Finance Optimization

What EY can do for you

In today’s business environment, the ability to evaluate and communicate business performance in a transparent and timely manner has never been more powerful or more critical. EY teams are positioned to help organizations as they address these challenges through our deep knowledge of the finance function. We can help the finance and controllership function to assess their current processes, identify opportunities for improvement, and develop a roadmap for the future.

EY teams can assist in enhancing and redesigning the close process, as well as other processes that impact financial statements, providing a finance perspective during system implementations, helping develop advanced financial analytics, and supporting multi-country and generally accepted accounting principles (GAAP) reporting.

EY teams continually identify and create new technological advancements, tools and strategies, and apply them to the issues impacting the CFO’s agenda. Using the latest applications and analytical methods, EY teams can help you increase the level of trust in your financial and nonfinancial data, processes and reporting, and help create value through innovation.

These advanced solutions for the finance function can help to facilitate the improvement and automation of financial and nonfinancial processes, identify control deficiencies, support management decision-making and improve financial oversight. This can help finance teams to refocus resources from processing to analyzing transactions.

Process optimization

EY teams can assess and identify improvement opportunities in core finance functions — such as procure-to-pay, order-to-cash, and record-to-report — with a view to reducing cycle time, improving controls, automating key steps, and reducing error rates.  Our teams provide documented process flows, roadmaps to achieve process excellence, and benchmark comparisons to leading organizations.

Financial planning & analysis

Understanding where you’re making money and where you’re not is a critical element to improving profitability.  In the public sector, aligning funding with the costs associated with specific aspects of an organization’s mandate enable improved alignment of resources to strategies.  Our teams provide cost accounting, performance measurement, profitability analytics, and funding model support to organizations as they strive to achieve superior results.

Reporting technology and analytics

EY teams can apply advanced technologies such as artificial intelligence (AI), blockchain, process mining or core statistical analytics to improve financial insights and help drive efficiency and operational excellence. For example, EY teams can help shorten process cycle times, reduce process complexity — including the number of alternate process flows — and increase the effectiveness of controls embedded in the financial statement close and related support processes.

EY FAAS technology solutions can be customized to your business-, geography- and industry-specific requirements. These technology solutions can be provided on-premises or in a cloud environment, either on a one-off or ongoing basis.

Remediation services

EY teams are equipped to provide support in analyzing, evaluating, designing, and implementing remediation for accounting processes, controls, and IT systems. This can encompass the identification and systematic organization of findings to help facilitate in-depth root cause analysis.

The EY multidisciplinary teams combine traditional competencies, such as accounting, professional skepticism and teaming, with EY multi-GAAP accounting and reporting experience, technology, data and analytics to help deliver business insights, and improve efficiency, effectiveness and operational excellence.