Genial Technology begins full-scale deployment of GenialAI for Web, an AI-based vouching system, for general companies.
Through the landing page for general companies & the knowledge sharing by column articles
Genial Technology announced it started full-scale deployment of an AI-based vouching system “Genial AI for Web” for general companies other than audit firms.
■ Features of GenialAI for Web
Genial Technology offers Genial AI for Web, a self-learning audit tool that automates vouching, with the mission of “AI for more effective auditing” to reduce the burden on the auditors and allow them to focus on tasks that require human ingenuity and judgment.
Genial AI for Web utilizes AI-OCR to read various documents in accounting and back office, and automatically match them against table data, thus streamlining the input and verification process through the use of technology.
■ Background
The development, proof of concept, and service provision of Genial AI for Web have been purposed primarily to automate audit procedures by audit firms.
On the other hand, Genial Technology has begun to develop use cases for general companies by exhibiting at the Japan IT Week “Cloud & BPR Expo Spring” in April 2022 and interviewing industry experts, and has verified that Genial AI for Web can be used to automate evidence verification in accounting and back-office operations.
In addition, the company has received patents in Japan and the U.S. for automatic recognition of document items for AI-OCR, seed investment from Incubate Fund, successful pilot test with PwC Arata LLC, and media coverage in such publications as the Nikkei newspaper, and has attracted attention from general companies.
■Full-scale deployment for General companies
As a result, it was confirmed that Genial AI for Web can be used by general companies to improve business efficiency in use cases that meet certain conditions. Therefore, Genial Technology has been in full-scale efforts to provide services to general companies through such initiatives as the establishment of a landing page for general companies (https://www.genialtech.io/ja/genial-ai-for-web/) and a series of column articles (https://www.genialtech.io/ja/column/).
The company is accelerating the provision of value to general companies by leveraging its expertise in automating reconciliation tasks accumulated through the development of Genial AI for Web, a service for audit firms.
■ Future Outlook
Genial Technology is developing a product that will greatly automate not only vouching for audit firms, but also in general corporate operations.
Genial AI automates checking processes
Genial AI can automate the matching and reconciliation of documents. It is best suited for use in accounting and back-office tasks that are performed in an analog manner.
- The product utilizes the know-how to automate the vouching process, which takes up half of the time required for the audit, and the pilot test with one of the Big 4 accounting firms confirmed an accuracy rate of approximately 94%.
- Extract necessary data from documents in various formats
- Automate matching and verification tasks using AI
- Subscription model based on the number of licenses that reasonably priced from USD 250/month
GenialAI can automate the detailed checking process in accounting and back office, prevent human errors, and streamline operations. Please feel free to contact us.
■ Overview of Genial Technology
Company name: K.K. Genial Technology
Established: July 1, 2019
Location: 3F Sunny Plaza Hiratsuka, 8-16 Beniya-cho, Hiratsuka, Kanagawa, Japan
Representative: Aki Abekawa
URL: https://corp.genialtech.io/en/