KPMG and ServiceNow procurement partnership explained

KPMG and ServiceNow have announced a significant joint investment in procurement technology and transformations but what will it offer to both companies?

The two companies have confirmed their extended commitment to ‘reimagine’ finance, supply chain and procurement operations and expands upon what is already a relationship that has spanned a decade. 

A beneficial partnership for ServiceNow and KPMG

The partnership brings mutual benefits with KPMG using the new workflows to modernise their own processes, and ServiceNow implementing KPMG’s advisory expertise to optimise operations within its own finance organisation.

“Combining the business expertise of KPMG’s people with ServiceNow’s technologies has already helped many organisations upgrade their digital footprints and stay ahead of the rapid pace of innovation,” said Bill Thomas Global Chairman and CEO KPMG International.  “Through this expanded alliance, we will help to deliver even more value and efficiency for clients—expediting their digital transformation journeys so they can achieve their business goals.”

“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 Chief Executive Officer at ServiceNow. “Our co-developed AI-driven solutions will maximise productivity and profitability across finance, supply chain, and procurement operations.”


Explained:  What does the KPMG and ServiceNow partnership cover?

Intelligent automation

Using solutions from the partnership KPMG clients will increase procurement productivity by reducing non-value-added tasks while also significantly improving cycle times.  This will be particularly useful for complex procurement processes like professional services and IT, and will be streamlined using intelligent automation across intake, contracting, risk review, and finance.

Low-code

Low-code will be implemented using ServiceNow’s Clean Core ERP with App Engine, a development tool that uses AI and identifies legacy ERP technical debt that can be removed, replaced, or automated. 

Generative AI

KPMG firms will be embedding ServiceNow’s recently announced generative AI capabilities into their operations to improve the self-service and work experience for both employees and clients.  This will reduce time spent on time consuming, but low value procurement enquiries.

Enterpriserisk management

Through KPMG’s deep risk and procurement expertise and ServiceNow's workflows, automated security and compliance monitoring is being built directly into the portfolio of joint offerings. Using ServiceNow’s risk and compliance solutions and third-party risk management offerings will assist businesses to operate with the confidence that they are consistently meeting regulatory compliance requirements and mitigating issues.


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Other magazines that may be of interest - Supply Chain Magazine | Sustainability Magazine

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