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

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.

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. 

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.