Powering an open age of professional services using Engine B

This project led by Engine B will transform the future of the professional service market by ensuring that all companies and firms, large and small, have access to competitive and innovative next generation digital services. To realise this vision, the platform developed by Engine B will open up what is, an under-served market place of smaller companies who cannot afford people based services to stimulate innovation and competition.

Engine B will deliver a data access platform which will provide the equivalent open access to corporate data on a scale equivalent to open banking. The standardisation of client data access is a complex but narrow technological solution, that will unlock competition through the next generation of digital professional services with manifest economic impact. While the dawn of digital services are imminent, few firms are currently able to invest the time and resources required to offer next generation services.

Engine B will leverage the audit firms to install its Secure Data Exchange Platform and will establish a key market to accelerate the development and adoption of new digital services.

Engine B has a cross sector project consortium working with leading firms and academics. Through the project this team will address a market need and opportunity around curating accessible data for audit by:

Making data accessible across the UK business landscape to drive innovation, growth and productivity
Enabling UK business to retain and regain control over their data
Opening up competition in the audit market place and accelerating the use of AI to improve quality
Facilitating the UK to become the global legal tech services hub, broadening the international use of the law of England & Wales
Accelerate the diffusion and adoption of AI in audit that are linked more widely across professional services
The approach of Engine B during the project is to develop and scale an innovative approach based on a narrow data access solution that will leverage a new open data model and build knowledge graphs. Through the technology and the platform that Engine B is establishing it will mobilise an ecosystem of startups and be a catalyst to the diffusion of professionals services technology - Prof-Tech.