Investment fund will support partnerships and acquisitions, to help KPMG
firms' clients unlock tangible value of their data
Recent KPMG survey shows 96 percent of businesses not managing data
NEW YORK, Nov. 11, 2013 /CNW/ - KPMG International today announced the
formation of KPMG Capital, a new investment fund created to accelerate innovation in data and
analytics (D&A) that will help clients of member firms unlock tangible
value of their 'big data'.
KPMG Capital will support technology partnerships, strategic alliances and the
recruitment of top talent to create new D&A solutions. With these
capabilities, KPMG member firms will help clients solve critical
business challenges in such areas as new revenue streams, risk
management and cost optimization
The use of D&A has become a critical business priority as companies try
to derive value from the vast amounts of data now available to them. A
new KPMG survey of business leaders from many of the world's leading
companies found that while 69 percent see D&A as strategically
important to their current growth plans, an overwhelming 96 percent
believe their company is not currently using D&A effectively.
"Our new research shows that business leaders recognize the tremendous
importance of D&A to business growth but feel they need more support to
develop effective solutions," said Mark Toon, CEO of KPMG Capital and
global lead for KPMG's D&A practice. "KPMG Capital will enable us to develop or acquire opportunities in D&A quickly.
Through partnerships with technology and service providers, strategic
partners and other third parties, we aim to accelerate innovation in
D&A to bring potential solutions to clients - and to the market -
Mr. Toon continued: "With more data produced and stored in the last two
years than in the rest of human history, many businesses are looking
for strategic and practical solutions to manage the volume, velocity
and variety of this data revolution. KPMG Capital will lead the way in addressing the challenge of the three 'v's."
Addressing business challenges: innovating through partnerships
KPMG Capital's Toon believes the most successful companies will be those not merely
collecting the data, but those that can distill data and translate it
to insightful business guidance.
"Too many companies still see big data principally as a technology
issue, when it really is a business issue across all industries," he
said. "We're helping companies look at their data differently and turn
it into value."
Investment will be made in a number of critical business areas including
enhancing business flexibility; finance; regulation and compliance;
improving workforce productivity; and customer and revenue growth. KPMG Capital will work to develop solutions that will focus on growth sectors such
as healthcare, financial services, energy and telecommunications.
KPMG Capital's aim is to invest in, partner with and acquire organizations that
specialize in data and analytics tools and assets. Combining that
expertise with the KPMG network's global reach, existing D&A
capabilities and deep insights, KPMG Capital will work to unlock new thinking to address the most pressing business
challenges and deliver new solutions to market more quickly.
"KPMG Capital will enable a nexus for the world's best thinking in data and
analytics," said Michael Andrew, Chairman of KPMG International. "D&A
is part of our heritage, but with the fast pace of technology and
globalization, clients want deeper insight more quickly. KPMG Capital's structure will allow us the flexibility to commercialize solutions
which our global network of professionals can use to help business
leaders harness the right data, analyze it and translate it into value.
This is a transformative step for the future of KPMG's member firms as
well as for clients' businesses."
About the survey
The KPMG survey was conducted in August 2013 by FT Remark on behalf of
KPMG International. FT Remark interviewed 144 CFOs and CIOs from
multinational companies with annual revenues of US$1 billion or more. A
full report will be available in late November 2013.
About KPMG Capital
KPMG Capital is an investment fund which is not open to third party
investment, and which will not itself provide professional services to
clients. It is legally distinct and separate from KPMG International
Cooperative and each other KPMG member firm.
About KPMG International
KPMG is a global network of professional firms providing Audit, Tax and
Advisory services. We operate in 156 countries and have 152,000 people
working in member firms around the world. The independent member firms
of the KPMG network are affiliated with KPMG International Cooperative
("KPMG International"), a Swiss entity. Each KPMG firm is a legally
distinct and separate entity and describes itself as such.
SOURCE: KPMG International
For further information:
+1 416 451 8185
+44 7919 393753
ZENO Group for KPMG Capital
+1 312 396-9797 (office)
+1 312 802-0211 (cell)