EY Unveils Finance Service Built on SAP Cloud Technology
EY has launched an Integrated Finance Managed Service solution that utilises SAP S/4HANA Cloud to handle enterprise functions across finance, human resources and operations.
The service combines SAP's cloud-based enterprise resource planning software with EY's expertise in finance operations. EY has joined the SAP PartnerEdge programme as a managed services provider, cementing the collaboration between the two organisations.
The solution targets companies that want to focus on growth while outsourcing non-core functions that often consume management time and resources.
It covers human resources, payroll, finance operations, controllership, financial planning and analysis, treasury and tax, including application management.
Technology infrastructure and client deployment
The service is built on a data infrastructure that incorporates SAP's cloud technology and EY's industry experience. It aims to provide companies with the tools to scale operations, enhance efficiency and redirect capital away from technology maintenance.
Thomas Saueressig, Member of the Executive Board of SAP SE for Customer Services & Delivery, says: "Through this collaboration with EY, we are combining SAP's leading cloud suite, enriched with Business AI capabilities, and EY teams' deep domain and industry experience to help deliver better insights and drive better outcomes for customers."
The offering will support finance departments seeking to deploy machine learning and automation tools without building the infrastructure themselves. By outsourcing these functions, companies can maintain compliance while focusing on their core business.
Case study shows pharmaceutical application
EY has highlighted IntraBio Inc., a pharmaceutical company, as an early adopter of the service. IntraBio has used the Integrated Finance Managed Service to reorganise its financial, human resources and accounting processes.
By outsourcing these functions to EY, IntraBio maintained focus on its primary goal of developing pharmaceutical products.
This approach appears to have yielded results, with the US Food and Drug Administration approving IntraBio's treatment for Niemann-Pick Disease Type C, called AQNEURSA, on 24 September 2024. The drug has since launched in the US market.
The case demonstrates how pharmaceutical companies, which often face lengthy development cycles and regulatory hurdles, can benefit from outsourcing operational functions to maintain focus on research and development.
Raj Sharma, EY Global Managing Partner for Growth and Innovation, says: "The world's most innovative companies with bold growth and transformation plans are often weighed down by non-core tasks, diverting valuable executive time and resources.
“Well-structured enterprise functions are critical to scaling and sustaining success, but without the right support, it can become a distraction from the strategic priorities that drive real value."
The targeting of high-growth companies suggests EY sees a market for finance operations among organisations that lack the scale or resources to build these capabilities internally but need them to satisfy investors and regulators.
Marie-Laure Delarue, EY Global Vice Chair for Assurance, says: "Businesses and their finance functions face intense challenges at the best of times, as they strive for growth in competitive markets.
“In today's volatile economic and geopolitical climate, these challenges have only intensified. Through Integrated Finance Managed Services, we're able to lift some of the burden that often hinders business transformation efforts, meaning they can turn their attention to the real drivers of success."
The solution launches at a time when finance departments are under pressure to improve efficiency while maintaining compliance with ever-changing regulations.
For fintech companies that often rely on lean operations, the ability to outsource finance functions while maintaining control over core technology could provide a path to scaling without expanding headcount.
Sharma concludes: “We believe this solution can fundamentally change how clients think about their enterprise functions.”
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