Corporate card “UPSIDER” releases functions that significantly automate and streamline operations in compliance with the Electronic Bookkeeping Act and Invoice System
*View in browser* *UPSIDER Co., Ltd.*
Press release: February 7, 2024
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Corporate card “UPSIDER” releases functions that significantly automate and streamline operations in compliance with the Electronic Bookkeeping Act and Invoice System
*Newly automates input work into accounting software, etc. and expands the upper limit of document file size*
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UPSIDER Co., Ltd. (Representative Directors: Toru Miyagi, Tomoki Mizuno, Head Office : Minato-ku, Tokyo, below
Our company has released a new function that significantly automates and streamlines the work required to comply with the Electronic Bookkeeping Act and the Invoice System. *
Complying with the electronic bookkeeping law and invoice system will create a new workload for the accounting department, which is especially busy at the end of the month and at the beginning of the month. By using the various functions of UPSIDER, including the new functions released this time, users will be able to reduce accounting work by three people/day at the end and beginning of the month*.
* If a company with 200 employees and 500 credit card payments per month can reduce the man-hours per payment by 3 minutes.
*Feature release background and details*
Due to the mandatory compliance under the Electronic Bookkeeping Act and the start of the invoice system, companies are required to carry out additional work to comply with these new systems and legal requirements, in addition to the previous work at the end of each month and beginning of the month. did.
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In particular, the work of collecting evidence in order to comply with the Electronic Bookkeeping Act, the work of confirming registration numbers etc. in order to comply with the invoice system, and the work of inputting information into subsequent systems such as the accounting system are taxing. Issues arose, such as having to increase the number of staff during busy periods. *
* Automate input operations into subsequent systems such as accounting systems * As users adapt to the invoice system, the number of items to be entered into subsequent systems such as accounting systems has increased, creating the issue that data that previously could be linked automatically cannot be linked without processing.
* With this release, it is now possible to output information on eligible bill issuers, which is required in subsequent systems, as usage details CSV data. *
This makes it possible to omit data processing work and investigation work for processing, reducing the work burden on accountants. * Increased the upper limit of document file size that can be uploaded to 10MB * UPSIDER is compatible with the Electronic Bookkeeping Act and automatically determines whether the evidence uploaded by the user complies with the requirements of the Electronic Bookkeeping Act. Additionally, to make it easier to collect evidence, we have released a feature that allows you to upload evidence from the management screen, app, chat tools such as Slack, or email.
This time, we have increased the upper limit of the image size of evidence that can be uploaded to UPSIDER to 10MB. This results in * Files such as images, which tend to be large in order to meet the requirements of the Electronic Bookkeeping Act, can now be uploaded and saved as evidence without being bound by system constraints. * *Introducing functions that streamline electronic bookkeeping and invoice system support*
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The number of companies that have adopted our services has already exceeded 35,000*, and we have received many requests for the release of functions that reduce the burden of responding to the Electronic Bookkeeping Act and the invoice system. *
By collecting issues related to user companies’ work related to electronic bookkeeping methods and invoice systems, and providing functions to automate and streamline those tasks, we greatly contribute to improving the efficiency of accounting tasks, especially at the beginning of each month. We believe that this is possible, and have provided multiple functions so far.
We would like to introduce UPSIDER’s functions that streamline users’ handling of electronic ledger storage methods and invoice systems.
*Total number of companies that have introduced the corporate card “UPSIDER” and the business deferred payment service “Payment.com,” as of the end of December 2023.
* Automate evidence collection work*
If you make a payment using UPSIDER and there is evidence such as a receipt that has not been submitted, you will be automatically reminded on a chat tool such as Slack at the specified date and time. Additionally, by replying the voucher file to the reminder message received on Slack, the voucher and payment will be automatically linked on UPSIDER.
With this function, it is possible to completely automate the work that used to require accounting personnel to remind employees to submit evidence at the beginning of each month or every 50th day.
* Automate the process of checking business information such as registration number*
The evidence registered in UPSIDER is processed by AI
OCR reads the registration number, checks whether the business is a qualified invoice issuer, and automatically processes the associated tax classification determination.
It is expected that employees and accountants will be able to carry out their work without being confused by the rules of the new system, and as a result, the time spent responding to inquiries will be reduced.
It is possible to streamline the work of 3 people/day during the busy season at the end and beginning of the month.
By utilizing these functions to automate tasks related to the electronic bookkeeping method and invoice system, for example, in a company with 200 employees, the work of the accounting department, which is busy at the end of the month and at the beginning of the month, can be reduced by three people/day. Masu.
In the future, we will continue to participate in the UPSIDER user community “UPs” and the invitation-only event “UPSIDER’s” inviting listed company users.
Salon”, we will listen to valuable opinions from users and update and release new features with the aim of streamlining back office operations.
*About the corporate card “UPSIDER”*
UPSIDER is a corporate card that solves financial issues such as usage limits and accounting processing. In particular, the usage limit of up to 1 billion yen or more (prepayment / deferred payment), virtual card issuance and management function, and SaaS function that helps speed up accounting processing are popular.*
More than several thousand companies are actively using the service, the continued usage rate is over 99%, and the cumulative payment amount has exceeded 250 billion yen. *
Service page
Additionally, *the number of listed company customers is rapidly increasing*. Not only payment, but also pre-payment procedures such as restricting usage, setting upper limit, and applying for approval before payment.*
Immediate reflection of usage history on the management screen after payment, collection and linking of evidence, linking to approval documents, notification and submission of evidence through Slack integration*
It has been well-received for its comprehensive and wide range of functions, making it possible to safely operate corporate cards. For listed companies where governance and accountability are important, this service can help tighten company-wide expense management, simplify expense settlement operations, and speed up accounting processing.
*About the services we provide*
With the mission of “creating a global financial platform that supports challengers,” our company provides the corporate card “UPSIDER” and the business deferred payment service “Payment.com.” Both services are used by 35,000 companies. exceeds.
“Payment.com”, which targets sole proprietors and corporate
businesses, is jointly operated with Credit Saison Co., Ltd., and allows users to make all bank transfer payments for transactions between companies using their credit cards. This is a payment service. Users can improve their cash flow by extending payments until the day their credit card is deducted. Users do not need to submit any documents, interview, or review.
Payment.com
Additionally, in September 2023, we released a new AI chat-type business tool, “UPSIDER Coworker.” Slack and Microsoft
By linking with chat tools such as Teams, AI and humans automate almost all card-related tasks.
UPSIDER Coworker
Furthermore, we have established a subsidiary, UPSIDER Co., Ltd., to provide financing to venture companies in the growth stage and beyond. Capital” was established in May 2023. In November 2023, we will launch UPSIDER as a joint venture with Mizuho Financial Group, Inc. UPSIDER BLUE DREAM, a debt fund for startups managed by Capital We announced the operation of “Fund”. The first fund, totaling 10 billion yen, will provide an unprecedented debt procurement
environment for growth-stage startups.
View details
From “a company that provides UPSIDER,” a corporate card that supports growing companies, to “creating Japanese companies that can compete in the world and supporting Japan to once again raise its competitiveness.”
We will evolve into an AI-powered comprehensive financial institution*. UPSIDER Co., Ltd.
・Company name: UPSIDER Co., Ltd.
・WEB:
Corporate card “UPSIDER”: https://up-sider.com/
Bill card payment service “Payment.com”: https://shi-harai.com/ AI chat-type business tool “UPSIDER Coworker”:
https://ai-coworker.up-sider.com/
“UPSIDER BLUE DREAM Fund”: https://www.upsidercap.com/
Useful content: https://up-sider.com/media/
・Established: May 2018
・Representative: Toru Miyagi, Tomonori Mizuno
・Capital: 8,794 million yen (including capital reserves, etc.) ・Head office location: 7-15-7 Roppongi, Minato-ku, Tokyo
・Member Association/Certification: Japan Payment Services Association, Security Certification PCI DSS
v3.2.1, JIIMA certification “Electric book law scanner storage software legal requirements certification”
Contact information regarding this matter
Please contact pr@up-sider.com for consultations on implementation, requests for interviews, and collaborations.
*The information contained in this press release is current as of the date of announcement.
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