Accenture is a multinational company, and its actual name is Accenture pls. It is an Irish company that provides various professional services.
Some of the services are consultation, strategizing, digitalization and operations and technology. It is a publicly held company.
This company brings out the best in a human and deeply studies the change in human mindset and brain capacity to understand where the trend is going and what skills can be acquired by force to cater to the increasing technological needs.
Accenture History
The company started off with a consultation dedicated to technology and business. The company was actually a part of the accounting company Arthur Anderssen LLP.
- Andersen Consulting announces New Name — Accenture — Effective 01.01. 01. London; October 26, 2000—andersen Consulting Will Enter the New Year as Accenture.
The initial days
The company had been consulting GE, which is situated in Kentucky, which led to the installation of computers and printers and was considered the first commercial use of computers in the U.S.A in the 1950s.
The rise of Accenture
After that, 1989 brought the split between the consulting division and the parent firm. But the division had resulted in a payment of 15% of the profit amount being paid to Arthur Andersen, and thus, with some contractual debates, the ties were completely broken.
The consulting division had to change its name to Accenture, which had its origin from the phrase: Accent on the future.
Earlier it was known as Andersen Consulting. The headquarters is located in Dublin, Ireland. The current CEO is Julie Sweet. Accenture is known for following the current trends in technology and updating itself according to the market. The company had its primary headquarters in Bermuda, which was later shifted to Ireland.
Accenture Brand values
The company came under the Global 500 and was featured in Fortune magazine. According to statistics, the revenue generated in 2019 was around $ 43 billion and had a total of 5 lakh employees, with 1.5 lakh employees in India alone.
It has been providing services in around 120 countries, covering 200 cities. It serves more than 90 companies coming under Fortune 100 and more than 375 companies coming under Fortune 500.
It has gained positions in the Forbes 2000 list globally in 2016, 2017 and in recent years too, and Fortune 500 list globally in 2016,2017 and in recent years too. It was given a position in the Top 50 Companies according to Diversity Incorporation and Diversity.
According to Forbes 2017, Accenture was considered to be one of the best management firms out of 12 companies. It has been recognized 12 times by Ethisphere Institute. It has got the title of Top 100 companies to work for by Forbes for about 10-11 years. It has been recognized for medical and healthcare-related consultancy.
- Accenture Currently Ranks 279th on The Latest Global Fortune 500 List, Which Lists the 500 Largest Companies by Revenue.
Accenture Brand strategies
Collaborations and contracts
Accenture had replaced CGI group from being the firm providing professional services to HealthCare.gov, and thus it continued till 2019 when the contract was of about $563 million.
Then in 105 also, it had been handed over a contract with other big companies and had to play the role of configuration specialist with another company being the main contractor.
The contract was for about $ 4 billion, and U.S.D.O.D gave the contract. And then, in 2017, it collaborated with Apple Incorporation for iOS software for business. They have been using machine learning to collaborate with others, thus mending the gap between existing and changing technologies.
A broad range of services
Accenture provides a broad range of services under five entities. The five entities are A. Technology, A. Strategy, A. Digital, A. Consulting and A. Operations, where “A” stands for “Accenture”.
- The technology works on software technology, implementing the technology, delivery of the product and research and development based on it.
- The strategy gives a strategy for business, technology and operations.
- Digital focuses on digital marketing, mobility services and analytics.
- Operations bases its work on providing IT services, managed operations, business process outsourcing, security and cloud services.
- Consulting gives the consultation on business, technology and management.
Marketing
In 2011, Accenture advertised with the phrase: High performance delivered with clients like Unilever, Royal Shakespeare Company and Marriott. Tiger Woods was a celebrity who was involved in promoting the brand. They are innovative in their ideas and bring out customization as a tool, thus following the market trend.
Branding
Accenture was ranked under 40 among the best global brands. Branding is done based on five entities which were A. Technology, A. Digital, A. Operations, A. Strategy and A. Digital. Graphik font is used for branding too. It has worked progressively to mend the gap between men and women by introducing gender-neutral dresses and washrooms.
Acquiring companies
All companies that Accenture acquired in 2020 were Broadcom acquired Symantec’s services of 300-person cybersecurity, ESR labs which were involved in designing the software embedded for car brands (German) and Revolutionary Security which is a company working in infrastructure protection. These companies have been bought to increase revenue.
Future strategies
Recently it has been working with Microsoft also for Microsoft Teams. The Teams program has been a success and has been given the tag of a well-organized program. It is considered a better option than Skype and is more secure for online conferences and business meetings.
In the time of a global pandemic which has limited the work just to homes, and people are having trouble with that, Accenture is trying to bring out new technologies, and this is a time to call for a strategy that can beat the global pandemic by social distancing and stress of the employees related to internet connectivity and work from home.
Accenture is trying to focus on work ethics by acquiring new skills at a time when society demands a strategy to be deployed. They have always aimed at the users’ needs and getting a tool that can ease their work with strategic planning and plotting.
It has been doing some phenomenal work by working on AI, quantum computing, extended reality, IoT etc. They are looking for meaningful collaborations on the journey ahead. They also understand the demand for customized products and thus are trying to make the product as good as possible for the best experience for the consumer.
They are seeking collaboration between humans and machines. They have been poling all the talents and targeting them to the field they can be put into and create a talent ecosystem.
They understand the importance and procedure of reskilling because of day-to-day changes in the digital market and thus are planning to accelerate the process.
- Accenture Has Forecast to Grow 12-15% in Fiscal Year 2022, on Top of The $50.5 Billion Revenue It Achieved in The Current Fiscal.
Conclusion
Accenture is a great company. The company has to go through certain difficult situations at times. But it has to work within a certain time period because most of the trouble and cases that the company was dealing with were related to the issue of timing.
The company is trying to stay above the water and build something beautiful that can provide the populace with a smooth way to surf through abundant technological tools.
They have an approach that is quite simple yet is not so popular. That is the systems approach to cater to the existing generation’s hunger; for that, they have been rooting on to the newer technology and skills.
To sum it all by far it is one of those companies which focus on harboring and nurturing the talents in the existing populace and use them as much as possible to cater to the needs of consumers.
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