Nomura Real Estate Streamlines Expense Reports with AI Technology

The Future of Expense Management: AI at Nomura Real Estate

Nomura Real Estate Holdings, headquartered in Minato, Tokyo, has made significant strides in enhancing the efficiency of its expense management system through the implementation of Techtouch AI Hub. This innovative solution allows for real-time processing and analysis of various tax classifications within expense claims, drastically improving operational productivity and reducing the likelihood of human error.

Background of the Initiative

In response to the ever-growing demands of digital transformation, Nomura Real Estate Group has launched the "DX Declaration," which emphasizes the enhancement of organizational agility and growth. With over 90% of corporate card usage among employees, the group had already taken steps toward digitalizing and streamlining expense reports. However, challenges remained, particularly with claims necessitating manual verification of receipts. Employees faced complex tasks, including determining applicable tax rates and confirming eligibility based on proper business registration numbers. This increased the potential for errors, leading to frustrating delays and rejections of claims.

Why Techtouch AI Hub Was Chosen

To address these challenges without overhauling their existing systems, the Techtouch AI Hub was selected for its capability to seamlessly integrate AI directly into operational frameworks. The solution stands out for its ability to carry out real-time assessments of complex tasks, enhancing speed and ensuring accuracy.

1. Real-Time AI Judgments Prevent Mistakes
The AI-OCR technology asynchronously analyzes uploaded receipts, allowing for automatic confirmation of business eligibility and clarification of expense details. Not only does this promote speed, but it also minimizes workload associated with manual checks.

2. Custom AI with Existing Rules
Techtouch AI Hub adapts to each company's specific regulations, enabling easy integration without disrupting existing workflows. This feature has proven vital in generating substantial outcomes in terms of efficiency and accuracy.

Anticipated Benefits

The strategic adoption of AI-driven checks is expected to dramatically ease the administrative load for both applicants and approvers. For instance, the expected reduction of assertion errors across approximately 170,000 annual claims with attached receipts could potentially save around 4,000 hours of operations each year. Additionally, by integrating AI seamlessly into daily operations, staff can enjoy the advantages of technology without extensive retraining, thus accelerating the embrace and normalization of AI in their workflows.

Commentary from Nomura Real Estate Holdings

According to Mr. Kobara from Nomura Real Estate Holdings, the key focus has been to alleviate employee burdens while increasing productivity during the transition towards compliant invoicing processes and enhanced expense management. The former complexity involved in handling varied tax classifications stemming from a single receipt posed significant challenges, and the implementation of Techtouch AI Hub promises to simplify these tasks without altering the functionality of the existing expense management system, "Concur."
He noted, "By having AI interpret receipt details, employees will be guided to process claims accurately and efficiently, allowing more time for high-value activities."

Overview of Nomura Real Estate Holdings

As a leading real estate holding company, Nomura Real Estate Group engages in the development and management of residential, commercial, and logistics properties. The organization is committed to innovating housing solutions through brands like "PROUD" while promoting digital experiences to facilitate sustainable practices.

Techtouch AI Hub: Redefining Business Operations

Techtouch AI Hub functions as an AI infrastructure that embeds intelligence into existing systems, enabling natural AI use in daily business operations. Providing features such as AI chat functionality, data input support, regulation checks, and automation, this platform serves as a centralized hub for a myriad of corporate AI integration initiatives.

About Techtouch Inc.

Techtouch Inc. is the leader in Digital Adoption Platforms (DAP) in Japan, offering solutions that maximize usage efficiency of various business systems by providing real-time navigation and support. With their newly launched Techtouch AI Hub, they are pioneering the AI transformation journey for businesses. Having gained recognition from numerous sectors including large corporations and government agencies, Techtouch continues to influence workplace efficiency significantly.

For further information, visit Techtouch's website.