23 global member firms, including KPMG in Russia and CIS have invested in KPMG Capital. The fund will invest in, partner with and acquire organizations that specialize in Data & Analytics (D&A) tools and assets, as well as internal solutions. This is a unique form of investment vehicle among the Big-4 firms. Combining that expertise with the global reach of the KPMG network, 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.
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. Furthermore, a new KPMG survey of business leaders from many of the world's leading companies found that 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 – faster.”
Sean Tiernan, Partner, CIS Head of Advisory, notes: “D&A is part of our core competency, and KPMG Capital is a key part of our wider global D&A strategy. With the capabilities provided by new technology partnerships, strategic alliances and the recruitment of top talent, KPMG member firms will help clients solve critical business challenges in such areas as revenue assurance, fraud and risk management, cost optimization and cash management. KPMG in the CIS has proven D&A solutions including forensics, treasury and financial services, and we will continue to invest in these and new offerings to provide our clients with better insight from their data.”