EY announced on Tuesday that it is working together with SAP to further advance deployment of blockchain across industries worldwide. Under their existing alliance relationship, the organizations are collaborating to integrate blockchain applications and services with the SAP Leonardo digital innovation system to help accelerate enterprises’ implementation of blockchain across their business operations.
SAP Leonardo helps simplify innovating with new technologies and incorporates them into a customer’s business with full scalability. The digital innovation system encompasses services and technologies such as the Internet of Things (IoT), machine learning and blockchain.
SAP Leonardo can transform “systems of record” — back-end systems, like enterprise resource systems (ERP) or customer relationship management (CRM), focused on managing workflow, business processes and records — into “systems of intelligence” that automatically detect, interpret and act upon large amounts of data.
EY Ops Chain, which is designed for customers to use to simplify supply chain management, is one of the first blockchain-based solutions that will be integrated on SAP Leonardo. Using EY Ops Chain, companies will be able to integrate digital contracts, shared inventory and logistics information, pricing, invoicing and payments. This will improve forecast accuracy and fulfillment performance while reducing working capital requirements.
“Blockchains are quickly becoming routine tools for business processing that companies can use to manage and take action from the huge amounts of data their systems collect and process,” said Paul Brody, EY Global Innovation Leader, Blockchain Technology. “This data is often collected across a disconnected, fragmented infrastructure. EY Ops Chain on SAP Leonardo will help companies quickly develop and deploy blockchain solutions that connect business operations across their systems, on a platform already widely used by companies worldwide.”
“Blockchain use cases are expanding to almost every vertical as enterprises realize its potential to create more distributed, equitable and more ‘tamper-proof’ business models,” said Saurabh Gupta, Chief Strategy Officer, HfS Research. “EY’s holistic understanding of a blockchain-based business strategy, combined with SAP Leonardo’s digital innovation capabilities, is a significant step forward in the deployment of blockchain for supply chain. Collaboration between industry leaders like EY and SAP will be essential to fulfilling the promise of blockchain.”
“Blockchain helps deliver secure and simplified data sharing in complex multi-party processes. With SAP Leonardo, we provide a toolbox for our customers to access and innovate with all the latest technologies, such as SAP Leonardo Blockchain capabilities,” said Juergen Mueller, SAP Chief Innovation Officer. “By joining forces with EY, we will work together on blockchain use cases for our customers to help them streamline their complex transactions in the digital economy.”
Earlier this month, EY announced that the EY Business Integrity Platform v1.0 (BIP) solution has achieved SAP-certified integration with SAP Cloud Platform. EY BIP has been proven to interoperate with SAP Cloud Platform running on SAP HANA, providing clients the ability to rapidly acquire continuous risk monitoring capabilities over their business and IT processes, enabled by SAP ERP and SAP S/4HANA.
EY BIP is a rapidly deployable solution that combines EY’s risk and controls content, such as key risk indicators and dashboards, predelivered within SAP Cloud Platform, enabling risk analytics for customers. EY BIP monitors predefined key risk indicators across a broad range of processes such as record-to-report, procure-to-pay and order-to-cash, among others.
The certification covers the HTML5 application running on SAP Cloud Platform and on-premise extension connected to the SAP ERP application. This will help clients extract data from their SAP ERP environments into EY BIP, and enable them to view dashboards and drill-down reports as a turnkey capability.
