KPMG and ServiceNow announce expanded commitment to reimagine finance, supply chain, and procurement operations
26 Julho 2023 - 10:00AM
Business Wire
Commitment includes significant joint
investment in new offerings combining AI, low-code capabilities,
and deep industry expertise
KPMG and ServiceNow (NYSE: NOW), today announced an expanded
commitment to reimagine finance, supply chain, and procurement
operations. The expanded partnership is part of a decade-long
relationship that spans IT, HR, risk, cybersecurity, and
environmental, social and governance (ESG), includes investment
from both organizations to create new offerings that bring together
AI, low-code capabilities, and deep industry knowledge and
expertise.
ServiceNow estimates there is a $11 billion total addressable
market by 2025 for sourcing and procurement operations as well as a
multibillion-dollar opportunity for finance and supply chain
solutions that bring together people, processes, data, and
technology on one, simplified platform. While early engagement is
critical for procurement to be able to influence spending and
enable better decision making, many internal customers are
frustrated by the lack of transparency and fragmentation across the
procurement and approval processes.
The joint effort combines the breadth of experience and
market‑leading industry insights of KPMG professionals with
ServiceNow’s recently announced AI-powered Finance and Supply Chain
Workflows that complements customers' existing procurement and
supply chain systems, streamlines processes, and improves the
employee experience while helping reduce costs and increasing
efficiency. KPMG firms will use the new workflows to modernize
their own processes and enhance the employee experience. Further,
ServiceNow will leverage KPMG’s advisory expertise to optimize
operations within its own finance organization.
“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,” said Bill Thomas, Global Chairman and CEO of KPMG.
“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.”
“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,” said ServiceNow Chairman and CEO
Bill McDermott. “Our co-developed AI-driven solutions will maximize
productivity and profitability across finance, supply chain, and
procurement operations.”
The expanded partnership will build on KPMG’s professional
services expertise and ServiceNow’s Finance and Supply Chain
Workflows in the following areas:
- Intelligent automation: Complex procurement processes,
such as IT and professional services, are streamlined using
intelligent automation across intake, sourcing, contracting, risk
review, and finance. KPMG clients can increase procurement
productivity by reducing non-value-added tasks while also
significantly improving cycle times.
- Low-code: ServiceNow’s Clean Core ERP with App
Engine, a low‑code development tool that uses AI and identifies
legacy ERP technical debt that can be removed, replaced, or
automated. Clients and KPMG employees can build custom applications
that help to meet their unique business needs, while also creating
easy to use experiences.
- Generative AI: KPMG firms will embed ServiceNow’s
recently announced generative AI capabilities into their operations
to help enhance the self-service and work experience for employees
and clients. The solution will help to reduce the need for
dedicated teams to triage and manage time-consuming, but low value
procurement and supplier inquiries allowing more time to focus on
more critical business imperatives. ServiceNow’s generative AI
capabilities will enable better and faster answers to customer
inquiries, unlock insights within the Now Platform®️, and help to
improve overall work processes for increased efficiency and
business transformation.
- Enterprise risk management: Through KPMG’s deep risk and
procurement expertise and ServiceNow's workflows, automated
security and compliance monitoring is built directly into the
portfolio of joint offerings, helping organizations to continuously
track and identify high-impact risks. Using ServiceNow’s risk and
compliance solutions and third-party risk management offerings will
assist businesses to operate with the confidence that they are
consistently meeting regulatory compliance requirements and
mitigating issues.
In recognition of KPMG’s work to deliver game-changing digital
solutions that help to significantly transform organizations
through outstanding value and impact, the company was named the
2023 and 2022 ServiceNow Worldwide Transformation Partner of the
Year.
To learn more about KPMG and ServiceNow’s work together, visit
this page.
Use of Forward‑Looking Statements
This press release contains “forward‑looking statements” about
the expectations, beliefs, plans, intentions and strategies
relating to the market opportunity and growth of the Now Platform
and alliance with KPMG. Forward‑looking statements are subject to
known and unknown risks and uncertainties and are based on
potentially inaccurate assumptions that could cause actual results
to differ materially from those expected or implied by the
forward‑looking statements. If any such risks or uncertainties
materialize or if any of the assumptions prove incorrect, our
results could differ materially from the results expressed or
implied by the forward‑looking statements we make. We undertake no
obligation, and do not intend, to update the forward‑looking
statements. Factors that may cause actual results to differ
materially from those in any forward‑looking statements include
difficulties and expenses in achieving market growth and/or
opportunity and delays and unexpected difficulties and expenses in
executing the alliance or delivering the expected product
capabilities and offerings. Further information on factors that
could affect our financial and other results is included in the
filings we make with the Securities and Exchange Commission from
time to time.
About KPMG International
KPMG is a global organization of independent professional
services firms providing Audit, Tax and Advisory services. KPMG is
the brand under which the member firms of KPMG International
Limited (“KPMG International”) operate and provide professional
services. “KPMG” is used to refer to individual member firms within
the KPMG organization or to one or more member firms
collectively.
KPMG firms operate in 143 countries and territories with more
than 265,000 partners and employees working in member firms around
the world. Each KPMG firm is a legally distinct and separate entity
and describes itself as such. Each KPMG member firm is responsible
for its own obligations and liabilities.
KPMG International Limited is a private English company limited
by guarantee. KPMG International Limited and its related entities
do not provide services to clients.
About ServiceNow
ServiceNow (NYSE: NOW) makes the world work better for everyone.
Our cloud‑based platform and solutions help digitize and unify
organizations so that they can find smarter, faster, better ways to
make work flow. So employees and customers can be more connected,
more innovative, and more agile. And we can all create the future
we imagine. The world works with ServiceNowTM. For more
information, visit: www.servicenow.com.
© 2023 ServiceNow, Inc. All rights reserved. ServiceNow, the
ServiceNow logo, Now, and other ServiceNow marks are trademarks
and/or registered trademarks of ServiceNow, Inc. in the United
States and/or other countries. Other company names, product names,
and logos may be trademarks of the respective companies with which
they are associated.
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version on businesswire.com: https://www.businesswire.com/news/home/20230726182043/en/
KPMG Media Relations Christine Curtin 201-307-8663
ccurtin@kpmg.com
ServiceNow Media Relations Lindsay Capurro 503‑551‑2655
press@servicenow.com
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