Business Wire

KPMG’s "Digital Gateway for Tax" Platform Raises Global Standards in Tax Functionality with Generative AI

Share

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

To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.

Contact information

Daniel Caines
Senior Manager, Global External Communications
Daniel.caines@kpmg.co.uk
+447732400262

About Business Wire

For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.

Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

Indri Becomes the Fastest Growing Single Malt Brand in the World: Sells Over One Hundred Thousand Cases in Its Second Year12.4.2024 17:09:00 EEST | Press release

Indri, India’s 1st and most awarded triple cask single malt, by Piccadily Distilleries, has further solidified India’s growth story with Indri-Trini becoming the ‘fastest growing single malt in the world ever’. No other single malt brand from Scotland, Japan, Taiwan or anywhere else in the world has ever been able to cross the hundred thousand (100 K) cases mark within two years of its launch. With this feat, Indri-Trini has shattered all expectations and broken into the elite club of top selling single malts in the world. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240412989230/en/ Indri becomes the fastest growing single malt whisky in the world. (Photo: Business Wire) With an unprecedented growth rate of 599% compared to last year, Indri is not just breaking records; it's reinventing the game. Indri has trailblazed its way to capture 30% market share in India. Piccadily Distilleries, with its ambitious expansion plans,

Spiber Inc. Raises Over JPY 10 Billion in Funding to Strengthen Mass Production and Sales Initiatives12.4.2024 10:00:00 EEST | Press release

Spiber Inc. (Director and Representative Executive Officer: Kazuhide Sekiyama; hereinafter “Spiber”), a biomanufacturing startup, is pleased to announce the successful completion of a round of fundraising totaling over JPY 10 billion. This funding, which includes additional investments from existing shareholders, will allow the company to accelerate mass production of its innovative Brewed Protein™ materials and facilitate global sales, further contributing to the advancement of a circular economy. Spiber’s proprietary Brewed Protein™ material is a new category of material¹ developed and refined through more than 15 years of research. By harnessing the diverse, cyclical nature of proteins, one of the key building blocks of Earth’s ecosystem, the company aims to realize a circular economy that can exist in harmony with nature. Using cutting-edge biotechnology, Spiber’s proteins are meticulously designed at the DNA level and manufactured through a proprietary microbial fermentation proce

Jefferies Financial Group Inc. Announces Pricing of €750,000,000 3.875% Fixed Rate Senior Unsecured Notes Due 2026 and €500,000,000 4.000% Fixed Rate Senior Unsecured Notes Due 202912.4.2024 00:28:00 EEST | Press release

On April 9, 2024, Jefferies Financial Group Inc. (NYSE: JEF) (“JFG”, “we” or “our”) priced €750,000,000 aggregate principal amount of 3.875% Fixed Rate Senior Unsecured Notes Due 2026 (the “2026 Notes”) and €500,000,000 aggregate principal amount of 4.000% Fixed Rate Senior Unsecured Notes Due 2029 (the “2029 Notes” and, together with the 2026 Notes, the “Notes”), each under its Euro Medium Term Note Program. The 2026 Notes will mature on April 16, 2026 and the 2029 Notes will mature on April 16, 2029. The offering of the Notes is expected to settle on April 16, 2024, subject to the satisfaction of customary closing conditions. JFG intends to use the net proceeds from the offering of the Notes for general corporate purposes. The Notes have not been and will not be registered under the Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. This press release does not and will

Nike Kicks Off Multi-Year Innovation Cycle11.4.2024 21:31:00 EEST | Press release

Today, NIKE, Inc. (NYSE: NKE) extended its position as the undisputed leader of footwear and apparel innovation by debuting a new line-up of products that signaled a multi-year innovation cycle. Brought to life by the full power of digital capabilities and cutting-edge technology, the company is delivering better, faster, more efficient solutions for athletes this summer and opening a world of creative possibilities — including Nike's first sculpted, visible Air Zoom unit in the new Pegasus Premium running shoe. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240411422311/en/ Harnessing its proprietary Air technology, Nike debuts the Nike Pegasus Premium – taking the cushioning that runners love from the iconic Pegasus franchise and adding Nike’s first sculpted, visible Air Zoom unit. The new, sculpted Air Zoom unit is the brand’s biggest Air innovation since the launch of the Nike Air VaporMax. (Photo: Business Wire) The pro

Contentful Appoints Karthik Rau As CEO11.4.2024 19:00:00 EEST | Press release

Contentful announced today that its Board of Directors has appointed Karthik Rau as the new Chief Executive Officer, succeeding Steve Sloan, who has served as CEO since 2019. Karthik brings more than 20 years of leadership experience to Contentful as a company founder and seasoned operating executive. Most recently, Karthik served as founder and CEO of SignalFx, a cloud monitoring company focused on DevOps teams that was acquired by Splunk for $1.05 billion. Previously, Karthik held several leadership roles in the industry, including Vice President of Product Management and Worldwide Marketing at VMware during its early growth years. Karthik was one of the principal executives who led the VMware IPO, the largest technology IPO of 2007. “Content has become one of the key pillars of every organization’s digital strategy,” said Rau. “The emergence of generative AI will drive exponential growth in content and accelerate the shift from legacy content management systems to Contentful’s marke

In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.

Visit our pressroom
HiddenA line styled icon from Orion Icon Library.Eye