Ernst & Young Acquires SMA
Big 5 firm, Ernst & Young, LLP (EY), just acquired the assets of Chicago-based Shipman Maison Associates (SMA). SMA provides software products that enable large corporations to screen and track employees and maximize tax incentives such as Work Opportunity Tax Credits (WOTC).
This is an opportunity for EY to provide an even stronger incentives offering for clients. There are many ways that employers can utilize employment related incentives from federal, state and local governments and the people at SMA will help the firm do just that.
SMA’s proprietary software, SMA Target (c) is the only available product with local computer service capability. The tool turns employee capital into a trackable asset, much like companies track financial assets. Employers will be able to cash in on government programs while analyzing training needs and monitoring employee stats.
This move was motivated by an all-time low unemployment rate and an emphasis that focuses on moving large numbers of poorly trained, low skilled workers into the work force. Government incentives are helping corporations take advantage of this hugely untapped employment pool. SMA’s software will ensure these corporations get the full benefits associated with their new hires.