KPMG expects to invest US$5 billion in digital strategy
KPMG expects to invest US$5 billion in digital strategy
KPMG expects to invest US$5 billion in digital strategy and expand Microsoft alliance to accelerate professional services transformation
KPMG and Microsoft Corp. are strengthening their global relationship through a five-year agreement to accelerate digital transformation for KPMG member firms and mutual clients. As part of its announcement to significantly invest in technology, people and innovation , KPMG is modernizing its workplace using the Microsoft 365 suite of cloud-based collaboration and productivity tools, including Microsoft Teams. KPMG is also utilizing Microsoft Azure and Azure AI as the backbone for a new common, global cloud-based platform. The platform will strengthen KPMG’s range of digital offerings with new innovations in cloud-based audit capabilities, tax solutions and risk management. Clients in all sectors, including those in highly regulated industries, benefit from globally consistent and continuous service delivery that enables greater speed of deployment while adhering to industry-leading compliance and security standards.
“Together with KPMG, we’re accelerating digital transformation across industries by bringing the latest advances in cloud, AI and security to highly regulated workloads in tax, audit and advisory,” said Satya Nadella, CEO, Microsoft. “KPMG’s deep industry and process expertise, combined with the power of our trusted cloud — spanning Azure, Dynamics 365 and Microsoft 365 — will bring the best of both organizations together to help customers around the world become more agile in an increasingly complex business environment.”
New business-critical solutions
As organizations expand to new geographies, develop new products and recruit new talent, processes can become increasingly complex and harder to scale. Market forces, such as evolving data protection laws, currency fluctuations and geopolitical tensions, increase the complexity and require a greater responsiveness for systems and tools.
The strong portfolio of KPMG and Microsoft alliance offerings can help address these challenges more quickly by building applications on demand, automating manual processes, and continuously analyzing information to minimize the risk of errors and increase the ability to make smart decisions.
“Our alliance with Microsoft has become a critical component in helping us deliver industry-leading solutions and services to clients. Our significant multiyear investment continues to empower our people to work more efficiently and collaboratively while maximizing the power of a workforce that blends people and technology,” said Bill Thomas, Global Chairman, KPMG International. “By harnessing Microsoft’s intelligent and trusted cloud, we aim to help clients be at the forefront of change and better prepared for a digital-first future.”
Combining industry expertise with advanced technology
Through a jointly funded incubator, KPMG and Microsoft are co-developing a robust portfolio of solutions and managed services in the areas of cloud business transformation, intelligent business applications and smart workplace solutions.
For example, KPMG in the U.S. and Microsoft are working together to bring the power of Azure to the healthcare and life sciences industries. This collaboration is enabling organizations within this highly regulated sector to maximize their clinical, operational and financial performance with an easily scalable solution that helps improve deployment speed, accelerate ROI and increase data-driven insights.
In addition, KPMG in the Netherlands has developed risk management, compliance and internal audit solutions that leverage discovery tools to enable the digitization of risk and compliance processes across domains such as finance, legal and IT. Designed by KPMG and built on Microsoft Azure, the solutions provide seamless and cost-efficient policy and controls automation, putting smart analytics directly in the hands of business and IT operators so they can make timely, corrective actions when deviations occur.
Smart audit platform
KPMG, with the launch of its smart audit platform KPMG Clara in 2017, became the first of the Big Four to take its audit workflow to the cloud. Based on Microsoft Azure, KPMG Clara is an automated, agile, intelligent and scalable platform that allows KPMG professionals to work smarter, bringing powerful data and analytics capabilities into one interface, while allowing clients to interact on a real-time basis with the audit process.
By enriching the audit mandate with AI, KPMG enables its professionals to make decisions based on real-time data. This further reinforces KPMG’s commitment to maintaining and enhancing audit quality and building a future where technology continually enriches the audit through the introduction of new digital advancements.
KPMG Clara will integrate with Microsoft Teams, providing a platform for audit professionals to centrally manage and securely share audit files, track audit-related activities, and communicate using chat, voice and video meetings. This helps simplify the auditors’ workflow, enabling them to stay in sync throughout the entire process and drive continuous communication with the client.
Empowering workforce transformation
Through its common, global cloud platform, KPMG will create a set of cloud-based capabilities ranging from hosting infrastructure based on Microsoft Azure to more than 50 advanced solutions, such as AI, cyber and robotic process automation (RPA). KPMG will further empower its global workforce of over 207,000 employees across 153 countries with Microsoft 365, including Teams, to better meet the needs of clients through increased collaboration, improved productivity and data-driven insights. In addition, more than 30,000 KPMG professionals across 17 member firms have been equipped with Dynamics 365, a suite of powerful customer relationship applications.
About KPMG International
KPMG is a global network of professional services firms providing Audit, Tax and Advisory services. We operate in 153 countries and territories and have 207,000 people working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. Each KPMG firm is a legally distinct and separate entity and describes itself as such.
Microsoft (Nasdaq “MSFT” @microsoft) enables digital transformation for the era of an intelligent cloud and an intelligent edge. Its mission is to empower every person and every organization on the planet to achieve more