London: KPMG and the McLaren Group have announced a strategic alliance which will apply McLaren Applied Technologies' ('MAT') predictive analytics and technology to KPMG's audit and advisory services.
Under the terms of the 10 year agreement, KPMG becomes the 'Pioneer' Innovation Partner of the McLaren Group, bringing together McLaren's "highly tuned" expertise in predictive analytics and KPMG's extensive audit and consulting capability.
Together MAT and KPMG will develop a range of advisory services. Companies will be able to draw upon a combination of KPMG's longstanding consulting pedigree and business insight, paired with McLaren's high performance culture and technical know-how.
Simon Collins, UK Chairman of KPMG, commented: "Our alliance with McLaren gives us the opportunity to accelerate the transformation of our audit and advisory businesses. McLaren has honed sophisticated predictive analytics and technologies that can be applied to many business issues. We believe this specialist knowledge has the power to radically transform audit, improving quality and providing greater insight to management teams, audit committees and investors. The same is true of our advisory services, where we believe applying McLaren's predictive analytics and know-how to, for example, a complex international supply chain, could help our clients make a step change in the service they provide to their customers.
"Initially, we will work with McLaren on a select number of clients and then seek to apply these learnings (sic) more broadly across our client base. Today's deal marks a substantial investment by our business in audit quality and extending our advisory offering."
Ron Dennis CBE, Chief Executive and Chairman of the McLaren Group said: "We chose to establish this ground breaking alliance to take our expertise into a whole new market and to continue the rapid growth of McLaren Applied Technologies. As well as being one of the largest audit and advisory companies in the world, KPMG has a deserved reputation for innovation. I am very excited to be working together and by the opportunity to deliver tangible benefits to both KPMG and its clients.
"McLaren has developed world class expertise in predictive analytics, high performance design and technology development. This expertise, combined with our ethos of constant innovation, attention to detail and determination to win, enables us to complement KPMG's already extensive capabilities.
"However, this alliance is about more than just commercial opportunities. Both KPMG and McLaren have shared values of integrity and corporate responsibility. Although we come from diverse industries, we have a lot in common and I firmly believe that we can achieve great things together."
The alliance builds on KPMG's strategy of investing in data and analytics and technological expertise by developing its own digital platforms and forming strategic alliances with key partners, such as, most recently, Imperial College London. Similarly, McLaren is investing in this alliance to extend the application of its analytics, technology and design expertise to other industries.
MAT's expertise has already been applied in industries beyond motor sport. For example, MAT has improved pharmaceutical R&D and manufacturing processes, created air traffic scheduling systems and worked with some of the biggest oil and gas companies to optimise production processes.