KPMG
Rationalizing Complex Application Portfolios

Kpmg Poised To Capitalize On Increased Demand For Outsourcing Corporate Tax Departments

Tuesday, July 11, 2023

2023 Chief Tax Officer Outlook survey finds 83% plan to use outsourcing, co-sourcing or managed services models in the next three years

NEW YORK, -- According to the tax, audit and advisory firm's fourth annual KPMG LLP "Chief Tax Officer Outlook," Chief Tax Officers are increasingly turning to outsourcing, co-sourcing and managed services models to help them survive and thrive. Additionally, nearly half (49 percent) have begun to leverage third-party tax technology providers, and over half (52 percent) have plans to address current and future talent retention issues by adopting these models.

"The change that Chief Tax Officers must grapple with is rapid, relentless, and coming from all directions," said Greg Engel (@Greg_Engel_KPMG), Vice Chair – Tax at KPMG LLP. "It makes perfect sense for CTOs to ramp up their interest in outsourcing models given the current economic, regulatory and talent environment. In fact, it's best practice for companies to periodically reassess their need for these models to address changing dynamics in the market and equip themselves with the right resources to compete and succeed."

Outsourcing provides in-house organizations with the advantage of added resources, a reduction in costs over time, increased efficiencies, and the ability to free up talent from executing tedious compliance tasks often involved in running a corporate tax department. KPMG is well positioned to help companies harness these effective models. Recently, the firm announced the expansion of its Tax Reimagined service offering, which leverages its outsized investment in technology to help companies enhance their tax department operating models, with the addition of numerous senior talent.

As part of KPMG's US$5 billion investment in technology, people and innovation to accelerate digital transformation, and more than US$1 billion in tax and legal technology, KPMG is continuously enhancing its global cloud-based platform Digital Gateway, which helps provide these quality service models and differentiated technologies to its vast network of clients.

"Deploying the right technology in a corporate tax department is make-or-break in an ultra-competitive market," said Rema Serafi (@RemaSerafi), National Managing Partner – Tax at KPMG LLP. "This is why working with a service provider that has state-of-the-art tax technology can bring tremendous value to an organization, equipping them with resources they likely would not invest in themselves and allowing them to focus on adding more strategic value to the overall business."

Other salient findings from the report:

• The top three threats to tax organizations' growth over the next three years are ESG, regulatory and geopolitical risk, with ESG ranking first (38 percent).

• Sixty five percent say worldwide tax enforcement activity, audit and controversy are likely to increase significantly in the near future.

• Seventy four percent say the OECD's BEPS initiatives are significantly affecting operating and tax planning.

• Approximately half (49 percent) say they are "fully tax transparent" today, sharing beyond what is required for compliance.

• Less than half (47 percent) say their tax department is currently engaged with the business in exploring ESG related risks and opportunities.

Survey methodology: The KPMG report is conducted together with Forbes and features insights from 300 Chief Tax Officers leading their organizations' tax function at large public and private U.S. companies with revenue of $2 billion or more.

KPMG launches global ESG Academy, in collaboration with Microsoft

Thursday, September 28, 2023

KPMG has launched the KPMG ESG Academy in collaboration with Microsoft and some of the world’s leading universities and institutions. The scalable, turnkey academy leverages the KPMG Learning Enablement and Analytics Platform – a preconfigured platform enabled by Microsoft 365, Azure, Teams and Microsoft Viva Learning that helps to deliver learning directly in the flow of work. It can be offered as a standalone virtual learning tool or can be integrated into clients’ in-house learning platforms, helping organizations support their ESG initiatives by delivering foundational and advanced learning on a wide range of ESG topics and disciplines.

The Academy course material is structured around the latest business thought leadership in environmental, social and governance (ESG) topics, with content developed by globally recognized ESG specialists from leading universities and institutions, in collaboration with KPMG subject matter professionals in sustainability.

The course content is fully customizable and scalable. Executive-level leadership, mid-management and/or non-management learners can be engaged in the business client’s choice of basic-level ESG training, comprehensive ESG training, and/or advanced ESG-focused training in specific topics of interest, such as circularity, reporting and risk. With a powerful combination of business and academic learning, the KPMG ESG Academy delivers both foundational and advanced learning on a range of ESG topics, with the option to focus on specific business sectors and functions.

The KPMG ESG Academy builds on the expanded global alliance between KPMG and Microsoft and investment to accelerate global digital solutions for ESG issues.

Worksoft Partners with KPMG in India to Enable Digital Transformation Strategies

Monday, June 24, 2024

Mumbai, – Worksoft, a global leader in intelligent test automation for enterprise applications, announced a strategic partnership with KPMG in India, one of India’s leading professional services firms. This partnership is set to redefine the approach to digital transformation, by providing businesses with the tools and expertise that will help them to navigate the complexities of modernizing their operations.

Through this collaboration, Worksoft contributes its sophisticated automation technology, aimed at improving the efficiency and precision of business process testing, particularly in the complex environments of SAP, Oracle and beyond. Partnering with Worksoft, KPMG in India will apply its extensive industry insights and consulting expertise to deliver a holistic digital transformation strategy for clients, thereby encompassing the entire journey from initial planning through to implementation and ongoing streamlining.

Mark Bolland, Director of SIS, Partners and Alliances at Worksoft, expressed his enthusiasm about the partnership, stating, "Partnering with KPMG in India strengthens our position in the region and reinforces our global strategy. This strategic partnership underlines our commitment to delivering superior automation solutions worldwide. We're excited to collaborate with such a respected professional services firm , and are confident that together, we'll enable organisations to accelerate their digital transformation with greater confidence. This effort reflects our dedication to innovation and excellence in test automation."

Sharing his views on the alliance, Prerit Binjrajka, Partner, TE - Digital Engineering and Quality, KPMG in India, said “We are excited about this strategic partnership with Worksoft, a leading provider of test automation solutions. The partnership marks a significant milestone in our commitment to delivering exceptional value and innovation to our clients. At KPMG in India, we recognize the importance of leveraging leading technologies to drive digital transformation and accelerate business outcomes. By combining Worksoft's expertise in test automation with our industry knowledge and client-centric approach, we are poised to deliver immense value and innovation to organisations across various sectors.”

The collaboration between Worksoft and KPMG in India is designed to address the pressing needs of businesses undergoing digital transformation, offering them a strategic edge in automating and optimizing their business processes. By leveraging Worksoft's automation solutions and KPMG in India's strategic insights, clients can look forward to achieving streamlined operations, improved quality, and faster time-to-market for their digital initiatives.