Tech news: EY launches tech lab for edge computing

Published February 9, 2024 12:10 PM

Updated February 9, 2024 12:41 PM

1 Min Read

EY launches tech lab for edge computing; Schneider Downs launches SD Digital group; and other updates from the accounting technology world.

EY launches tech lab of edge computing

The offices of Ernst & Young LLP in London

Simon Dawson/Bloomberg

Big Four firm E&Y launched the EY Edge Technologies Lab, an initiative focused on facilitating the use of edge computing (where computer processing is split between a cloud server and nearby local devices) for organizations. The Lab, which is being introduced in cooperation with Dell Computers, will be focused on creating real-time, industry-specific use cases and prototypes for edge-centric solutions that integrate into business operations, especially ones that incorporate artificial intelligence. Through the Lab, clients can address issues within their multitiered environments and data solutions that impact the bottom line, as well as better understand how having the right edge and data strategy impacts the convergence of IT and operational technology. The Lab will focus initially on manufacturing, life sciences, healthcare, consumer products and utilities.

Schneider Downs debuts SD Digital group

Schneider Downs headquarters in Pittsburgh

Courtesy of Schneider Downs

Top 100 firm Schneider Downs announced its new SD Digital group as part of an evolution of its technology and data service practice. The advisory group will be led by Schneider Downs shareholders John Huckle and Patrick Armknecht. The advisory service will focus on delivering digital solutions for back-office functions, including finance, operations, supply chain and human capital across organizations of all sizes and industries. The group will offer solutions for data analytics, digital modernization, intelligent automation, Microsoft Dynamics ERP, custom development, as well as proprietary software including SD inSITE and simpLEASE accounting.

Forvis launches loan pricing solution

The Forvis building in Springfield, Missouri

Courtesy of Forvis

Top 10 firm Forvis unveiled LoanPricingPRO, a tool that helps lenders strategically price commercial loans using real-time metrics to bolster their profitability goals. Users will have access to a benchmark calculator providing profitability-enhancing recommendations, relationship-based pricing, custom risk-adjusted pricing, product-specific expense allocations and configurable minimum and desired return-on-equity targets. The product is a significant evolution and refinement of a tool previously offered by ProBank Austin, which Forvis acquired in 2022.

Accounting Seed announces AP automation solution

Account payable concept image with business icons and copyspace.

ar130405 - stock.adobe.com

Accounting solutions provider Accounting Seed announced its first product offering of the year, AP (Accounts Payable) Automation. The solution automates the AP process from receipt of invoice to payment to reconciliation. Users can automatically match invoices to vendor accounts and create payables directly from email; search, group and seek approval for recommended payments while applying any credit memos on hand and taking advantage of early pay discounts; and automatically pay approved payments from the user's bank by their vendor's preferred payment method — whether it be card, ACH or check— utilizing Accounting Seed's invoice-to-pay partner, Edenred Pay. Payments are then automatically matched and cleared on the bank reconciliation.

Relay announces partner program

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Business banking platform Relay launched a partner program aimed at accounting and advisory firms. The new program rewards advisors for referring clients to the Relay platform, with cash rewards of up to $300 per client onboarded. Participating firms can earn rewards for solving client banking challenges and gain access to perks and features, including financial incentives that scale with the number of clients each firm onboards, a Partner Portal where firm staff members can access and switch between client accounts from a single login, a dedicated account manager for each partner firm, and onboarding for each of the firm's clients to the Relay platform. Financial incentives for partners will range from $50 per approved account for firms that onboard one to two clients, up to $300 per account for firms with 50 or more clients onboarded. Partners who onboard 20 or more accounts will also be entitled to a monthly revenue share of 5% to 10% of interest earned on client deposits. Relay also announced a new Advisor Directory, where accounting and bookkeeping firms can be showcased to Relay's audience of small business owners, and a new Relay Ambassador sponsorship for advisors. The initiative will sponsor qualifying partners who host local events to educate entrepreneurs on the benefits of Relay's advisor-managed banking.

New funding

Truewind, a bookkeeping and finance solutions provider, announced that Thomson Reuters has invested $1 million in the company. The announcement comes just four months after its $3 million seed round announcement. … finally [sic], a fintech startup, announced $10 million in new capital to continue hiring and expand its suite of solutions to SMBs. The round was led by PeakSpan Capital with participation from Active Capital.

Other news

Fyle, an expense management solutions provider, announced a new integration with American Express to offer U.S. business and corporate card members the ability to issue on-demand virtual Cards via the Fyle platform. To achieve this integration, Fyle is participating in the American Express Sync Commercial Partner Program. With the integration, Customers with an American Express business or corporate card can issue unlimited virtual cards linked to their existing physical cards using Fyle. ... Spend management solutions provider LeaseQuery announced that it is now called FinQuery. The new name reflects an expanded focus on finance, accounting and IT for managing what companies lease, use and subscribe to, and the contracts that govern those agreements. Under its new name, FinQuery will now provide solutions for accounting, finance and IT teams through the FinQuery Platform for contract and spend intelligence. … Automation solutions provider Quadient announced that its financial automation cloud offerings for accounts receivable and accounts payable are endorsed as "Recommended Solutions" by Sage, a provider of accounting, financial, HR and payroll technology for millions of small and mid-sized businesses. … Accounting firm insights and analytics solutions provider InterVal announced the appointment of Dave Bunce as director of partnerships. As the director of partnerships, Bunce will spearhead initiatives to expand InterVal's strategic alliances.