One of the world’s largest consultancy firms, KPMG is planning to make a series of acquisitions in India apart from restructuring its organisation in the country.
KPMG India head Richard Rekhy told Business Line that the consultancy firm is scouting for acquisition in the area of tax, data analytics practice as well as IT consulting.
At a global level, the company is at an advanced stage of negotiations for acquiring a large strategy consulting firm with part of the practice based out of India. “Globally, we are looking at three countries for growth which are US, China and India,” he said.
Hosting Partners’ meet
In line with India emerging as a key driver in KPMG’s global growth strategy, the firm is also hosting its annual global partners’ meet for the first time in India next week. The global leadership team of KPMG will assemble in Bangalore to discuss the strategy going forward, industry developments and the future direction of the company.
Rekhy said during the next 12-18 months, KPMG plans to hire about 30 partners for its Indian operations. Currently, there are about 160 partners in India. It is also looking at a new service line, government and infrastructure for the India practice. “We are looking at huge growth coming in the next few years and for that we need to be structured properly,” he said.
KPMG is also rolling out new innovation practices in its Indian operations. One such innovation is around internal audit where Partners will now be able to carry out internal audit of companies in other countries sitting out of India. Remote monitoring and auditing of key processes and transactions through the offshore model is something which large organisations globally are looking at today, Rekhy said.
This may not even require any data transfer, as the offshore staff would be performing their tests on volumes of data in the home country through queries. The consultancy firm has also developed a tool called K-PROCTOR which allows continuous monitoring of data and hence any query related to it can be answered almost immediately.
Another initiative will be the KPMG application aimed at sharing the KPMG thought leadership insights and key economic and industry developments in real time with the users. Compatible with Android and other operating systems, users just need to download this app on their tablet/smartphone to get easy access to the updates and reports from KPMG.