When finance moves into the cloud will CFOs sleep better at night?



When finance

moves into the

cloud, will CFOs

sleep better at


Finance in the cloud

October 2015

The better the question. The better the answer.

The better the world works.



Executive summary 2

2 Cloudy forecast 3

3 A silver lining 6

4 Ride the lightning, don’t crash like thunder 8

5 Conclusion 13

Finance in the cloud



Executive summary

What CFOs need to know about cloud


A new era of cloud-based technology brings an unprecedented period of disruption and

innovation. However, cloud technology is still immature and has many associated risks. Despite

this, forward-looking CFOs recognize the shifting dynamics and are increasingly looking to cloud

solutions to address a variety of business needs.

While there are many tangible business benefits to implementing cloud offerings, including

flexibility, scalability and enhanced analytics, delivering cloud transformation is extremely

challenging. Cloud computing requires a considerable shift from traditional computing methods,

roles and business processes. Moreover, there are some key misconceptions surrounding the

adoption of cloud services that must be addressed.

In order to gain optimal benefits from cloud computing technology, organizations must first

conduct due diligence based on business needs and required IT functionality in order to determine

business readiness for cloud adoption.

Adopting hybrid cloud solutions uses agile innovation to maximize the benefits of cloud

computing while minimizing disruption and maintaining operational excellence.

© 2015 EYGM Limited. All rights reserved. Finance in the cloud 2


Cloudy forecast




mainframes with



systems and local

area networks


On-premise ERP

offerings and early

cloud solutions

(i.e., salesforce


Cloud solutions

(applications, data

centers, APIs and


1960s 1970s 1980s 1990s Today

Is the cloud just smoke and dust?

The landscape for IT-enabled transformation is

experiencing another major paradigm shift, and

cloud” is the latest buzzword. Organizations of all

sizes are taking flight into the nebula, including

governmental bodies such as the UK’s G-Cloud

program and the Federal Cloud Computing Initiative in

the US.

EY’s Global Technology Center (GTC) has hailed the

era of cloud computing as bringing about change

faster, more continuously and from more directions

than ever as a dizzying array of hardware and

software services available over the internet have

emerged over the past few years. 1 According to EY’s

2014 Global Information Security Survey (GISS), 39%

of respondent organizations plan to spend more on

cloud computing compared with the previous year. 2

Yet, despite the rapid escalation of cloud services use,

EY’s Insights on governance, risk and compliance

shows many executives remain hesitant to endorse a

cloud-first” approach. 3 Moreover, 17% of

respondents to EY’s GISS indicated cloud computing to

be a first-priority vulnerability and potential source of

increased risk. 2







As such, finance decision-makers increasingly walk

under the shadow of cloud offerings.

The benefits of cloud adoption are highly touted.

However, over a decade ago, on-premise enterprise

resource planning (ERP) solutions made similar

promises. Although the trigger for rushed ERP

implementations in the 1990s was the much-fretted

Y2K calamity. Y2K concerns turned out to be largely

unfounded, and many finance executives would now

argue that they have yet to reap genuine, tangible

benefits from investing in costly ERP systems.

Although a company’s financial management system is

critical to success, EY is finding that many

organizations have systems averaging from 10 to15

years old, with upgrade cycles ranging from 5 to 10

years. Despite aging legacy systems, many finance

decision-makers are hazy on how cloud solutions are

really any different from the ERP solutions hyped in

the previous decade.

Is cloud computing the answer to disparate systems

and unstandardized process woes, or is the cloud just

a nebulous solution that will inevitably lead to yet

another costly and disruptive IT-enabled








Spend the












Thirty-nine percent of respondent organizations plan to

spend more on cloud computing compared with the previous


Source: EY’s GISS, 2014.

Seventeen percent of respondents indicated cloud computing

as a first-priority vulnerability and as a source of increased

risk exposure over the last 12 months.

1 EY, Top of Mind, Issues facing technology companies: Navigating the four themes of technology, 2015.


2 EY, Get ahead of cybercrime: EY’s Global Information Security Survey 2014, 2014.


3 EY, Building trust in the cloud: Creating confidence in your cloud ecosystem.


© 2015 EYGM Limited. All rights reserved. Finance in the cloud 3


What does “cloud” mean?

Cloud computing

Cloud computing allows users to rent access to a

variety of virtual computing options, conveniently,

ranging from network-accessible data storage and

software development environments to fully featured

applications. 1 As such, the data and applications are

not required to be stored on local servers or “onpremise”;

rather, they are hosted and managed by

third-party cloud service providers (CSPs).

Enterprises essentially outsource varying levels of IT

functionality to CSPs, and users only need an internet

connection to access the data and applications via

virtual servers. By moving into the cloud,

organizations have the potential to reduce greatly, or

even eliminate, the total cost of ownership (TCO) of

the IT function, thereby forever altering their business

model. 2

Cloud models

The US National Institute of Standards and Technology

(NIST) published a definition of cloud computing that

includes two key cloud models: Cloud Service and

Cloud Deployment. 1

The primary Cloud Service models or ‘stacks’ are

Infrastructure as a Service (IaaS), Platform as a

Service (PaaS) and Software as a Service (SaaS); each

with increased levels of IT functionality outsourced to


As the level of functionality increases, transparency

into data processing decreases.

SaaS is the model used for cloud ERP systems, thus

cloud accounting systems are often referred to as

SaaS solutions.

These primary Cloud Service models can be

implemented via four Cloud Deployment models:

public, private, community or hybrid; each with

decreasing data control and privacy.

Cloud decisions

In order to truly comprehend and realize the benefits

that cloud computing brings, finance decision-makers

must understand the implications of deploying

different permutations of the cloud models. The

appropriate combination of the two cloud models will

vary based on an organization's requirements, as

different models of configuration will be appropriate

for different organizations.

In EY’s experience, CFOs who lack a solid

understanding of cloud configuration models are

increasingly at risk of missing key potential business

benefits that more informed competitors may well

seize, putting them at a competitive disadvantage. 3

Cloud adoption configurations

Increasing functionality


Network access to traditional computing

resources such as processing power and


1. Cloud Service model (aka stacks)


Environment for customers to use to build

and operate their own software


Access to software applications such as email

or office productivity tools

2. Cloud Deployment model

Decreasing control



Public cloud



Hybrid cloud

Operated solely for a single


May be managed by internal

or external IT

May be on or off premise

Available via the internet to

the general public or a large

industry group with thirdparty


Supports a specific community of

organizations that have shared

concerns via a private network

May be managed by internal or

external IT and may be on or off


Two or more clouds (public

or private, community)

bound by standardized

proprietary technology for

data and application


Note: illustration based on the US NIST cloud models. 1

1 The definitions of cloud computing and service models and deployment models excerpted from the US National Institute of Standards and Technology (Cloud Computing Synopsis and Recommendations

Special Publication 800-146).


2 EY, Into the cloud and out of the fog: EY’s Global Information Security Survey, 2011.


3 EY, Insights on governance, risk and compliance, Ready for takeoff: Preparing for your journey into the cloud, 2012.


© 2015 EYGM Limited. All rights reserved. Finance in the cloud 4

In order to truly comprehend and

realize the benefits that cloud

computing brings, finance decisionmakers

must understand and determine

the right blend of cloud models.

Christian Mertin, Advisory Partner (Ernst & Young, GmbH)

© 2015 EYGM Limited. All rights reserved. Finance in the cloud 5


A silver lining

As many organizations continue to face challenges with existing ERP solutions, they are looking to cloud offerings as

an improvement over existing on-premise systems. CFOs looking to optimize and streamline their finance functions

for cost reduction and efficiency will find cloud solutions attractive. Cloud services have much to offer the finance

function, as there are several tangible benefits that don’t exist or cannot easily be gained within on-premise financial

systems. The cloud can also assist in distributed environments, such as across local finance and shared services, to

ease end-to-end processes. Moreover, as cloud solutions continue to mature, offerings supporting core financial

management applications are becoming more commonplace.


According to the Cloud Accounting Institute’s 2014

Cloud Accounting Solutions Best Practices Benchmark

Study, respondents’ finance teams indicated that

wasted effort represents a major drawback of current

systems, with as much as 70% of time spent on

manual or suboptimal efforts. 1 Outsourcing computing

capabilities to CSPs enables an organization's

resources to focus on more strategic activities.

Furthermore, traditional IT models demand massive

infrastructure investments with complex

architectures. Adopting a cloud model means

organizations no longer need to build and maintain

complex internal IT infrastructures, thus enabling cost

efficiencies through overhead reduction and reduced

costs of the IT function. This also increases time

savings while decreasing energy costs.


As most cloud ERPs are out of the box, a baseline level

of standardization is built into most cloud services.

This forces a certain level of data and process

standardization upon cloud migration.

Moreover, system upgrades in the cloud ensure all

users of the financial management system have

access to the most up-to-date version. This also helps

to improve collaboration across different entities and



Cloud models generally enable companies to pay only

for cloud resources based on measured service or on a

‘per usage’ basis. This flexibility allows them to remain

a cloud customer and pay only for access to the

infrastructure and applications they need. Instead of

paying for it all up-front, including more capacity than

they may need right away, cloud customers pay only

for what they use – and only when they use it. 1 Thus,

cloud services shift upfront capital expenditures to

operating expenditures, which can ultimately result in

large cost savings to the organization.


Scalability or “elasticity” is inherent to any cloud

model, thus businesses have the ability to scale backoffice

functions rapidly in response to business growth

or reduce the size of the business during a downturn

or recovery.

The pace and ease with which cloud systems can be

deployed allow organizations to test new markets

more easily. This scalability allows for a truly agile

approach, to support organizational structure changes

as well as the ability to absorb acquired entities

quickly into the financial management system.

1 Cloud Accounting Institute: Cloud Accounting Solutions Best Practices Benchmark Survey, 2014.


2 EYInsights on governance, risk and compliance, Ready for takeoff: Preparing for your journey into the cloud, 2012.


© 2015 EYGM Limited. All rights reserved. Finance in the cloud 6


The role of finance has traditionally been as a record

keeper to the business. However, enhanced analytics

enable the CFO to become a strategic partner within

the enterprise. Whereas previously, analytics and

business intelligence capabilities resided in separate

applications, these capabilities are now embedded

within cloud-based applications.

Cloud models which employ ‘in-memory’ computing

provide the ability to access real-time data on demand,

allowing organizations to identify issues within the

business quickly and respond more efficiently.

Moreover, whereas on-premise solutions can only

provide analytics based on an organization's own data,

CSPs can now consolidate anonymized data across

cloud tenants, thus providing a much broader range of

business intelligence that could not otherwise be

accessed from an on-premise solution.

The enhanced analytic capabilities that cloud offerings

bring also help organizations to develop more robust

KPIs by which to measure their business performance.

“Close optimization” not “fast-close”

To become world-class, finance must evolve from a

traditional close process that follows sequential steps

and is riddled with the potential for errors. Instead,

savvy finance executives know that it’s not just about

a “fast-close” process, it’s about “close optimization.”

The availability of real-time data on demand enables

finance to manage financial information continuously,

right up to the start of the close process. This ability

not only allows for a much more rapid close cycle, it

also increases the accuracy of reported data.

Moreover, cloud computing can also automate the

close process, allowing key functions to run in parallel

during the close, thus optimizing the overall close


EY case study – creating a new finance and IT function in 90 days

Client: publicly held European technology company | Engagement: day-one readiness

The company announced that it was selling its core

operating division and engaged EY to support


The transaction, subject to intense anti-trust review

prior to regulatory approvals, was set to be

completed within 90 days and at year-end. The ERP

system, finance shared services and the majority of

employees would be transferred to the acquiring

firm on the deal date along with the back-office


The company needed to create a finance function

to ensure operational readiness within 90 days,

with no transitional service agreement for functions

or systems.

EY assisted with a number of workstreams across

the day-one readiness program to implement

SAP’s Business ByDesign (BYD), a cloud-based

SaaS solution.

EY’s involvement included building the client’s IT

structure; planning and creating business critical

communications processes; and designing and

building their finance and controls capability.

EY had to be innovative and create approaches

that would suit the future business, including

building smart mobility into the cloud solution

and, enabling access to applications using

smartphones and a 4G connection.

© 2015 EYGM Limited. All rights reserved. Finance in the cloud 7

4 Ride the


don’t crash



Cautious cloud computing

Despite the many benefits of cloud solutions, cloud

offerings are still immature, and there is a lack of

authoritative literature and standards governing cloud

computing. As such, misconceptions regarding cloud

migration and adoption abound. It’s important that

finance decision-makers seek a greater understanding

of the deeper and often lesser-known challenges and

risks of cloud adoption.

EY has noted that, like most technological evolutions,

the cloud presents its share of risks and challenges,

which are often overlooked or not fully understood by

businesses quick to embrace it. 1

Right cloud model

The most critical decision an organization must make

is to determine the right blend of cloud models;

specifically which service and deployment models are

best suited for the organization in the long term. This

will determine the level of functionality, control and

privacy necessary for cloud adoption and

sustainability. It is critical to get this right premigration.

EY have noted that organizations that adopt a public

cloud strategy for cost reasons often later discover

that they are essentially subsidizing the costs of cloud

upgrades for joint tenants. Within a public cloud, there

is no pre-established standard to share costs with

other tenants, let alone find out easily who they share

joint tenancy with.

Furthermore, private clouds must also be approached

with caution, as customization can be costly and there

is limited interoperability with on-premise systems.

Cloud security

Third-party data management and storage open up

new areas of risk that did not previously exist.

Processing data over the internet, as opposed to

processing it internally on a company’s network,

massively increases data vulnerability. The cloud also

brings new challenges when it comes to identity and

access management as well as authentication and

encryption. Moreover, backup of data may not be

entirely transparent in a cloud solution.

CSPs often claim that cloud security is more robust

than on-premise solutions; however, on-premise

security can vary by organization and across

industries. As cloud computing is still an emerging

technology, the full risks of adoption and long term

tenancy remain an unknown.

Before organizations hand over the keys to the

enterprise kingdom to a CSP, EY recommends rigorous

review of cloud-based SLAs. CSPs often offer standard

SLAs that generally limit liability of the CSP. For some

organizations, there may be a need for increased SLA

negotiation in order to mitigate increased security


1 EY, Insights on IT risk Business Briefing: Ready for takeoff, preparing for your journey into the cloud, 2012.


© Finance 2015 EYGM in Limited. the cloud All rights reserved. 8

EY approach for

evaluating cloud

solutions and adoption

Change imperative

General and

transactional benefits

What are the change


How can the cloud help?

What are the transactional

benefits in the cloud?

Cloud compliance challenges

CFOs are also concerned when it comes to compliance

issues within the cloud. It is often not clear where the

data actually resides, creating real challenges for legal

compliance and privacy. This is particularly true within

the banking and insurance industries. As such, cloud

adoption within the financial services industry lags far

behind other industries.

While cloud computing is largely considered

borderless, compliance is not, and organizations must

be aware of where a CSP’s servers are physically

located. US Securities and Exchange Commission

(SEC) listed companies with overseas operations, such

as in Europe, must take into account the risks of using

an overseas public cloud, whereby resources are

shared among entities on the same cloud server.

Furthermore, many organizations must comply with

laws that restrict transborder information flow.

For many publicly listed US companies, cloud adoption

may not be an option if the servers are based


Cloud integration isn’t a breeze

Many CFOs may have the preconceived notion that

they hand over the data and CSPs will take care of

everything. However, cloud adoption is much more

involved. Cloud migration, especially for large

multinational organizations, can often be highly

complex, with an enormous amount of systems

integration activity. Much planning is required in order

to get to data portability and interoperability with the

cloud. Moreover, the deployment stages can be very

costly and resource intensive.

Furthermore, implementing cloud computing requires

a considerable shift from traditional computing

methods and business processes. The key is

determining what tasks need to be accomplished, and

whether the enterprise is more concerned with the

time taken to complete the project or with the ongoing

costs once it’s completed.

Genuinely reduced TCO?

There is also a common belief that cloud migration has the potential to reduce internal IT operations significantly

or eliminate them altogether. Ideally, the cost reduction should enable the business to free up IT resources to

engage in technology-led innovations. But there is a question about whether IT resources that have traditionally

maintained systems have the innovative skillsets to truly contribute toward corporate strategy.

Organizations must also consider the skillsets of existing IT and finance staff and determine what skills will be

needed, not just for cloud migration but also for ongoing cloud residency. CSPs generally only offer tiered support

within cloud solutions. Moreover, required training for ongoing cloud usage is largely self-service, and

organizations must allot adequate time to accommodate a learning curve before reducing IT resources.

Furthermore, cloud solutions rarely result in a complete elimination of IT resources. Rather, a specialized

knowledge of managing complex service level agreements is required to manage the complexity of cloud migration

and sustainability successfully. EY recommends that organizations consider appointing a cloud finance subject

matter professional who not only understands the total cost of cloud services ownership, but can also track service

consumption along with cost transparency.

© 2015 EYGM Limited. All rights reserved. Finance in the cloud 9

Key considerations

Cloud service model

Cloud deployment


What is the business and IT

maturity, complexity and

regulatory environment?

How much cloud use?

How much data control and

privacy is required?

Cleanse your data to a single version of truth

A single version of the truth is often cited as a top

benefit of cloud adoption. Despite the prior ERP

revolution over a decade ago, many companies still

struggle with a tangle of inconsistently defined data

residing within disparate systems.

Organizations looking to adopt cloud technology must

first lay the groundwork by cleansing their data and

standardizing processes across the enterprise as much

as possible prior to cloud migration. It’s a mistake to

rely on the cloud to standardize an organization's

processes automatically and immediately. Mapping to

a cloud solution can aid an organization to get to a

single chart of accounts, but that’s an undertaking

that can be time-consuming and resource intensive.

CFOs must recognize that – much like on-premise

solutions – what goes into the cloud is largely what

you’ll get out of the cloud.

Organizations must also consider the complexity of

the existing processes and functions. As many cloud

solutions are out of the box, organizations must

consider if the same level of complexity should be

maintained in the cloud. It’s important to recognize

that automation isn’t useful if the business process

being automated is already fragmented.

Getting to a single version of the truth is often a

difficult journey, with or without cloud migration. The

key to a successful transformation lies in adopting a

systematic approach with simplicity and

interoperability as the focus.

Cloud enhancement

It’s also important to look to the cloud for enhanced

capabilities and not just a transfer of what currently

exists on-premise.

Organizations with complex functions and processes

often believe they can translate the business as is, and

the cloud will sort everything out. While this may be

true to a certain extent, as cloud offerings enforce a

certain level of standardization, the cloud does not

discern between simple and complex processes.

It’s important that a pre-migration simplification

endeavour is undertaken in order to obtain optimal

enhanced functionality from cloud solutions.

Embrace hybrid solutions

Although one of the major benefits of cloud solutions

is flexibility, it’s important to recognize that, due to

the inherent nature of existing cloud models, cloud

offerings are largely out of the box. Thus cloud

computing is not one size fits all.

As such, organizations must often conform their

business processes to the technology. This has its

benefits, as it forces organizations to standardize their

functions and processes. However, depending on the

maturity and inherent complexity of a business, outof-the-box

solutions may not provide much needed


CFOs must also be aware that customizing cloud

technology to conform to the business can be an

exceedingly costly and resource-heavy undertaking

that can often be just as costly as customizing an onpremise


As such, mapping an entire organization's business to

a cloud solution may not always make sense. Thus, a

hybrid approach allows businesses to take advantage

of the cloud in an agile fashion by enabling migration

of certain applications to the cloud, while

simultaneously winding down existing on-premise


Finance decision-makers must look at the enterprise

as a whole to determine which areas of the business it

makes the most functional and financial sense to

deploy as a cloud service, and which business

functions can and should be continued to be

maintained on-premise.

© 2015 EYGM Limited. All rights reserved. Finance in the cloud 10

With the hybrid

deployment models

available with SAP

Simple Finance,

customers can

choose their own

blend of cloud

solutions and onpremise



organizations with

ease of use and

ease of


without limiting

their access to

SAP’s deep Finance


Thack Brown, GM,

Global Head LoB Finance,


© 2015 EYGM Limited. All rights reserved. Finance in the cloud 11

As CFOs devote more time to strategic

issues that affect the business, the

focus should be on getting the right

operating model in place.

James Meader, Advisory Partner (Ernst & Young, LLP)

It’s about the operating model

Any decision to adopt cloud services should ultimately be driven by business needs and goals alongside enterprisewide

strategy. Global CFOs and finance decision-makers at leading organizations are transforming their internal

structures and processes to ensure they are well positioned to optimize strategic opportunities.

The starting point of any transformation, regardless of scale, entails deploying the right enterprise operating


While the cloud service and deployment models are key components of any cloud adoption approach, the operating

model encompasses an organization's wider strategy.

The enterprise operating model encapsulates the financial, operational and technology environments that provide

an organization structure, along with the most effective and efficient processes.

The operating model enables an organization to align its business with its strategic vision. Finance can continue to

provide traditional roles; however, the optimal operating model will empower finance to become a strategic partner

with the ability to help the organization realize value-added, tangible business benefits.

For CFOs, cloud-based solutions are not just about streamlining the finance function and reducing IT costs, they

are about enabling finance to become a strategic partner and a catalyst in driving the business forward; the

operating model is the starting point.

© 2015 EYGM Limited. All rights reserved. Finance in the cloud 12



Cloud computing is rapidly evolving and finance

executives, more than ever, are finding they must

navigate an unprecedented period of disruption and


CFOs who truly understand cloud technology, as well

as the associated challenges and risks, are better

placed to manage the impact of cloud computing on

the finance function and potentially gain a competitive

advantage over less informed competitors.

Moreover, CFOs must engage an agile innovation

strategy focused on deploying the right operating

model in order to realize fully the benefits of cloud


In EY’s experience, organizations that fail to make a

robust cloud risk assessment often need to make

subsequent, costly changes to the cloud model,

thereby negating any savings gained from cloud


EY recommends that organizations develop a clear,

attainable cloud strategy, including an appropriate

operating model accompanied with a cloud risk

management approach to mitigate risks and avoid a

premature move to the cloud.

EY has a proven framework for cloud models, along

with risk assessments and broad-based diagnostics to

evaluate and optimize a cloud strategy that enables

minimal disruption while accelerating an organization's


The author of this report and key contacts for more information are listed below:

Nisha Buckingham


+44 20 7951 3241


James Meader


+44 20 7951 0045


Christian Mertin


+49 89 14331 13590


Tony Klimas


+1 212 773 5949


© 2015 EYGM Limited. All rights reserved. Finance in the cloud 13

Why EY?

EY Advisory: at EY, our purpose is to build a better

working world for our clients, our people and our


For Advisory, a better working world means solving

big, complex industry issues and capitalizing on

opportunities to help deliver outcomes that grow,

optimize and protect our clients’ businesses. The

unique and ongoing collaboration between EY

consultants and our clients results in better

working businesses.

Outcomes and results: we are driven by answers

and outcomes, and measure success by the results

we deliver. Our clients face a world of constant

change and unpredictability, which requires new

ways of thinking. A successful project leads to

sustainable growth, knowledge sharing and a

legacy of a better working client organization.

Collaboration: collaboration is at the heart of our

culture and who we are. With every client, we work

relentlessly to listen, challenge and refine the

thinking to arrive at a truly co-created outcome

and valued client experience.

Cloud computing knowledge: EY has proven

frameworks and technology assessments based on

leading practices and standards. We combine

thought leadership with real-life implementation

experience to help clients manage risk.

Agile Business Finance: EY has a holistic approach

to address the impact on the entire finance

organization, including finance process

innovation/flexibility, IT simplification and

Implementation of SAP Simple Finance.

Breadth of capabilities: our breadth of capabilities

in growth, risk, strategy and execution services

enables us to become a trusted collaborator, no

matter where our clients are in their life cycle or

what market issues they face.

Global footprint: our ecosystem is a globally

connected, fluid and adaptive network of talent

that spans the breadth of the whole Advisory

practice, our sector centers of excellence and all

other service lines, as well as relevant external

third parties. It ensures we approach our projects

in unexpected ways to deliver better working


© 2015 EYGM Limited. All rights reserved. Finance in the cloud 14

EY | Assurance | Tax | Transactions | Advisory

About EY

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.

About EY Advisory

In a world of unprecedented change, EY Advisory believes a better

working world means solving big, complex industry issues and

capitalizing on opportunities to help deliver outcomes that grow,

optimize and protect clients’ businesses.

From C-suite and functional leaders of Fortune 100 multinationals to

disruptive innovators and emerging market small and medium-sized

enterprises, EY Advisory teams with clients - from strategy through

execution - to help them design better outcomes and deliver longlasting


A global mindset, diversity and collaborative culture inspires EY

consultants to ask better questions. They work with the client, as well

as an ecosystem of internal and external experts, to co-create more

innovative answers. Together, EY helps clients’ businesses work


The better the question. The better the answer. The better the world


© 2015 EYGM Limited.

All Rights Reserved.

EYG/FEA/OC no. AU3452

ED None

This material has been prepared for general information purposes only and is not intended to

be relied upon as accounting, tax, or other professional advice. Please refer to your advisors

for specific advice.


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