Now, thanks in part to Concur, beginning earlier this summer, Japanese businesses can now save receipts electronically. Bye-bye old paper copies. Hello Paperless Expense!
Japan finally relaxed e-Bunsho regulations as a result of a special collaboration between the Japanese Government, economic groups, the Liberal Democratic Party of Japan, and Concur Japan. This long-time regulation required Japanese companies to keep paper receipts on hand, even after they had been digitally documented. It was only this summer in 2016 the Japanese government voted to relax the laws about document retention.
As a result of this new change, Japanese businesses will reduce both labor and storage costs by automating and managing receipts digitally. Their business travelers can now take a photo and toss the receipt instead of having to hand deliver paper receipts to the finance department who must first review and then store it.
DID YOU KNOW? AN AVERAGE REDUCTION OF EXPENSE BY 5% = 30% INCREASE IN YOUR BOTTOM LINE
For example, unlike here in the US, many Japanese employees utilize the public trains for commuting. With Concur’s system, companies have reduced the time travelers need to log their travel expenses, increasing productivity and creating a positive effect on the companies’ bottom line.
Concur has a history of taking big risks to bring the best value to its ever growing customer base and Japan is the new exciting frontier. Earlier this month, they hosted the Concur Fusion Exchange in Tokyo, the second such event in Japan. At the exchange, Elena Donio and Masamune Mimura introduced unique innovations specially designed to address the challenges Japan faces when managing travel and expense. Among the challenges is the shift to smart phones for digitizing receipts and moving to the cloud.
This is huge!! The expected savings to Japan’s businesses is somewhere in the neighborhood of $6 billion USD per year. This shift in documentation laws will also make it easier for companies to comply with the law, helping to ensure business continuity.
But wait, there’s more…
Concur also created a new App Center just for Japan to support the open platform for “Perfect Expense”. This App center creates new options for that “Perfect Trip,” Concur’s ecosystem that connects the traveler from planning to booking to travel and expense. New partners in Japan include Line Taxi, Fujisoft, Toppan and Streamed.
Since the initial joint venture, Concur has made significant progress in meeting the needs of a growing number of organizations in Japan and Asia. Concur expects to continue to invest and innovate in Japan and they are looking forward to introducing their customers to the next big benefit. We’re looking forward to telling you all about it in our next webinar. Sign up here to find out when: