EY collaborates with SAP to continue advancement of blockchain deployment across industries worldwide
London, 14 November 2017
- EY Ops Chain is one of the first blockchain-based solutions designed for SAP® Leonardo
- Solution will support end-to-end supply chain processing on enterprises’ existing infrastructure
EY today announces that it is working together with SAP to further advance deployment of blockchain across industries worldwide. Under their existing alliance relationship, the organizations are collaborating to integrate blockchain applications and services with the SAP® Leonardo digital innovation system to help accelerate enterprises’ implementation of blockchain across their business operations.
EY Ops Chain, which is designed for customers to use to simplify supply chain management, is one of the first blockchain-based solutions that will be integrated on SAP Leonardo. Using EY Ops Chain, companies will be able to tightly integrate digital contracts, shared inventory and logistics information, pricing, invoicing and payments. This will improve forecast accuracy and fulfillment performance while reducing working capital requirements.
SAP Leonardo helps simplify innovating with new technologies and incorporates them into a customer’s business with full scalability. The digital innovation system encompasses services and technologies such as the Internet of Things (IoT), machine learning and blockchain. SAP Leonardo can transform “systems of record” — back-end systems, like enterprise resource systems (ERP) or customer relationship management (CRM), focused on managing workflow, business processes and records — into “systems of intelligence” that automatically detect, interpret and act upon large amounts of data.
Paul Brody, EY Global Innovation Leader, Blockchain Technology, says:
“Blockchains are quickly becoming routine tools for business processing that companies can use to manage and take action from the huge amounts of data their systems collect and process. This data is often collected across a disconnected, fragmented infrastructure. EY Ops Chain on SAP Leonardo will help companies quickly develop and deploy blockchain solutions that connect business operations across their systems, on a platform already widely used by companies worldwide.”
Saurabh Gupta, Chief Strategy Officer, HfS Research, says:
“Blockchain use cases are expanding to almost every vertical as enterprises realize its potential to create more distributed, equitable and more ‘tamper-proof’ business models. EY’s holistic understanding of a blockchain-based business strategy, combined with SAP Leonardo’s digital innovation capabilities, is a significant step forward in the deployment of blockchain for supply chain. Collaboration between industry leaders like EY and SAP will be essential to fulfilling the promise of blockchain.”
Juergen Mueller, SAP Chief Innovation Officer, says:
“Blockchain helps deliver secure and simplified data sharing in complex multi-party processes. With SAP Leonardo, we provide a toolbox for our customers to access and innovate with all the latest technologies, such as SAP Leonardo Blockchain capabilities. By joining forces with EY, we will work together on blockchain use cases for our customers to help them streamline their complex transactions in the digital economy.”
To learn more about the EY and SAP alliance, visit the EY microsite.
Note to editors:
EY is a global leader in assurance, tax, transaction and advisory 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.
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. For more information about our organization, please visit ey.com.
This news release has been issued by EYGM Limited, a member of the global EY organization that also does not provide any services to clients.
About HfS Research
HfS’ mission is to provide visionary insight into the major innovations impacting business operations: automation, artificial intelligence, blockchain, digital business models and smart analytics. HfS focuses on the future of operations across key industries. It influences the strategies of enterprise customers to develop operational backbones to stay competitive and partner with capable services providers, technology suppliers, and third-party advisors. Read more
SAP and other SAP products and services mentioned herein as well as their respective logos are trademarks or registered trademarks of SAP SE (or an SAP affiliate company) in Germany and other countries. See http://www.sap.com/corporate-en/legal/copyright/index.epx for additional trademark information and notices. All other trademarks are the property of their respective owners.
SAP Forward-looking Statement
Any statements contained in this document that are not historical facts are forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. Words such as “anticipate,” “believe,” “estimate,” “expect,” “forecast,” “intend,” “may,” “plan,” “project,” “predict,” “should” and “will” and similar expressions as they relate to SAP are intended to identify such forward-looking statements. SAP undertakes no obligation to publicly update or revise any forward-looking statements. All forward-looking statements are subject to various risks and uncertainties that could cause actual results to differ materially from expectations The factors that could affect SAP's future financial results are discussed more fully in SAP's filings with the U.S. Securities and Exchange Commission ("SEC"), including SAP's most recent Annual Report on Form 20-F filed with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of their dates.