McLaren Applied Technologies has announced a new partnership with Deloitte, putting an end to its work with KPMG, seven years before the due date.
In 2014, KPMG and McLaren’s technological arm had formed a strategic alliance to integrate the technology provider's predictive analytics into the Big Four firm’s audit and advisory services. The strategic alliance was supposed to run for 10 years, but only three years later, McLaren Applied Technologies announced it has jumped ship to competitor Deloitte.
A KPMG spokesperson 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. KPMG will now continue the development of these in house and will be unveiling an additional audit tool later in the year. 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.”
However, with McLaren and Deloitte now working together, questions can be raised as to how long the KPMG tools will remain “unmatched anywhere else in the market”. Indeed in a statement, McLaren Applied Technologies said its partnership with Deloitte will focus on developing data-driven business products.
“These will draw on McLaren’s engineering, sensor, simulation and analytics experience first developed and proven in the ultra-competitive world of motorsport, coupled with Deloitte’s digital and analytics experience delivering large consulting projects globally,” the statement read.
As part of the partnership, McLaren and Deloitte aim at hiring 150 staff and for their London-based joint headquarters which is planned to open in 2018.
Deloitte vice chairman and senior consulting partner Mike Dobby said the partnership will open a number of opportunities in particular for the firm’s consulting business.