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 major growth of their world relationship that can reshape skilled providers throughout various business-critical areas together with workforce modernization, protected and safe improvement, and use of Synthetic 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 can assist to unlock potential incremental progress alternative for KPMG of over US$12 billion. The expanded alliance will improve KPMG shopper engagements and supercharge the worker expertise in a method that’s accountable, reliable and protected.
The Microsoft cloud and Azure OpenAI Service capabilities will empower the KPMG world workforce of 265,000 to unleash their creativity, present sooner evaluation and spend extra time on strategic recommendation. This can 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 answer improvement.
Invoice Thomas, International Chairman and CEO, KPMG Worldwide, stated: “Our renewed and strengthened relationship with Microsoft is an thrilling second for our folks and our shoppers. It’s going to assist harness the ability of our multidisciplinary mannequin by making certain that our folks at all times have the fitting experience, abilities, and instruments to beat challenges and supply the perfect recommendation to shoppers. It’s going to additionally assist make KPMG a extra agile and resilient enterprise that continues to be an attention-grabbing and thrilling place to work.
This growth 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 essential to unlocking sustainable progress in a method that can construct a greater future for our folks, our shoppers and society.”
Satya Nadella, Chairman and CEO, Microsoft, stated: “We’ve an actual alternative to use this subsequent era of AI to assist remodel each {industry}, together with skilled providers. Our expanded partnership with KPMG will convey collectively AI innovation throughout the Microsoft Cloud with KPMG’s tax, audit and advisory experience to empower its workers and unlock insights for its prospects.”
The collaboration which spans greater than a decade underpinned by this main growth will profit KPMG corporations’ core enterprise areas within the following methods:
Audit
By infusing information analytics, AI and Azure Cognitive Providers into the audit course of, by means of the KPMG good audit platform KPMG Clara, 85,000 audit professionals who collectively work on tons of of hundreds of audits a yr will likely be empowered to focus extra intently on higher-risk areas of the audit, sector-specific dangers and challenges – to the advantage of 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 Cloth, KPMG groups can have the flexibility to immediately level to shopper information 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 Cloth into KPMG Digital Gateway, a KPMG single platform answer, will give shoppers entry to the complete suite of KPMG Tax & Authorized applied sciences, and permit them to realize extra built-in and clear entry to their information and take a extra holistic administration method to their tax capabilities. This was demonstrated most not too long ago by means of a co-developed AI answer utilizing the Azure OpenAI Service that helps to investigate environmental, social and governance (ESG) information, set up information patterns and draft ESG tax transparency reviews, all at elevated pace and scale. Moreover, KPMG corporations will function a generative-AI powered “digital assistant” to create new shopper service fashions to assist tax professionals grow to be extra environment friendly. It’s going to additionally assist with revenue-generating alternatives resembling product expertise enhancements and Information administration for advanced tax legal guidelines.
Advisory
Creating an AI-enabled software improvement and information 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 embody a joint engagement with Coca-Cola EuroPacific Companions (CCEP) of which Peter Brickley, Chief Info Officer at CCEP stated, “KPMG and Microsoft are working along with Coca-Cola EuroPacific Companions on revolutionary use circumstances which pioneer enhancements to back-office effectivity utilizing generative AI on the Azure platform. By utilizing this new know-how, we’ll put together our group for the longer term, enhance our worker expertise and help our progress ambitions globally.”
Making an Affect
KPMG professionals will work along with Microsoft to assist help companies with their ESG agendas. Constructing on the success of the KPMG Circularity Tracker and an ESG and local weather information administration and analytics answer, each of which have Microsoft Cloud for Sustainability and Microsoft Azure at their core, joint groups will proceed to assist shoppers to unify their information sources, leverage the required inputs to assist make real-time value-add choices, and assist them to ship on their sustainability commitments.
As well as, 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 neighborhood affect worldwide. These at the moment embody the UNESCO world schooling coalition and KPMG’s 10×30 technique to assist economically empower 10 million underprivileged youths by 2030 — by means of schooling, employment and entrepreneurship alternatives. The businesses will even proceed to work collectively to boost the reliability of carbon accounting by means of the Carbon Name to which each KPMG and Microsoft had been founding signatories.
For media inquiries, please contact:
Kathryn Wright, Head of International Exterior Communications, KPMG Worldwide
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 notice – July 12, 2023 – The notice to editors about further shoppers already seeing the advantages of KPMG groups was eliminated.
