'Big Five' Offspring Debuts ASP Suite
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Ernst & Young is one of the "big five" consulting firms that is in the business of helping businesses stay in business. Its application service provider offspring, formerly known Ernst & Young Technologies, was officially spun-off during a first round of financing in mid-August.
With the financial infusion came a name change and EYT set up shop to provide high-growth dot-com and telecom firms with end-to-end ASP solutions.
It should come as no surprise that EYT has set its sights on becoming a premier ASP, but some analysts may be astonished that the accounting offshoot launched its first service offering Wednesday that targets low-end start-up firms, seeking to outsource financial services.
EYT picked one of the top e-business application companies, Lawson Software to power its GoEYT initiative. As a Lawson partner, EYT is set to deliver its GoFinancials ASP offering as a scalable solution for fast-growth firms that need to get a handle on their financials.
Brad Osborne, EYT president of solution development said the idea of GoFinancials is to create a place for dot-com and telecom firms to start outsourcing their financial services.
"The idea of GoFinancials is to provide high-growth companies with a full Lawson engine that has been reduced to specifically meet the requirements of startup customers, at a lower cost for entry," Osborne said. "We provide interfaces to specific business functions appropriate for vertical industries in easy to use format."
Just because GoFinancials is price sensitive, does not mean EYT's first ASP solution is a stripped-down version of a Lawson enterprise resource-planning program.
As an ASP member of the LawsonTone remote-computing program, EYT maintains and hosts the applications, providing all the necessary infrastructure support through an affordable subscription-based model.
Jim Hunt, EYT chief executive officer, said the innovative ASP solution alleviates burdens on customers in-house IT staffs, enabling them to remain focused on growing their core business.
"EYT has a history of successful Lawson implementations under its belt and we are excited about our newest joint effort, GoFinancials," Hunt said. "Providing smaller businesses a best-of-breed financial solutions through a customer-friendly ASP model gives startups the chance to leapfrog their competition without the burden of timely and costly infrastructure support."
GoFinancials empowers customers with the ability to automate all financial functions over the Internet, including general ledger upkeep, invoice generation, bill payment and bank transaction recording.
The outsourced end-to-end solution offers customers a rapid time-to-market financial application system to meet immediate business needs without delay. In an e-commerce business segment where rapid success kills, the EYT GoFinancials offering is designed to help thriving companies keep pace with the demands for their goods and services.
In addition to lower start-up costs and implementation assistance, GoFinancials offers customers around-the-clock application access and support as a value-added service. EYT's Osborne said the Web interface is simple enough for clients to start using GoFinancials with little or no technical support, but its there if customers need it.
"We think this offering is somewhat unique," Osborne said. "With GoFinancial we bring the entry point down to a level not currently available in t