KPMG launches new business ‘KPMG Products’

Big Four firm KPMG has founded a new business offering, building a portfolio of digital solutions. The KPMG Products team will see the firm expand its engineering and data science team grow by several-hundred staff.

Speaking on the investment, Jon Holt, Chief Executive of KPMG UK, commented, “Businesses are making wholesale changes to both their operations and their strategy as they seek to shore up their resilience against a challenging economic and geopolitical backdrop. Our technologists will help them to interrogate and understand the data flowing out of their businesses and make informed decisions to drive future growth.”

In the KPMG 2021 UK CEO Outlook survey, 34% of UK CEOs ranked digital transformation as their top operational priority over the next three years. To support firms in their quest for digitalisation, KPMG’s new specialist team will build products designed to help clients streamline their processes, and better understand and analyse their data as they relook at their operations against a challenging operating landscape and invest in digital transformation.

KPMG Products will see the firm’s technologists double from a 3,000-strong team of engineers and data scientists. By the end of 2025, a release from the firm said it would expand that “by 3,500 over the next three years”, including a group of ‘Product Specialists’ to help boost productivity further.

Lisa Heneghan, Global Chief Digital Officer at KPMG UK, stated, “The consulting industry is evolving, and this considerable investment signals a significant change in how we operate and serve the organisations we work with. To realise this change, we have already started to significantly grow our pool of digital talent to develop these revolutionary technologies. Founded on our consulting heritage, these products are being designed using the firm’s unique expertise to support our clients in the most innovative ways where they need it most.”

The launch of KPMG Products precedes a number of products which will be rolled out to KPMG clients in the coming months. The first in the suite to go to market include: Dash, a pre-configured analytics platform that provides instant, sector-specific insights focused on solving retailers’ most challenging problems; ESG IQ, a big data analytics solution that helps banks, insurers and asset managers to gain a deeper understanding of the Environmental, Social and Governance (ESG) performance; and Strategic Workforce Planning Solution, enabling NHS trusts to model their workforce capacity.

The creation of KPMG Products is part of the firm’s broader £300 million investment plan, which will see KPMG invest in new insights and develop new solutions for its clients. Globally, KPMG has also committed $5 billion into technology solutions globally over the next five years, as it looks to continually improve its current products and produce new solutions for clients.