Quick Overview
KPMG leverages generative AI and machine learning to automate financial reporting, generate insights, and identify discrepancies across ledger systems, reducing errors and accelerating reporting cycles.
KPMG
Company Size
~300,000 employees (global)
Revenue Range
$40B+ annual revenue
Primary Challenge
Manual financial reporting prone to errors and slow processes
Key Metrics
\- Reduced reporting errors\- Accelerated reporting cycles\- Improved data reconciliation accuracy
The Problem
Manual reconciliation and reporting were time-consuming and error-prone, limiting efficiency and accuracy.
The Solution
Implemented generative AI to automate report generation, discrepancy detection, and data reconciliation.
Results
\- Fewer errors in financial reports\- Faster reporting turnaround\- Enhanced accuracy and compliance\- Reduced manual effort and operational costs
“Generative AI has transformed our financial reporting processes, making them faster and more reliable.”
Details
Industry
Professional Services & Consulting
Departments
Finance & Accounting
Use Cases
Financial Reporting
Tags
Time-Saving
AI Tools Used
No items found.
Sources
https://www.financialexecutives.org/Research/Publications/2024/AI-In-Finance-and-Accounting.aspxhttps://digitaldefynd.com/IQ/ai-in-finance-case-studies/
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