Accounting
Vital K.S.K. Holdings Corporation
Vital KSK adopts "HUE Classic" as its financial accounting system. The company will respond to changes in the environment associated with business integration with fixed-price maintenance and continuous business improvement.
Over the past decade or so, the pharmaceutical wholesale industry has been undergoing a reorganization of the industry, including mergers and business alliances aimed at reducing costs through economies of scale and strengthening negotiating and marketing power vis-à-vis pharmaceutical manufacturers. VitalNet Corporation and KESK Corporation, which are engaged in the pharmaceutical wholesaling, veterinary wholesaling, dispensing pharmacy, and nursing care businesses, entered into a business alliance agreement in October 2007, and in April 2009, they integrated their businesses to realize further synergies, forming the joint holding company In April 2009, in order to realize further synergies, the two companies integrated their businesses and established a joint holding company, VITAL KESKE HOLDINGS INC. In conjunction with the business integration, in order to strengthen the governance of the entire group and improve operational efficiency, the establishment of a system infrastructure was required along with the integration of each company's operations, and we began to consider a financial accounting system.
HUE Classic" was selected to support early consolidated accounting and prompt management decision making.
While simultaneously selecting a system and reviewing operations, the company selected "HUE Classic" as a financial accounting system that can be integrated based on the following three main factors.
- HUE Classic" is the system platform for the entire group, handling everything from journal processing to processing of non-consolidated and consolidated financial statements and preparation of disclosure documents in a single package, leading to accelerated consolidated financial statements closing.
The ability to grasp information on group companies in real time facilitates prompt decision-making by management. - By using BIPS (*1), a free service provided by Works, it is possible to permanently improve operations by using the past "HUE Classic" operation status of other companies in the same industry and the company as an indicator.
- In response to unpredictable requirement changes in the process of integration, "HUE Classic" can flexibly respond to changes and modifications with its rich standard functions and free version upgrade product concept.
Vital KSC will not only integrate operations through simplification, but will also implement operational improvements while leveraging the strengths of group companies. Through HUE Classic, Works will continue to provide a system infrastructure that keeps pace with the speedily changing business environment.
1 "BIPS (Business Improvement Planning Support)"
This is a free service for client companies using the "HUE Classic" AC series to support the improvement of accounting and financial operations not only at the time of system introduction, but also continuously after the system goes live. HUE Classic" operational data from each company is acquired by Works, and the operational status is analyzed using a proprietary analysis system. By consolidating the operational data into Works, it is possible to not only analyze each company's accounting and finance operations, but also compare them with the operations of other companies. In addition, the consultant in charge of the project will propose operational improvement measures and provide a forum for sharing operational improvements being undertaken within each client company.
Business Model of "HUE Classic"
HUE Classic comes standard with the business functions required by major companies regardless of industry or business type. Therefore, it is possible to handle a series of accounting and financial operations from journal processing to preparation of non-consolidated and consolidated financial statements and disclosure documents in a single package. In addition, through free version upgrades, the standard functions will be constantly expanded in response to changes in the external environment, such as legal revisions, the internal environment, such as changes in systems, business and operational structures, and infrastructure and architecture.
*This article is from June 2014.
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