About Suntory Holdings Limited
Under a spirit of “In Harmony with People and Nature”, together with a commitment to bring the highest level of quality to all its products, the Suntory Group seeks to contribute to lifestyle and cultural development on a global scale. Its aspiration is clear—“Toward Making Suntory a Truly Valuable Global Corporate Group”—and, toward this end, management is currently advancing a broad range of activities centering on alcoholic and non-alcoholic beverages in such regions as Japan and greater Asia, the Americas, Europe and Oceania. Global advancement means more than simply providing the same high-quality products everywhere. Also required are a drive for constant improvement, the time and effort to not only assure product safety but also to provide satisfying, high-quality eating/drinking experiences through unrelenting attention to such details as appearance, aroma and even container convenience. And here, the Suntory Group continues in its quest to create value through the development and marketing of new, high-quality offerings.
Business field: food & beverages
Employees: 38,013 people (as of 31 December 2016)
Headquarters: Osaka City, Osaka, Japan
◇Global deployment of the Suntory Group (as of March 2017)
《 Project Points 》
Globalization has led to a marked increase in overseas group companies and, accordingly, in financial transactions among them. This presented Suntory management with a need to: 1. Lighten the administrative burden imposed by overseas money transfers 2. Reinforce group compliance
Efficiency and security are important criteria for a group that makes 12,000 overseas money transfers each year.
- The system must be able to conduct overseas money transfers in an efficient, automated manner.
- The system must be amenable to data linkages with COMPANY Cash Management.
- The system must have the flexibility to accommodate the heavier workloads and structural reorganizations to accompany further globalization.
- After only two months in service, the system has lightened the administrative workload associated with overseas money transfers by 73%, thus freeing up personnel for tasks having a higher added-value content.
- By limiting the authority to edit overseas money transfers emanating from internal systems, it has also done much to strengthen compliance over such transfers.
A system capable of supporting a rapid global advance
Suntory Holdings has been domestically using COMPANY Cash Management, a cash control system within the COMPANY series, to supplement an internally developed accounting system. In recent years, however, a globalization drive, best represented by Suntory’s acquisition of Beam Inc., led to a dramatic increase in financial transactions with overseas group subsidiaries. This has compelled management to move to (a) lighten the administrative burden entailed by such transfers and (b) strengthen compliance. As for transfers, which doubled over the seven-year period from 2008 and are expected to soon reach annual total of 12,000, employees would typically spend more than four hours a day on related administrative tasks, which were performed manually; and, as for compliance, much was left to the personal integrity of those involved. The decision to go with COMPANY Business Management was largely based on its ability to resolve these issues.
More specifically, COMPANY Business Management was selected upon a high assessment of its (a) ability to efficiently handle overseas money transfers through automated processing of foreign currency payments: (b) data processing efficiencies through easy linkage with COMPANY Cash Management, already in use within the group; and (c) flexibility to accommodate business/revenue growth and bold organizational changes, including merger & acquisition initiatives, in step with further global advances.
A 73% lightening of the administrative load, a strengthening of compliance
Suntory processes about 600 overseas money transfers in a typical month. Now, with COMPANY Business Management, transfer-related data is automatically generated from information provided through links with internally developed systems. Furthermore, the system not only produces the necessary documentation for such transfers—transfer requests and even fax confirmation sheets—but also automatically generates journal entries, releasing operators from the need to do so themselves. And the system facilitates quick and accurate auditing through convenient referral to and outputting of accumulated money transfer data.
Through this automation of many of troublesome, time-consuming tasks earlier done by hand, COMPANY Business Management reduced processing time by a total of 218 hours in its first two months of operation. This lightening of the administrative burden has allowed the company to reassign personnel to activities that contribute more added value, including reviews/revisions of major work processes and, through extensions of favored practices to other Suntory-affiliated companies, group-wide efficiency drives.
In addition, COMPANY Business Management has done much to strengthen compliance by, for instance, restricting the authority necessary to edit overseas money transfers from internal systems and blocking transfers based on anything other than client master data maintained by such systems.
(Report date: March 2017)
* Company names and other information herein are valid as of the report date. They are subject to change.
* Company names, product names and the like are trademarks or registered service marks of their respective owners.
《WAP Accounting –related Products in Service at Suntory》
●COMPANY Business Management
●COMPANY Cash Management