The Chikuho Bank and TKC Corporation have entered into a business matching agreement involving the Overseas Business Monitor (OBM), strengthening implementation support for companies seeking to expand overseas. OBM is a cloud service that makes the financial information of overseas subsidiaries visible and also includes functions to support internal audits.
The Chikuho Bank announced that it had entered into a business matching agreement with TKC Corporation concerning the Overseas Business Monitor (OBMonitor, or OBM). Under the agreement, The Chikuho Bank will introduce OBM to client companies and provide implementation support to help them expand overseas.
OBM is a cloud service that enables Japanese parent companies to visualize the financial position of their overseas subsidiaries. After local journal-entry data is uploaded to TKC's data center, it is displayed according to the parent company's chart of accounts. The data is automatically translated into Japanese or English, enabling users to keep up to date with the latest financial position in a timely manner.
The service includes functions to support internal audits and is also said to help detect and deter errors and misconduct. More than 1,800 companies have used the service to date, and it is deployed in 38 countries worldwide.
TKC and The Chikuho Bank plan to further strengthen their partnership and provide multifaceted support for client companies expanding overseas. Through global visualization of financial information, they aim to support strategic management decisions.