CFO agenda - Essential Insights for CFOs & Finance Leaders - EY - India. Cognitive Robotic Process Automation for a Digital Workforce - EY India - EY - India. Automation is changing the way corporations work dramatically All back office functions are facing a disruptive revolution. Automation is changing the way corporations move towards building a digital workforce. EY has been building up competencies and has established proof of concept designs across the globe, as well as a Centre of Excellence (COE) in India to be ahead of the market. Frontend software technology has come to the point that enables software robots (Bots) to perform human actions and automate repetitive tasks across multiple business applications. The technology is developing fast and can be described by three categories depending on the level of “intelligence”: Optimize beyond conventional solutions through workforce automation Robotic Process Automation (RPA) enables process improvement to go beyond process re-engineering/optimization or labor arbitrage.
There are substantial benefits of implementing RPA Key characteristics for companies with significant RPA value potential. Cost Optimization to Improve the Business Cost - EY - India. Every organization is focused not just on growth but profitability. And profitable growth comes with tackling your cash and cost challenge. Our research suggests that 70% of the companies do not sustain their cost improvements over a three-year period. For EY Advisory, a better working world means solving big, complex industry issues and capitalizing on opportunities to help deliver outcomes that grow, optimize and protect our clients’ businesses. Our global mindset and collaborative culture across our diverse team of consultants and industry professionals inspire us to ask better questions about the cash and cost challenges you face.
We then team with you to co-create more innovative answers — to activate a foundation that optimizes the business as it is today, adapt that foundation as the organization evolves and grows and prepares the organization for the future. Next. EY Advisory Services - Digital - EY - India. We team globally to create more innovative and disruptive answers for our clients. The distinctive and ongoing collaboration between EY consultants and our clients results in better working businesses. We focus on the business implications of digital first – not the technology. Because of our heritage in risk and performance improvement, we have invested in exceptional digital security resources, and we foster a network of digital innovators to bring clients the brightest, freshest thinking. We collaborate across EY and beyond, working with a range of organizations, from technology giants like IBM, Microsoft, Procter & Gamble and SAP, to leveraging our relationships with digital start-ups, disruptors and entrepreneurs.
This means that you can get the broadest, deepest perspectives on digital across your business. Through strategic acquisitions and other means, our range of skills is growing all the time. EY Advisory Services - Supply Chain & Operations - EY - India. Companies are grappling with complex challenges: declining efficiencies, the emergence of new competition, aging assets and impact on CAPEX management, cost escalation and more regulation.
In the energy sector, we work with companies to help them balance the demand for new operational structures around fresh discoveries, while driving significant cost efficiencies in current operations to deal with volatile oil prices. Our key offerings: Capital Excellence We work with companies to help identify, finance, develop, construct, commission and decommission major capital assets. Operational Excellence We can help you to realize the value from a range of field assets and personnel and support efficient and effective work management. Enterprise Excellence We can help enterprises become for efficient and effective, including in their procurement, finance, technology/IT and HR functions. Customer Excellence. IFRS Standards - International Financial Reporting Standards - EY - India.
Companies should use the additional time to prepare fully for Ind AS and update finance systems. India's commitment to convergence with International Financial Reporting Standards ("IFRS") moved a step closer with the publication of 35 Indian IFRS standards ("Ind AS") by the Ministry for Corporate Affairs (MCA) in late February 2011. However, Ind AS are different from IFRS in several important areas. All companies are likely to be affected by changes in respect of first-time adoption and presentation: a high level summary to Ind AS can be found here . A detailed guide to Ind AS is forthcoming. It will take some time for companies to analyze these changes. Furthermore, the respective bodies need to decide whether interpretations on leasing and infrastructure would be ultimately included in Ind AS, and how companies reporting under Ind AS will be taxed.
Published in January 2010 would be replaced with a new timeline. First step: IFRS/Ind AS diagnostic. Ind AS MasterClass and the Key Focus Areas of IND AS - EY - India. We recently completed our "eleventh" edition of Ind-AS Master Class, which received some exceptional feedback. In continuation of the same, we are now launching the "twelfth" edition. India has now finally opened a new chapter in its accounting reforms initiative with the formal notification of Indian Accounting Standards (Ind-AS) issued by the Ministry of Corporate Affairs (MCA) on 20 February 2015. Nearly 39 new accounting standards have been notified bringing them in convergence with the globally recognised International Financial Reporting Standards (IFRS). Even though most of Ind-AS are very close to IASB IFRS, there are few areas where MCA has carve-outs from principles laid down in IASB IFRS.
Transition to Ind-AS is not a mere accounting change but has significant business consequences like: Modification to Transaction modules required in Corporate IT system. For corporate enrolment OR enquiry about any other training program, please write to us at firstname.lastname@example.org. BEPS – Focus on Base Erosion & Profit Shifting – EY India - EY - India. The view of governments across the world is that the current international tax standards have not kept pace with the changes in global business practices. Many countries have perceived the relevance of adopting BEPS as these reports include recommendations for significant changes in key elements of the international tax architecture. India is actively following the BEPS recommendations and has been bringing amendments in the domestic law to be in line with BEPS regulations. A number of proposals in Indian Finance Act, 2016, are influenced from the recommendations emanating from the final reports of the OECD under its Action Plan on BEPS.
These include implementation of Master File and Country-by-Country (CbC) Reporting ( in compliance with Action 13), introduction of equalization levy which requires withholding on gross basis for all payments in relation to certain specified digital services (Action 1) and a “Patent Box” tax regime for royalty income (Action 5). Direct Taxes Code - EY - India.
The Direct Taxes Code (DTC) is an attempt by the Government of India (GOI) to simplify the direct tax laws in India. DTC will revise, consolidate and simplify the structure of direct tax laws in India into a single legislation. The DTC, when implemented will replace the Income-tax Act, 1961 (ITA), and other direct tax legislations like the Wealth Tax Act, 1957. The first draft bill of DTC was released by GOI for public comments along with a discussion paper on 12 August 2009 (DTC 2009) and based on the feedback from various stakeholders, a Revised Discussion Paper (RDP) was released in 2010. DTC 2010 was introduced in the Indian Parliament in August 2010 and a Standing Committee on Finance (SCF) was specifically formed for the purpose which, after having a broad-based consultation with various stakeholders, submitted its report to the Indian Parliament on 9 March 2012.
The DTC 2013 proposes to introduce: Ernst &Young >Services>Services Tax International Tax - EY - India. International Tax Planning Services Share Chief financial officers and tax directors of multinationals are operating in an environment of intense scrutiny and challenge. Transactions, inter-company pricing, supply chains, structuring and funding are increasingly under the spotlight. More than ever, executives are looking to align their global tax position with their overall business strategy, to be competitive and provide value to shareholders. Our integrated global network of international tax professionals helps you manage your business tax burden by uncovering opportunities, managing global tax risks and meeting cross-border reporting obligations. Using multidisciplinary teams, we work with you to manage global operational changes and transactions, capitalization and repatriation issues, transfer pricing and tax efficient supply chain management – from forward planning, through reporting, to maintaining effective relationships with the tax authorities.
Our service offerings. About our wealth and asset management services - EY - India. New avenues in India’s real estate sector - EY - India. Due to rapid urbanization, positive demographics and rising income levels, the Indian real estate sector has attracted significant investment over the past few years. The contribution of the real estate sector to India’s gross domestic product (GDP) has been estimated at 6.3% in 2013 and the segment is expected to generate 7.6 million jobs this year. While housing contributes approximately 5%–6% of the country’s GDP, the retail, hospitality and commercial subsectors have also grown simultaneously, meeting the increasing infrastructural needs. Overview of the real estate sector in India Sales of residential property declined in 2013 in all metro cities, particularly in the National Capital Region (NCR), Mumbai and Bengaluru.
The draft Real Estate Regulation and Development Bill, 2013 is a policy measure to bring in increased transparency and protect customer interest. Current funding trends in India’s real estate market Primary source of real estate financing Source: EY research Next. Life Sciences Industry in India - EY - India. Pharmaceutical companies are facing great changes to the industry — emerging science, new products and services, shifting demographics, evolving regulations, transforming business models and increased stakeholder expectations. We are helping pharmaceutical companies around the globe to address the challenges presented by this new world we call Pharma 3.0.
We also publish a series of reports to bring you clear insights on accounting, tax, transaction, compliance and business process issues, as well as our annual report on pharmaceutical industry trends, Progressions. Our thought leadership helps you navigate the shifting global landscape and grow your business — the new business imperative of improving health outcomes. Today we stand on the cusp of the next big wave in improvements in health outcomes – driven not just by new products, but by behavioral change.
Take a closer look: Health Care Industry | Health Care Sector - EY - India. Health care around the globe is embarking on a once-in-a-lifetime transformation — the move to “Health 2.0,” the consumer-centric, outcomes-driven, prevention-focused future of health care. There are two catalysts for this shift. First, with aging populations and emerging market growth, chronic disease is becoming a global epidemic and driving health care cost inflation to unsustainable levels. To tame costs, payers and governments are realigning incentives around value and outcomes. At the same time, health is finally entering the digital age — unlocking information, empowering patients, enabling real-time analytics and bringing much-needed focus on prevention.
Yet, just as technology creates opportunities for health care organizations, it also presents threats as new entrants disrupt the competitive landscape. How EY can help you At EY, we’re playing our part. Our Global Health practice works with organizations to manage costs and improve efficiency. Budget 2016: Smart funding for Smart City initiatives - EY - India.
Business Today By Shrinivas Kowligi Partner, Government and Transaction Advisory Services, EY India Many 'Smart City Watchers' (a catchphrase for all those who are following India's Smart City Mission closely) may have been dismayed by the absence of even mention of core urban sector schemes in the Finance Minister's speech. They can take heart that the Union Budget FY 16-17's allocation of Rs. 7296 Cr for Smart City Mission and AMRUT finds mention in the annex, and it is just marginally higher than the previous year. GoI's Smart City Mission and AMRUT (Atal Mission for Rejuvenation and Urban Transformation) are the two flagship schemes in the urban sector, which support creation of world-class urban environments in select cities to make them competitive, and for a larger set of cities and towns target creation of basic infrastructure services in water supply, sanitation and transport.
These two complement the Swacch Bharat Mission and other schemes.