Madras Check, a South Korean developer of project management software, has secured a contract with Japan’s leading accounting software public company, MJS (Miroku Jyoho Service), to deploy its collaboration tool, Flow, across the organization for approximately 2,000 employees. This agreement represents a significant achievement that aligns with Japan’s strict software quality standards and is expected to act as a launchpad for Flow’s entry into the Japanese market.

MJS plans to adopt Flow to enhance its employees’ digital work competitiveness and aims to capture the Japanese collaboration tool market through a partnership with Madras Check, leveraging Flow’s superior features. MJS, listed on the Tokyo Stock Exchange’s Prime Market (formerly the First Section), has built extensive sales expertise and a network over its 47 years of operation in the Japanese market. The company intends to use these strengths to target the APAC market, including Japan, and to expand its sales and reselling efforts.

In the context of the Japanese government’s efforts to enhance digital competitiveness, including declaring digital reforms and establishing a Digital Agency to promote digital transformation, the collaboration between these two companies is anticipated to be a crucial step in pioneering the Japanese digital collaboration tool market.

MJS commented, “After using Flow, we recognized its high potential for success in the Japanese market. We plan to create and capture a new business segment within the collaboration tool market in Japan, where there is a growing demand for digital transformation (DX), leveraging the infrastructure and expertise of both companies. Moreover, we expect to increase our market share in the global collaboration tool market, including in APAC and Europe, thereby strengthening our global footprint.”

As of February 2024, Flow is utilized by over 500,000 companies, institutions, and schools in 55 countries worldwide, recognized for its stability, with revenue increasing by more than 100% year-over-year for three consecutive years. Additionally, Flow has achieved ISO/IEC 27001 certification and has successively acquired international standard certifications such as CSA STAR, underscoring its commitment to accelerating its global expansion based on its certified security level.

Hakjun Lee, CEO of Madras Check, stated, “We are excited to partner with the best partner in Japan, Asia’s top market. The domestic collaboration tool market is valued at $385 million, while Japan’s market is approximately $2.8 billion. Flow aims to expand its footprint into the global collaboration tool market, estimated to be around $47 billion, including in APAC and Europe. Our goal is for Flow to become an indispensable tool for digital transformation among global corporations.”