Fast Accounting

Basic Information

Stock Code
5588
Industry
Information and Communications
Category Detail
Systems & Software
Prefecture
Tokyo
Establishment Year
June 2016
Listing Year
September 2023
Official Website
https://www.fastaccounting.jp/
TSE Information
TSE Information
Yahoo! Finance
Yahoo! Finance
Other Companies
Information Strategy Tech, Proship, eBase, Avantage Group, Money Forward, Freee, Oracle Japan, Obic Business Consultants, eWell, Aidoma HD, PCA, TKC, Miroku Information Service

Overview

Fast Accounting is a leading domestic SaaS company founded in 2016 that provides accounting operation efficiency services utilizing AI technology.

Current Situation

Fast Accounting listed on the Tokyo Stock Exchange Growth Market in 2023 and is increasing its presence in the rapidly growing AI accounting solutions market. Its flagship 'Robota' series and 'Remota' platform realize advanced automation of accounting tasks such as AI-OCR and automated journal entries, and are adopted by diverse large enterprises and accounting vendors. It is also actively conducting research on the latest generative AI and large language model technologies, with expectations for enhanced service competitiveness going forward. Additionally, it has been certified by the Digital Agency as a provider of Peppol access point services for digital invoices, contributing to national DX initiatives. With approximately 100 employees, it maintains high technological prowess in a compact organization and differentiates itself from industry competitors through specialized technology. In the medium to long term, it aims to expand generative AI applications and further streamline accounting operations, seeking to grow market share and strengthen its revenue base in expanding markets. Paid-in capital is approximately 360 million yen, with around 10.72 million issued shares, offering substantial growth potential as an emerging market company.

Trivia

Interesting Facts

  • Listed on Tokyo Stock Exchange Growth Market just 7 years after founding
  • Among top domestic AI technology companies specialized in accounting
  • Official Digital Agency-certified Peppol service provider
  • Won Grand Prize at FinTech Awards 2019
  • Publishes research papers on generative AI technology
  • Head office initially located in Shinjuku-ku, Tokyo
  • Paid-in capital of approx. 360 million yen, solid for a startup
  • Around 100 employees including full-time and contract
  • Pioneering company in early remote accounting support
  • Technology collaborations with numerous accounting vendors

Hidden Connections

  • Built partnership with Mitsubishi UFJ Group through Mizuho Innovation Award win
  • Competes with major players like Oracle Japan and Money Forward while engaging in technology exchanges
  • Award-winning FinTech technology attracting attention from numerous financial institutions
  • Peppol is a European-originated electronic invoicing framework, with the company promoting adoption in Japan
  • Company's AI solutions contribute to DX advancement in accounting firms
  • Relocated head office to Shiba Park in 2024 for expansion
  • Company's AI technology indirectly used in business automation by major Japanese audit firms
  • Successfully secured growth funding through third-party allotment from venture capital

Future Outlook

Growth Drivers

  • Rapid evolution of AI and generative AI technologies
  • Expansion of digital invoice system applicability
  • Increased demand from post-COVID telework prevalence
  • Acceleration of DX in domestic mid-sized and small enterprises
  • Further penetration of cloud services
  • New demand creation through strengthened financial institution collaborations
  • Growing needs for accounting automation
  • Demand for digitization compliance with strengthening regulations
  • Market diversification through overseas expansion
  • New service development leveraging AI technology

Strategic Goals

  • Achieve top domestic market share in accounting automation
  • Complete next-generation platform utilizing generative AI
  • Reach 90%+ digital invoice compatibility rate
  • Expand service deployment in overseas markets
  • Achieve annual sales over 10 billion yen
  • Expand to 300 employees
  • Contribute to sustainable society and strengthen governance
  • Enrich product lineup for diverse industry needs
  • Continuously improve customer satisfaction
  • Thoroughly advance AI ethics and information security

Business Segments

Accounting Efficiency Services for Large Enterprises

Overview
Enterprise services that highly automate and streamline large company accounting operations using AI technology.
Competitiveness
High specialization through combination of specialized AI technology and platforms.
Customers
  • Large Manufacturers
  • Large Retailers
  • Large Financial Institutions
  • Accounting Firms
  • IT Companies
  • Public Institutions
  • Medium-Sized Enterprises
  • Accounting Software Vendors
  • Audit Firms
  • Consulting Firms
Products
  • Robota AI-OCR Module
  • Remota Accounting Platform
  • Journal Entry Inference AI
  • Digital Invoice Transmission/Reception Service
  • Custom Automation Solutions
  • API Integration Services
  • Cloud Accounting Automation Tools
  • Remote Accounting Support Services
  • AI-Based Invoice Processing
  • Accounting Operation Analysis Reports

OEM and API Provision for Accounting Software and System Vendors

Overview
Services providing AI technology to external vendors to support integration into their products.
Competitiveness
Highly accurate AI technology and extensible APIs are highly regarded.
Customers
  • Accounting Software Developers
  • ERP Vendors
  • Cloud SaaS Providers
  • System Integrators
  • Business System Consultants
  • Financial System Vendors
  • Industry-Specific IT Service Companies
  • Digital Transformation Companies
  • SME Support Services
  • Technology Partners
Products
  • AI Journal Entry Inference API
  • OCR Text Recognition Engine
  • Accounting Automation Modules
  • API Integration and Customization Support
  • Cloud Integration Solutions
  • Data Analysis Tools
  • Consulting Services
  • Technical Support and Training
  • Contract-Based OEM Products
  • Update Services

Cloud Accounting Support for SMEs

Overview
Affordable cloud-based accounting automation services tailored for SMEs.
Competitiveness
Excellent usability and cost-performance with numerous implementations.
Customers
  • SME Owners
  • Sole Proprietors
  • Startups
  • Accounting and Tax Agencies
  • Freelancers
  • Small Businesses
  • Chamber of Commerce Member Companies
  • Regional Economic Organizations
  • SME Support Organizations
  • Industry Associations
Products
  • Simplified Accounting AI Tools
  • Accounting Automation Packages
  • Invoice Management Services
  • Expense Settlement Cloud
  • Smart Reporting
  • Mobile Accounting Apps
  • Monthly Closing Support Tools
  • Invoice-Compatible Features
  • Online Support
  • Training and Seminar Services

Fintech Integration Services for Financial Institutions

Overview
AI services for accounting and integration to support financial institution operation efficiency.
Competitiveness
Advanced data processing capabilities tailored to financial industry needs.
Customers
  • Banks
  • Credit Unions
  • Trust Banks
  • Securities Firms
  • Insurance Companies
  • Asset Management Companies
  • Fintech Companies
  • Financial Service Providers
  • Payment Service Providers
  • Credit Information Agencies
Products
  • Accounting Data Integration API
  • AI Credit Risk Analysis Tools
  • Transaction Data Auto-Analysis
  • Cash Flow Management Support
  • Payment and Deposit/Withdrawal Matching Services
  • Automated Journal Entry Integration
  • Customer Accounting Solutions
  • Enhanced Security Features
  • Regulatory Compliance Automation Tools
  • Report Generation Services

AI Accounting Support for Public and Government Agencies

Overview
Accounting support services emphasizing transparency and accuracy specialized for the public sector.
Competitiveness
Strength in strict regulatory compliance and high security standards.
Customers
  • National Government Agencies
  • Local Governments
  • Public Organizations
  • Public Interest Corporations
  • School Corporations
  • Medical Institutions
  • Social Welfare Corporations
  • Research Institutions
  • Disaster Prevention Organizations
  • Transportation Operators
Products
  • Public Fund Management AI Systems
  • Electronic Book Storage Compliant Modules
  • Budget Management Automation Tools
  • Income/Expense Report AI Support
  • Document Recognition OCR Modules
  • Reporting Services
  • Expense Settlement Automation Systems
  • Audit Support Features
  • Access Control and Log Management
  • Cloud Operation Environments

Education and Training Programs

Overview
Wide-ranging education and training programs for AI accounting services to promote operation efficiency.
Competitiveness
Highly rated for practical curricula and abundant case studies.
Customers
  • Corporate Training Departments
  • Accountant and Tax Accountant Training Schools
  • IT Vocational Schools
  • Accounting Staff
  • Corporate Customers
  • Industry Groups
  • Educational Institutions
  • Online Learners
  • Staffing Agencies
  • Human Resource Development Consultants
Products
  • AI Accounting Practical Courses
  • Robota Implementation Training
  • Online Seminars
  • e-Learning Tools
  • Customized Training
  • Qualification Support
  • Update Training
  • Case Study Provision
  • Business Improvement Workshops
  • Technology Trend Explanation Sessions

Customer Support and Consulting

Overview
Dedicated support and accounting operation improvement consulting focused on enhancing customer satisfaction.
Competitiveness
Comprehensive support system by staff with abundant expertise.
Customers
  • Accounting Staff
  • Large Enterprise Departments
  • SME Owners
  • Accounting Software Users
  • Accounting Firms
  • IT Support Departments
  • Financial Consultants
  • Project Managers
  • Service User Companies
  • External Partners
Products
  • System Implementation Support
  • Business Flow Optimization Consulting
  • Troubleshooting
  • Technical Support Desk
  • Operation Improvement Proposals
  • Regular Maintenance
  • User Training
  • Data Analysis Support
  • Update Support
  • FAQ and Manual Provision

Service Expansion for Overseas Bases

Overview
AI services for overseas expansion to seamlessly streamline domestic and international accounting operations.
Competitiveness
High customizability and international standards compliance know-how.
Customers
  • Overseas Subsidiary Accounting Departments
  • Japanese Global Companies
  • International Accounting Firms
  • Local Corporations
  • Overseas Accounting Vendors
  • Overseas Trading Companies
  • Import/Export Companies
  • Overseas Financial Institutions
  • Multinational Companies
  • Currency Conversion Staff
Products
  • Multilingual AI Journal Entry Tools
  • Cloud-Based Accounting Services
  • Overseas Regulation Compliance Features
  • International Ledger Matching Systems
  • Automated Currency Conversion AI
  • Overseas Remittance and Payment Integration
  • Overseas Base-Specific Report Generation
  • Digital Invoice Compliance
  • Local Legal Compliance Features
  • Remote Implementation Support

Alliance and Partner Programs

Overview
Promotes collaboration with external companies to accelerate market expansion and technological innovation.
Competitiveness
Flexible collaboration schemes and high technology sharing.
Customers
  • IT Vendors
  • Accounting Software Developers
  • System Integrators
  • Cloud Service Providers
  • Venture Companies
  • Consulting Companies
  • Technology Partners
  • Sales Agents
  • Joint Service Developers
  • Marketing Partners
Products
  • OEM Supply AI Modules
  • Joint Development Projects
  • Technology Sharing Platforms
  • Marketing Support Services
  • Training and Education Programs
  • Certified Partner Programs
  • Contract Development Services
  • API Provision Platforms
  • Consulting Collaboration
  • Sales Support

Digital Invoice Specialized Services

Overview
Comprehensive support centered on nationally certified digital invoice transmission and reception services.
Competitiveness
Reliability from Digital Agency certification and high extensibility.
Customers
  • General Corporate Enterprises
  • Accounting Firms
  • Government Agencies
  • Financial Institutions
  • Manufacturing
  • Logistics
  • Retail
  • Services
  • IT Companies
  • SMEs
Products
  • Peppol-Compatible Invoice Transmission/Reception
  • Invoice Digitization Support
  • Electronic Book Storage Law Compliance
  • Invoice Management Dashboard
  • API Integration Services
  • Enhanced Security Features
  • Audit Log Management
  • Customer Support
  • Real-Time Reporting Functions
  • Usage Analysis Reports

AI Technology Research and Development Division

Overview
Specialized division researching industry-leading AI technologies and applying them to services.
Competitiveness
Advanced technological capabilities backed by papers and patents.
Customers
  • Internal Development Teams
  • Partner Vendors
  • Universities and Research Institutions
  • Technology Alliance Partners
  • R&D Related Companies
  • Development Communities
  • Patent Offices
  • Venture Capital
  • Third-Party Evaluation Agencies
  • Technical Advisors
Products
  • Generative AI Application Technology
  • Large Language Model Research
  • AI-OCR Accuracy Improvements
  • Journal Entry Inference Algorithm Enhancements
  • Natural Language Processing Modules
  • Image Recognition Technology Development
  • Data Analysis Tools
  • Custom AI Solutions
  • Research Paper Publications
  • Technology Patent Acquisitions

Accounting Outsourcing Support

Overview
AI tools and consulting to support operation efficiency for outsourcing providers.
Competitiveness
Accounting-specialized automation know-how and flexible customizability.
Customers
  • Accounting Proxy Companies
  • Accounting Firms
  • SMEs
  • Tax Accountant Corporations
  • Consulting Companies
  • In-House Accounting Staff
  • IT Help Desks
  • Accounting Training Institutions
  • Staffing Companies
  • BPO Providers
Products
  • Accounting Automation Tools
  • AI Journal Entry Services
  • Data Entry Support Systems
  • Business Visualization Tools
  • Remote Accounting Support Systems
  • Automated Report Generation
  • Cloud Integration Services
  • Customer Management Tools
  • Work Efficiency Analysis
  • Training Programs

Competitive Advantage

Strengths

  • Advanced AI technology specialized in accounting
  • Latest generative AI research and practical application
  • Reliability from Digital Agency certification
  • Flexible response to diverse industry needs
  • Rapid development in a compact organization
  • Abundant patents and technical know-how
  • Cloud platform provision capabilities
  • Strong B2B partnerships
  • Broad customer base coverage
  • Remote accounting support services
  • Extensibility via API integration
  • Fast time-to-market
  • High user satisfaction
  • Expertise in domestic accounting operations
  • Reliable regulatory compliance

Competitive Advantages

  • High-precision AI engines specialized in accounting
  • Official certification as Peppol access point
  • Advanced service development incorporating generative AI
  • Platform integrating diverse accounting modules
  • Enhanced funding and credibility through listing
  • Customization capabilities aligned with customer needs
  • Proven track record with major domestic enterprises
  • Rapid technology update cycles
  • Robust partner ecosystem development
  • Support system by experts
  • Differentiated product lineup in the industry
  • Remote accounting operation capabilities
  • Patent acquisition and utilization of AI technology
  • Alignment with national DX policies
  • Compatibility with diverse cloud environments

Threats

  • Intensifying market competition from competitors' AI advancements
  • Frequent changes in laws and accounting standards
  • Risk of entry by major IT companies into accounting
  • Increasing information security risks
  • Rapid shifts in user needs
  • IT investment restraint trends during economic downturns
  • Delays in technological maturity of AI-related tech
  • Rise of innovative services from emerging ventures
  • Risks dependent on cloud services
  • Intensified talent acquisition competition
  • Cyberattack and data breach risks
  • Delays in digital invoice system implementation

Innovations

2024: Enhancement of Accounting Platform Using Generative AI

Overview
Applied large language models to improve automatic interpretation and inference capabilities for accounting documents.
Impact
Significantly boosts accuracy and efficiency of accounting automation.

2023: Expansion of Peppol Access Point Services

Overview
Expanded functions and stabilized operations for Digital Agency-certified invoice transmission and reception.
Impact
Supports customer compliance with electronic book storage laws, increasing adoptions.

2022: Major Improvement in AI-OCR Recognition Accuracy

Overview
Successfully improved text recognition accuracy using deep learning, also enhancing processing speed.
Impact
Reduces customer accounting input workload and improves satisfaction.

2021: Launch of Remote Accounting Support Platform Remota

Overview
Developed cloud platform enabling accounting operations regardless of location.
Impact
Responds to surging telework needs and acquires new customers.

2020: Patent Acquisition for AI Journal Entry Inference Algorithm

Overview
Acquired patent for automated journal entry inference technology, establishing technological superiority.
Impact
Strengthens differentiation from competitors and effectively utilizes in sales.

Sustainability

  • Promoting paperless operations internally
  • Reducing environmental impact through cloud utilization
  • Advancing work-style reforms and telework
  • Educational support through collaboration with local communities
  • Thorough information protection via enhanced security