As released to the ASX on 7 May 2018.

Key highlights:

  • KPMG takes paid subscription licence to Gooroo for use internally
  • Both parties sign Master Services Agreement as opportunities emerge

Gooroo Ventures Limited (“Gooroo” or “the Company”) is pleased to confirm that it has expanded its commercial relationship with KPMG to a paid subscription licence and Master Services Agreement.

KPMG’s paid deployment of the Gooroo Enterprise platform will begin within Solution 49x, the Cognitive Science & Artificial Intelligence division of KPMG’s Advisory practice. The initial term is for six (6) months to provide the Solution 49x team the time to learn and identify how to best leverage and deploy the technology within the business. On completion of this initial period, a recommendation is expected for a broader implementation across KPMG’s Management Consulting practice.

Internally, Gooroo will be used by KPMG to:

  • recruit staff and streamline third party recruiters
  • provide analytics to support more confident decision making around how KPMG develops, structures and grows its people and teams
  • support the alignment of consultants to client engagements.

Over the past few months numerous opportunities have been identified with KPMG clients and are now entering final stages of negotiation. During this time KPMG has also completed an extensive due diligence exercise, including a security, privacy and risk audit on the Gooroo platform. The parties have since signed a Master Services Agreement (MSA) to formalise the contractual terms governing each client engagement. There is no end date for the MSA and the scale of each Gooroo deployment will be linked to each work order received from KPMG.

Rod Bryan, Lead Partner, Solution 49x, KPMG Australia
"We have been working hard on building new service lines and solutions that integrate the Gooroo technology and intellectual property. Gooroo represents an important cog in our strategy and we are excited about the significant opportunities that are now in front of us both. We believe that our relationship with Gooroo will deliver significant commercial returns for the firm this year. In addition, we also see the Gooroo platform playing an important role in how we plan for and build our teams internally, and it is our expectation that Gooroo’s reach will continue to expand throughout the firm." 

Greg Muller, CEO of Gooroo Ventures
"KPMG represents an important strategic partner and an example of the relationships we’re now forming as we accelerate our commercialisation and monetisation efforts. KPMG understands the transformative potential of Gooroo and the role it can play both internally and strategically for its clients. Having a Master Services Agreement in place provides the mechanism to engage commercially and we are very excited about the prospects and commercial opportunities that have been identified."

-ENDS-
 

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