NEW YORK, N.Y. and SANTA CLARA, Calif. — July 26, 2023 — KPMG and ServiceNow (NYSE: NOW), today announced an expanded commitment to reimagine finance, supply chain, and procurement operations. The expanded partnership is part of a decade-long relationship that spans IT, HR, risk, cybersecurity, and environmental, social and governance (ESG), includes investment from both organizations to create new offerings that bring together AI, low-code capabilities, and deep industry knowledge and expertise.
ServiceNow estimates there is a $11B total addressable market by 2025 for sourcing and procurement operations as well as a multibillion-dollar opportunity for finance and supply chain solutions that bring together people, processes, data, and technology on one, simplified platform. While early engagement is critical for procurement to be able to influence spending and enable better decision making, many internal customers are frustrated by the lack of transparency and fragmentation across the procurement and approval processes.
The joint effort combines the breadth of experience and market‑leading industry insights of KPMG professionals with ServiceNow’s recently announced AI-powered Finance and Supply Chain Workflows that complements customers' existing procurement and supply chain systems, streamlines processes, and improves the employee experience while helping reduce costs and increasing efficiency.
KPMG firms will use the new workflows to modernize their own processes and enhance the employee experience. Further, ServiceNow will leverage KPMG’s advisory expertise to optimize operations within its own finance organization.