Ernst & Young LLP announced that Five Point Partners, LLC, a full-service consulting services firm serving the power and utility industry, has joined the EY organization in the US, Canada and Philippines. Five Point focuses on enterprise applications, especially customer information and billing systems, providing full life cycle, enterprise consulting services from information technology (IT) assessment and analysis, to implementation and post go-live support services.
"Five Point's renowned customer information systems (CIS) capabilities can help EY expand its own CIS services and together work with clients to replace their legacy customer relationship management and billing systems and transform their customer's experience," said Dana Hanson, a principal with Ernst & Young LLP and the Power & Utilities Advisory industry lead. "Together, we will work to create a better utility industry customer experience that is less confusing and more accurate, similar to EY's own charge of working with clients to build a better working world."
Hanson noted that many utilities are using aging customer information systems that will need to be upgraded or replaced to accommodate new requirements, such as net metering, as well as to provide more complex products and services. The utilities sector is expected to spend $4 to $5 billion a year over the next 4-7 years on CIS upgrades.
"Together, we will be able to offer utility companies the tools and guidance they require to transform their customer relationship and billing systems, and meet the emerging needs of their customers," said Richard Charles, president of Five Point. "We're proud to join a leading global professional services firm that values our knowledge and experience with respect to this rapidly changing part of the utility industry."
This acquisition will further strengthen the Advisory Services practice of Ernst & Young LLP, which provides performance improvement, technology enablement, risk consulting and business transformation services.
"Five Point's CIS and IT transformation capabilities in the utilities sector can also expand EY's capabilities around implementing CIS across multiple sectors," said Geoff Vickrey, a principal with Ernst & Young LLP and the EY Americas IT Advisory leader. "This transaction is just the latest example of EY's commitment to offering greater value and the most advanced technology services available to our clients. We are very pleased to welcome these highly talented professionals to EY."
About Five Point
Five Point's collaborative style, industry knowledge and proven methodologies guide their clients through complex technology and business transformation initiatives. Five Point utilizes industry applications from leading software providers to help clients reduce costs, save time, improve reliability, increase efficiencies and improve customer service.
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This news release has been issued by Ernst & Young LLP, an EY member firm providing services to clients in the US.