EY Competitors - Digital Platforms

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Big Four - Digital Ecosystem

Some studies about client services' digital ecosystem of the Big Four companies and other professional services offer to the client include The Digital Transformation Initiative, A Comparison of the Big Four Professional Service Firms, The Forrester Wave™: Global IoT Services for Connected Business Operations, q4 2018, The Forrester Wave™: Global Cybersecurity Consulting Providers, q2 2019, Global Management Consulting Services Market 2019 by Company, Regions, Type and Application, Forecast to 2024 and The Forrester Wave™: Innovation Consulting Services Providers, q4 2018.

DIGITAL TRANSFORMATION INITIATIVE

  • The Digital Transformation Initiative is a World Economic Forum’s project that aims to be a focal point for new opportunities and themes in the digitalization business and society. This study provides an overview into several innovations and digital transformations The Big Four companies are included.

Some topics covered:

  • According to the report, professional services are evolving, building digital platforms to facilitate conversations with clients, supplying relevant digital services by using digital as an integrated growth platform and developing data-based services Ex: BCG Digital Ventures and Lex Machina.
  • Fostering a digital environment. Ex: KPMG and IBM deploying cognitive technology to enhance professional services and Accenture’s Open Innovation Platform helping to bring innovative start-ups to Market.
  • Intelligent Automation. Ex: McKinsey Solutions servicing clients with software and technology-based analytics.
  • Developing a flexible workforce. Ex: PwC creating a Marketplace for Freelancers.
  • New ways of hiring. Ex: The Big Four changing hiring practices with Data Analytics.
  • E-discovery software: Ex: KPMG

A COMPARISON OF THE BIG FOUR PROFESSIONAL SERVICE FIRMS

This Norwegian study about the Big Four provides an overview about each company. Most of the study is about their history and practices, but it provides insights about their platforms.

PwC

  • Their technology is implemented globally to ensure consistency
  • Focus on improving quality and efficiency of audit through connectivity, automation and mobility
  • Some applications: Aura Now, Count, Connect and Halo
  • The Technology GL uses algorithms that are developed and trained to copy decision-making processes, examining transaction with great detail and may find deviations that humans do not.
  • PwC has a service dedicated to help their clients understand how technology can help them

Ernst & Young

KPMG

  • eAudIT
  • Strategic focus on D&A.
  • KPMG Clara, an online solution that facilitates efficient and real-time communication, this platform can manage higher data volumes and provide scope for future improvements.
  • KPMG Digital focused on Digital Consumer Experience, Digital Enterprise, Digital Capabilities and Digital Operations.

Deloitte

  • Deloitte Digital is an innovative leader in online and mobile strategy, design and development
  • "They offer everything digital from strategy, multi-channel, bespoke development and managed solutions."
  • Deloitte’s Financial Advisory business adopted multiple platforms to support clients, such as a forensic digital platform, analytics platforms like ValueD and iDeal that provide advanced insights on multiple levels, including benchmarks
  • FY2017

THE FORRESTER WAVE™: GLOBAL IOT SERVICES FOR CONNECTED BUSINESS OPERATIONS, Q4 2018


THE FORRESTER WAVE™: GLOBAL CYBERSECURITY CONSULTING PROVIDERS, Q2 2019


GLOBAL MANAGEMENT CONSULTING SERVICES MARKET 2019 BY COMPANY, REGIONS, TYPE AND APPLICATION, FORECAST TO 2024

  • Up-to-date paid report (released in February 2019), claims to have detailed information about Deloitte, PwC, EY, KPMG, Accenture, McKinsey and others.
  • Offers Business Overview, Management Consulting Services Types and Applications, Product A, Product B, Revenue Gross Margin and Market Share for each company.
  • Also offers Global Management Consulting Services Market Competition, by Players, Market Competition Trends, among many other insights.
  • Cost: 1-user pdf $3,480/Enterprise PDF: $6,960

THE FORRESTER WAVE™: INNOVATION CONSULTING SERVICES PROVIDERS, Q4 2018


INTERESTING ARTICLES

How are the Big Four accounting firms approaching decentralized ledgers?

This article shows how “The Big Four” are dealing with Blockchain and it seems to imply that EY and Deloitte are ahead of the game in this area

Voices Digital is transforming accounting firm consulting

This article talks about Digital Transformation and how consulting firms are dealing with it.
Winning: Deloitte with a 12% market share.

PwC rolls out new auditing tool for cryptocurrencies as Big 4 race to meet demand

This article covers how PwC has launched an updated auditing solution for clients who hold cryptocurrencies. Winning: PwC and EY.

How Big Four Auditors Delve Into Blockchain: PwC, Deloitte, EY and KPMG Approaches Compared

This article offers a more detailed insight into how each company is dealing with the Blockchain trend

The Big Four Accounting And Auditing Firms Are Becoming Challengers In Digital Transformation Services

This article looks into how The Big 4 are entering the digital transformation services field.

Designing KPMG Online: Case Study

This article takes a closer look into the development of the KPMG APP, including its tools and features.

AI in the Accounting Big Four — Comparing Deloitte, PwC, KPMG, and EY

This article compares how each company is dealing with AI technology implementation, automated services and AI initiatives and strategies.


Research Strategy

We started our research by looking for studies and research about the digital ecosystem, platforms, and applications of the main consulting service providers, with a focus on the six companies requested. Although we did find some articles relating to the topic (that are linked above), we could not find specific studies about the subject, either for the whole pack or for individual companies that would provide insight into pure client digital experience.

We then broadened our research to digital solutions and innovations those companies may be providing in order to find what digital services they may be offering their clients. With this strategy, we were able to find a few free studies and reports that showcased what each company is doing in different areas, including some reports about the competitive landscape and how one company is rising above others. We also found a study that claims to address some of the client’s needs behind a paywall.
Expanding on this success, we attempted to find information about features, UI, templates those companies use, hoping that would lead to a more detailed insight about their digital platform. According to Bloomberg, most of them do not disclose a lot of information about their platforms and tools in order to maintain a competitive advantage, so we only found information that comes straight from their website or from partners, which was of limited usefulness.

Finally, we once again broadened our research and looked for overall comparisons between the companies from credible sources, we ended up locating a few more articles that shine some light into how they handle their digital solutions and services that were included in the report. We considered including market shares and revenues as a display of how the companies may be "winning", however, it would not add much insight into the client experience or digital platforms, so those findings were left out of this report.
Sources
Sources

Quotes
  • "McKinsey Solutions has unbundled its offerings to provide software- and technology-based analytics that can be embedded in a client’s business. The services include pricing and promotion tools to improve the return on sales, organizational health indices and benchmarking solutions"
Quotes
  • "Forrester’s research uncovered a market in which Deloitte, IBM, Accenture, HCL Technologies, and Atos are Leaders; KPMG, EY, PwC, Wipro, Tata Consultancy Services, Cognizant, and Infosys are Strong Performers; and Capgemini and Dimension Data are Contenders."
Quotes
  • "Today, consultancies that can blend consulting services with recurring revenue models that include SaaS, cloud, and platform-based approaches achieve far higher client satisfaction and retention rates"
Quotes
  • "The result is that all of the world’s leading consulting firms are now hybrids—you can hammer most shapes of project into most types of firm without much difficulty. And that’s leveled the playing field, to the extent that the three firms who own the biggest share of the digital transformation market—Deloitte, Accenture and McKinsey—come from very different backgrounds."
Quotes
  • "The auditing solution, called Halo, offers a full breakdown of clients' crypto treasury. tracking blockchain transactions to provide “independent, substantive evidence needed to establish ownership of cryptocurrency." "
Quotes
  • "The leader in the disruption is Deloitte, the most mature and largest of the consulting and services practices. Over the past two years, the firm went through a significant exercise in globalizing its practices, creating an “As One” Deloitte marketplace rather than having regional fiefdoms"
  • "Running right behind Deloitte is E&Y, which also sees the opportunity and the path Deloitte plays. E&Y is following fast on Deloitte’s footsteps to create a very large, sophisticated digital transformation and service organization. KPMG and, to some extent, PwC are also following Deloitte’s path."
Quotes
  • "The KPMG app was developed as an additional channel of communication that improves the client experience for companies that rely on KPMG’s professional audit, tax, and advisory services."
Quotes
  • "Accounting firms have generally provided few specifics about the state of their audit technology"