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.
How EY can Help
“Trust is not something you can bolt on. It has to be designed in from the outset,” said Marco Vernocchi, EY Global Chief Data Officer. Trusted Intelligence embeds trust in a tangible way that embraces behaviors, processes, business models and outcomes as data moves through technology and the organization — accelerating transformation and the creation of long-term value.
Trusted Intelligence in action: the Xbox ecosystem
With thousands of developers, publishers, authors, designers, production houses and distributors, Microsoft’s Xbox gaming platform is a complex ecosystem of relationships. Collaboration across this ecosystem is key to producing a high-quality product that attracts the best talent and satisfies consumers – but Microsoft recognized there were points of friction that needed to be addressed.
A multitude of manual processes and siloed systems meant that developers and publishers couldn’t link complex calculations for royalties to the underlying data. As a result, they had to spend time and resources reconciling, validating and tracing back the transactions, then recalculating royalties to verify accuracy. Distributors found it difficult to reconcile data from different sources.
To cut through complexity and increase trust in the data, Microsoft and the EY organization partnered to co-develop the solution. The result was the first blockchain-based financial system of records for processing end-to-end royalty transactions, from contract creation through to integration with SAP for payments. The blockchain solution provides near real-time access to authentic trusted transactions data from source systems to game publishers, who can click and drill-down from transactions to source contract terms agreed with Microsoft.
The upshot? Publishers can access information on royalties earned in just 4 minutes instead of 45 days after month end. Royalties administration costs have been slashed. Increased trust in the royalties intelligence has given the ecosystem greater visibility of the underlying data. Microsoft benefits from faster, more efficient processes and lower operational costs.
With trust, everything moves more smoothly. Collaboration is easier. Innovation drives value. Technology can be deployed at speed.