EY establishes global delivery service center in Hungary and plans further expansion

EY’s Global Delivery Services (GDS) center will be hosted at the Hungarian headquarters and aims to employ 500 professionals over the next three years. The Budapest Business Journal talks to Srini Rao, Global Vice President of EY GDS, about how the Big Four actor expects the Budapest office to bring a more complete range to its service offering by supporting internal operations.

EY considers that GDS plays an essential role in the implementation of its growth strategy. In two decades, the unit has grown from simple delivery assistance to a network of 60,000 professionals. With the addition of Budapest, they are now based in 18 cities in seven countries, including Argentina, China, India, the Philippines, Poland and the United Kingdom.

EY GDS is constantly exploring possibilities to increase its presence in key markets in Europe. In this context, the new Budapest center will be the fifth service city in Europe and will initially share the space of the EY Hungary headquarters.

“EY Global Delivery Services is a dynamic and truly global network of service delivery centers. EY GDS teams combine deep technical knowledge with a focus on innovation, technology and process improvement to create scalable services to support all EY member companies, service lines and functions across all geographic areas and all sectors, ”Rao told BBJ.

As part of EY’s distribution network, GDS only works with external clients through EY member companies. GDS center teams often work on global client accounts, where local member firm teams can focus more on national clients. Many of the activities, skills, and services are the same as GDS helps deliver customer work.

“Together, we help our clients capitalize on transformation opportunities. We also help them meet regulatory requirements, educate investors and meet the needs of all their stakeholders. And in a rapidly changing world, we give them the support they need to be effective today and create long-term value for tomorrow, ”says Rao.

Attractive location

The Hungarian capital is an attractive location for the establishment of the GDS center of EY. The combination of highly skilled talents, the availability of multilingual capabilities, the stable economic environment and the support of the Hungarian government were all factors when EY decided to locate the center here. The investment of HUF 767 million is supported by a grant from the Hungarian government of HUF 384 million.

Initially, the center will focus on tax-related services, joining the international team of 10,500 people. However, EY has big plans for the center. Through planned capacity and capacity building, the hub will support all of EY’s service lines and business disciplines, including audit, advisory, strategy, transactions and operations functions.

“The EY GDS team in Hungary is currently focused on providing services to support EY’s tax finance operating service and in the coming year will launch payroll services, management services legal and transfer pricing services. It also plans to expand into VAT services, accounting compliance and reporting, corporate tax and mobility services in the future. The addition of a GDS center in Hungary brings a more complete service offering, as well as additional linguistic capabilities, and will allow GDS to serve EY teams based on EMEIA and their clients in a more comprehensive way ”, said the global vice president.

As Foreign Affairs and Trade Minister Péter Szijjártó confirmed, EY plans to expand its GDS center activities to employ nearly 500 professionals by the end of 2024, with particular emphasis on tax and accounting skills . EY GDS is looking to grow its workforce with accounting, tax and technology skills, given the high demand for digital transformation and innovation services from clients around the world.

EY GDS is also seeking close cooperation with local universities to provide valuable market knowledge and access to quality talent.

Diverse and inclusive

“Known for its goal of creating a better world of work, EY offers a diverse and inclusive culture where people are empowered to be intentional in their careers, embrace lifelong learning and seek out the experiences and skills that will help them succeed. bring out the best in themselves and others, ”says Rao.

What are the career opportunities for Hungarian talents? EY’s GDS strives to continuously grow its large workforce.

“Every day, EY GDS builds an exceptional experience for this gigantic workforce where everyone has a say, feels inspired and motivated to get down to business and feels a sense of belonging. The organization is focused on empowering people to be intentional in their careers, seeking experiences and learning, skills, impact, leadership behaviors that will help them bring out the best in their lives. ‘themselves and others,’ according to Rao.

In the aftermath of the COVID-19 pandemic, like many other businesses, EY’s GDS teams have done their best to transition to working from home seamlessly. The company insists it was able to continue operating as usual overnight. The Vice-President adds that he believes such arrangements will be characteristic of what the future of work looks like. The emphasis is also on well-being and engagement.

“The organization is focused on creating an infrastructure to support people in their roles beyond work as primary caregivers; it’s in an increasingly virtual and truly remote environment. EY GDS continues to be the epicenter of efficiency, innovation and modern practices and has evolved into a hybrid model, part physical, part virtual and highly digital, ”concludes Rao.

This article first appeared in the print issue of the Budapest Business Journal on December 3, 2021.

More Stories
March retail sales increase with vaccine rollout