The manufacturing industry is rapidly accelerating its digital transformation and smart factory implementation, driving demand for data-driven decision-making and transparent cost management.

However, most SMEs still rely on Excel or simple accounting programs designed only for tax purposes, making it difficult to understand actual cost structures. This leads to absent cost reduction strategies, delayed decision-making, and deteriorating profitability. Most SMEs lack resources to employ specialized accounting personnel or systematically operate MES/ERP systems.

Invigo Works addresses these challenges with an end-to-end SaaS solution enabling manufacturers to handle cost management, production management, and inventory management without dedicated personnel. Users simply upload Excel files, receipts, or voucher images, and the system automatically generates process cost calculations, inventory tracking, production plan optimization, and profit analysis reports. Founded in October 2023 by CEO Shin Hee-seong—who served as CFO at organizations including KOSPI-listed companies, Naver, and a Silicon Valley firm—the company brings expertise from both manufacturing and tech industries.

Unlike existing MES/ERP systems focused on operational management, Invigo Works positions itself as a ‘Virtual CFO Solution.’ Through AI-based algorithms, the platform automatically analyzes accounting, production, and inventory data to deliver management reports supporting profitability analysis, process improvement strategies, and inventory demand forecasting.

Invigo Works offers two SaaS products: ‘Manufacturing Lab’ for automatic process cost calculation and cost flow reporting, and ‘Liquor Lab’ for liquor tax calculation and production planning for traditional liquor producers. The company’s business model includes SaaS subscriptions, consulting services, and customized development. Korea’s smart factory solution market stands at approximately $2.76 billion USD (4 trillion KRW), with cloud-based SaaS demand projected to grow at over 15% annually.

Invigo Works secured seed investment and TIPS program selection in 2024, achieving $54,500 USD (79.03 million KRW) in revenue even before official launch. In 2025, the company was selected for the SME Cloud Service Supply and Expansion Project. The founding team combines deep expertise in financial accounting and technology, with specialists in cloud architecture, backend systems, and data modeling.

Invigo Works was selected as a support company for the Pangyo Gyeonggi Culture Creation Hub of Gyeonggi Content Agency in 2024. The hub provided office space, networking opportunities, and business support including cloud service programs and IR initiatives.

Invigo Works aims to evolve into a digital internal control solution based on external audit standards and IFRS, becoming a partner helping SMEs grow into organizations capable of independently meeting external audit standards.

What problems is Invigo Works trying to solve?

Most small and medium-sized manufacturers still rely on Excel, manual methods, or simple accounting programs designed solely for tax purposes, making it nearly impossible to understand actual cost structures. This results in absent cost reduction strategies, delayed decision-making, and deteriorating profitability.

Direct material costs and processing fees—which account for most manufacturing costs—cannot be controlled unless analyzed with real-time process data. Most SMEs lack resources for specialized accounting personnel or systematic MES/ERP operations. We aim to support strategic management decisions based on accurate cost information, enhancing both productivity and profitability.

How does Invigo Works solve this problem?

Invigo Works provides an end-to-end SaaS solution enabling manufacturers to handle cost management, production management, and inventory management without dedicated personnel. Users simply upload Excel files, receipts, or voucher images, and the system automatically organizes and analyzes everything, generating process cost calculations, inventory tracking, production plan optimization, and profit analysis reports.

Additionally, our ‘Virtual CFO’ functionality includes dashboards, management reports, and inventory demand forecasting—improving the management environment as if the company had an internal strategic planning team. We aim to democratize strategic management based on accounting and production data.

What are Invigo Works’ products/services specifically, and what’s the current progress?

Currently, we offer two SaaS products: ‘Manufacturing Lab’ for automatic process cost calculation and cost flow reporting, and ‘Liquor Lab’ for liquor tax calculation and production planning for traditional liquor producers.

Both products have secured beta and paying customers, and we’ve been selected for the 2025 SME Cloud Service Supply and Expansion Project. We’re currently advancing AI-based report automation and expanding analysis templates, strengthening capabilities for both practitioners and management.

What are Invigo Works’ competitive advantages and differentiation?

Most existing MES or ERP solutions focus on operations—helping practitioners enter process data and manage status—but often lack functionality supporting strategic management decisions.

Invigo Works goes beyond these limitations as a ‘Virtual CFO Solution’ responsible for what comes after ERP. We automatically analyze accounting, production, and inventory data to deliver management reports supporting profitability analysis, process improvement strategies, and inventory demand forecasting. Our AI-based algorithms automate work without specialized knowledge, dramatically reducing work hours while simultaneously supporting analytical judgment and improvement execution.

Who are Invigo Works’ target customers, and what’s the target market size?

We prioritize small and medium-sized manufacturers in chemicals and metals as initial targets. These companies often lack analysis reports or cost structure improvement plans useful for management, even with ERP or MES systems. We plan to gradually expand into mechanical processing, food, and textiles.

Korea’s smart factory solution market is valued at approximately $2.76 billion USD (4 trillion KRW), with cloud-based SaaS demand for SMEs growing at over 15% annually. Demand is particularly concentrating on strategic decision-making support solutions rather than simple operational tools, suggesting high market expansion potential for our report-based solution.

What is Invigo Works’ business model?

We operate based on three revenue models: SaaS monthly subscriptions providing core functions, consulting services through professional accounting experts for internal control and cost improvement strategies, and customized development reflecting customers’ specific requirements. These three structures complement each other and can scale according to customers’ growth stages.

What achievements has Invigo Works made so far?

We were selected for the TIPS program in 2024, receiving official recognition for our technology and business potential. That same year, we recorded $54,500 USD (79.03 million KRW) in revenue even before service launch. In 2025, we were selected as a supply company for the SME Cloud Service Supply and Expansion Project.

‘Liquor Lab’ recently strengthened its professionalism through strategic partnerships with tax law firms specializing in the liquor market, preempting a dominant position in the traditional liquor market. Internally, we’ve elevated our accounting and development talent to increase technological self-sufficiency.

What are the competitive advantages of Invigo Works’ founding team?

We combine technology and accounting expertise built on deep understanding of both manufacturing and IT industries. Our CEO accumulated practical experience supervising cost accounting at a KOSPI-listed pharmaceutical company and performing financial planning at Naver, providing significant advantages in designing cost management and business reporting in SaaS form.

Technologically, we’ve internally assembled specialized developers in cloud architecture, backend systems, and data modeling, enabling rapid product development. We’re a rare team capable of simultaneously understanding customers’ practical processes and accounting flows.

Three reasons why Invigo Works should receive investment!

First, we’ve validated our product through early customers, achieved successful paid conversions, and built a structure generating actual revenue through government projects. We’ve established a recurring revenue foundation with numerous stable entry cases through cloud service programs.

Second, we’re experiencing rapid demand growth from mid-sized companies and large corporations through recent trade show participation. To scale B2B expansion, we need capital expenditures for personnel recruitment and system infrastructure advancement.

Third, we’ve received acquisition proposals from European M&A groups and strategic investment offers from ERP companies, proving our technology is recognized as a structural problem-solving tool. Given our solution’s high viability and scalability, investors can identify clear exit possibilities.

What help are you receiving from Pangyo Gyeonggi Culture Creation Hub?

We were selected as a Pangyo Hub support company in the second half of 2024. Beyond space provision, we gained networking opportunities with diverse startups and SMEs within Gyeonggi Province’s ecosystem, leading to actual business connections. Programs providing practical assistance—including cloud service initiatives, IR and branding programs, and business mentoring—proved highly effective for our early establishment.

What is Invigo Works’ vision for the future?

With the expansion of mandatory external audits for internal accounting control systems, demand for accounting-based reporting systems and data-driven decision-making solutions will inevitably continue growing. Invigo Works aims for long-term evolution into digital internal control solutions based on external audit standards and IFRS.

However, a more urgent challenge is strengthening the domestic industrial foundation through management improvements at SME manufacturers. We standardize analysis through accounting reports so anyone can understand them, and by helping on-site practitioners accurately recognize processes and cost flows, we aim to simultaneously strengthen companies’ fundamental soundness and growth potential. Invigo Works aspires to be a partner helping SMEs grow into organizations capable of independently satisfying external audit standards.