SMFL Singapore Branch implements invoiceAgent Transact

Sumitomo Mitsui Finance and Leasing Company, Limited (SMFL) and WingArc1st Inc. (WingArc) are pleased to announce that SMFL's Singapore branch has implemented WingArc's electronic transaction service, invoiceAgent ^(*1) Transact, and has begun providing an electronic document service for business partners in billing-related operations such as leasing contracts.

This is SMFL's first initiative to introduce its domestic document digitization service to its international branches, and marks the first time that WingArc has provided invoiceAgent Transact services outside of Japan. Implementation at the Singapore branch faced challenges, such as the need to work in multiple languages and support the implementation process remotely, but the service's track record of adoption and use in Japan and the collaborative structure between the two companies to date ultimately led to success.

The government of Singapore has formulated a national strategy called "The Smart Nation vision," and is busy promoting digitalization across a wide range of fields. With the adoption of invoiceAgent Transact, SMFL aims to accelerate the digitalization of business processes at its Singapore branch, strengthen administrative governance, and improve operational efficiency. The company will also consider adopting invoiceAgent Transact at its other international locations and promote the development of an international document distribution platform.

invoiceAgent Transact is a service that digitizes paper-based billing documents related to traditional leasing contracts and delivers them to business partners via email. SMFL introduced the service in June 2021 for domestic leasing contracts, etc. ^*2 By using invoiceAgent Transact in Japan, SMFL has achieved a reduction in _CO2 emissions through paperless operations and a reduction in the printing, sealing, and shipping of forms.

*1 invoiceAgent
https://www.wingarc.com/product/ia/index.html (Japanese)

*2 Press release articles
"Digitizing Lease Contract Billing and Payment-Related Documents - Adopting the Electronic Transaction Service "invoiceAgent TransPrint""

https://www.smfl.co.jp/news/assets/210622.pdf (Japanese)
https://corp.wingarc.com/public/202106/news1419.html (Japanese)