Revolutionizing Finance Operations: Takeda and EY's AI-Driven Automation Solution

Takeda Pharmaceutical and EY: Transforming Finance with AI

In a groundbreaking collaboration, Takeda Pharmaceutical Company and EY have joined forces to enhance finance operations through the innovative application of AI Optical Character Recognition (AI OCR) and machine learning. This initiative is designed to automate the labor-intensive processes involved in managing fixed asset data entry and judgement tasks requiring specialized accounting and tax knowledge.

The Context of Automation in Finance

The recent surge in demand for efficiency in accounting and tax sectors stems from the challenges presented by manual data entry and complex judgement tasks. Organizations worldwide are facing acute labor shortages and the pressing need for operational streamlining. To address these challenges, Takeda and EY embarked on this pioneering project, aimed at modernizing and standardizing business processes.

The Automation Solution

The core of this collaboration focuses on automating the data entry of quotes required for fixed asset management. Utilizing AI OCR technology, the project aims to eliminate the manual transfer of information from various formats, such as PDFs and paper documents, into Excel spreadsheets. Previously, this manual process consumed over 1,000 hours annually, and the automation is expected to significantly reduce this workload.

The subsequent phase of the project involves the application of machine learning AI to further automate tasks that require accounting and tax expertise. This AI will be trained on historical data, enabling it to accurately determine asset classifications, assess capital expenditures versus repair costs, and suggest appropriate statutory useful lives for assets. This modern approach not only streamlines finance operations but also ensures compliance with accounting standards, which is crucial for accurate financial reporting.

Implementation Timeline

The collaboration between Takeda and EY commenced in May 2025, with Takeda providing the necessary business requirements and training data for machine learning, as well as overseeing the design and development of the automated workflows. Meanwhile, EY facilitated the creation of machine learning models and proof of concept trials, ensuring the system would meet operational needs.

By November 2025, the AI OCR technology is expected to be fully operational, while pilot implementations of machine learning AI will launch in the same month, with complete integration anticipated by April 2026. This timely project not only serves Takeda's needs but sets the stage for potential expansion into international markets, streamlining finance operations globally.

Vision and Goals

Yasuo Zushi, head of Takeda's TBS Finance Solutions in Japan, expressed optimism about the project's impact, stating, "Our commitment to innovation and utilizing data and digital technologies aims to solve workforce challenges in highly specialized fields. This initiative is not just for Takeda, but also a progressive step towards addressing Japan's broader skilled labor shortages."

Rieko Ueda, leader of Tax Technology and Transformation at EY, echoed this sentiment, highlighting the project as an advanced digital solution applicable across end-to-end processes, with future scalability to global operations. She noted that the initiative addresses the pressing challenges of securing and developing professional talent in finance, tax, and accounting.

Commitment to Digital Transformation

Takeda is dedicated to nurturing digital talent, with senior management leading the charge in promoting AI utilization across business processes. Employees are offered opportunities for reskilling and upskilling in data and digital competencies, reinforcing the company’s commitment to digital transformation. This project not only enhances internal efficiencies but also embodies Takeda's mission to improve the quality of life for patients through innovative solutions.

Conclusion

The collaboration between Takeda Pharmaceutical and EY to develop an AI-driven automation solution for fixed asset management marks a significant advancement in finance operations. With a vision towards global expansion and a focus on leveraging technology to enhance productivity, this initiative sets a new standard for efficiency in the pharmaceutical industry and beyond. Asai Takeda continues to lead with innovation, ensuring sustained progress in addressing both operational hurdles and the need for skilled labor in complex financial environments.