#Japan #AI Technology #Tokyo #Money Forward #Cloud Invoicing

Introduction

Money Forward, Inc. has made a significant enhancement to its cloud invoicing platform, introducing a new AI-driven feature that allows users to upload invoices seamlessly. This innovative function enables the centralization of invoice management, significantly streamlining accounting procedures such as revenue entry and payment matching.

The New Invoice Upload Feature

This cutting-edge functionality allows users to upload invoices that have been created in specified formats by their business partners, such as Excel or Word, and converted to PDF. Once uploaded, the innovative AI technology automatically reads the contents of these invoices and saves the data accordingly. Users can then access various features, such as ‘Invoice Search’ and ‘Accounting Integration,’ just like they would with any regular invoice, thus promoting greater efficiency in handling business-specific invoice formats.

Background for Introduction

According to a user survey conducted by Money Forward, about 40% of businesses utilizing the Money Forward Cloud Invoice system stated that they need to create invoices based on formats specified by their partners. Previously, invoices created in different formats necessitated manual entry into Money Forward Cloud Accounting, leading to potential errors and the hassle of duplicate entries. The new feature addresses these prevalent issues, enabling automated accounting processes for improved accuracy and productivity.

Future Enhancements

Looking ahead, Money Forward plans to implement functionalities that will allow users to send the uploaded files via email and comply with digital storage regulations. By integrating AI to manage diverse invoice data formats, Money Forward aims to enhance operational efficiency across back-office functions.

Key Features of the AI-Powered Functionality

1. AI-OCR Automatic Reading and Data Entry: Users can upload invoices in specific formats. The AI-OCR technology automatically reads the content of the PDFs upon upload, converting it into structured data displayed within the system.

2. Review and Correction of OCR Results: Users can verify the accuracy of the results against the original PDF. If discrepancies are found, data can be adjusted within the Money Forward Cloud Invoice interface. Moreover, these corrections help improve AI reading capabilities over time.

3. Automatic Accounting Integration: Invoice data saved via the upload feature can seamlessly integrate with the Money Forward Cloud Accounting system, automating revenue entries based on the uploaded documents.

4. Centralized Invoice Management: Users can consolidate all invoicing data within a single platform, including any information previously managed outside of Money Forward.

About Money Forward Cloud Invoice

The Money Forward Cloud Invoice platform allows users to create, send, and store invoices efficiently. With just a few clicks of the template and chosen items from entered business partners, invoice creation becomes simple, alongside the convenience of sending through postal mail or PDF email attachments. The system also supports digital invoicing. For more information, visit Money Forward Cloud Invoice.

About Money Forward, Inc.

Founded in May 2012, Money Forward, Inc. is headquartered at 3-1-21 Shibaura, Minato-ku, Tokyo. The company is led by CEO Yosuke Tsuji and specializes in platform service offerings. To learn more about their services, visit Money Forward Corporate.