the "HUE Classic" AC series is characterized by the fact that both systems are implemented within the same package. This seamlessly automates the reclassification of accounts for each company subject to consolidation and eliminates the complexity of each process during the aggregation process, such as the elimination of internal transactions.
In addition, the disclosure support function covers the preparation of consolidated disclosure documents and various forms, making it a one-stop solution for streamlining a series of operations from non-consolidated and consolidated financial statements to disclosure. By utilizing "HUE Classic" as a foundation for group management accounting, management indicators can be analyzed from multiple perspectives on a consolidated basis, and this information can be utilized in a timely manner for strategic management planning.
In addition, HUE Classic provides a wide range of functions related to corporate accounting operations, such as asset management and cash management, to provide comprehensive support for improving the efficiency of client operations and maximizing the effectiveness of their investments.
*This article is current as of June 2011.
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