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Accenture plc (NYSE: ACN) is a global professional services company headquartered in Dublin, Ireland. With reported revenues of $61.6 billion in 2022, this Fortune Global 500 company specializes in information technology services and consulting. Accenture employs nearly 500,000 professionals across 200 cities in 51 countries, delivering a wide range of services including strategy, consulting, technology, and operations.
The company's core services encompass digital transformation, procurement, and software system integration. Accenture's diverse client base spans various sectors such as communications, media, technology, financial services, health and public services, consumer products, and resources. Recent accomplishments include the launch of a new federal health portfolio following the acquisition of Cognosante, which will enhance mission-driven solutions for federal health agencies.
Accenture is also focused on sustainable business practices. It recently acquired Partners in Performance, a strategy firm specializing in asset-intensive industries, to bolster its capabilities in data and AI. In the semiconductor industry, Accenture expanded its digital engineering services by acquiring Teamexpat, further cementing its leadership in technology-driven solutions.
Through innovative ventures like its partnership with Kraken Technologies, Accenture helps utilities modernize and enhance customer energy management, exemplified by its collaboration with EDF in the UK. The company's federal services arm, Accenture Federal Services, continues to support U.S. government agencies, evidenced by a contract with the TSA valued at up to $170 million to deliver agile technology solutions.
Accenture is committed to driving customer-centric transformations using advanced technologies. Collaborations with leading brands like Bath & Body Works and MI New York underline its ability to leverage AI and digital tools to enhance customer experiences and operational efficiency. By constantly evolving its service offerings and embracing cutting-edge technologies, Accenture remains a pivotal force in the professional services landscape, creating value for clients, shareholders, and communities worldwide.
Accenture (NYSE: ACN) has announced a strategic investment in BehaVR, a leading innovator in virtual reality (VR) digital wellness and therapeutics. This investment aligns with BehaVR's merger with OxfordVR, enhancing access to VR-based mental health treatments. The combined entity aims to address the urgent need for mental health resources, with projections indicating the digital therapeutics market could exceed $13B by 2027. Accenture's Project Spotlight will support BehaVR in expanding its offerings and driving awareness of its VR-powered services for mental health care.
Accenture Federal Services and the Partnership for Public Service released a report emphasizing the need for federal agencies to align systems with customer experiences. The report outlines a blueprint for enhancing customer experience (CX) through collaboration and investment across various government functions. It identifies seven key steps towards fostering a customer-centric approach, aiming to improve equitable service delivery. The findings will be presented at the Fourth Annual Customer Experience Summit on December 6, 2022, at 10 am ET.
Accenture (NYSE: ACN) has acquired Fiftyfive5, enhancing Accenture Song's capabilities in customer insights and marketing strategies. This acquisition aims to help clients accelerate growth and innovation within Australia and New Zealand. Fiftyfive5, recognized for its customer insight strategies and named B&T Research Agency of the Year, possesses a skilled team of over 200 professionals. The acquisition aligns with Accenture Song's strategy to deepen its service offerings in the evolving US$28.7 billion global customer analytics market expected by 2026.
Accenture announced the promotion of 1,214 individuals to managing director, with 454 (37%) being women, as part of a commitment to gender diversity. The company aims to achieve 30% women at the managing director level by 2025, currently at 29%. Additionally, 119 appointments to senior managing director were made, with women comprising 28% of these positions. Progress on race and ethnicity representation in the US, UK, and South Africa was also reported. These promotions are effective December 1, as highlighted by CEO Julie Sweet.
Accenture (NYSE: ACN) and Qorus announced the winners of the 2022 Qorus-Accenture Banking Innovation Awards in Barcelona, highlighting transformative banking practices. Over 680 entries from 57 countries were submitted, showcasing innovation among global financial institutions. DBS Group was named Global Innovator for over 20 digital solutions. Other notable winners included CaixaBank for AI-driven customer interaction, KEB Hana Bank for tailored digital branches, and HSBC for its fraud awareness app. The awards underscore the shift towards data-driven banking and improving customer experience.
Accenture (NYSE: ACN) has launched Velocity, a new cloud-services platform co-developed with Amazon Web Services (AWS). This platform aims to optimize business outcomes by reducing complexity in enterprise-scale applications, facilitating faster adoption of AWS innovations. Clients can leverage Velocity for enhanced cloud success with cost-effective features such as a Technology Fabric, Accelerators, and Activators. The initiative is part of Accenture's ongoing investment to drive growth and innovation across industries, acknowledging clients' need for rapid cloud migration.
Accenture (NYSE: ACN) has invested in KETOS, Inc., a data intelligence firm focused on water efficiency and quality. This investment is part of Accenture Ventures' Project Spotlight, aimed at enhancing strategic capabilities by connecting startups with the Global 2000. KETOS has raised nearly $40 million to develop its SaaS platform that provides real-time water quality monitoring, addressing the expected surge in water compliance spending, projected to rise from $80 billion to $475 billion by 2030. Terms of the investment were not disclosed.
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