When’s the last time you’ve heard about the Big 4 giving anything away for free? Ummm, never?
The software in question is highly technical and pertains to the blockchain world. I won’t get into what it is and how it works here.
While some may question why in the world EY would give this away for free, this is actually a very smart move.
1) This is an interesting model for securing new business in a fast moving space. This software will be used as a foundation for certain blockchain services for EY’s corporate clients.
2) This is fantastic advertising for the digital age. It demonstrates thought leadership on EY’s part and has helped to develop an an online community. Here’s just one
online discussion happening on reddit with posters praising EY for the move.
3) Open-sourcing will get others to contribute to their newly released code (for free), therefore making it more valuable for their corporate client services. Genius.
This move also demonstrates the importance of merging services with software & technology, a trend that is likely only going to intensify.
For only the most tech savvy, you can peep the open source code that EY released here
Interested in chatting about these kinds of things with fellow peers? Request access to the closed Facebook group for accounting & bookkeeping firm leaders here
Now let’s get to this week’s Future Firm Top 5, shall we?