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EY named leading innovation advisory service

Independent market research firm Forrester has named Big Four professional services firm EY the worldʼs leading innovation advisor in its new 2018 Q4 report entitled "The Forrester Wave," according to a press release sent to the Budapest Business Journal.

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Forrester investigated the eight most significant companies in the area based on 17 criteria. The report analyzed companies providing innovation advisory services, evaluating their effect on the technological readiness, strategy, and company culture of their clients.

"The best analysts distinguish themselves by having a wide range of experience, based on which they can give appropriate advice to their clients," says Dan Bieler, leading analyst at Forrester. "EYʼs services are exceptional in terms of their breakthrough effect on company operations."

"Most large domestic companies recognize the importance of innovation; however, many only consider it a PR tool," says Ákos Demeter, partner of EY Hungaryʼs business advisory services. "Another typical example is the creation of external innovation centers, which, however, do not have a real effect on the parent companyʼs activities, operating in an isolated fashion. In order to make technologies improve the competitiveness of domestic companies, large companies have to become innovative themselves, all while operating in an agile way."

The report also noted that EY has developed software simulating business modeling, which lets large companies test their new solutions effectively in a realistic environment.