Deloitte takes pole position from KPMG for McLaren F1 technology
16 May 2017
KPMG has terminated a planned decade-long agreement with McLaren Applied Technologies after only two years, and the F1 grand prix racing specialist supplier has now signed a partnership deal with Deloitte
16 May 2017
At the end of 2014, KPMG announced it had agreed a ten-year deal to become an innovation partner with McLaren Group, to use McLaren Applied Technologies’ predictive analytics and technology to improve its audit and advisory services.
The firm now says the formal agreement has ended and it is to ‘continue the development of these in house and will be unveiling an additional audit tool later in the year’.
Meanwhile, Deloitte has announced it will collaborate with McLaren Applied Technologies to build data-driven business products, with the aim of providing more than £1bn in annual benefits for clients by 2022, including savings, growth, productivity and quality improvements.
As part of the partnership, the two firms aim to hire around 150 new highly-skilled employees. The majority of these will be based in joint headquarters in central London, expected to open in early 2018.
The initial focus of the Deloitte-McLaren tie-up will be in the healthcare, life sciences, retail and transport sectors, with products that combine specialist hardware and software with sophisticated algorithms.
These will aim to bridge the ‘physical-to-digital’ divide by helping organisations make sense of data. This can include capturing data from physical sensors to create a sophisticated digital record; enriching it using advanced analytics, artificial intelligence (AI) and machine learning; and delivering information in automated and more effective ways.
Deloitte said initial uses for the products could include improving scheduling, traffic congestion and accident response time in complex transport networks; raising quality and compliance in manufacturing supply chains; or live outpatient monitoring and treatment in healthcare.
While the partnership will be headquartered and initially launched in the UK, the products created will be rolled out across clients and markets in Deloitte’s global network of member firms over the next two years. This will include target markets in North America, Europe and Asia.
Just two years since the KPMG deal was signed, Ian Rhodes, chief executive officer, McLaren Applied Technologies, said: ‘It makes sense for us to partner with a company like Deloitte who have a range of complementary digital and analytics skills, combined with a global network of clients and locations, to scale our co-created data driven business products.’
In a statement KPMG said: ‘Our alliance with McLaren has been very successful and achieved its objectives. Together we have developed predictive analytics tools unmatched anywhere else in the market, which allow KPMG to offer enhanced audit and advisory services to our clients.
‘Now that development of these tools has completed, we have taken the mutual decision with McLaren to end our formal alliance. We intend to continue to work with McLaren on a range of client engagements across 2017 and beyond.’