KPMG’s "Digital Gateway for Tax" Platform Raises Global Standards in Tax Functionality with Generative AI
18.3.2024 20:38:00 EET | Business Wire | Press release
In a landmark move, KPMG has enhanced the capabilities of its Digital Gateway for Tax incorporating generative AI (genAI) as an independent component to communicate directly with data, enabling powerful insights and enhanced levels of efficiency. This pioneering Software as a Service (SaaS) is designed to provide an end-to-end solution for all members of the tax department and marks a significant milestone in tax technology, integrating generative AI for organizations embarking on their tax digital transformation journey.
The KPMG Digital Gateway for Tax platform’s real strength lies in its content and transparent data enrichment capabilities. The solution empowers clients to use the Digital Gateway as their Centralized Knowledge Hub, where users can access company-specific documents through the unified genAI platform. The RAG approach (Retrieval Augmented Generation) is relied upon to effortlessly enrich models with additional content which helps ensure the information used to generate answers is both current and accurate. The propriety KPMG solution provides an enhanced explainability feature that details how the AI generates responses, providing more transparency of the step-by-step actions undertaken by AI in the background, detailing the rationale behind the work delivered, integrating citations for increased trust in the process reflecting a paradigm shift in focus towards enhanced efficiency and transparency within innovation, solidifying KPMG's position as a market leader in the industry.
“Digital Gateway for Tax is a tried and tested trusted platform where the AI component is now fully integrated and not an independent stand-alone function,” said Brad Brown, Global Head of Tax Technology, KPMG International. “Whereas many systems use the RAG approach we have moved beyond this revealing the thought process and step by step flow of what AI is undertaking in the background providing users with complete transparency and ultimately trust in the process.”
The KPMG Digital Gateway Tax platform is equipped with an array of advanced functionalities and features designed to meet the complex needs of modern tax departments including:
- Personal document upload capability: Empowers users with the flexibility to upload documents instantly for generative AI analysis, streamlining the tax documentation process.
- Ai-generated export: Allows for the seamless export of AI-generated data directly to emails and PowerPoint slides, with an exclusive feature for premium users to employ branded templates.
- Innovative virtual assistants: Offers both pre-configured and customizable virtual assistants for a range of tasks, from regulation exploration to personalized learning aids, showcasing the platform's adaptability to various tax functions.
- Customizable solutions for teams: Collaborate with KPMG to develop bespoke virtual assistants tailored to the unique requirements of your tax department, ensuring a tailored experience for every user.
- Training and onboarding: KPMG's specialized training programs helps users maximize the platform's potential, fostering proficiency in leveraging AI for tax-related tasks.
The KPMG Digital Gateway for Tax is utilized both by KPMG professionals and clients, facilitating a continuous cycle of improvement and innovation. This collaborative approach allows users to benefit from KPMG's substantial investments in AI technology, accessing a platform that remains at the cutting edge of tax technology solutions.
The KPMG proprietary tax technology provides clients with access to the full suite of KPMG tax and legal technologies via an integrated platform within a secure Microsoft environment, designed so no client data is compromised or leaves the secure parameters.
"KPMG Digital Gateway for Tax is not just a tool, but an evolution in tax technology. Our generative AI component is now fully integrated, offering a level of transparency and trust that I believe is industry leading! We are not just using AI, we are revealing its thought process, providing users with a better understanding of how it works. This is a significant step forward in tax digital transformation, and we are proud to be leading the way," said David Rowlands, Global Head of AI, KPMG International.
Demo Access
Journalists interested in experiencing a Digital Gateway for Tax demonstration can request an invite to a demonstration and access details will be shared.
Disclaimer: The services and products mentioned comply with the regulatory and compliance standards of their respective countries.
Notes to Editors
About KPMG
KPMG is a global organization of independent professional services firms providing Audit, Tax and Advisory services. KPMG is the brand under which the member firms of KPMG International Limited (“KPMG International”) operate and provide professional services. “KPMG” is used to refer to individual member firms within the KPMG organization or to one or more member firms collectively.
KPMG firms operate in 143 countries and territories with more than 273,000 partners and employees working in member firms around the world. Each KPMG firm is a legally distinct and separate entity and describes itself as such. Each KPMG member firm is responsible for its own obligations and liabilities.
KPMG International Limited is a private English company limited by guarantee. KPMG International Limited and its related entities do not provide services to clients.
For more detail about our structure, please visit kpmg.com/governance
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Contact information
Daniel Caines
Senior Manager, Global External Communications
Daniel.caines@kpmg.co.uk
+447732400262
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