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South Korea’s Webcash has signed a business agreement with ID Beauty, the operator of the ID Hair franchise, to deploy a customized accounting platform called “ID Hair Gyeongnara” across all 112 ID Hair locations nationwide. Rather than individual stores signing separate contracts, the rollout is being implemented at the headquarters level, with ID Beauty covering all initial setup, training, and subscription fees. The goal is to standardize payroll, tax invoicing, expense verification, and fund management so franchise owners can reduce their bookkeeping burden and focus on beauty services. Webcash plans to use this agreement as a springboard to expand its SaaS offerings tailored to the franchise industry.
Key Elements
All locations of the South Korean beauty franchise ID Hair will now use the same accounting system. Webcash (053580), a financial AI company, announced on the 16th that it has signed a business agreement with ID Beauty, the operator of ID Hair, to deploy “ID Hair Gyeongnara.”
Under the agreement, the two companies will apply a customized accounting platform across all 112 ID Hair stores nationwide. Instead of individual stores contracting for services separately, the rollout is structured as a headquarters-level agreement covering the entire franchise network. The plan is to establish a standardized environment where the headquarters and each store can process payroll, tax invoices, expense documentation, and fund management under the same criteria.
“Gyeongnara,” the foundation for the newly introduced “ID Hair Gyeongnara,” is a software-as-a-service (SaaS) platform that supports payroll, tax invoicing, expense verification, and fund management. It also includes features for managing funds across multiple stores from a single location. Webcash plans to configure the platform so that the headquarters and stores can manage and share accounting data under consistent standards.
The cost burden falls on the headquarters, not the franchisees. ID Beauty will provide initial program setup and user training, and has agreed to cover all subsequent Gyeongnara subscription fees in full. This approach reflects the nature of the beauty industry, where fixed-cost management is critical, by allowing franchise owners to improve their accounting environment without additional expense.
Wi Woon-mi, CEO of ID Beauty, said, “After reviewing various solutions, we determined that Gyeongnara is the most suitable option for reducing the burden of complex tax and accounting work and helping franchise owners focus more on their core beauty services.” She added, “We will continue to build an environment where the headquarters and franchisees can grow together based on mutual trust, including full cost support.”
Kang Won-joo, CEO of Webcash, said, “In the franchise industry, where headquarters and numerous franchisees operate under a unified system, a standardized accounting and fund management environment is essential. We will use this agreement as an opportunity to expand Gyeongnara services tailored to the franchise sector and support the sustainable growth of small business owners and SMEs.”
The two companies plan to continuously improve features based on store-specific requirements identified during actual operations, and will also explore additional collaboration measures to enhance operational efficiency at ID Hair franchise locations.
The Significance of Franchise Standardization
This agreement is noteworthy as an attempt by a franchise headquarters to standardize even the back-office operations of its franchisees. Typically, franchise stores use unified systems for sales management and ordering with their headquarters, but accounting and tax work is often left to individual tax accountants or in-house methods. The headquarters’ decision to roll out an accounting platform across all stores and even cover the subscription fees is seen as a strategy to reduce operational burdens on franchisees while simultaneously improving data management efficiency at the headquarters level.
For Webcash, this agreement could serve as a bridgehead for expanding its franchise-specific SaaS business. By securing a reference case of supplying 112 stores under a single brand, the company can gain a stronger negotiating position with other franchise headquarters.
The market is paying attention to the possibility that this agreement could lead to larger-scale contracts. Webcash has been expanding its presence in the SaaS market for small business owners and SMEs centered on Gyeongnara, and the expansion into the franchise sector is viewed as offering larger contract sizes and a more stable revenue base compared to its existing sales efforts targeting individual businesses.
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