EY announced the expansion of strategic alliance with ServiceNow to transform finance and tax services for the digital economy
- Agreement expected to increase the business value of the relationship to US$1b by 2025
- EY tax teams will help deliver new managed services supported by the ServiceNow Platform to help companies be more agile and productive
- Alliance will look to traditionally under-represented communities, specifically neurodivergent individuals, to fill critical roles for delivery and innovation
LONDON, Dec. 13, 2021 /PRNewswire/ -- The EY organization today announced a significant expansion of the organization's strategic relationship with ServiceNow to help companies be more agile and productive in an era of rapid change. With the pace of investment increasing, EY US and ServiceNow are expanding their relationship to better meet the needs of customers. Both will invest in and develop new offerings aimed at streamlining complex enterprise operations, with a strong focus on addressing emerging challenges in finance and tax services. The expanded alliance is expected to increase the business value of the relationship and help accelerate the EY organization's goal of creating a US$1b business with ServiceNow by 2025.
Carmine Di Sibio, EY Global Chairman and CEO, says:
"As the breadth and depth of the relationship between the EY organization and ServiceNow continues to increase, we could not be more excited about the new opportunities this expanded collaboration will present. Together, we will make great strides in automation, efficiency and helping ensure both EY and ServiceNow clients and people have a frictionless technology experience."
Bill McDermott, ServiceNow CEO, says:
"Leaders in every industry recognize their technology architecture is their business architecture. The EY organization's deep functional and industry vertical experience will help accelerate adoption of the ServiceNow platform. Together we will deliver substantial value to customers as they digitally innovate their businesses to capitalize on the biggest market opportunity ever."
Revolutionizing finance and tax services
The shift to the new world of work, anticipated tax reform initiatives and an explosion of data have made the highly complex tax and finance functions even more complicated. As a result, companies are rethinking how they can automate tax and finance processes to make work flow across multiple departments and systems. In fact, 83% of senior global executives say their finance talent will shift from technical focus to data, process and technology skills over the next three years.
EY teams and ServiceNow will address these opportunities by helping companies identify and automate internal financial workflows to unlock productivity and deliver great experiences for their employees. EY teams and ServiceNow will streamline reporting, documenting and approval processes for finance professionals, incorporating new or evolving requirements while decreasing opportunity for error. Clients across the financial services, life sciences, manufacturing, and power and utilities industries, and the public sector are already benefiting from the alliance.
Building digital skills for the future
As part of the expansion, the companies will also recruit and develop new sources of technically skilled talent as demand for ServiceNow developers, analysts and consultants grows. EY teams and ServiceNow will look to traditionally under-represented communities, specifically neurodivergent individuals (e.g., individuals with autism, Asperger's, dyslexia and ADHD etc.), to fill a variety of critical roles. As part of a global program, EY teams will extend its existing EY Neuro-Diverse Centers of Excellence (CoE) and will establish the ServiceNow Neurodiversity Delivery Center. The program will train participants, who will engage directly with ServiceNow Customer Outcomes and the EY ServiceNow Practices for a range of technology roles, including developers, testing analysts and consultants. Along with similar existing skills development programs from ServiceNow, individuals from the ServiceNow Neurodiversity Delivery Center will use their often-untapped capabilities, such as analytical thinking, complex problem-solving and technology design, to fill critical positions for the EY organization. The offering will be expanding further to both EMIEA and India over the next six months, following the initial US launch.
Powering the digital economy
In addition to finance and tax services, EY teams and ServiceNow will deliver offerings and services focused on a broad range of business and industry-specific areas, including operational technology and efficiency, HR service delivery, risk management, risk and compliance, and business services.
EY teams will help implement the ServiceNow platform to enhance operational efficiency and user experience for EY professionals and clients. EY teams will also expand their use of ServiceNow solutions with plans to implement ServiceNow Customer Workflows and Creator Workflows that will power the EY managed services for tax and payroll outsourcing, as well as wealth management.
For more information, visit ey.com/servicenow.
About EY
EY exists to build a better working world, helping create long-term value for clients, people and society and build trust in the capital markets.
Enabled by data and technology, diverse EY teams in over 150 countries provide trust through assurance and help clients grow, transform and operate.
Working across assurance, consulting, law, strategy, tax and transactions, EY teams ask better questions to find new answers for the complex issues facing our world today.
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. Information about how EY collects and uses personal data and a description of the rights individuals have under data protection legislation are available via ey.com/privacy. 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.
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