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AVANT CORPORATION: A VANGUARD IN THE MODERN WORLD


Tetsuji Morikawa, Chairman & Group CEO , Surendra Sharma, MD
In today's modern world, countries are still working towards converging the
requirements of local accounting standards with International Financial
Reporting Standards (IFRS). The differences in both often pressurize the
corporations operating on a global scale. One of the organizations to understand
these issues and provide solutions thereof is Tokyo, Japan, headquartered
company, Avant. Originally founded as DIVA Corporation by Tetsuji Morikawa,
Chairman and Group CEO, the company offers accounting software solutions that
seamlessly integrate with client's existing ERP or in-house systems to offer
quick insights for decision making along with conforming to local and
international compliance and statutory reporting standards.



Prior to his entrepreneurial venture, Morikawa worked with
PricewaterhouseCoopers(PwC). During his tenure, he led global group management
system development project for the Japanese conglomerate, Toyota. The project
turned out to be the turning point of his career, inspiring him to lay the
foundations of Avant (Originally DIVA Corporation).



He foresighted that the market would soon need software solutions for Group
management, Governance, and Global expansions namely three important issues
which Office of Finance encounters of--and this is the DNA that DIVA still
carries.



Morikawa had commendable foresight and he very well knew the evolving regulatory
changes in Japan—combined with a lack of consolidation processes within
companies— would be driving huge demand. He came up with the first version of
DivaSystem, a consolidated accounting software. Later DIVA was successfully
implemented at Taisho Pharmaceutical Co. as the first customer, as consolidated
accounting system which was focused to meet regulatory requirements. The
unprecedented success that harbored, ensured that the company got listed in
JASDAQ securities exchange.



"Divasystem Is Easy To Use, Cost Effective, And Offers Faster ROI"



When in year 2000 Japanese accounting regulation became consolidation-centered
DIVA became the sort after solution and fetched a lot of market credibility.



Morikawa elaborates, “DivaSystem is the flagship product from Avant for
Consolidated Accounting, Managerial Accounting, and Settlement Work
Outsourcing.” The software is easy to use, cost effective, and offers faster
ROI. The advanced automation features built into the software also make it
possible to reduce human dependency on much of the functionalities involved in
multi-level consolidation and report generation process.



In addition, Morikawa well aware of the huge cost and time overruns during major
ERP system upgrades decided to provide all upgrades to the software free of
cost, and, till date, it remains one of the compelling factors for customers.
The unprecedented success that harbored, ensured that the company got listed in
JASDAQ securities exchange.

> Divasystem Supports Budgets, Planning And Estimate Consolidation, Simulations
> Consolidation For Analysis, International Sub-Office Consolidation, And Other
> Accounting Management Features



Apart from serving accounts departments, Avant also decided to serve the office
of finance for its clients. Avant went on to acquire the CPA financial data
search company 'Internet Disclosure' in 2009 and then Zeal Corporation, a BI
Systems Implementation leader in Japan, to expand into system integration space.



Intelligent Data Integration and Reporting



Every software product has three major elements—data input, processing, and
Output. Seamless integration of data from myriad sources remains the most sought
after feature of DivaSystem. The easy to follow menu based architecture of
DivaSystem also makes processing simple and intuitive for business planning and
consolidated reporting. In addition, DivaSystem supports budgets, planning and
estimate consolidation, simulations consolidation for analysis, international
sub-office consolidation, and other advanced consolidated accounting management
features. Moreover, it can automate data processing conforming to local
standards and IFRS. Report consolidation helps in early closing of balanced
sheets, which can be directly disseminated for disclosure to stock markets and
other stakeholders. Detail-based internal transaction checking and defined
workflows with multi-stage authorization provide such flexibility. Surendra
Sharma, Managing Director, Global Business of Avant informs, “The goal behind
early closing of consolidated balance sheets is manifold, from disclosing
information to investors, reporting to managers, creating reserves for measures
dealing with IFRS, and so on.”



For Output, DivaSystem comes with comprehensive report and data analysis
functions, including more than 300 standard forms and drill-down reporting
tools, multi-dimensional analysis tools, and unique reporting tools. Data can be
extracted and analyzed from DivaSystem in excel format in real time and data can
be linked with Microsoft Word and Powerpoint as well. A team of highly skilled
professionals at Avant constantly analyze the market trends and upgrade the
products regularly to meet the evolving demands.



Conforming to Regulatory Challenges



Evolving statutory requirements in financial reporting has dramatically changed
the information needs of the businesses over the last few years. Office of the
finance, in particular, is under pressure and often faces hindrances to gain
clear control over global risks. CFOs are investing heavily in new age
technologies in their company's financial reporting and business development.
But as the local reporting guidelines vary, a globally diverse company must also
deal with different accounting standards such as US GAAP/IFRS and international
GAAP/ IFRS rules. Avant ensures these challenges are met with their solutions.
“We aspire to be the support system for the CFOs, wherein we empower them to
carry out their responsibilities by following stipulated legal guidelines,” says
Surendra Sharma.



“One of the great strengths of our products is that they work coherently with
almost any type of system, be it a major ERP or small ERP, Microsoft excel, or
in-house legacy systems,” informs Surendra Sharma.
Owing to such unique features, DIVA products act as a hub for other existing
systems and allow customers to transition to more sophisticated systems without
facing much of the underlying challenges. In fact, customers can link any kind
of system or document—such as offline inputs, text file, online excel package,
database, SAP, or other ERPs—to generate consolidated reports and views.



Building for Client Success



During DivaSystem implementations, highly skilled professionals from Avant work
with customers to understand their business goals and existing operations, and
thoroughly investigate factors to consider in formulating a discreet solution.
When global conglomerate Kawasaki Heavy Industries wanted to consolidate data
from its 100 domestic and overseas subsidiaries, it was clearly a herculean
task. They chose DivaSystem to streamline the process. The unique feature of
being able to link, import, and export data from excel sheets allowed DivaSystem
to simplify and streamline document creation processes, such that any changes in
disparate documents were accepted in consolidated report in real-time. Once the
final versions were ready, submission to the management became effortless. Not
surprisingly, after deploying DivaSystem, Kawasaki Heavy Industries was able to
drastically reduce the accounting workloads.



Similarly, Tire manufacturer, Bridgestone deployed DivaSystem to visualize and
advance management and institutional accounting. On similar lines, when Union
Tool wanted to automate their internal transaction checks and invoices, they
introduced DivaSystem NRN. Within months, the company could cut down on labor
time and establish comprehensive group-wide infrastructure needed to unify
accounting records. At present, out of top 200 stock listed Japanese companies
94 are using DivaSystem, if you see top 50 then 27 are using DivaSystem for
their Financial Consolidation, which is considerable penetration rate in a
highly competitive market. Some to the important one to mention are, Toyota,
Seven & I Holdings, NTT Docomo, Suzuki Motors, and Ajinomoto.



In total DivaSystem is implemented in 945 companies as of June 2017. Also, total
number of AVANT group stands 1700+.



Success stories as such, substantiate Avant's commanding position in the market
and the reason behind winning the prestigious accolade of ‘The number 1 market
share of consolidated accounting software and clear market leader in Japan’. The
company has released DivaSystem 10, and established a new legal entity called
FIERTE to manage the outsourcing business. To further enhance company’s business
planning and profitability management capabilities, Avant is developing a common
platform covering all product lines, it released DivaSystem SMD in June 2012 too
which is a state of art CPM (Corporate Performance Management) solution and is
gaining popularity at a rapid speed.







New products to facilitate fair and transparent global governance are other key
areas of focus. Surendra Sharma states, “Global expansion has been a key
initiative in 2017. We have formalized our strategy around global expansion and
I am the one who is driving it.” While the company already has branches in the
UK and the U.S., it plans to increase presence across APAC and European region.
Avant is leveraging its partnership with leading software vendors and local
partners. Self-development of cloud platforms to accommodate expansion of
products will be the new frontiers that will drive next phase of growth for the
company.
- Sudeshna Mazumdar
    October 04, 2017

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AVANT CORPORATION INFO

Company
Avant Corporation

Headquarters
Japan

Management
Tetsuji Morikawa, Chairman & Group CEO , Surendra Sharma, MD

Description
Provider of DivaSystem that handles Group Management and Consolidated
Accounting, Managerial Accounting, and Settlement Work Outsourcing





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ANDY NEWSOM, SVP & CIO, CSL BEHRING

MARK BADAL, CIO, IT&E

JASON BLACKMAN, CIO, CARSALES.COM

MARC A. HAMER, VP & CIO, BABCOCK & WILCOX ENTERPRISES, INC.

KEVIN SOH, CIO AND DIRECTOR, E-STRATEGIES, BH GLOBAL CORPORATION

SAL CUCCHIARA, CIO & HEAD OF WEALTH MANAGEMENT TECHNOLOGY, MORGAN STANLEY

SHIRIN HAMID, CIO, & CTO, ASIAN DEVELOPMENT BANK

LINDA K. LANNEN, CIO & SR. VP, KLEINFELDER

SUMIT PURI, CIO, MAX HEALTHCARE

BRETT RAVEN, CIO, BIG RED GROUP

MARK OHLUND, CIO & SR. V.P., ARMADA SUPPLY CHAIN SOLUTION

JAMES MACLENNAN, SVP & CIO, IDEX CORPORATION

ANDY NEWSOM, SVP & CIO, CSL BEHRING

MARK BADAL, CIO, IT&E

JASON BLACKMAN, CIO, CARSALES.COM

MARC A. HAMER, VP & CIO, BABCOCK & WILCOX ENTERPRISES, INC.

KEVIN SOH, CIO AND DIRECTOR, E-STRATEGIES, BH GLOBAL CORPORATION

SAL CUCCHIARA, CIO & HEAD OF WEALTH MANAGEMENT TECHNOLOGY, MORGAN STANLEY

SHIRIN HAMID, CIO, & CTO, ASIAN DEVELOPMENT BANK

LINDA K. LANNEN, CIO & SR. VP, KLEINFELDER

SUMIT PURI, CIO, MAX HEALTHCARE

BRETT RAVEN, CIO, BIG RED GROUP

MARK OHLUND, CIO & SR. V.P., ARMADA SUPPLY CHAIN SOLUTION

JAMES MACLENNAN, SVP & CIO, IDEX CORPORATION







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