Ernst & Young Ranks High For Tech Innovation

Information Week magazine has published its annual InformationWeek 500 list of the 500 companies that are providing leadership in the technology field. Big Four accounting firm Ernst & Young not only made it onto the list but into the top 50, ranking 26th of the 500. KPMG Consulting (now BearingPoint) also appeared on this list, ranked at 306.

Firms are ranked according to patterns of technical, operational, and organization innovation. Particularly in these tough economic times, firms that found innovative methods for taking advantage of technology while cutting back on costs, and firms that have discovered ways to use technology so that it positively impacts net earnings found their way onto the list.

Companies that ranked high found better ways to share data with customers, speed data collection, secure data against hackers, speed research, and keep technical staff motivated.

The survey analyzed companies with annual revenue of $1 billion or more. The average InformationWeek 500 company spends about 3.4% of annual revenue on IT. That translates into an average of $320 million, way down from the average $484 million was spent a year ago. Included in that spending are salaries and benefits (28%), software applications (21%), new products and technology (20%), consulting and outsourcing (18%), and research and development (2.5%).

The complete 28-page report is available for a fee of $495. You can read a summary of the report and see the complete list of the 500 firms online at the InformationWeek.com Web site.

You may like these other stories...

Here's a CPA who truly walks the walk. On March 15, Frank Ryan, CPA, departed San Diego, California, with plans to be in Ocean City, Maryland, by July 2 to teach a course at the Maryland Association of CPAs’ (MACPA...
When Theodore J. Flynn first joined the Massachusetts Society of CPAs (MSCPA) in 1970, it was a different world and a different profession.  The "Big Eight" were still headquartered in Boston. Vietnam War...
Accountant Rickey Charles Goodrich had it a little too good. Many bean counters would kill to serve as financial guru to the likes of Pearl Jam. Goodrich was hired in 2005, and the following year, he became the CFO of Curtis...

Already a member? log in here.

Upcoming CPE Webinars

Oct 30Many Excel users have a love-hate relationship with workbook links.
Nov 5Join CPA thought leader and peer reviewer Rob Cameron and learn ways to improve the outcome of your peer reviews while maximizing the value of your engagement workflow.
Nov 12This webcast presents basic principles of revenue recognition, including new ASU 2014-09 for the contract method. Also, CPAs in industries who want a refresher on revenue accounting standards will benefit.
Nov 18In this session Excel expert David Ringstrom, CPA tackles what to do when bad things happen to good spreadsheets.