KPMG and Microsoft Collaborate to Help C-Suites Predict Tax Outcomes and Set Business Strategy With New Cloud Technologies
The future of tax is at a tipping point as organizations work to keep pace with a rapidly changing business landscape, shifts in tax policy, heightened compliance and reporting requirements, workforce challenges, and the untapped potential of data. As part of their multi-billion-dollar global alliance, KPMG1 and Microsoft are making significant investments to deliver advanced cloud-based tax technologies that are designed to help companies transform and lead amid continued market disruption.
KPMG and Microsoft are helping companies enable their operations to be future-ready through AI, machine learning, automation, and data & analytics applications on the KPMG proprietary Digital Gateway platform, enabled by the Microsoft Azure cloud. The collaboration is resulting in a wealth of new technology capabilities for tax and finance leaders in more than 140 jurisdictions globally through the KPMG Tax Reimagined service offering.
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KPMG Digital Gateway is built with the C-suite in mind. It puts easy-to-use technology in the hands of non-technologists, so that business leaders can leverage insights to help predict what’s ahead. Digital Gateway offers a holistic view of a company’s total tax and finance data, in real time, and within a single platform. Business leaders use Digital Gateway’s data-driven applications, powerful modeling tools and interactive visualizations to help inform strategy, forecast outcomes, plan tax requirements, minimize risk, generate cost savings, and, ultimately, drive tangible business results.
KPMG and Microsoft have augmented the Digital Gateway platform with three new applications – Tax Advance, Data Factory and Connected Modeling. The latter two process, synthesize and visualize data from an organization’s ERP system, while Tax Advance is a cloud-based collaboration tool that uses Microsoft technology to connect and optimize an organization’s existing document management, process and workflow approaches within the tax and finance functions.
More about KPMG Digital Gateway enabled by Microsoft
- Provides a single point of entry for a company’s entire suite of tax data
- Translates unstructured data into actionable insights
- Allows non-technology professionals to easily use the tool
- Leverages AI and machine learning to reduce data redundancies across applications
- Syncs with a suite of third-party tools
- Equips C-suite with a Control Tower home screen, which features a suite of applications that process data, generate powerful visualizations and more
As part of KPMG’s US$5 billion investment in technology, people and innovation to accelerate digital transformation, and more than US$1billion in tax and legal technology, specifically, KPMG is utilizing Microsoft Azure and Azure AI as the backbone for a common, global cloud-based platform that helps to strengthen its range of digital offerings with new innovations in cloud-based audit capabilities, tax solutions and risk management.
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