Tech News: E&Y announces quantum computing deal with IBM

Published April 14, 2023 11:00 AM

Updated April 14, 2023 11:52 AM

1 Min Read

E&Y announced a quantum computing deal with IBM; Nova Technology announced the international release of blockchain-powered credit management; and other accounting technology news.

E&Y announces quantum computing deal with IBM

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Big Four firm E&Y announced that EY Global Services Ltd. will be joining the IBM Quantum Network, which will give it access to IBM's fleet of quantum computers over the cloud, and will become part of the IBM Quantum Network's community of organizations working to advance quantum computing. Using IBM quantum technology, EY teams plan to conduct practice research to uncover new use cases, including the reduction of CO2 emissions from classical computing; the improvement of safety and accuracy of self-driving cars; and, most critically, integrating quantum benefits into organizations' mainstream systems for data processing and enterprise decision making. Other possible use cases for quantum computing applicable to the accounting realm include fraud detection, portfolio optimization, business analysis and cryptography. E&Y it is also investing $10 billion in technology initiatives over three years, including investment in its own quantum function.

Nova Technology announces blockchain credit management tool

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Invoicing solutions provider Nova Technology announced that its blockchain-powered credit management tool is now available globally. Companies that use its software can verify the authenticity of invoices through the blockchain. The enterprise also utilizes Internet of Things sensors and smart contracts to enable real-time monitoring and invoicing of shipments throughout supply chain operations, reducing the potential for human error or fraud. The company also announced plans to expand into Australia and South America, adding on to the New York, Tokyo, Singapore, Dubai and Toronto offices they already have.

Open Envoy forms advisory board

OpenEnvoy, which offers real-time accounts payable automation software, announced the formation of a new advisory board. Its membership includes former Twitter COO Adam Bain, as well as Ravi Thakur and Mark Verbeck, both of whom previously worked for payment and expense software firm Coupa. The advisory board will assist the company's management team as they execute their go-to-market strategy.

LeaseQuery joins IT Alliance as partner

Lease accounting software company LeaseQuery announced that it has joined the Information Technology Alliance, a group made up of leading consulting firms, resellers, CPA firms and technology product/service providers. The primary focus of ITA is to provide an independent forum for leading IT business owners to exchange information, share best practices, assess the current status and future direction of the profession, and thereby improve their overall business results. As a new ITA member, LeaseQuery will attend the ITA 2023 Spring Collaborative in Vancouver in late April.

Other news

AuditClub, the auditors-as-a-service company, announced that Brian Yujuico has been named vice president and senior chief auditor. In this newly created role, Yujuico, a CPA, will oversee day-to-day activities of the growing team of chief auditors, crew and cadets. He will also drive the growth of the newly introduced assisted entrepreneurship career alternative, AuditClub One, and other strategic company initiatives. … Thomson Reuters said that its ONESOURCE Indirect Tax has achieved SAP certification for integration with the SAP S/4HANA Cloud, private edition. The SAP certification validates that ONESOURCE follows SAP guidelines for third-party add-ons, ensuring high levels of security and performance for customers.