KPMG and Microsoft Corp. are strengthening their global relationship through a five-year agreement to accelerate digital transformation for KPMG member firms and mutual clients.
As part of its announcement to significantly invest in technology, people and innovation,, KPMG is modernizing its workplace using the Microsoft 365 suite of cloud-based collaboration and productivity tools, including Microsoft Teams.
KPMG is also utilizing Microsoft Azure and its AI capabilities as the backbone for a new common, global cloud-based platform. The platform will strengthen KPMG’s range of digital offerings with new innovations in cloud-based audit capabilities, tax solutions and risk management. Clients in all sectors, including those in highly regulated industries, benefit from globally consistent and continuous service delivery that enables greater speed of deployment while adhering to industry-leading compliance and security standards.
“Together with KPMG, we’re accelerating digital transformation across industries by bringing the latest advances in cloud, AI and security to highly regulated workloads in tax, audit and advisory,” said Satya Nadella, CEO, Microsoft. “KPMG’s deep industry and process expertise, combined with the power of our trusted cloud — spanning Azure, Dynamics 365 and Microsoft 365 — will bring the best of both organizations together to help customers around the world become more agile in an increasingly complex business environment.”
As organizations expand to new geographies, develop new products and recruit new talent, processes can become increasingly complex and harder to scale. Market forces, such as evolving data protection laws, currency fluctuations and geopolitical tensions, increase the complexity and require a greater responsiveness for systems and tools.
The strong portfolio of KPMG and Microsoft alliance offerings can help address these challenges more quickly by building applications on demand, automating manual processes, and continuously analyzing information to minimize the risk of errors and increase the ability to make smart decisions.
“Our alliance with Microsoft has become a critical component in helping us deliver industry-leading solutions and services to clients. Our significant multiyear investment continues to empower our people to work more efficiently and collaboratively while maximizing the power of a workforce that blends people and technology,” said Bill Thomas, Global Chairman, KPMG International. “By harnessing Microsoft’s intelligent and trusted cloud, we aim to help clients be at the forefront of change and better prepared for a digital-first future.”
Through a jointly funded incubator, KPMG and Microsoft are co-developing a robust portfolio of solutions and managed services in the areas of cloud business transformation, intelligent business applications and smart workplace solutions.
KPMG, with the launch of its smart audit platform KPMG Clara in 2017, became the first of the Big Four to take its audit workflow to the cloud. Based on Microsoft Azure, KPMG Clara is an automated, agile, intelligent and scalable platform that allows KPMG professionals to work smarter, bringing powerful data and analytics capabilities into one interface, while allowing clients to interact on a real-time basis with the audit process.
By enriching the audit mandate with AI, KPMG enables its professionals to make decisions based on real-time data. This further reinforces KPMG’s commitment to maintaining and enhancing audit quality and building a future where technology continually enriches the audit through the introduction of new digital advancements.
KPMG Clara will integrate with Microsoft Teams, providing a platform for audit professionals to centrally manage and securely share audit files, track audit-related activities, and communicate using chat, voice and video meetings. This helps simplify the auditors’ workflow, enabling them to stay in sync throughout the entire process and drive continuous communication with the client.
