Press release

19 Nov 2021 Nicosia, CY

EY and Microsoft expand collaboration to drive growth and technology innovation

Reinvent and modernize back office business and public finance operations

Press contact
EY Cyprus

Multidisciplinary professional services organization

  • Build a first-of-its-kind data fabric solution to help organizations harness the value of enterprise data
  • Transform regulated industries with innovative cloud-based platforms underpinned by trust
  • Aiming technological innovation across a range of industries

EY and Microsoft announced the expansion of their strategic relationship to further align EY business ingenuity with Microsoft’s cloud technologies to create long-term value for their respective clients with an incremental US$15b growth opportunity over the next five years. The increased collaboration will focus on launching new solutions and platforms that help organizations address business and societal challenges at scale through digital transformation.

The relationship concentrates on helping clients reinvent back-office operations and innovate in key regulated sectors like financial services, energy, health, government and manufacturing. In addition, the collaboration will create managed services that fuel client transformation, unlock value and develop a first-of-its-kind, enterprise-scale, trusted data fabric. EY teams will further extend the operation of the EY Microsoft Services Group to provide clients with deeper access to more than 40,000 experienced EY technology consulting professionals to meet changing demands. Microsoft will work with EY teams to train more than 150,000 EY professionals on Microsoft technologies and is dedicating engineering talent to accelerate the development of key solutions over the next five years.

EY teams help companies transform their businesses digitally without making their own infrastructure investments by leveraging the combination of both Microsoft Power Platform and Azure.

An established global leader with its Azure-based audit solution and Azure-based tax solution (Global Tax Platform), EY teams will continue to focus on reinventing back office operations with the technical provision of managed services across various areas such as tax, supply chain, risk and compliance and other managed services. Within these fields, combined EY and Microsoft teams are helping accelerate the development of key solutions including adoption of managed services in tax (EY Tax and Finance Operate), employee mobility (EY Pathway) and supply chain to help businesses save costs and boost agility, and drive the digitization of public finance systems to improve domestic resource mobilization.

EY and Microsoft teams are helping clients orchestrate a cloud for business. As part of this approach, EY and Microsoft are collaboratively developing the EY Trusted Data Fabric – a first-of-its-kind enterprise data offering that will automate the processing and adoption of data and provide access to data with advanced artificial intelligence (AI)-powered data management capabilities across multiple EY platforms. Combining EY Trusted Data Fabric with Microsoft’s Power Platform allows both teams to add more capabilities to EY Azure-native managed services platforms offering access to the most advanced technologies and helping clients create products to quickly innovate.

In addition, EY and Microsoft teams will collaborate on cloud solutions for regulated industries to help accelerate digital transformation and help clients overcome regulatory hurdles to move to and innovate in the cloud. Focus industries include financial services, health, energy and government. The collaboration will integrate proven offerings such as EY Financial Crime Platform, which drives trust in capital markets by protecting consumers and financial institutions from financial crime, and EY Comply, which efficiently controls, manages and reports financial regulatory requirements for financial institutions, into their Microsoft Cloud for Financial Services solutions.

Sakis Moyseos, Associate Partner, Consulting Services and Head of Business Consulting and Government Sector at EY Cyprus, said: “As we deepen and strengthen our long-standing relationship with Microsoft, we help our clients in Cyprus and throughout the world to remain at the forefront of technology and digital transformation. Our new offerings are of particular interest to sectors of particular interest to Cyprus, including finance and tax, which were previously underserved by technology. Our dedicated teams are now even better equipped to help companies and governments to save costs, utilize data more efficiently, become more agile and create long-term value.”

For more information, visit ey.com/microsoft.

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EY and Microsoft expand collaboration to drive growth and technology innovation (in Greek)

 

For more information:

Irene Charitou
EY Brand, Marketing & Communications

Notes to Editors

About EY

EY | Assurance | Tax | Strategy and Transactions | Consulting
EY is a global leader in assurance, tax, strategy, transaction and consulting services. The insights and quality services we deliver help build trust and confidence in the capital markets and in economies the world over. We develop outstanding leaders who team to deliver on our promises to all of our stakeholders. In so doing, we play a critical role in building a better working world for our people, for our clients and for our communities.

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