EY boosts emerging markets, manpower across network
Towards a more resilient, seamless and integrated services aimed at accelerating growth in the emerging markets, consultancy experts and Ernst & Young (EY), have launched a shared professional advisory for Africa, India and the Middle East (AIM).
The concept, which was initiated about two years ago, boasts of the world’s largest consultancy base with over 7,000 consultants across the areas, and builds on the fact that similar drivers exist across these emerging markets, with clients in need of seamless, integrated services.
EY Partner and Advisory, AIM, Hennie Human, disclosed that key motivations for the initiative include EY’s desire to accelerate growth across all three markets, improve profitability of delivery, leverage and make the most of the investments across the eastern markets.
Human identified resilience as “an important driver,” noting that while emerging economies have different cycles, with Nigeria and South Africa just exiting slow growth periods and East Africa, Middle East and India presently experiencing significant gross domestic growth, “integration gives us much more flexibility in business.”
He noted: “We have an incredible amount of intellectual property across these three markets, but like what happens in business here with intellectual property, if it is not integrated at the states and local levels, it is not utilised in the business of other markets.
“This AIM integration vehicle gives the opportunity to utilise the intellectual property that gets created in a Nigerian market, Egypt or India. Lastly, it also gives us a vehicle to access very specific skills across the different markets, the ability to utilise very specific skills in our clients’ different needs by pulling over 7,000 people across these three geographical regions.
“What we have found is that our market and clients’ needs are becoming more specific, as our advice to them goes deeper into the different sectors.
That gives us the ability to put the right person at the right place to make sure we optimise value to our clients.” According to him, areas with a number of identified growth drivers across the AIM include financial services, energy, the public sector, media and technology, while specific alliances like Microsoft and IBM, among others, have been established and specific intellectual property developed to enable it service the emerging markets by utilising technology.
Also speaking, EY Partner, Financial Services and Leader for AIM, Paul Sommerin, identified the third major growth driver as “digital analytics and cyber, where we see significant challenges and opportunities for our clients. By integrating and investing in our capabilities across the regions, we are able to provide a seamless solution to our clients.” This draws from the similarities between the Nigerian market and those of Egypt and India, and every sector has similar fields of play, enabling AIM to bring top solutions to top industries and clients across the regions.
On his part, EY Partner, Advisory Services, Ben Afudego, explained that with AIM, people no longer need to resign and go abroad to acquire certain experiences. With AIM’s presence in over 140 countries, it could give people the needed experiences to work anywhere and in a very seamless way, with modalities already on ground. Mores so, AIM makes it possible to implement the mobility side of it seamlessly, even as Nigerians with world class experiences and capabilities could be sent into those other markets to serve EY clients. “I believe that is the way for Africa to grow. We need to find models and opportunities that make us to grow our businesses faster, that leverages skills,” Afudego said.
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