KPMG continues solid growth journey in the crisis year 2020

For the seventh consecutive year, KPMG in Denmark delivered strong double-digit growth of 22% across Audit, Advisory and Tax. The professional services firm thus reached one billion in revenue as overall revenues increased from 829m DKK in 2019 to 1,010 million DKK in 2020. KPMG experienced growth across all business areas and reached growth rates of 9% in Audit, 25% in Advisory and 27 in Tax.

KPMG started 2020 by being appointed to host KPMG’s global hub for quantum technology thereby consolidating its position as market-leading technology adviser in Denmark. Also in 2020, KPMG’s NewPractice approach significantly matured. Clients such as Nets, Alm. Brand and TDC have now moved away from the notion that automation technologies are made with the sole purpose to replace humans by robots and with support from KPMG, they are now using the full spectrum of artificial intelligence and machine learning to optimise their business processes.

"COVID-19 has accelerated the companies' digital transformation, and 2020 has certainly proved that our strategic focus on developing the best technology advisory practice in Denmark has been right. Our technology focus will drive sustainable growth for us and our clients. Therefore, it was also important for us in partnership with our national industry association, FSR – Danske Revisorer, to contribute to a study on climate reporting using artificial intelligence, where we were able to show that there is notable room for improvement for the largest Danish companies’ climate reporting," says Henrik R. Mulvad, CEO and Senior Partner, KPMG in Denmark.

At KPMG, we believe that new technologies have the potential to drive us forward and deliver radical change in society to help us overcome global challenges.

“How­ever, we need a sustainable, democratic and inclusive approach to not only technology – but also fundamen­tally to what it means to be a human being. And here cultural education plays a crucial role. Reading fiction, looking at paintings and listening to music gives you the ability to reflect, and in times like these, it is important to have a corporate culture where people at all levels have the courage to speak up. These are virtues we need when shaping the new normal into something positive and providing the right answers and solutions for both clients and future generations,” says Henrik R. Mulvad, who also believes that it is important that KPMG’s leaders are constantly developing their leadership skills.

”It is important to us not to get stuck in outdated notions of what it means to be a good leader, but constantly challenge ourselves and add to our skills as people leaders. We ensure this by developing tailor-made leadership programmes.”

To keep pace with market demand, KPMG continues to strengthen its regional presence through its offices in Aarhus, Aalborg and Kolding with the appointment of a number of new partners. The strategic decision to strengthen the presence in the regions in Denmark stands on the shoulders of a growing audit practice, and in 2020 the regional offices played a significant role in advising Danish businesses in relation to the consequences of COVID-19. A large number of small and mid-sized businesses used KPMG’s online compensation calculator where more than 40,000 calculations were immediately performed to determine the possible compensation to receive under the different relief packages. 

KPMG continues its efforts to provide everyone with equal opportunities to grow, develop and succeed and to achieve a diverse workforce, and we are therefore happy to see that 40% of the 4,400 job applications we received in FY20 were from women. We also welcomed 41 new graduates and trainees, of whom 58% were women. These numbers mark a significant improvement from previous years, and with our Balance Initiative KPMG continues to focus on improving gender equality. Overall, 38% of our employees are female and 24% of the leadership team are currently women.