KPMG Luxembourg has announced that innovation has helped the company grow its revenues by 16% in 2016; technology has remained a significant lever of growth, coupled with an increasingly empowered workforce given greater space to explore and develop new ideas.
Looking back over the past four years, former Managing Partner Georges Bock explained “Ideas are now a valued currency at KPMG. In today’s competitive environment, it takes more than educated, qualified people to make a company like ours successful – it takes people with boundless curiosity that can take a seed and make it grow. At KPMG, we’ve focused on encouraging our staff members to leave their comfort zone, and focus on how we can help our clients, and the wider Luxembourg community, grow in new directions.”
One such example is the firm’s involvement in FundsDLT, a blockchain-based fund distribution infrastructure, together with Bourse de Luxembourg, FundSquare and InTech (the Post Group).
Head of Advisory, Pascal Denis, explained “The recent launch of FundsDLT is a great example of KPMG walking the talk on innovation. It’s less of a platform, and more of an ecosystem, and we expect to see many investment management players to adopt the distributed ledger technology in the near future. Collaborations such as this are increasingly important to us as a firm. From co-launching the first FinTech awards through to our recently announced involvement in the LHOFT initiative and continued commitment to our Fintech ecosystem, The KHUBE, we have consistently broken out of our comfort zone, so as to play an increasingly important role in the development of the country, and our clients’ businesses.”
Emmanuel Dollé, Head of Audit, explained how technology is helping the firm better address clients’ challenges. “Clients have an increasingly large volume of data to crunch, be it for reporting or other purposes. In light of this, improving data quality and the effectiveness of data mining has become a major concern for the companies with whom we work — and in turn for us when it came to checking client accounts, or helping with reporting. This last year, we have ramped up our efforts to develop Data and Analytics technology to overcome this challenge. Clever codes and algorithms allow us sift through and mine vast amounts of data in a quick and efficient way. The way that we provide tax, audit and advisory reporting services is becoming ever more sophisticated, and we’re constantly pushing ourselves to hone this technology, for both ourselves and our clients.”
New Managing Partner, Philippe Meyer, was keen to discuss his vision of KPMG’s role in Luxembourg as the company heads into the future “I’m very much interested in expanding the role that companies like KPMG play in our country’s economy, by developing the public’s understanding of our work and our efforts to enhance quality. We are driven by a passion and commitment for quality and an exceptional client experience. Innovation and technology implemented by exceptional people are key elements to chart our way forward. And as we move ahead, we will look to better embed our innovative, quality-led approach further afield in Luxembourg.”
