Ernst & Young (EY) has been recognized as a WBA Winner for Business Technology in the World Business Awards 2022. The World Business Award for Business Technology [BTM] recognizes organizations that have successfully implemented initiatives that demonstrate excellence in business technology management.
At EY, our purpose is to build a better working world. The insights and quality services we provide help build trust and confidence in the world’s capital markets and economies. EY develops outstanding leaders who team to deliver their promises to all stakeholders. By doing so, EY plays a critical role in building a better working world for its people, clients and communities. EY helps digital pioneers fight data piracy, guide governments through cash-flow crises, unlock new medical treatments with data analytics and pursue high-quality audits to build trust in financial markets and business. Through EY’s four integrated service lines — Assurance, Consulting, Strategy and Transactions, and Tax, EY help its clients to capitalize on new opportunities and assess and manage risk to deliver responsible growth. Ultimately, EY works with entrepreneurs, companies, and countries to solve their most pressing challenges. EY’s diverse workforce includes more than 22,000 data scientists and 44,000 technology specialists – AI specialists, mathematicians, data scientists, software engineers, product managers and UX designers – working alongside people with backgrounds in strategy, consulting, accounting, finance, law and tax.
The advent of emerging technology is recasting all industries and requires businesses to embrace new capabilities to turn new technology into a new competitive advantage. EY recognized the need to change both – what they deliver and how they deliver in an agile manner. At EY Tax, they proactively anticipated this and adopted a forward-looking approach to responding to client’s evolving needs and demands with the changing landscape. At the heart of this new approach has been EY’s investment in EY GTP. EY GTP was launched worldwide in March 2019, providing clients with a secure global platform that consolidates their financial and operational data into one comprehensive tax view. This first-of-its-kind, world-class platform technology solution equips businesses with the ability to evolve and scale. Essentially, the EY Global Tax Platform (EY GTP) was designed to address the complex data management challenges that come with businesses’ evolving tax and financial needs.
To make EY GTP a reality, EY has invested more than $1B in its relationship with Microsoft to build the platform technology that underpins EY GTP. The EY GTP is designed to provide high-value, world-class returns to clients, High-value returns to EY people and High-value return to the EY tax business. Built on Microsoft Azure, EY GTP fuses Microsoft’s technology with the tax expertise at EY. This results in access to real-time data and clearer insights into opportunities, freeing up teams for more strategic and value-added activities. This unparalleled investment in a platform-based delivery approach has delivered exceptional returns for their clients, people, and business.
A pioneer in cloud-based business technology, EY GTP became available to EY clients worldwide in March 2019. It leverages the power of big data, advanced analytics and secure, cutting-edge technology to integrate data from EY clients’ existing IT systems to provide built-in data transformation, validation, calculation, and analysis. It applies advanced technologies to better understand clients’ businesses and help them to identify and manage obligations and opportunities based on their unique needs, aims and challenges. The customizable dashboards and workflow tracking allow clients a bird’s-eye view into their global operations and tax compliance requirements and invaluable business insights, including tax savings possibilities. EY’s GTP provides an approach to data acquisition that adheres to global standards and is aligned with our client’s timelines, budgets and goals. In addition, once the data is gathered, EY GTP’s cloud-based data lake centralizes data storage, enabling data repurposing across projects. The scalable, globally consistent coverage of EY GTP ensures that clients receive a seamless experience no matter where they have their reporting obligations—making this cloud innovation a critical component of modern business. No other provider is digitizing core tax compliance services at this pace while delivering the benefits of back-office modernization and user-centric technology. EY GTP has redefined how tax professionals operate and how clients’ needs are met.
Organizations such as American International Group (AIG), Duke Energy, Microsoft, Nokia and 6 of the FTSE top 10 companies have benefited from EY GTP with access to real-time data and clearer insights into opportunities, compliance and risks. Since its launch in March 2019, EY GTP has supported close to 2700 clients, 69,731 legal entities, and more than $3.5B in service revenues across 156 countries. It has transformed the way EY delivers tax services more cost-effectively and efficiently to clients, increased productive time for its people, and enabled reinvestment into the business of the future with increased margins in the business. EY is also a unique alliance partner to Microsoft and has been awarded the “Partner of the Year” three times for 2020, 2021 and 2022, along with fifteen other Microsoft awards for 2020-2022. These awards were driven by EY GTP innovation and the resulting tax and finance industry impact. EY GTP represents a major step forward for the global tax function and establishes a new tax technology cloud innovation standard.