KPMG has launched a business membership network which it hopes will give the firm the ecosystem expertise necessary to help its clients navigate the IoT technology and solution landscape, and to encourage growth in the Australian IoT marketplace.
Dubbed the 'IoT Innovation Network', it is being billed as an "ecosystem of emerging and established technology and service organisations driving the development of IoT solutions in Australia”.
The company envisages that the establishment of this network will help expose its clients to the variety of innovative solutions available to them, as well as aid in business model development, vendor selection strategies, and technology enablement.
KPMG is inviting companies both locally and abroad that provide IoT products and services to apply for inclusion.
According to the company, membership applications will be assessed on their merits through independent vendor selection processes.
In return, KPMG is offering members the following benefits:
- Invitations to bid for tenders alongside KPMG as part of a consortium
- Referrals to KPMG clients as a potential technology or solution provider
- Invitations to showcase their technologies in KPMG’s Insight Centres and Innovation Labs
If you build it, they will come
KPMG’s national practice leader of its Internet of Things division Piers Hogarth-Scott told IoT Hub that the creation of this network goes back to the company’s long held belief that no single vendor can deliver an end-to-end IoT solution.
“By definition, IoT requires multiple parties, multiple technology vendors, and solution providers to come together to deliver holistic solutions, whether it be in the smart cities space, the smart agriculture space, and so on,” he said.
“Our view is that in order to tap into the multi-billion dollar opportunity for the Australian market and to unlock that economic benefit, it really requires a rich ecosystem of IoT innovators and technology vendors.”
KPMG is regularly employed by businesses to provide strategic direction, and this service is particularly important in the fast-growing, ever-changing world of IoT, according to Hogarth-Scott.
“Part of the work we do as an independent, trusted advisor to many of our clients is help them navigate the IoT ecosystem,” he added.
He said that for city councils that proclaim their desire to become ‘smart’, for example, they are inevitably inundated with technology vendors “banging on their doors showing shiny pieces of technology”.
This becomes challenging for those councils to navigate through those proposals, especially if there is a relative lack of in-house expertise.
“Having the ability to tap into KPMG’s IoT Innovation Network could really help clients to navigate the IoT landscape,” Hogarth-Scott explained.
“It also enables clients to come to us and ask ‘We want a smart parking solution. Who are the providers that you recommend we go and talk to?’
“We want to be able to use the network to help inform our clients to make better decisions.”
Hogarth-Scott emphasised that the creation of the innovation network would not only benefit KPMG’s ability to serve its customers, but also encourage the growth of the IoT ecosystem in Australia itself.
“We also want the local IoT ecosystem players to have access to a greater number of opportunities in the market than they might not otherwise have had on their own accord.”