The News: ServiceNow and EY announced an expansion to their strategic partnership in the hopes of helping companies be more agile in the digital era. Each company will invest in developing new offerings that will streamline complex enterprise operations, with a strong focus on addressing emerging challenges in finance and tax services. Read the full press release on EY’s website here.
ServiceNow and EY Expand Strategic Partnership to Transform Tax Services for Digital Age
Analyst Take: If there is one segment of business that has benefited most from technology advancement, it’s financial services. In our digital world, tax reform initiatives, various regulations in different jurisdictions, and the explosion of data have made financial operations incredibly complex. According to a 2020 survey, 85% of accountants think that keeping up with the pace of technology adoption is critical for advancement in the field.
Which is why ServiceNow and EY’s partnership expansion bodes well for enterprise organizations looking to streamline their finance and tax processes.
Details of the Expanded Partnership
The expanded collaboration between the two companies will present new opportunities for all EY and ServiceNow clients. Details of the partnership include:
- Investing in new solutions: Each company will invest money to develop new solutions that will streamline reporting, documenting, and approval processes.
- Powering the digital economy of the future: EY clients will gain access to different ServiceNow workflows to enhance other operational efficiencies.
- Digital skills for the next generation of work: Both companies are committed to helping underrepresented communities and neurodivergent individuals. As a result, the expand partnership will create the ServiceNow Neurodiversity Delivery Center, which create STEM employment opportunities and career development.
More to Come from ServiceNow
ServiceNow has expanded partnerships, made strategic acquisitions, and continued to outperform earnings expectations over the last few years. And it’s no surprise. I continue to stand by my assessment that the company is well on its way to mega cap status in the coming 18-24 months. I’m sure more moves are to come from the company as it continues its mission to change how people work.
Disclosure: Futurum Research is a research and advisory firm that engages or has engaged in research, analysis, and advisory services with many technology companies, including those mentioned in this article. The author does not hold any equity positions with any company mentioned in this article.
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Image Credit: The World Economics Forum
The original version of this article was first published on Futurum Research.