KPMG and ServiceNow Join Forces to Transform Finance and Procurement Operations

KPMG and ServiceNow are strengthening their partnership to transform finance, supply chain, and procurement operations. Building on their longstanding relationship, the companies are now developing innovative solutions that will combine AI, low-code capabilities, and extensive industry expertise to deliver enhanced services in various sectors.

“Combining the business expertise of KPMG’s people with ServiceNow’s technologies has already helped many organizations upgrade their digital footprints and stay ahead of the rapid pace of innovation. Through this expanded alliance, we will help to deliver even more value and efficiency for clients—expediting their digital transformation journeys so they can achieve their business goals,” said Bill Thomas, Global Chairman and CEO of KPMG.

ServiceNow predicts that by 2025, the total addressable market for sourcing and procurement operations will reach $11 billion.

KPMG's expertise and market-leading insights will be combined with ServiceNow's newly introduced AI-powered Finance and Supply Chain Workflows. These workflows will complement customers' existing procurement and supply chain systems, streamlining processes, and enhancing the employee experience, ultimately leading to cost reduction and improved efficiency.

“In this new era of our long-standing partnership with KPMG, we’re injecting a step-function increase in speed for our customers’ business architecture. Our co-developed AI-driven solutions will maximize productivity and profitability across finance, supply chain, and procurement operations,” said Bill McDermott, Chairman and CEO, ServiceNow.

KPMG customers will adopt these new workflows to modernize their own processes and improve their employee experience. On the other hand, ServiceNow will benefit from KPMG's advisory expertise to optimize operations within its own finance organization.

Partnership benefits and offerings  

Intelligent automation is being employed to simplify intricate procurement processes, particularly in areas like IT and professional services. This automation covers various stages, including intake, sourcing, contracting, risk review, and finance. By implementing intelligent automation, KPMG clients can enhance procurement productivity by minimizing non-value-added tasks and achieving notable improvements in cycle times.

ServiceNow offers Clean Core ERP with App Engine, a low-code development tool that utilizes AI to identify legacy ERP technical debt that can be eliminated, updated, or automated. With this tool, both ServiceNow's clients and KPMG employees can create custom applications tailored to their specific business requirements. The low-code approach simplifies application development, allowing for faster and more efficient customization and improvement of ERP systems.

Moreover, KPMG firms will integrate ServiceNow's newly introduced generative AI capabilities into their operations to improve the self-service and work experience for both employees and clients. This AI solution will reduce the reliance on specialized teams to handle time-consuming, low-value procurement and supplier inquiries. ServiceNow's generative AI will enable quicker and more accurate responses to customer inquiries and uncover valuable insights within the Now Platform.

The collaboration between KPMG's extensive risk and procurement expertise and ServiceNow's advanced workflows enables the incorporation of automated security and compliance monitoring directly into their joint offerings. This integration empowers organizations to continuously monitor and detect high-impact risks effectively. By leveraging ServiceNow's risk and compliance solutions, along with third-party risk management offerings, businesses can meet regulatory compliance requirements and mitigate potential issues.

KPMG has also recently expanded its partnership with Microsoft to bring about significant changes in various aspects of professional services.