EY helps clients create long-term value for all stakeholders. Enabled by data and technology, our services and solutions provide trust through assurance and help clients transform, grow and operate.
At EY, our purpose is building a better working world. The insights and services we provide help to create long-term value for clients, people and society, and to build trust in the capital markets.
The Finance Technology solution improves the efficiency and effectiveness of finance processes by using emerging technology to automate transaction processing and associated financial, managerial, statutory, tax, treasury, ESG, compliance and other reporting.
Develop GenAI capabilities to improve forecasting and insight development and build trust in a variety of functions through natural language and cognitive processing.
Advanced analytics
Provide better, more timely information to key stakeholders and remove human bias from forecasting using diverse data sources — from industry sources, social media and across business functions.
Intelligent automation
Reduce costs by automating key finance, accounting and tax processes to free up resources and redeploy them toward higher-value tasks, such as decision support and risk management.
CFOs and their organizations are challenged to match technology to their finance transformation objectives. They are asking themselves:
How do we transition from traditional finance processes to modern, digital initiatives?
How can we quickly deploy technology in a low-cost environment?
How do we accommodate sector-specific variances in finance technology architecture?
Can our analysts deliver solutions without advanced coding skills?
Which technologies integrate with our finance function to manage large datasets?
Which software-as-a-service (SaaS) applications can transform our finance function?
Solution features and functionality
Within the Finance Technology solution, EY teams use a mix of offerings to help organizations transform their finance functions for speed, accuracy and scale.
EY teams help organizations map how to integrate technology into the finance function and build a strategy to remain resilient in the face of business and technological change.
Maturity assessment
Benchmarking and baselining
Operating model
Resource framework organization and optimization
Use enterprise applications that help the finance function – and the wider organization – be more responsive, agile and insight-driven by providing robust, detailed processes and technology infrastructure.
EY teams drive digital core transformation to help organizations maintain competitiveness in the market, mine potential transformation initiatives and ultimately to drive enterprise resource planning (ERP) enabled transformation services. This service offering consists of a wide array of ERP design and implementation.
Integrate digital technology enablers that serve as beacons of innovation and help enable the finance function drive process efficiency and derive business insights.
EY teams use a broad set of emerging technologies and leading services to drive hyperautomation and support cloud-based, agile and digital finance functions:
Artificial intelligence and GenAI
Intelligent automation
Advanced analytics
Blockchain and IOT
Develop an approach to adapt business processes in a technology context to increase productivity and efficiency, leveraging tech enablers.
EY teams use process enablement to help deliver substantial operational benefits and recover major technology change business cases. A wide array of technology enablers in the fields of business intelligence, business process management and process mining can help organizations harness the efficiency gain from this effort.
Business intelligence (BI)
EY teams help organizations use BI technologies to provide historical, current and predictive views of business operations.
Alliance relationships include Microsoft, SAS and Splunk.
Business process management (BPM)
EY teams use BPM tools to help organizations model, analyze and execute business processes to improve efficiency.
EY teams use process mining tools to leverage a company’s data (often from ERP systems) to perform fact-based analysis of business processes, conduct conformance checking and derive insights.
Alliance relationships include: Celonis and Ui Process Mining.
Undertake ERP/EPM cloud migration that harnesses the potential of cloud and emerging analytics platforms.
EY teams provide cloud migration and transformation through the EY Cloud Enablement Center (CEC), which serves as a hub and near-shore compliment to the EY cloud capabilities and delivery centers across the globe. The CEC caters to the full breadth of regulated financial service businesses adopting cloud-based models and infrastructures at increasing speed by leveraging the EY Organization’s existing cloud talent and services capabilities.
The CEC offers:
Cloud strategy and assessment
Cloud governance
Application rationalization
Cloud risks and controls
Cloud data — NextGen
Hybrid cloud deployment
Cloud migration services
Cloud native digital platform development
Improve UX/UI from the lens of finance practitioners and stakeholders from upstream and downstream.
EY teams use technology to drive an integrated user experience across the enterprise. This technology can be facilitated through EY Global Business Services, which enables an integrated user experience across the enterprise by prioritizing four levers of business value: experience, scale, branding and performance.
Build process improvements and data harmonization from all financial applications, covering consolidation, payables, receivables and more.
EY teams help organizations establish centralized virtual close and command centers to:
Consolidate communication of close activities.
Replace paper-based sign-offs with digital; maintain evidence of control execution.
Modify standard processes and controls and update documentation to cloud platform.
Define a risk-based approach to help manage account reconciliation frequency.
Improve reliance on digital tools to automate and store documentation.
Identify automation opportunities to help maximize financial close solutions.
Integrate solutions across purpose-built platforms.
Design long-term roadmap for continuous improvement.
EY.ai
The EY suite of finance solutions is backed by EY.ai — a unifying platform that seamlessly connects AI capabilities.
The Finance Technology solution sits within a connected suite of EY finance solutions that supports the full agenda of the CFO. EY teams have over 11,000 professionals dedicated to finance and global business services (GBS) transformation.
Alliance relationships
EY alliance and ecosystem relationships allow organizations to put powerful technology at the core of their transformation to a future-ready, agile finance function. The Finance Technology solution utilizes Blackline, Microsoft, SAP and ServiceNow to build transformative finance functions.
Leaders that put humans at the center to navigate turning points are 12 times more likely to significantly improve transformation performance. Learn More.
In this episode of The Better Finance podcast, Deirdre Ryan and Andrea Gronenthal discuss key findings of the EY Global DNA of the CFO survey. Listen now.
22m 34s
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