Apptio Products and EY Professional Services: Enhancing Corporate Transactions and Enterprise Agility
New Solutions to Revolutionize Enterprise IT
September 24, 2024
LONDON, 24 September 2024 — The EY organization has announced an expansion of its collaboration with IBM (NYSE: IBM), leveraging software from Apptio, an IBM Company. This partnership aims to help organizations prioritize their strategic goals by combining EY’s strategy and consulting expertise with Apptio’s software. The initiative introduces two new solutions, with another expected later this year, that integrate EY’s deep industry experience in Tax, Corporate Transactions, IT Financial Management, and Cloud FinOps with Apptio’s robust tools and insights. These solutions are designed to help clients manage the complexities of enterprise technology spend effectively.
EY Agile Planning & Portfolio Management
This solution has been developed by the EY organization, with support from IBM, to help organizations maximize the value of their IT investments and resources. It provides an integrated set of tools, processes, and governance methodologies to better plan, budget, deliver, and monitor strategic outcomes across products and portfolios. Already in use by clients in the banking and financial services industries, this solution aims to unlock IT capacity and redirect resources towards priority technology investments in areas like cybersecurity, artificial intelligence (AI), and other emerging technologies.
EY Cloud FinOps and Apptio Recommendation Engine
According to Gartner, worldwide end-user spending on public cloud services is projected to grow by 20.4% to reach $678.8 billion in 2024. This rapid growth poses challenges in maintaining operational efficiency, managing spend with greater transparency, and reducing errors from manual processes. The new EY Cloud FinOps solution, utilizing Apptio’s cloud cost and operations management tools, aims to help clients optimize their cloud investments. It improves cost and operational transparency and establishes targets for sustainable cloud resource consumption.
IT Cost Modeling for Transactions
Expected to launch in the fourth quarter of 2024, this forthcoming solution will combine EY’s market-leading services in Strategy & Transactions and Technology Transformation with Apptio’s Costing technology. It will provide a platform to model and manage transactions, transition services agreements, and post-transaction transformation programs for corporate separations, large-scale mergers, and private equity firms. This solution aims to reduce manual reporting efforts and improve visibility over large-scale transaction activities.
Expert Opinions
Anja Allen, Principal, Technology Consulting, Ernst & Young LLP, commented:
“The EY organization and IBM have joined forces to develop differentiated solutions that help our customers manage the complexities of enterprise technology spend effectively. These solutions are distinctive from both a service and product perspective. Our aim is to enhance visibility into IT and cloud expenditure and streamline transaction modeling and analysis.”
Henrik Nilsson, Global VP of Partner Sales, Apptio, an IBM Company, added:
“Apptio’s innovations deliver technology business management and cost transparency. By collaborating with EY’s expertise in Strategy & Transactions, FinOps, and cost excellence, these solutions can help clients maximize the value of their enterprise spend.”
Details on the definitive agreements for the upcoming joint solution are yet to be finalized. Statements regarding IBM’s future direction and intent are subject to change or withdrawal without notice and represent goals and objectives only.
About EY
EY is committed to building a better working world by creating long-term value for clients, people, and society, while fostering trust in the capital markets. Enabled by data and technology, diverse EY teams in over 150 countries provide assurance and help clients grow, transform, and operate effectively. Working across assurance, consulting, law, strategy, tax, and transactions, EY teams seek better questions to find new answers for the complex issues facing the world today.
Media Contacts:
Barbara Dimajo
EY Global Media Relations
Barbara.dimajo@ey.com
This news release has been issued by EYGM Limited, a member of the global EY organization that does not provide any services to clients.
For further details, visit the official announcement on the IBM Newsroom.
For more Information, Refer to this article.
