Finance Technology solution

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.

Artificial intelligence

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.

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Your business challenge

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.
Alliance relationships include: Appian, IBM, Pega.

Process mining

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.

Why EY

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.

The Team

Deirdre Ryan

EY Global Finance Transformation Leader

Driving finance innovation. Seasoned advisor to finance executives. Passionate mentor. Former ice hockey player, avid sailor, active supporter of her children’s pursuits.

Stamford, USA

Steven Krueger

EY Americas FSO Integrated Finance Management GTM Leader; Principal, Financial Services Business Consulting, Ernst & Young LLP

Provides guidance to FIs on reimagining the operating model and vision of the finance function. Loves spending time with family and playing golf. Avid sports fan.

New York, USA

Deep Ghumman

Ernst & Young LLP Consulting Services Principal

Passionate about helping enterprises take the next leap on becoming more productive through the digitization of finance.

Los Angeles, USA

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Finance Technology solution

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Artificial intelligence

Advanced analytics

Intelligent automation

Your business challenge

Solution features and functionality

Why EY

Alliance relationships