EY announces global alliance with Shopify to build a new market for regulated products and deliver enterprise-ready e-commerce services
- Helps enterprise merchants get to market faster, at scale, increase revenue potential, improve cost efficiencies, reduce tax risk and provide customized experiences
- Provides enterprise clients access to global EY wavespace x Shopify centers to co-create transformational commerce experiences
TORONTO, Nov. 7, 2022 /CNW/ - The EY organization today announces a global alliance with Shopify Inc., a provider of essential internet infrastructure for commerce, to help enterprise organizations maximize the potential of online commerce and to support the sale of regulated products.
The EY–Shopify Alliance, founded in Canada, aims to help enterprises activate and scale their e-commerce businesses in two ways. The first is through EY e-commerce system integration services optimized for the implementation of Shopify for large-scale businesses. The second is by creating new secure options for the sale of regulated products such as pharmaceutical products and alcoholic beverages.
This alliance synergizes Shopify's speed-to-value, rapidly deployable and customizable platform with the integration capabilities of EY across all relevant back-end systems, such as enterprise resource planning, customer relationship management (CRM), inventory management, fulfilment and financial reporting, back-end implementation and indirect taxes, as well as front-end customer experience.
The proven compliance, data analytics, global tax, trade and managed services capabilities of EY teams will help Shopify's large merchants remain compliant when selling regulated products — regardless of geography. This will allow merchants to be updated on rapidly evolving regulations, operate and sell products in a compliant manner with reduced risk, and drive a tax-efficient distribution model, creating a leading-class digital experience for customers.
EY and Shopify will train an initial cohort of 500 technical professionals around the world who will play a key role in bringing the unique strength of the alliance to enterprise customers at scale and add accelerated value to customers. Further support will be extended to those professionals by enabling up to 10,000 consultants through exposure to the Shopify platform. The alliance will also establish a set of first-of-its-kind EY wavespace x Shopify centers. Leveraging the global network of EY wavespace™ innovation hubs (in locations such as New York, London, Toronto, Sydney and Singapore), these centers will bring the power of Shopify, EY teams and their collective clients together to create improved online customer experiences and solutions, reimagine the future of e-commerce and unlock new markets for regulated products.
Kristina Rogers, EY Global Consumer Leader, says:
"Enterprises and online merchants are re-evaluating their e-commerce strategies to provide better, more relevant and frictionless experiences to meet high e-commerce customer expectations. This collaboration with Shopify will help brands enhance their customer journeys, explore new channels and ultimately grow their businesses — all while navigating the increasingly complex world of regulated retail."
Jad Shimaly, CEO and Chair, Ernst & Young LLP (EY Canada), says:
"The demands and expectations of next-generation conscious consumers will require a pivot to thrive in accelerated e-commerce environments — and fast. The alliance with Shopify will provide a broad range of transformational services that help merchants comply with the complex regulatory landscape and build new operating models that deliver seamless, sustainable customer experiences. I am excited to see this partnership unlock opportunities for clients that allow them to grow at scale while creating long-term value for all stakeholders."
Harley Finkelstein, President, Shopify says:
"Modern enterprises operate in a complex environment where scale, speed and flexibility are needed to drive growth. We are excited to work with EY teams to bring the performance, customization and commerce expertise that our merchants know and love to more large enterprises around the world."
For more information, visit ey.com/alliances.
EY exists to build a better working world, helping to create long-term value for clients, people and society and build trust in the capital markets.
Enabled by data and technology, diverse EY teams in over 150 countries provide trust through assurance and help clients grow, transform and operate.
Working across assurance, consulting, law, strategy, tax and transactions, EY teams ask better questions to find new answers for the complex issues facing our world today.
EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. Information about how EY collects and uses personal data and a description of the rights individuals have under data protection legislation are available via ey.com/privacy. EY member firms do not practice law where prohibited by local laws. For more information about our organization, please visit ey.com.
This news release has been issued by EYGM Limited, a member of the global EY organization that also does not provide any services to clients.
Shopify is a leading provider of essential internet infrastructure for commerce, offering trusted tools to start, grow, market, and manage a retail business of any size. Shopify makes commerce better for everyone with a platform and services that are engineered for reliability, while delivering a better shopping experience for consumers everywhere. Proudly founded in Ottawa, Shopify powers millions of businesses in more than 175 countries and is trusted by brands such as Allbirds, Gymshark, Heinz, Tupperware, FTD, Netflix, FIGS, and many more. For more information, visit www.shopify.com.
SOURCE EY (Ernst & Young)
please contact: Dina Elshurafa, [email protected], 519 697 2694
Share this article