EY unveils new business model for companies in Oman

Muscat: Ernst & Young (EY) has launched the EY Growth Solution framework catering to mid-sized companies in Oman.
The new business model is an on-demand solution that has already been implemented across the Middle East and North Africa (Mena) region and is now available for organisations in Oman.
According to EY, the framework design is based on extensive research, which has analysed organisation across the world based on their opinion, perception, growth and requirements, and has emerged with a holistic one stop solution.
“EY has been doing research on this around the globe for approximately two years. We have also dedicated nine months of research in the Omani market alone before launching this,” said Michael Green, managing partner at EY.
The innovative model that aims to achieve an accelerated growth for subscribed organisation has identified ‘seven pillars of growth’ where consultation would be provided, namely customer, operations, funding and finance, digital technology and analytics, transaction and alliances, people behaviour and culture and risk.
These seven pillars will address a comprehensive range of topics including competition, social media intelligence, price optimisation, returns of media campaigns, business continuity management and regulation compliance.
A subscribed organisation would be provided with a report regarding the ‘seven pillars of growth’, which would include immediate to long-term advice, depending on their requirements. The organization is free to pursue the prescribed actions independently or be subscribed to the framework to receive support in implementation.
The announcement has come when government organisations have been focusing heavily on diversification and developing in country value.
According to Ahmed Al Esry, managing partner at EY, the currently government organisations are urgently focusing on increasing revenues by slashing subsidies and introducing taxes, which makes it harder for the middle sized companies to thrive in the market.
“The mid-sized companies are at a disadvantage by recent government measures as they lack the expertise in areas such as VAT (value added tax) while larger organisations with an international footprint would find it easier to comply with government standards. EY Growth Solutions aims to alleviate the negative effects on mid-sized companies,” he said.
Mohammed Nayaz, managing partner at EY, reiterated that this service is not exclusive to the private sector and public organisations can make use of this service as well.
“We aim to provide both government and private organizations with consultation based on their requirements and decision making. Using our intellectual property, we can predict the public reactions to decisions made by the organisation and thereby inform them in advance about the perceived effect of their decisions,” he said.