Accessability Links
Cookies on our website
By continuing to use this website we will assume you are happy to receive cookies as outlined in our cookie policy
Accept Policy

Investment in tech and people drives EY results

Nov 03
 
Tags: Ernst & Young LLP
Share this story:
Investment in tech and people drives EY results

EY has unveiled strong results for the year to the end of June 2017, with a 9.2 per cent rise in fee income to £2.35 billion and an overall rise in revenues of 7.8 per cent to US$31.4 billion (£24 billion).

The company said this growth had not happened by chance, but was the result of a record year of investment in tech and extensive new recruitment to expand the firm's base.

EY's UK chairman Steve Varley commented that the year's success was a consequence of the further implementation of the firm's "long-term global strategy".

He stated: "We have invested in new technologies and our people, as clients turn to us for more innovative products and services and adapt to domestic and global economic trends."

Human resources investment included the recruitment of nearly 4,000 people, including 1,500 students. 

Tech investment saw spending on new innovations such as the Capital Allowance Automatic Review Tool, which is designed to do 35 hours of work in just one minute by using machine learning to assign the correct tax codes to clients. 

Another tech investment was in EY Absolute, a cloud-based book-keeping, accounting and tax service. 

Further spending has taken place in emerging areas such as robotics, fintech, cyber, artificial intelligence and audit technologies. 

"It has been a record year of tech investment which will continue into FY18 as we support our clients to transform their businesses. These investments will contribute to growth across all our service lines and sectors," Mr Varley noted. 

EY's advances took place right across all four areas of operations. Transaction advisory services saw the greatest growth at 15.1 per cent to £396 million, assurance was up 11.3 per cent to £689 million, tax services revenue jumped 9.1 per cent to £634 million and the advisory service by 3.8 per cent to £629 million. 

The biggest area, financial services, enjoyed eight per cent growth, taking the expansion of this sector to 30 per cent in three years.

Search Mindbench.com for the latest management consultancy jobs and consulting recruitment opportunities or contact us on +44(0)207 089 9017.

Image: Poike via iStock

Share this story:
Add new comment
Jobs Related to this Post
5 result(s) found 
Page 1 of 1 

$80k-$110k base plus bonus, benefits
Nairobi (Kenya) or Lagos (Nigeria)
Our client's mission is to unlock the power of capital to make a strong return and a lasting difference in frontier markets. They provide investment advisory services in frontier markets
£50k-£70k plus bonus, benefi...
Central London, occasional work from h...
Senior Analyst - Client & Brand Insights - Central London and work from home occasionally Our client is a growing specialist research firm which focusses on providing research and insight on
£70k-£150k plus bonus, benef...
Dubai
Are you the kind of person that loves to problem solve?  Do you thrive on coaching people?  How do you feel about seeing the direct impact of your work?  Our client is a global
£80K- £150K
London/UK
My client is an independent, medium sized consulting firm with a focus on transformational change. With a flat structure and work centred around values, this firm work side-by-side with their clients
£34,320
Milton Keynes
We are working with the procurement arm of an international bank. Their consultancy services aim to perform a comprehensive optimisation of the procurement function - they combine vast practical