KPMG International has set up KPMG Capital, an investment fund that aims to accelerate innovation in data and analytics to help clients of KPMG’s member firms unlock the value of their data.
KPMG Capital will support technology partnerships and acquisitions, according to the firm, along with strategic alliances and the recruitment of talent to create new data and analytics systems. With these capabilities, KPMG member firms will be able help clients solve business challenges in such areas as new revenue streams, risk management and cost optimization
The use of data analytics has become a big priority for companies as they try to uncover 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 data and analytics, or 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 KPMG Capital CEO Mark Toon, who is the 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—faster. 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."
KPMG Capital plans to invest in business areas such as enhancing business flexibility; finance; regulation and compliance; improving workforce productivity; and customer and revenue growth. The fund will work to develop technology focused on the health care, financial services, energy and telecommunications sectors. KPMG Capital's aim is to invest in, partner with and acquire organizations that specialize in data and analytics tools and assets.
“KPMG Capital will enable a nexus for the world's best thinking in data and analytics,” said KPMG International chairman Michael Andrew in a statement. “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.”