KPMG, one of the "big four" networks for professional services, has introduced its new KPMG Digital Finance platform.

financial teams will have access to a cutting-edge financial platform with this service, which is powered by Aptitude Software, Microsoft Azure, and Dynamics.

It offers access to a variety of financial and data analytics capabilities as a service through a pre-configured, managed finance solution with AI capabilities.

KPMG: Providing contemporary finance with solutions

financial teams can access a contemporary technology stack with KPMG Digital Finance's fully integrated solution, which frees up professionals to focus more of their time on value-added work rather than tedious back-office financial duties.

KPMG Digital Finance combines machine learning and generative AI capabilities into a cloud-native design that is both scalable and flexible, providing finance teams with an easily managed solution.

According to KPMG, a subscription will be offered for its new platform, which will include access to a financial accounting sub-ledger, control reports, and analytic dashboards in addition to the underlying application licences.

KPMG Digital Finance's primary features are built on Aptitude and a carefully chosen, preconfigured collection of Microsoft Dynamics 365, Power BI, and Azure capabilities that are delivered via a KPMG Modern Data Platform. These features include:

• Microsoft Dynamics 365 F&O is an enterprise resource planning (ERP) system that gives businesses the ability to manage their finances, supply chains, and customer relationships.

• KPMG preset financial and data quality dashboards and reports are included in Microsoft Power BI, a cutting-edge data visualisation tool.

• Azure Databricks is a unified analytics platform for data science and engineering that comes with predefined KPMG data transformation, quality, and monitoring features. It also offers a collaborative workspace for carrying out data engineering, machine learning, and analytics jobs.

• Azure Cosmos Database is a highly scalable database solution designed to enhance the performance of applications that are dispersed globally.

• Workflows that transport data between different data stores may be created, scheduled, and managed with Azure Data FactoryTM, a hybrid data integration service.

• Azure Virtual Desktop is a cloud-based desktop and app virtualization solution that lets users safely access their desktops and apps on any device, from any location.

In fact, KMPG makes use of Microsoft365 technology shortly after the company's newest business feature, Copilot for Finance, was introduced. It is evident that KPMG has a partner in Microsoft that is committed to innovation alongside it.

According to David Fourie, a partner at KPMG, "Organizations are increasingly looking to move to a managed service model for finance provided by trusted, proven partners as the speed of technology, business, and regulatory change continues to increase."

Finance teams will have a safe, scalable, affordable solution that utilizes best practices when they switch to a FaaS model. Additionally, finance will move from menial, repetitive duties to forward-facing analytics and well-informed decision-making.

The release of KPMG's in-house fintech solution coincides with a resurgence in fintech investment following a decline in venture capital funding for FY2023, as noted in KPMG's Pulse of Fintech Report 2023.

More investment is coming as venture capital firms witness the needs of more companies looking to integrate artificial intelligence (AI) into every aspect of their operations, with banking being a prime example.

KPMG now aims to provide that to numerous clients seeking a finance solution that is easier to use, more secure, and efficient.