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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 been recognized as a leader in three IDC MarketScape supply chain assessments for its innovative approach in creating resilient, agile customer-centric supply chains. The reports highlight Accenture's ability to leverage strategic ecosystem relationships to enhance efficiency and customer experiences while driving sustainable growth. Analysts note that companies investing in resilient digital supply chains will outperform competitors. Accenture's comprehensive services span the supply chain, backed by expertise in Oracle and SAP solutions.
Accenture's new report highlights the necessity for banks to enhance and scale digital technologies to meet evolving consumer expectations and regulatory standards. Despite a surge in digital adoption due to COVID-19, only 6% of banks are deemed 'future-ready,' though this could rise to 37% by 2023 with improved core capabilities like AI and cloud. The report indicates that banks using advanced data analytics enjoy market valuations 18-27% higher than less digitized counterparts. Additionally, by 2023, 43% of banks plan to increase business-technology collaboration significantly.
Accenture (NYSE: ACN) has announced the acquisition of Root Inc., a consultancy specializing in organizational change management with 30 years of experience. This acquisition strengthens Accenture's Talent & Organization / Human Potential team by integrating Root's innovative digital and experiential assets, which enhance employee engagement and streamline transformational efforts. Root brings a proven methodology, the Root Learning Map®, utilized by nearly 1,000 organizations globally, facilitating effective strategy activation. Financial terms were not disclosed.
The Chicago Apprentice Network has reached a milestone of over 1,000 apprenticeships since its inception in August 2017. Founded by Aon, Accenture, and Zurich North America, the Network is designed to promote diverse talent pathways across various sectors. The organization now comprises over 50 employers from finance to technology. The progress will be highlighted at a virtual event attended by notable figures, including Senator Dick Durbin. Aon's investment of $30 million aims to create 10,000 apprenticeships nationally by 2030, enhancing workforce diversity and opportunity.
Accenture (NYSE: ACN) has successfully acquired Cygni, a cloud-native software development firm, to bolster its Cloud First initiative. The deal, announced on March 29, enhances Accenture's engineering capabilities by adding approximately 190 skilled developers specializing in cloud, data, and modernization solutions. Cygni, headquartered in Stockholm, has been recognized as a top workplace in Europe and Sweden, helping major brands in their digital transformation. The financial terms of the acquisition remain undisclosed.
Accenture (NYSE: ACN) has invested in Nigerian fintech startup Okra, an open finance platform aimed at enhancing connectivity between financial institutions and consumers in Africa. Founded in 2019, Okra targets the large unbanked population in the region. This marks Accenture Ventures' first investment in Africa through Project Spotlight, which connects emerging tech startups with global enterprise clients. With fintech poised to capture $78 billion of the $2 trillion banking payments market by 2025, this investment aligns with Accenture's strategy to promote innovation and economic growth in Africa.
Accenture (NYSE: ACN) has been recognized as a leader in commerce services in Forrester's report, The Forrester Wave™: Commerce Services, Q1 2021. Accenture scored the highest in the Commerce Strategy Services criterion, demonstrating strong client satisfaction and capabilities in areas including commerce platform development and operations. The firm received top scores for implementation services and innovation strategy, reflecting its comprehensive approach amid a changing digital landscape. This recognition emphasizes Accenture's commitment to delivering value to clients in a rapidly evolving market.
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