PQ magazine is for part qualified accountants.
Read the latest web issue here – if you like what you see sign up today
KPMG closes small business accounting service
11 February 2019
KPMG Enterprise is to close its small business accounting service, five years after it promised its cloud-based platform would ‘disrupt and dominate the SME market’!
The Big Four firm invested £40m into the technology platform, which it promised would deliver the accounting services to small and micro-businesses affordable prices.
It appears the firm has now written to all its current customers to tell them they need to find ‘alternative arrangements’.
A KPMG spokesman said: “We can confirm that we are proposing to withdraw the provision of our small business accounting service in the UK, which offers cloud-based bookkeeping to small and micro-businesses.”
KPMG obviously doesn’t see this as a growth area, and is re-focusing the business on services that are core to the firm.
A small number of staff (there were 200 working on this) will be used to manage the handover to alternative suppliers.
Subscribe to RSS