Fast Accounting（5588 TSE Growth）
＋English Summary on This Page
Utilizing AI Technology to Support Automation and Efficiency in Accounting Operations
Fast Accounting specializes in the AI solutions business of automating and streamlining corporate accounting operations. Fast Accounting processes receipts and invoices using AI technologies such as character recognition (AI-OCR) and natural language processing.
Its main customers are accounting software vendors and large companies with net sales of over 50 billion yen, and it provides AI solutions for accounting operations in the form of SaaS. Fast Accounting’s net sales consist of a monthly fee based on system usage and pay-as-you-go charges based on the amount of receipts and invoices processed. The net sales composition ratio for fiscal year ended December 2022 was 93.1% from monthly fees and 5.6% from pay-as-you-go charges, with stock-type sales accounting for the majority.
In the first half of fiscal year ending December 2023, 66% of its net sales were to large companies and 34% to accounting software vendors.
The company offers three services, 1) the Robota series, which is comprised of modular AI functions for reading receipts and invoices, reconciliation and accounting journal entries, 2) Remota, a platform for efficient and remote invoice processing and 3) Peppol access points for sending and receiving data for digital invoices.
Sales channels include direct sales, where the company’s sales personnel engage in sales to large corporate customers, and partner sales are conducted through OEM partners and sales partners. OEM partners are accounting software vendors and RAKUS, which operates an expense management system, is one of the main partners. Sales partners include consulting firms and system integrators that have concluded resale agreements with the company to sell its systems to large companies. In fiscal year ended December 2022, net sales through partner sales, which is the sum of sales through OEM partners and sales through sales partners, accounted for approximately two-thirds of its overall sales.