Fujitsu Limited and Mizuho Bank have joined hands to develop a new order and payment processing service aimed at facilitating the sustainable growth of small and medium-sized enterprises (SMEs). The collaboration stems from the shared objective of co-creating next-generation data-driven services. Through this initiative, both companies aspire to create corporate services that leverage data to support value creation and sustainable growth for mid-sized and SMEs.
Before commencing the service development, the companies successfully engineered a technology capable of automatically converting and linking various order data formats used by companies in the distribution industry. This breakthrough has led to a reduction of up to 70% in order processing and reconciliation tasks, previously performed manually. The firms intend to promote this technology to fundamentally digitalize manual operations by integrating and linking disparate order data across different sectors on a single service platform.
This platform is expected to simplify interactions between large enterprises and mid-sized and small and medium-sized enterprises by providing a seamless link between order processing and payment operations. By utilizing the order data for financing, the companies aim to cater to varying funding needs of businesses. The technology eliminates manual input and conversion work and thereby, about 70% of order processing tasks can be streamlined.
Improving order processing and reconciliation tasks is critical for various businesses to boost productivity and competitiveness. While about 30% of inter-company transactions use Electronic Data Interchange (EDI) for order processing, different systems and formats still pose challenges, leading to manual order processing and reconciliation tasks. This new service promises to address this issue by linking payment data with integrated data management.
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