In particular, it was looking at how to improve operations across eight distinct finance processes, from financial accounting to book closing, by applying technology in ways which would work to deliver real value.
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Finding fresh perspectives meant the client needed to bring together the right expertise. For large multinational organizations, these conversations can be hard to create and sustain — teams can be widely distributed around the world, business functions may be highly siloed and individuals may keep varying hours. Bringing stakeholders together physically — and giving them the tools to succeed — was critical. The EY Consulting and Assurance teams worked together on this project to help create the conditions that allowed the client to have these conversations — bringing our own different perspectives to bear on the project.
In wavespace we help clients curate talent and technology, bringing them together in collaboration. They are proven to energize and align teams to create meaningful outcomes, faster. Clients can engage with wavespace locations around the world, be hosted in temporary pop-up wavespaces, or have a wavespace installed in their premises — all are designed to help clients interact with ideas, technology and each other, in ways that can lead them to the decisions and creativity that will help them thrive in the transformative age.
Over the course of an eight-week program, wavespace hosted dozens of key stakeholders in over meetings, giving them the perspective and collaborative focus they needed to think about and ask questions about the best ways to transforming their finance operations. At the same time, participants were challenged to work identifying meaningful ways to assess how technology solutions could be applied to their finance processes.
First, the client landed on the Cloud as the most appropriate technology for their needs. Within wavespace, they then started challenging their own assumptions — rightly identifying the fact that the Cloud could not be considered just as a technology play but needed to be understood as a wider platform that could transform the finance function in multiple ways. The client also identified potential roadblocks. Through dialog with respective stakeholders, they found that if they had focused entirely on the tech, but neglected the process side of the equation, the desired results would not be delivered.
EY ensured the wavespace environment provided the frontline finance professionals everything they needed to help design the solution and define the use cases, supported by the IT and Finance Change teams. Through transparent conversations between different stakeholder groups, practical, effective solutions began to emerge. Through creative collaboration within wavespace, the client not only honed their transformation strategy to a specifically Cloud-based approach — they also developed clearly defined steps that would allow them to pursue real, measurable value.
These included:. These tools allowed the client to come up with solutions that led to real, measurable value for its finance function — and the business as a whole. With these new Cloud-enabled processes, they identified the potential to remove the need for manual reconciliations between different systems or data sets. This could then potentially save significant man-hours — including reducing the time taken to close accounting books from up to 20 days down to four days — freeing up time and resources for more value-adding tasks.
Particularly, it demonstrates that grounding any technological agenda in real world, human experiences — rather than hypothetical ideal scenarios — is critical if technology solutions are to be applied in an effective and valuable way. With the current business landscape utterly changed by the impact of COVID, organizations increasingly need to be able to reimagine how they work in this unchartered environment.
More than ever, they will need to reframe how their business models and operations fit into a global economy that continues to experience severe shock as a result of the pandemic. To effectively reinvent themselves during this crisis, organizations will need to embrace transformation to drive growth. By creating the mental space to think through the challenges brought about by COVID — actively seeking different perspectives and challenging assumptions about not just the right paths forward, but also the fundamental issues to be addressed — organizations can ensure they are pursuing strategies that can deliver genuine value.
Questions about a specific EY service? Subscribe to one of our newsletters and stay up to date of our latest news, insights, events or more. EY Belgium is keen to make the mobility of its 2, employees greener. EY presents its first Climate Risk Disclosure Barometer underlining that companies need to understand the risks and even the opportunities associated with the impacts of climate change. In too, Belgium remained an attractive country for foreign investors, according to the EY Belgian Attractiveness Survey.
Visit the newsroom. EY is a global leader in assurance, consulting, strategy and transactions, and tax services. The insights and quality services we deliver help build trust and confidence in the capital markets and in economies the world over. We develop outstanding leaders who team to deliver on our promises to all of our stakeholders. In so doing, we play a critical role in building a better working world for our people, for our clients and for our communities.
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Antwerp hosted the Summer Olympics. During World War II , the city was an important strategic target because of its port. After this, the Germans attempted to destroy the Port of Antwerp , which was used by the Allies to bring new material ashore. Thousands of Rheinbote , V-1 and V-2 missiles were fired more V-2s than used on all other targets during the entire war combined , causing severe damage to the city but failed to destroy the port due to poor accuracy.
After the war, Antwerp, which had already had a sizeable Jewish population before the war, once again became a major European centre of Haredi and particularly Hasidic Orthodox Judaism. A Ten-Year Plan for the port of Antwerp — expanded and modernized the port's infrastructure with national funding to build a set of canal docks.
The broader aim was to facilitate the growth of the north-eastern Antwerp metropolitan region, which attracted new industry based on a flexible and strategic implementation of the project as a co-production between various authorities and private parties. The plan succeeded in extending the linear layout along the Scheldt river by connecting new satellite communities to the main strip. Starting in the s, Antwerp rebranded itself as a world-class fashion centre.
It emerged from organized tourism and mega-cultural events. The municipality comprises the city of Antwerp proper and several towns. It is divided into nine entities districts :. In , in preparation of the year development plan for the Port of Antwerp , the municipalities of Berendrecht-Zandvliet-Lillo were integrated into the city territory and lost their administrative independence. During the merger of municipalities, conducted by the Belgian government as an administrative simplification, the municipalities of Berchem , Borgerhout , Deurne , Ekeren , Hoboken , Merksem and Wilrijk were merged into the city.
At that time the city was also divided into the districts mentioned above. Simultaneously, districts received an appointed district council; later district councils became elected bodies. In the 16th century, Antwerp was noted for the wealth of its citizens "Antwerpia nummis". However, fire has destroyed several old buildings, such as the house of the Hanseatic League on the northern quays, in Although Antwerp was formerly a fortified city, hardly anything remains of the former enceinte , only some remains of the city wall can be seen near the Vleeshuis museum at the corner of Bloedberg and Burchtgracht.
A replica of a castle named Steen has been partly rebuilt near the Scheldt-quais in the 19th century. Antwerp's development as a fortified city is documented between the 10th and the 20th century.
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The fortifications were developed in different phases:. This is the population of the city of Antwerp only, not of the larger current municipality of the same name.
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At present, about 15, Haredi Jews, many of them Hasidic , live in Antwerp. Antwerp has an extensive network of synagogues, shops, schools and organizations. Rabbi Chaim Kreiswirth , chief rabbi of the Machsike Hadas community, who died in , was arguably one of the better known personalities to have been based in Antwerp. An attempt to have a street named after him has received the support of the Town Hall and is in the process of being implemented.
The Jains in Belgium are estimated to be around about 1, people. The majority live in Antwerp, mostly involved in the very lucrative diamond business.