KPMG and Microsoft have unveiled an expansion of their global partnership, which will bring about significant changes in various aspects of professional services. They will focus on transforming the workforce, ensuring secure and reliable software development, and leveraging artificial intelligence solutions to benefit clients, industries, and society as a whole.
As part of their partnership, KPMG and Microsoft have committed to invest billions of dollars in Microsoft's cloud and AI services over the next five years. This strategic move is expected to generate significant additional growth opportunities for KPMG, estimated to surpass $12 billion.
“Our renewed and strengthened relationship with Microsoft is an exciting moment for our people and our clients. It will help harness the power of our multidisciplinary model by ensuring that our people always have the right expertise, skills, and tools to overcome challenges and provide the very best advice to clients. It will also help make KPMG a more agile and resilient business that continues to be an interesting and exciting place to work. This expansion of our global alliance builds on the combined power of two world-class organizations that share a common set of core values, working together to responsibly use cutting-edge cloud and AI technologies,” said Bill Thomas, Global Chairman and CEO, KPMG International.
KPMG will act as an early access partner for Microsoft 365 Copilot and Azure OpenAI Service, allowing select business groups within the organization to pilot these technologies. This integration of advanced tools with KPMG's expertise, insights, and industry knowledge will enhance client engagements and accelerate the development of digital solutions.
"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," said Satya Nadella, Chairman and CEO, Microsoft.
Audit
In the field of audit, the implementation of data analytics, artificial intelligence (AI), and Azure Cognitive Services within the KPMG smart audit platform, known as KPMG Clara, will have a strong impact. This integration will help the audit professionals at KPMG focus on higher-risk aspects of audits, sector-specific risks, and challenges.
Furthermore, this opens up new market opportunities for both KPMG professionals and their clients. For instance, the integration of Microsoft Fabric will enable KPMG teams to directly access client data, eliminating the need for data ingestion. This is crucial for enabling real-time audits and enhances the agility and efficiency of KPMG professionals in performing their duties.
Tax
The integration of Azure OpenAI Service and Microsoft Fabric into KPMG's Digital Gateway, a unified platform solution, will provide clients with comprehensive access to KPMG Tax & Legal technologies. This will enable clients to have a more integrated and transparent view of their data, allowing for a holistic management approach to their tax functions. One notable application of this collaboration is the development of an AI solution using Azure OpenAI Service that analyzes environmental, social, and governance (ESG) data. This AI-powered solution identifies data patterns and generates ESG tax transparency reports at a faster pace and on a larger scale.
Moreover, KPMG firms will leverage generative AI to create a "virtual assistant" that supports tax professionals in improving efficiency and assists in various areas, including developing new client service models, enhancing product experiences, and facilitating knowledge management for complex tax laws.
Advisory
Through the development of an AI-enabled application development and knowledge platform on Microsoft Azure, KPMG and Microsoft aim to accelerate the creation of customized solutions for clients, focusing on enhancing clients' competitive advantage and profitability while prioritizing ethics and security.
KPMG and Microsoft will collaborate to support businesses with their ESG agendas, leveraging data management and analytics solutions. They will help clients unify data sources, make real-time value-add decisions, and meet sustainability commitments. The partnership will also focus on driving social impact through initiatives like the UNESCO global education coalition and empowering underprivileged youths.
Elsewhere, KPMG and Acquia have joined forces to provide the Acquia Open Digital Experience Platform (Acquia DXP) to enterprise clients across various industries, enabling marketing, content, and IT teams to develop customized, secure digital experiences at scale.
