EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients.
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Financial Services
EY teams can help today’s financial institutions (FIs) accelerate their transformation with SAP Solutions®.
Helping financial institutions transform the finance function
Today’s financial institutions (FIs) need to accelerate their transformation agendas to become more agile and resilient in their pursuit of growth and greater long-term value while maintaining regulatory compliance. Reimagining and redesigning the finance function is frequently central to that effort, with strategic investments in innovative technologies key to achieving better, faster results in the digital economy.
Together, EY teams and SAP® offerings can help FI clients — banks, insurance companies, and wealth and asset management organizations — transform their finance functions, and in the process increase both strategic focus and operational efficiency, become value creators for the entire business and realize sustainable competitive advantage.
EY Transform for SAP methodology unlocks enterprise benefits by taking a people-centric, data-driven, value-focused approach to SAP-enabled business transformation. Built from the ground up for SAP S/4HANA® and powered by SAP Activate®, Transform for SAP leverages agile techniques to increase delivery velocity while also managing risks for transformation in the digital era.
This methodology has been integral to major banks and insurance companies' enhancing performance through scalable offerings; simplified data and systems architecture; flexible, controlled processes; enhanced reporting and analysis; and data-driven decision-making.
EY teams have created industry-specific tools and accelerators that appropriately position them to drive greater value in providing SAP offerings. For example, EY’s SAP Insurance Accelerators, Intelligent Transformation Platform (ITP) and Intelligent Metrics Navigator can help automate and accelerate migration, enhance management reporting and bolster broad capabilities.
The EY SAP Banking Accelerator leverages a platform and integrated approach that accelerates implementation while reducing risk in each phase. Pre-built business process scenarios and offering enablers are based on SAP leading practices and EY banking intelligence. EY’s completeness of vision and ability to execute in this arena have been recognized by the analyst community.
The EY organization has invested heavily in the global infrastructure, people model and innovative technology necessary to support a market-leading advisory and technology transformation capability. EY combines its regulatory credibility, industry experience, customer centricity and technological competencies gained by working with financial services executives with a global footprint of delivery options to provide superior service to our clients.
The EY comprehensive approach assists clients in realizing their transformation strategies and successfully evolving their businesses in a flexible, effective and future-focused manner. Together EY teams and SAP can help FI clients identify disruptive business opportunities, while delivering best-in-class digital readiness to keep pace with their peers.
EY ifb Packaged Solution for Finance
The EY ifb Packaged Solution for Finance supports banks in closing their books in the cloud. This tailored, pre-configured, cloud-based accounting solution is designed specifically for small and medium-sized banks and financial institutions, as well as small subsidiaries within larger groups. Powered by SAP S/4HANA Cloud Public Edition, this innovative solution helps ensure compliance with both UK GAAP and IFRS, providing a reliable accounting system that grows with your business while meeting external regulatory requirements.
Benefits
- AI-driven tools: Accelerate data loading and quality by flagging issues early and proposing remediations using AI.
- Boost for compliant accounting: Access a general ledger and essential subledgers with financial service-specific enhancements.
- Group reporting: Experience faster consolidation and group submissions using SAP's go-to solution.
- Disclosure reports: Gain insights for stakeholders on key financial numbers.
Why EY
The EY team brings insights in financial services and SAP to facilitate a seamless transition to SAP S/4HANA Cloud Public Edition. Utilizing proven methodologies, we support a smooth migration process, granting access to the latest innovations from SAP and EY, which accelerates reporting processes and reduces costs.