Accenture Success Story - Largest Consulting Firm in the World

Sarika Anand Sarika Anand Shashank Bhatt Shashank Bhatt
Dec 29, 2022 8 min read
Accenture Success Story - Largest Consulting Firm in the World

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In today's world, technology has been a significant catalyst for a lot of change that we are experiencing daily. The world is now completely digital. Modern mornings begin with us having a check on our notification tab on our phones, and the day is wrapped up by finishing off all our tasks on our devices followed up by setting the alarm for the next day. The ability to "Work from home" is made feasible by electronic devices and technology, which we were bound to follow as per the covid circumstances, but now is a choice of most working professionals. All of it, at our fingertips, so comfortably, is possible because of technology that keeps updating itself every day.

Accenture is a multinational management consultancy and professional services firm that provides consulting, marketing, technology, digital and operational services. It was founded on September 1, 2009, in Dublin, Ireland, and is a Fortune Global 500 business.

Accenture-About
Accenture- Industry Details
Accenture-Founders & Team
Accenture-Startup Story
Accenture-Name, Logo, and Tagline
Accenture-Mission, and Vision
Accenture-Business Model
Accenture-Revenue Model
Accenture-Funding, and Investors
Accenture-Investments
Accenture-Acquisitions
Accenture-Competitors
Accenture-Future Plans

Accenture-About

Accenture provides Strategy and Consulting, Technology and Operations services, and Accenture Song, combining unrivaled knowledge and specialized capabilities across more than 40 sectors. These services are all supported by the greatest global network of Advanced Technology and Intelligent Operations centers. Every day, its 721,000 employees fulfill their promises of both human and technological inventiveness, providing services for clients in more than 120 countries. To generate value and shared outstanding customer experiences, employees, shareholders, partnerships, and communities, the organization embraces the power of change.

Production and Services provided by Accenture are as follows:

  • Artificial Intelligence
  • Business Process Outsourcing
  • Metaverse
  • Application Services
  • Automation
  • Business Strategy
  • Change Management
  • Cloud
  • Data & Analytics
  • Digital Commerce
  • Digital Engineering & Manufacturing
  • Ecosystem Services
  • Finance Consulting
  • Infrastructure
  • Marketing
  • Mergers & Acquisitions
  • Operating Models
  • Supply Chain Management
  • Sustainability
  • Technology Consulting
  • Technology Innovation
  • Zero-Based Transformation

Accenture- Industry Details

The IT services sector offers a range of products and services that assist businesses in managing and improving their information and operational operations. Managed services, security services, data management, and cloud computing are all part of the larger IT services business.

  • In 2022, the market for IT services is anticipated to generate US$1,114.00 billion in revenue.
  • The IT Outsourcing market category is expected to have a market value of US$395.00 billion in 2022.
  • By 2027, the market volume is anticipated to reach US$1,570.00 billion, representing an annual growth rate of revenue of 7.10% (CAGR 2022-2027).
  • In the market for IT services, the average Spend per Employee is anticipated to reach US$322.30 in 2022.
  • In comparison to other countries, the United States will produce the highest revenue (411.80 billion US dollars in 2022).

Accenture-Founders & Team

Arthur E. Anderson,Clarence DeLany & Steve Wick
Arthur E. Anderson, Clarence DeLany & Steve Wick

In 1989, Arthur E. Andersen, Clarence DeLany, and Steve Wick established Accenture.

Arthur E. Andersen

Arthur Edward Andersen (May 30, 1885 – January 10, 1947) was a Scandinavian-American accountant who founded Arthur Andersen LLP (now Accenture).

Clarence DeLany

Accenture was also co-founded by Clarence DeLany.

Steve Wick

Steve Wick is Accenture's Founder and CEO of Content Aggregation and Content Analytics Platform (IT Agility).

More team members of Accenture include :

  • Ammy Anderson - CEO
  • Alex Pachetti - Chief of Staff to the Chief Executive Officer
  • Alexis Morel - Chief Executive Officer
  • Alix Hetteling - ANZ SAP CFO & EV Practice Lead
  • Amandeep Chhina - Team Lead (Management Consultant Level C)
  • Amrita Waingankar - Chief Medical Officer
  • Andrew Vo - Chief Human Resources Officer - Growth Markets
  • Annette Rippert - Group Chief Executive - Strategy & Consulting
  • Arlin Pedrick - Chief Security Officer
  • Arturo Pasarn - Chief Agile Scrum Master

Accenture-Startup Story

The history of the firm spans more than 60 years, starting with its early years as a pioneer in the emerging field of information technology in the 1950s and ending with its current status as a Fortune Global 500 industry leader. Initially, Arthur Anderson's business and technology division was Accenture. The company is credited for installing the system UNIVAC I computer and printer in 1953, which is said to have been the country's first usage of a computer for business purposes.\

The Andersen Worldwide Society Cooperative split up Arthur Andersen and Andersen Consulting in 1989.  After the arbitration with the International Chamber of Commerce was resolved in august 2000, Andersen Consulting severed all contractual links with AWSC and Arthur Andersen and paid the sum of $1.2 billion to Arthur Andersen. Andersen Consulting changed its name to "Accenture" on January 1, 2001, which is said to imply "Accent on the future." As the winner of an internal contest, Kim Petersen, a Danish employee from the business's Oslo, Norway, branch, proposes the name "Accenture."

Accenture's initial public offering (IPO) was conducted in July 2001 for $14.20 per share on the NYSE, with Goldman Sachs and Morgan Stanley serving as the primary underwriters. The price of Accenture shares at the day's end was $15.17; the day's high was $15.25. Accenture raised over $1.7 billion on the first day of the IPO.

Accenture-Name, Logo, and Tagline

Accent on the future is where the word "Accenture" comes from. Kim Petersen, a Danish worker from the business' Oslo, Norway, office, won the internal contest and came up with the name "Accenture."

Accenture's tagline says, "We make change work for you."

Accenture-Mission, and Vision

Accenture's mission statement says, “helping our clients create their future.”

Accenture's vision statement says, “To become one of the world’s leading companies, bringing innovations to improve the way the world works and lives.”

Accenture-Business Model

Customer Segment - Accenture's business strategy is mass market, with no distinction made between different types of clients. The business targets all categories of businesses, including mid-sized businesses, major corporations, and governmental entities, with its solutions.

Value Proposition - Accenture provides four main value propositions: brand/status, innovation, personalization, and accessibility. The business fosters accessibility by providing a variety of alternatives. It has up to $2.5 billion invested in new technologies and acquisitions, allowing it to expand its service offerings with a wide range of new capabilities. Through its expertise and focus on certain services, the organization provides personalization.

It offers local execution and market relevance in every country where it has operations, which total over 120. Additionally, it works in more than 40 different industries, and more than 50% of its employees are either connected with a particular market or have industry certifications. This enables it to offer counsel that is very individualized.

The business prioritizes innovation highly. It has an entity for research and development called Accenture Technology Labs that seeks and creates new technologies. Additionally, it runs the Accenture Institute for High Performance, a program aimed at giving clients access to cutting-edge, commercially viable insights and solutions. Due to its success, the business has built a strong brand.

With more than 375,000 people servicing clients in more than 200 locations across 120 countries, it is the largest consulting business in the world in terms of sales. It describes itself as the largest independent provider of technology services and counts Microsoft, HP, Oracle, and SAP among its illustrious clientele.

Accenture's business plan includes creating and delivering services that help clients solve problems.

Accenture-Revenue Model

Accenture has two sources of revenue :

  • Outsourcing - Revenues from company functions or client systems that are transitioned or managed through the use of services and resources are known as outsourcing revenue.
  • Consulting revenues - Profits from services such as management consulting and systems integration.

Accenture-Funding, and Investors

Date Round Amount Lead Investor
Oct 1, 2018 Grant $6M Youth Business International

Accenture-Investments

Date Organization Name Round Amount
Dec 16, 2021 HomeAssist.ph Grant $11.2K
Feb 2, 2021 InvestCloud Private Equity Round -
Nov 2, 2020 SkyHive Series A $8M
Sep 24, 2020 Ripjar Series B $36.8
Jan 9, 2020 ACCES Employment Grant CA$1.1M
Dec 17, 2019 TradeIX Series B -
Dec 11, 2019 Digital Asset Series C $35M
Oct 30, 2019 Upskill Venture Round $7.6M
Mar 26, 2019 Vlocity Series C $60M
Feb 28, 2019 P97 Networks Series B $5M

Accenture-Acquisitions

Acquiree Name About Acquiree Date Amount
ALBERT ALBERT offers businesses analytics and consulting services to assist them in their business decision-making. Nov 15, 2022 -
Blackcomb Consultants Blackcomb Consultants develops enterprise system & cloud-managed solutions as well as offers production support services to insurance firms. Oct 4, 2022 -
Inspirage Inspirage is a company that provides supply chain solutions for businesses. Sep 6, 2022 -
Carbon Intelligence Carbon Intelligence provides a strategic roadmap, programs, and services to help organizations move towards a zero-carbon economy. Sep 1, 2022 -
MacGregor Partners MacGregor is a supply chain software and consulting firm that leverages technology to ensure our client's products keep the world in motion. Sep 1, 2022 -
YSC Consulting YSC provides leadership strategy consulting services. Aug 9, 2022 -
Sentia Sentia manages applications for insurance companies and other companies that require secure hosting services. Aug 2, 2022 -
Tenbu Tenbu is a company specialising in the development and implementation of the best solutions to support the decision-making of its clients. Aug 1, 2022 -
Solvera Solutions Solvera Solutions delivers innovation and value to our clients throughout western Canada. Jul 25, 2022 -
Eclipse Automation Eclipse Automation is a leading supplier of custom automated manufacturing equipment. Jul 21, 2022 -

Accenture-Competitors

The top competitors of Accenture include IBM, PwC, Tata Consultancy Services (TCS), Capgemini, Deloitte, Cognizant, SAP, and DXC Technology.

Accenture-Future Plans

Strategy & Consulting, Interactive, Technology, and Operations will be the four services into which Accenture will divide its industry-leading capabilities. Instead of using operational groups, the corporation will manage its operations via three geographical markets: North America, Europe, and Growth Markets. Accenture will keep targeting certain industries and grow its international industry programs. Accenture will alter its leadership at the same time and broaden the composition of its Global Management Committee to include more executives from its service and regional markets.

Accenture is undertaking these improvements at a time when its clients are experiencing unheard-of change. Technology and digital are increasingly essential to business success, driving the demand for constant innovation and enterprise-wide change. Due to the dissolving of conventional industrial boundaries caused by digital disruption, cross-industry competence is essential. The convergence of location, industry, and technology is where this disruption and other developments are taking place.

Given these trends, Accenture is becoming more agile in order to offer its clients a distinctive variety of services, from strategy to operations, with a strong emphasis on digital capabilities. Applied intelligence, extensive industry, cross-industry, and functional knowledge are all present in these services. Accenture will also quicken innovation by fusing the local and the global in a seamless manner, utilizing its unrivaled network of more than 100 innovation centers, and collaborating even more closely with its ecosystem partners to develop quick-value solutions. These adjustments will strengthen the company's position as a top partner for innovation and transformation.

Accenture's shift to the new strategy during the past six years, including digital, cloud, and security, has shown an unequaled capacity to spot and seize fresh possibilities in the most important, fastest-growing segments of the industry. The goal of these adjustments is to improve the company's capacity to foresee customer requirements and market shifts.

FAQs

Who is the CEO of Accenture?

Julie Sweet is the CEO of Accenture.

What does Accenture do?

Accenture provides digital, cloud & security services.

Where is the headquarters of Accenture?

The headquarters of Accenture is in Dublin,Ireland.

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