Recognizing the value in data nerated by professional cyclists, captured but not monetized, EY worked with a startup consortium and upended the business model for cycling teams, creating a new revenue stream and changing the riders from captive to tour organizers to data and experience providers. This client study echoed throughout EY’s Technology Summit as the firm repeatedly showcased its ability to lead clients through digital transformations. Critical to the company’s approach has been balancing separation and connectivity ? separation to create change, such as cyclists building a consortium to own their data, and connectivity to ensure technology changes meet security and compliance needs — enabling transformation that is both seamless and disruptive. The firm convincingly brought forward the message they can be hustlers (in a good, hard-working, get-it-done sense), hackers (making emerging tech work for them) and heroes (driving lasting business change).
At its Toronto wavespace, EY hosted TBR and around 30 analysts for two days of executive-level discussions, client briefings, and product and solution demonstrations by EY technology consulting professionals. The clients came from various industries, from banking to biking to consumer goods to energy, and participated in both the executive sessions and informal discussions, allowing TBR opportunities to gain deeper insights into the client-EY relationships. The company also included technology partners, such as Microsoft (Nasdaq: MSFT) and SAS, demonstrating the close cooperation EY believes it brings to its clients.
Behind EY’s digital transformation offerings, the firm has both assets and accelerators. In some engagements, the firm collects licensing fees on the former while deploying the latter to enhance efficiency and time to value. Looking at the company with a long-view lens, TBR sees a firm that has developed technology capabilities across core and emerging technologies to a point at which EY can alter its business model, taking advantage of legacy consulting skill and carefully honed managed services offerings, layered with the full scope of digital transformation. On top of this, EY consistently puts forward a practical, get-it-done message, reinforcing that the firm knows its clients’ business, knows technology, and can deliver immediate value beyond strategy and even beyond consulting.
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