KPMG and ServiceNow, announced an expanded commitment to upgrade their clients’ finance, supply chain, and procurement operations. The expanded partnership, 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. These new offerings will bring together AI, low-code capabilities, and deep industry knowledge and expertise.
According to ServiceNow, 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.
The joint effort combines the industry insights of KPMG professionals with ServiceNow’s recently announced AI-powered Finance and Supply Chain Workflows. 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.
“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 Bill McDermott, Chairman and CEO, ServiceNow. “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.
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 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.
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.