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 growth of their world relationship that can reshape skilled companies throughout quite a few business-critical areas together with workforce modernization, secure and safe growth, 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 companies over the following 5 years that can assist to unlock potential incremental development alternative for KPMG of over US$12 billion. The expanded alliance will improve KPMG consumer engagements and supercharge the worker expertise in a method 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 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, hold tempo with the quickly evolving AI panorama and remedy their best enterprise challenges whereas positioning them for fulfillment sooner or later world of labor.
As an early entry accomplice 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 reinforce consumer engagements and speed up digital resolution growth.
Invoice Thomas, World Chairman and CEO, KPMG Worldwide, mentioned: “Our renewed and strengthened relationship with Microsoft is an thrilling second for our individuals and our shoppers. It’s going to assist harness the ability of our multidisciplinary mannequin by guaranteeing that our individuals at all times have the suitable 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 fascinating 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 development in a method that can construct a greater future for our individuals, our shoppers and society.”
Satya Nadella, Chairman and CEO, Microsoft, mentioned: “We have now an actual alternative to use this subsequent technology of AI to assist remodel each {industry}, together with skilled companies. Our expanded partnership with KPMG will deliver 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 companies’ core enterprise areas within the following methods:
Audit
By infusing knowledge analytics, AI and Azure Cognitive Providers into the audit course of, via the KPMG sensible audit platform KPMG Clara, 85,000 audit professionals who collectively work on lots of of 1000’s of audits a yr might be empowered to focus extra intently 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 mixing of Microsoft Material, KPMG groups could have the power to straight level to consumer knowledge as an alternative of getting to ingest it, which is a key element to serving to allow KPMG professionals to carry out audits on a extra actual time foundation.
Tax
Integrating Azure OpenAI Service and Microsoft Material into KPMG Digital Gateway, a KPMG single platform resolution, 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 knowledge and take a extra holistic administration strategy to their tax capabilities. This was demonstrated most 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 experiences, all at elevated pace and scale. Moreover, KPMG companies will function a generative-AI powered “digital assistant” to create new consumer service fashions to assist tax professionals change into extra environment friendly. It’s going to additionally assist with revenue-generating alternatives resembling product expertise enhancements and Data administration for complicated tax legal guidelines.
Advisory
Growing an AI-enabled utility growth and information platform on Microsoft Azure will expedite the creation of specialised options for shoppers, serving to to reinforce 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 Data Officer at CCEP mentioned, “KPMG and Microsoft are working along with Coca-Cola EuroPacific Companions on modern use instances which pioneer enhancements to back-office effectivity utilizing generative AI on the Azure platform. Through the use of this new know-how, we’ll put together our group for the longer term, enhance our worker expertise and assist our development ambitions globally.”
Making an Impression
KPMG professionals will work along with Microsoft to assist assist companies with their ESG agendas. Constructing 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.
As well as, to reinforce the business prospects of the settlement, KPMG and Microsoft will proceed to discover and take part in joint alternatives the place they will work collectively to drive social and neighborhood influence worldwide. These at present embody 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 businesses may even proceed to work collectively to reinforce the reliability of carbon accounting via the Carbon Name to which each KPMG and Microsoft had been founding signatories.
For media inquiries, please contact:
Kathryn Wright, Head of World 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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