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　Works Applications Corporation (Head Office: Chiyoda-ku, Tokyo; CEO: Osamu Hata; hereinafter referred to as "WAP") will officially launch its "HUE Invoice Nomenclature" service on March 1, 2011, which enables easy matching of registration numbers of qualified invoicing businesses for the consumption tax invoice system. In anticipation of the introduction of the invoice system in October 2011, companies are working to verify the registration numbers of their suppliers. This service matches data based on company names and addresses between the supplier list and the list of registered businesses published by the National Tax Agency (name matching), and automatically creates a list with registration numbers. The service is characterized by its ability to match even partial matches of company names and other notations, and can reduce the time required to 1/10 of that required for manual matching (our comparison). Before purchasing, it is possible to use up to 10,000 data items in the free evaluation version to verify the match rate in advance.
　Many companies are using the free evaluation version, which was launched in November 2010, and are considering purchasing the paid version. Some companies have recorded a match rate of 95%, and the high accuracy, the fact that it can be used by subsidiaries, and the fact that it can also be used for data cleansing purposes have been highly evaluated.

About HUE

Invoice Nomenclature HUE Invoice Nomenclature is a service that matches the supplier list held by each company with the registration numbers of qualified businesses issued by the IRS, and automatically generates a supplier list with registration numbers.

Feature (1) "Normalization processing" absorbs any distortions in notation. Up to 95% match rate.
WAP's free open source software "Sudachi" technology enables normalization processing to determine that the same word is used even if there are minor differences in notation (distortions in notation). For example, even if the list of suppliers includes "XX Industries, Inc." and "XX Industries, Inc. The accuracy is significantly improved from a 3% match rate without normalization to 76% with normalization. One company that used the free evaluation version recorded a 95% match rate.

Feature 2: Accuracy evaluation in advance with actual data Unlimited use for one year after purchase
If you purchase HUE Invoice Matching without knowing the actual data matching accuracy, it is possible that many data could not be matched or that the expected cost-effectiveness could not be achieved. HUE Invoice Nomenclature allows you to evaluate the accuracy of the data and confirm the match rate with the actual data before signing the contract. By confirming in advance how much cost-effectiveness can be obtained, gaps after the purchase can be prevented.
In addition, HUE Invoice Name Reconciliation is not a pay-as-you-go service, but a flat-rate billing per year. You can collect numbers at any time during the year and do not need to worry about frequency or data quantity limits. The supplier list can be flexibly maintained according to the spread of the invoice system and the status of registration as a qualified invoicing business.
Companies that have actually used the free evaluation version have commented that "the figures (match rate) are better than expected," "it can be used by subsidiaries," and "it can be used for data cleansing" as evaluation points.

The free evaluation version is intended to confirm the match rate in advance, and does not output the data of the matching results. For output, the paid version must be purchased.

Feature (3) Easy to use, no IT skills required

After issuing an account, simply upload the supplier list data file to HUE Invoice Matching, and the matching process will be automatically performed to create a file with the registration number appended to the supplier list. After that, all you have to do is download the file. No IT skills are required to use the system. Uploaded data is strictly managed by a cloud service that has a proven track record in use by the Japanese government and financial institutions, so there is no need to worry about leaks.

HUE invoice identification product website:

https:

//saas.worksap.co.jp/nayose/2. In response to calls for greater efficiency, the

amount of consumption tax paid by a company is calculated by subtracting the consumption tax on purchases from the consumption tax on sales (credit for purchase tax). After October 2011, companies will no longer be able to claim the credit for consumption taxes on purchases unless they have a qualified invoice issued by a company registered with the National Tax Agency as a qualified invoice issuing business. For this reason, many companies are checking to see if their suppliers are registered as qualified invoicing businesses and obtaining their registration numbers.

　Depending on their size, companies may have thousands or tens of thousands of suppliers. Meanwhile, the number of corporations already registered with the IRS has reached approximately 1.51 million at this point, with the registration rate exceeding 80%. The number is expected to increase further in the future. The matching of supplier lists with the IRS registration lists requires an enormous amount of work, and WAP's approximately 2,200 customers have asked us if we could somehow make it more efficient.

About

Works Applications Works Applications was founded in 1996 as the first ERP package vendor in Japan. With innovative solutions such as no-customization and free version upgrades, Works Applications has supported the growth of its customers, mainly major Japanese companies. Believing in the potential of each individual, we aim to be a "growth engine" that maximizes the value of companies and individuals, and we will continue our pursuit of turning "work" into "creation" and making "work" fun.

*Company names, product names and service names are trademarks or registered trademarks of their respective companies.

*The information in this release is current as of the date of publication, and is subject to change or withdrawal without notice. Please be aware that the forecasts and other forward-looking information in this release are based on uncertainties and may differ from actual results.

For inquiries regarding this article, please contact: Public Relations, Works Applications, Inc. TEL :
03-3512-1400 03-3512-1400
FAX : 03-3512-1401 E-mail: [email protected]