#Japan #Tokyo #StoreRecord #Bizgem #Retail Accounting

Bizgem Introduces New Multi-Currency Features in StoreRecord

Bizgem, a cutting-edge SaaS provider based in Bunkyo-ku, Tokyo, has launched groundbreaking functionalities in its management data integration platform, StoreRecord. This update focuses on enhancing the operational efficiency of retail companies by introducing multi-currency registration and sophisticated cost allocation strategies for imported goods.

New Features Explained

With the recent updates, StoreRecord enables businesses to register currencies like USD, EUR, and CNY, allowing seamless foreign exchange management. Furthermore, it links import costs such as customs duties, import consumption tax, and international shipping expenses directly to the corresponding Invoice No. This allows for precise allocation according to SKU (Stock Keeping Unit), significantly reducing the workload involved in accounting operations associated with international procurement.

1. Exchange Rate Management by Invoice

Companies can now apply variable exchange rates per invoice. This feature allows for a more accurate portrayal of average purchasing costs per SKU, directly impacting the cost of sales reported.

2. Registration and Automatic Allocation of Import Costs

The system automatically calculates and registers import costs, distributing them based on the total product amount across individual SKUs. This ensures that all necessary costs are accurately reflected and factored into sale prices, improving profitability understanding.

3. CSV Export of Historical Delivery Data

Users can easily export historical transactional data concerning currency, exchange rates, customs duties, and international shipping costs. This feature provides valuable insights into past performance, helping businesses make informed decisions for the future.

4. Flexible Cost Breakdown Entries

StoreRecord gives users the flexibility to input detailed breakdowns of costs associated with each SKU. This includes expenses like inspection fees and brand tags, allowing businesses to maintain granular control over their cost calculations.

Supporting Monthly Closing Processes

Despite the abundance of features, many businesses struggle with establishing effective monthly closing processes, particularly for overseas imports and inventory management. Bizgem offers consulting services to help organizations design efficient operational workflows using StoreRecord, tailored to their specific challenges.

By assessing individual operations, Bizgem aims to assist organizations in achieving timely monthly closures, whether they currently lack this functionality or face issues with variable gross profit margins that impact decision-making.

What is StoreRecord?

StoreRecord is a state-of-the-art SaaS solution designed for retail companies, enabling them to manage essential business metrics like revenue, expenses, procurement, and inventory all in one place. The platform enhances visibility into key performance indicators via dashboards, while supporting data integration through CSV and API, moving businesses away from cumbersome Excel methods.

Company Overview

Founded in December 2022, Bizgem has quickly positioned itself as a leader in SaaS solutions for retail accounting. With a dedicated team under CEO Kotaro Higuchi, Bizgem aims to enhance operational efficiency for its clients.

About the CEO

Kotaro Higuchi graduated from Keio University and has an extensive background in business. After working at Itochu Corporation, he co-founded Unistyle, which focuses on career support for students. His later ventures included significant roles in retail and D2C sectors, contributing to remarkable growth in revenue and profitability. His leadership at Bizgem reflects his committed vision for streamlining retail operations through technology.

For inquiries about StoreRecord, visit StoreRecord Service or email at [email protected].