Multi-year cloud and AI alliance to supercharge the worker expertise and speed up innovation for shoppers throughout Audit, Tax and Advisory
LONDON and REDMOND, Wash. — July 11, 2023 — KPMG and Microsoft have introduced a big enlargement of their world relationship that may reshape skilled providers throughout various business-critical areas together with workforce modernization, secure and safe growth, and use of Artificial Intelligence (AI) options for shoppers, industries and society extra broadly.
The industry-leading collaboration between the 2 world organizations features a KPMG multibillion greenback dedication in Microsoft cloud and AI providers over the subsequent 5 years that may assist to unlock potential incremental development alternative for KPMG of over US$12 billion. The expanded alliance will improve KPMG shopper engagements and supercharge the worker expertise in a means that’s accountable, reliable and secure.
The Microsoft cloud and Azure OpenAI Service capabilities will empower the KPMG world workforce of 265,000 to unleash their creativity, present quicker evaluation and spend extra time on strategic recommendation. This will allow them to assist shoppers, together with greater than 2,500 KPMG & Microsoft joint shoppers, maintain tempo with the quickly evolving AI panorama and remedy their biggest enterprise challenges whereas positioning them for achievement sooner or later world of labor.
As an early entry companion for Microsoft 365 Copilot and Azure OpenAI Service, KPMG professionals will pilot the applied sciences with choose enterprise teams throughout the worldwide group, bringing collectively the elevated capabilities of those instruments with their expertise, insights and sector experience to boost shopper engagements and speed up digital resolution growth.
Bill Thomas, Global Chairman and CEO, KPMG International, stated: “Our renewed and strengthened relationship with Microsoft is an thrilling second for our individuals and our shoppers. It will assist harness the facility of our multidisciplinary mannequin by making certain that our individuals at all times have the correct experience, expertise, and instruments to beat challenges and supply the easiest recommendation to shoppers. It may even assist make KPMG a extra agile and resilient enterprise that continues to be an attention-grabbing and thrilling place to work.
This enlargement of our world alliance builds on the mixed energy of two world-class organizations that share a typical set of core values, working collectively to responsibly use cutting-edge cloud and AI applied sciences. KPMG is embracing the longer term, and we consider that AI is vital to unlocking sustainable development in a means that may construct a greater future for our individuals, our shoppers and society.”
Satya Nadella, Chairman and CEO, Microsoft, stated: “We have a real opportunity to apply this next generation of AI to help transform every industry, including professional services. Our expanded partnership with KPMG will bring together AI innovation across the Microsoft Cloud with KPMG’s tax, audit and advisory expertise to empower its employees and unlock insights for its customers.”
The collaboration which spans greater than a decade underpinned by this main enlargement will profit KPMG companies’ core enterprise areas within the following methods:
Audit
By infusing knowledge analytics, AI and Azure Cognitive Services into the audit course of, via the KPMG sensible audit platform KPMG Clara, 85,000 audit professionals who collectively work on lots of of hundreds of audits a yr might be empowered to focus extra carefully on higher-risk areas of the audit, sector-specific dangers and challenges – to the good thing about each stakeholders and capital markets. This integration additionally opens up new market alternatives for KPMG professionals and their shoppers. For instance, with the combination of Microsoft Fabric, KPMG groups could have the power to immediately level to shopper knowledge as a substitute of getting to ingest it, which is a key part to serving to allow KPMG professionals to carry out audits on a extra actual time foundation.
Tax
Integrating Azure OpenAI Service and Microsoft Fabric into KPMG Digital Gateway, a KPMG single platform resolution, will give shoppers entry to the total suite of KPMG Tax & Legal applied sciences, and permit them to achieve extra built-in and clear entry to their knowledge and take a extra holistic administration method to their tax features. This was demonstrated most just lately via a co-developed AI resolution utilizing the Azure OpenAI Service that helps to research environmental, social and governance (ESG) knowledge, set up knowledge patterns and draft ESG tax transparency reviews, all at elevated velocity and scale. Additionally, KPMG companies will function a generative-AI powered “virtual assistant” to create new shopper service fashions to assist tax professionals turn into extra environment friendly. It may even assist with revenue-generating alternatives reminiscent of product expertise enhancements and Knowledge administration for advanced tax legal guidelines.
Advisory
Developing an AI-enabled utility growth and data platform on Microsoft Azure will expedite the creation of specialised options for shoppers, serving to to boost their aggressive benefit and profitability whereas placing ethics and safety on the very core of the choices. The advantages and ongoing success of this continued collaboration already embrace a joint engagement with Coca-Cola EuroPacific Partners (CCEP) of which Peter Brickley, Chief Information Officer at CCEP stated, “KPMG and Microsoft are working together with Coca-Cola EuroPacific Partners on innovative use cases which pioneer improvements to back-office efficiency using generative AI on the Azure platform. By using this new technology, we will prepare our organization for the future, improve our employee experience and support our growth ambitions globally.”
Making an Impact
KPMG professionals will work along with Microsoft to assist help companies with their ESG agendas. Building on the success of the KPMG Circularity Tracker and an ESG and local weather knowledge administration and analytics resolution, each of which have Microsoft Cloud for Sustainability and Microsoft Azure at their core, joint groups will proceed to assist shoppers to unify their knowledge sources, leverage the required inputs to assist make real-time value-add selections, and assist them to ship on their sustainability commitments.
In addition, to boost the business prospects of the settlement, KPMG and Microsoft will proceed to discover and take part in joint alternatives the place they’ll work collectively to drive social and group affect worldwide. These at present embrace the UNESCO world training coalition and KPMG’s 10×30 technique to assist economically empower 10 million underprivileged youths by 2030 — via training, employment and entrepreneurship alternatives. The corporations may even proceed to work collectively to boost the reliability of carbon accounting via the Carbon Call to which each KPMG and Microsoft had been founding signatories.
For media inquiries, please contact:
Kathryn Wright, Head of Global External Communications, KPMG International
T: +44 (0)7880784296
E: [email protected]
Microsoft Media Relations, WE Communications for Microsoft
T: +1 (425) 638-7777
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Editor’s word – July 12, 2023 – The word to editors about extra shoppers already seeing the advantages of KPMG groups was eliminated.