New York, New York--(Newsfile Corp. - December 12, 2024) - KPMG LLP, the audit, tax and advisory firm, has released the findings of a survey on ecosystem partnerships, which reveals that 83% of respondents plan to expand their partner ecosystem to accelerate growth, and nearly half express interest in exploring not just traditional partnerships, but also technology affiliations, strategic alliances, or other collaborative relationships.
The survey of 258 U.S. leaders at companies with revenue of $1 billion and above, sheds light on the evolving landscape of partnerships and their role in driving growth, innovation, and adaptation to industry changes. It also finds that generative AI is having a significant impact on ecosystem strategies.
"Companies clearly recognize the value of ecosystem partnerships in achieving their growth strategies," said Todd Lohr, Head of Ecosystems and National Operations Leader for Advisory Markets at KPMG LLP. "By collaborating with the right partners, organizations can leverage industry expertise, access resources, and foster innovation, ultimately positioning themselves for long-term success."
A staggering 75% of respondents view ecosystem partnerships as a pivotal component for growth, fueling innovation, driving transformation, and helping them adapt to industry changes by leveraging industry expertise and resources. Yet 71% highlight aligning goals and expectations among partners as a key challenge.
The survey reveals that a little more than a third of respondents are consistently measuring the performance of their partner ecosystem. This signals a crucial need for effective performance tracking to ensure seamless partnership alignment and management.
Looking ahead, 94% of organizations believe that their partner ecosystem will serve as an enabler for future growth, competitive advantage, and business resilience.
Organizations' ecosystems are currently dominated by technology partners (84%), emphasizing the importance of collaborating for technological expertise.
The survey also finds that 48% of organizations feel that Gen AI has influenced their ecosystem strategy and planning. Ecosystem partners play a crucial role in an organization's Gen AI program by providing specialized tools and, technical expertise, sharing knowledge, fostering innovation, and accelerating AI project deployment.
"These key findings underscore the growing need for organizations to evolve their partner ecosystems for the future," said Jeanne Johnson, Digital Transformation Leader, KPMG LLP.
"Our experience assisting organizations in leveraging ecosystems to position themselves for sustainable growth and competitive advantage has demonstrated that transforming their business around the customer is critical to their success. Leading with a tactical focus yields sub optimal results."
"As companies continue to navigate an ever-changing business landscape, ecosystem partnerships will be critical to achieving growth, competitive advantage, and business resilience," Lohr said.
About KPMG LLP
KPMG LLP is the U.S. firm of the KPMG global organization of independent professional services firms providing audit, tax and advisory services. The KPMG global organization operates in 143 countries and territories and has more than 273,000 people working in member firms around the world. Each KPMG firm is a legally distinct and separate entity and describes itself as such.
KPMG is widely recognized for being a great place to work and build a career. Our people share a sense of purpose in the work we do, and a strong commitment to community service, inclusion and diversity and eradicating childhood illiteracy. Learn more at www.kpmg.com/us.
Contact: Melanie Batley
KPMG LLP
(201) 307-8217
mbatley@kpmg.com
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