Professional services firm KPMG has announced plans to invest $5bn over the next five years to accelerate the digital transformation of the company and its clients.
As part of its investment plans, KPMG has signed a five-year agreement with Microsoft under which the tech firm will modernise KPMG’s workplace using Microsoft 365 suite of cloud-based collaboration and productivity tools, including Microsoft Teams.
Microsoft will also deploy its Azure cloud and Artificial Intelligence (AI) capabilities as the backbone for a new, common global cloud-based platform.
The new platform could strengthen the professional services firm’s digital offerings with cloud-based audit capabilities, tax solutions and risk management.
Clients from all sectors including those in highly regulated industries could benefit from the globally consistent and continuous service delivery, enabling faster deployment while adhering to global compliance and security standards.
KPMG plans to invest in technology, people and innovation over the next five years
KPMG announced its plans to invest in technology, people and innovation over the next five years to strengthen its position in the digital transformation of its professional services.
KPMG stated that by invested in cloud-based platforms, it can drive the quality of service delivery and new client-facing business solutions and managed services. By augmenting the digital skills of its personnel, KPMG can expand talent in areas such as data science and digital architecture.
By investing in innovation, the Dutch professional services company aims to extend the range of digital offerings and win work through a diversified ecosystem of strategic alliances and a global innovation network.
KPMG International global chairman Bill Thomas said: “Technology is disrupting organizations across the globe. Clients are turning to us like never before and trust KPMG professionals to help them implement, manage and optimize the digital transformation of their organizations.
“Our investment places KPMG firmly at the forefront of this digital shift and enhances our position as a digital leader in professional services.”
The partnership between KPMG and Microsoft could address challenges such as developing new products, recruiting new talent and complex processes by developing applications on-demand, automating manual processes and continuously analysing information to minimise the risk of errors and to increase the ability to make smart decisions.
The two companies are co-developing a portfolio of solutions and managed services, through a jointly funded incubator. The areas that are covered include cloud business transformation, intelligent business applications and smart workplace solutions.
