ITOCHU Corporation Adopts ABBYY’s Intelligent Document Processing Platform to Transform Transactions
Successfully reduces 49,000 manual hours annually when combined with RPA
ABBYY, an intelligent automation company, announced that ITOCHU Corporation (Headquarters: Minato-ku, Tokyo, Japan), one of Japan’s largest trading companies, has integrated ABBYY's intelligent document processing (IDP) platform with its digital transformation (DX) platform.
As part of ITOCHU Corporation's company-wide DX initiatives, it introduced IDP with robot process automation (RPA) to improve the efficiency of paper-based order transactions.
ABBYY IDP solutions have a high reading accuracy and can handle everything from simple fixed forms to complex atypical forms. By combining IDP with RPA, we have succeeded in reducing the overall work time by 49,000 hours per year. The fact that ABBYY supports not only the cloud but also on-premises makes it easy to operate from security a viewpoint, and it was a decisive factor in our selection. As a result of the improved productivity in order-placing and trade-related operations, we plan to scale ABBYY in many areas, such as improving productivity in financial statement analysis and other departments.
We are working to improve the efficiency of operations through a DX platform using RPA for common operations. However, there were many transactions in paper forms and cases where it was difficult to utilize RPA. Therefore, we decided to incorporate IDP for digitalization. After evaluating various IDP solutions, we selected ABBYY because it is highly customizable and suitable for business transformation. In the future, we plan to utilize it to promote DX across group companies.
Yusuke Yamaji, Digital Project Management, IT & Digital Strategy Division, ITOCHU Corporation.
I am very pleased that ABBYY's technology is contributing to ITOCHU's digital transformation conversion. Continuing our momentum with ITOCHU Corporation, we look forward to supporting not only the trading company industry where many paper business issues remain, but also companies in the finance and logistics industries. Our goal is to continuously innovate our products with capabilities that promote business automation and efficiency for our many customers in Japan and make a significant contribution to productivity and business expansion.
Mariko Maeda, ABBYY Japan President & CEO.
IDC, a global research firm, predicts that the Asia Pacific and Japanese markets for intelligent process automation (IPA) will grow to $5.5 billion by 2025, reaching $42.5 billion globally. IPA is a combination of technologies used to manage and automate digital processes, including intelligent automation platforms such as RPA, IDP/AI OCR, process mining, AI, and machine learning. ABBYY is recognized as a leader in IDP and process mining solutions by industry analysts.
About ABBYY
ABBYY powers intelligent automation. We reimagine the way people work and how companies accelerate business by delivering the intelligence that fuels automation platforms. Our solutions transform enterprise data and empower you with the insights you need to work smarter and faster.
We help more than 5,000 companies globally, including many of the Fortune 500, to drive significant impact where it matters most: customer experience, profitability, and competitive advantage.
ABBYY is a US-based global company with offices in 15 countries. For more information, visit www.abbyy.com/company/about-us/ and follow us on LinkedIn, Twitter and Facebook.
ABBYY can either be a registered trademark or a trademark and can also be a logo, a company name (or part of it), or part of a product name of ABBYY group companies and may not be used without consent of its respective owners.
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