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Launched “Money Forward IT Management”

Realization of centralized IDs of SaaS management

Money Forward, Inc. (Head office: Minato-ku, Tokyo; Representative Director, President and CEO: Yosuke Tsuji) today announced that its new group company “Money Forward i, Inc.” (Head office: Minato-ku, Tokyo; President and Representative Director: Yoshito Imai; “MoneyForward i”) will launch “Money Forward IT Management”, initially as a beta version. This service will enable the user to centrally manage SaaS and IDs being implemented within the company.

Money Forward Group is widely expanding its business SaaS / Fintech Field, including Personal Financial Management Service “Money Forward ME”, SaaS Applications for Back Office Operations “Money Forward Cloud”, and SaaS Marketing Platform “BOXIL SaaS”.

Today, we newly entered the business field of SaaS Management through MoneyForward i by providing “Money Forward IT Management”. This service will enable users to centrally manage IDs of SaaS products, including functions to issue, track, and delete IDs by leveraging Money Forward’s core account aggregation technology.

■About “Money Forward IT Management”

“Money Forward IT Management” is a SaaS ID management service. Users will be able to centrally manage the various Saas products implemented within the company as well as any IDs of employees. Functions include issuing, tracking, and deleting ID; enabling a secure ID management system by automatically detecting IDs of retired employees.
In the near future, we plan to offer functions to detect “shadow IT*3”, enable issuance and deletion of IDs on the platform, offer recommendation features for cost reduction, as well as to provide other notification features .

Functions provided in the beta version
-Centrally manage SaaS within the company
-Visualize the status of ID issuance for each SaaS
-List the usage status of SaaS
-Automatically identify IDs of retirees and external partners

Features to be provided in the future
-Identify shadow IT*3
-Manages IDs of retirees and new employees
-Visualizes the costs of SaaS and offers cost reduction proposals
-Notify the events that require ID deletion, such as an employee retirement

3 SaaS that are introduced and used at the discretion of employees or departments and thus not noticed or managed by the management or system administration departments.

In 2020, the domestic SaaS market is expected to grow by 123.7% to ¥1,033.2 billion from 2019, and reach ¥1,605.4 billion in 2024*4. According to a survey by Okta *5, provider of ID as a Service (IDaaS), the average number of SaaS applications used by technology companies has increased from 133 in 2019 to 155 in 2020, implying that the utilization of SaaS will continue to grow in Japan.
Companies implementing a large number of SaaS now face many problems such as shadow IT and over paying fees due to insufficient ID management.  These problems have increased the workload on the information systems department.
In order to solve these problems, which are increasing along with the expansion of the SaaS market, Money Forward i will start providing “Money Forward IT Management”.

4 Fuji Chimera Research Institute, Inc., “2021 Cloud Computing: Current Status and Future Prospects, Market and Vendor Edition” (July 7, 2021, No. 21065)

5 Okta, “Businesses at Work 2021,” https://www.okta.com/businesses-at-work/2021/

■About MoneyForward i, Inc.
Name:  MoneyForward i, Inc.
Location:  21F Tamachi Station Tower S, 3-1-21 Shibaura, Minato-ku, Tokyo 108-0023
Representative:  Yoshito Imai, President and Representative Director
Start of business:  February 2021
Business description:  Development and provision of “Money Forward IT Management”
URL:  https://i.moneyforward.com/

■ About Money Forward, Inc.
Name:  Money Forward, Inc.
Location:  21F Tamachi Station Tower S, 3-1-21 Shibaura, Minato-ku, Tokyo 108-0023
Representative:  Yosuke Tsuji, Representative Director, President and CEO
Establishment:  May 2012
Overview:  Leading Fintech/SaaS company in Japan / Listed in 1st Section of Tokyo Stock Exchange
URL:  https://corp.moneyforward.com/en
Main Services:
“Money Forward Cloud”, SaaS platform for back-office operation https://biz.moneyforward.com/
“Money Forward ME”, a service to visualize personal finance https://moneyforward.com/

*All company names and product/service names (including logos) are trademarks or registered trademarks of their respective owners.

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