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Accenture
Company Profile

by Faulkner Staff

Copyright 2022
Faulkner Information Services. All Rights Reserved.

Docid: 00016106

Publication Date: 2208

Report Type: VENDOR

Preview

Accenture is a management consulting, outsourcing, and IT services vendor
that is incorporated in Ireland. The company,
which formerly ran as the consulting unit of auditor Arthur Andersen, delivers its
services and solutions through four primary groups: Accenture Strategy &
Consulting, Accenture Interactive, Accenture Technology, and Accenture
Operations. The firm has 710,000 employees (2022) and operations in 50 countries
and 200
cities, serving more than 7,000 clients in 120 countries. This profile takes an extended look at Accenture’s operations.

Report Contents:

• Fast Facts
• Profile
• Strategy
• Product Lines
• Activity

Fast Facts

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this report]

Name: Accenture
Global Headquarters
1 Grand Canal Square
Dublin, Ireland D02 P820
Phone: +353 1 646 2000
Fax: +353 1 646 2020
Web:
https://www.accenture.com/
Type of Vendor: Consulting, Outsourcing, and IT Services
Founded: 1989
Service Areas: Global
Number of Employees: 710,000 (2022)
Stock Symbol: ACN (NYSE)

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Profile

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Accenture is a professional services firm that provides management
consulting, technology, and outsourcing services for some 7,000 clients in multiple types of
industries in 120 different countries. The company has 710,000 employees (2022)
and operations in 200 cities across 50
countries. Core areas of operation include:

• Accenture Strategy & Consulting – Includes applied
  intelligence, Industry X, and supply chain and operations business
  strategies and management consulting.
• Accenture Song – Formerly Accenture Interactive, focuses on customer insights
  and growth through analytics and digital marketing.
• Accenture Technology – Includes Accenture Labs,
  application services, blockchain, and cloud research and development,
  implementation, and delivery.
• Accenture Operations – Business process services,
  including outsourcing, IT and cloud services, and security.

History & Milestone Events

Accenture’s history goes back to 1913 when Northwestern University professor
Arthur Andersen founded an accounting firm that he ran until his death in 1947.
The company almost folded, but Andersen’s protégé Leonard Spacek assumed the
reins, guiding the business to a leading position in the accounting industry. In
the 1950s, a group of partners within Arthur Andersen launched a new division,
beginning a consulting practice designed to help clients manage electronic
information systems. A restructuring in 1989 organized Arthur Andersen and
Andersen Consulting as distinct enterprises under parent firm Andersen
Worldwide. The group of consulting partners divested their ownership stake in
Arthur Andersen to establish the initial Andersen Consulting partnership.

During the 1990s, the consulting business’ revenues grew steadily, eclipsing
those of Arthur Andersen’s auditing business. When Arthur Andersen moved to
establish its own consulting arm, Andersen Consulting launched an almost
decade-long legal dispute to disengage its business from Andersen Worldwide.

More recent noteworthy news items in Accenture’s history have included:

• 2000 – Sees the International Court of Arbitration rule that
  Anderson Consulting could separate without incurring a $14.5 billion
  penalty, as had been requested by Arthur Anderson. Andersen Consulting was
  ordered to pay roughly $1.2 billion to its former parent firm, and to
  relinquish its brand name.
• 2001 – Anderson Consulting emerges as Accenture and begins
  operations.
• 2009 – As Accenture Ltd., completes a transaction in which Accenture plc, organized in Ireland, becomes its parent holding company. The
  company had previously been incorporated in Bermuda.
• 2016 – During the course of the year, appoints 647 new
  managing
  directors and senior managing directors.
• 2017 – Extends its international and domestic presence with the
  opening of new Liquid Studios in Toronto, Helsinki, and Johannesburg; a
  digital hub in Madrid; and an innovation hub in Houston, Texas.
• 2018 – Is contracted to build a new data center for the US
  Library of Congress and Copyright Office, as well as to migrate the
  Library’s data center to new hosting environments … Teams with Google
  Cloud to launch the Accenture Google Cloud Business Group … With SAP,
  co-develops a new digital defense offering for defense and security agencies
  … Introduces new services for testing AI (artificial intelligence) systems
  … Buys PrimeQ, New Content, Enaxis Consulting, Kolle Rebbe, Kaplan,
  Intrigo Systems, DAZ Systems, and Pillary Technology … Is awarded a
  contract to run and maintain digital managed services for data analytics and
  business intelligence for Siemens.
• 
  2019
  – Appoints Julie Sweet as CEO, effective September 1, 2019 … With
  Microsoft, establishes the Accenture Microsoft Business Group … Closes
  numerous acquisitions, including Northstream Consulting and Silveo … Names
  Penelope Prett as CIO.
• 
  2020
  – Outlines a plan to reorganize operations into four areas of
  services and revamp its leadership … Is awarded a ceiling-value $7.5
  billion contract with the US Department of Defense’s Defense Information
  Systems Agency (DISA) to provide systems engineering and technology
  solutions … Acquires a number of companies, including: Organize Cloud Labs
  ("deep" cloud strategy), PLM Systems (product lifecycle management), Gekko
  (AWS cloud services), Byte Prophecy (automated insight and Big Data
  analytics), Symantec’s Cybersecurity Services business, Revolutionary
  Security (cybersecurity services), Yesler (marketing services), ESR Labs
  (software development), Context Information Security (cyberdefense
  services), VanBerlo (product-design and innovation agency), Sierra-Cedar’s
  Workday, Salesforce, and US MuleSoft practices, and consulting firms
  Sentelis, Kates Kesler, Callistro Integration, NIKE Group, Mudano, AlphaBeta
  Advisors, VanBerlo (product-design and innovation agency), Icon Integration,
  maihiro, Clarity Insights.
• 
  2021 – Continues its acquisition activities with the purchase of,
  among others, Wolox (cloud app software developer), Edenhouse (SAP cloud
  consulting), Pollux (industrial robotics and factory automation), GRA (an
  Australian supply chain and logistics consultant), Openminded (cybersecurity
  services), Novetta (government analytics), Umlaut (technology engineering),
  and Sentor (managed security services provider and cyber defense
  services)… In August, successfully defends itself from an attack that used
  the LockBit ransomware, claiming there was "no impact on Accenture’s
  operations, or on our clients’ systems" … Names David Droga as CEO and
  chair of Accenture Interactive.
• 2022 – Appoints Manish Sharma as chief operating officer and
  Yusuf Tayob as group chief executive of its Operations service … Following
  Russia’s invasion of Ukraine, discontinues all business operations in Russia …
  Acquires Alfa Consulting, specializing in operations strategy in Spain, Portugal,
  and Mexico … Names Paolo Dal Cin as global head of Accenture Security …
  Renames Accenture Interactive as Accenture Song … Appoints Jack Azagury as group
  chief executive for Strategy & Consulting and Leo Framil as CEO of Growth Markets.

Strategy

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Accenture announced a 2020 reorganization of its operations, effective March
1, 2020, that saw the establishment of four company areas: Strategy &
Consulting, Interactive (renamed Song in April 2022), Technology, and Operations, in turn managing its
business through North America, Europe, and "growth markets," instead of
operating groups. At the same time, Accenture outlined plans to institute
leadership changes and expand its Global Management Committee.

The company’s strategy is to create shareholder value and enable competitive
agility, via partnerships, to define and answer strategic business questions
concerning growth, profitability, technology-driven transformation, M&A,
operating models, and sustainability. Particular areas of the corporate
philosophy include
building a climate of shared success, promoting equality and environmentalism,
and driving innovation and impact in global development. Core values include:

• Client Value Creation
• One Global Network
• Respect for Individuals
• Attracting, Developing, and Retaining the Best People
• Integrity
• Stewardship

Strengths

Accenture regards itself as a leading professional services company. Among
the company’s core competitive strengths are:

• Broad range of services, spanning strategy, consulting, digital,
  technology, and operations
• Specialized skills across over 40 industries and business functions
• World’s largest delivery network
• $10.3 billion (20 percent of total) revenues pulled in by the
  Communications, Media & Technology segment for FY 2021
• Nearly $59.3 billion (fiscal year 2021) in new revenue, a 20 percent
  increase over the previous year
• Increased investment in research and development from $800 million in FY
  2019 to $1.1 billion in 2021
• The COVID-19 pandemic created strong demand as customers accelerated digital
  transformation, pushing revenue for the second half of 2021 up by 22 percent

Weaknesses

Like many of its competitors, Accenture faces certain general risks and
uncertainties that could broadly affect its operations, financial condition,
operations results, and stock price. Potential risk factors include:

• Volatile, negative, or uncertain economic conditions
• Potential for reduced demand due to competitors with more diverse
  resources
• Competitive marketplace that includes multi-national providers,
  off-shore service providers, accounting firms, niche solution and service
  providers, and the in-house departments of much larger corporations
• Cost competition

Outlook

In the 2021 annual report, Accenture CEO Julia Sweet said, "While we are
in a time of profound digital transformation with ongoing exponential technology
change, many companies are just beginning their journey. Even for companies that
are transformation leaders or those working with us to leapfrog ahead, there is
still a lot of work to do. For example, both the things companies make, and the
way they make things, are being dramatically changed by technology. This is the
focus of Industry X, which we believe is the next big digital frontier. It is an
area in which we have invested for nearly a decade and now accounts for
approximately $5 billion in revenue."

For fiscal 2022, the company expects revenue growth to be in the range of 12
to 15 percent in local currency, with earnings per share in the range of $9.90 to
$10.18, an increase of 13 to 16 percent over adjusted 2021 diluted earnings per share.

Product Lines

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Accenture’s revamped operating group lineup includes the consolidated
Accenture Strategy & Consulting, as well as Accenture Song (formerly
Accenture Interactive), Accenture
Technology, and Accenture Operations. These groups,
and their core areas of coverage, are detailed in Table 1.

Major Competitors

Accenture functions in a highly competitive global services market that
includes multinational providers, off-shore service providers, accounting firms,
niche solution and service providers, and the in-house departments of larger corporations. Top competitors include:

• Booz Allen Hamilton:
  https://www.boozallen.com/
• Capgemini: https://www.capgemini.com/
• Cognizant: https://www.cognizant.com/
• Deloitte Touche Tohmatsu Limited: https://www.deloitte.com/
• DXC Technology: https://www.dxc.com/
• Ernst & Young: https://www.ey.com/
• IBM Services: https://www.ibm.com/services
• KPMG: https://home.kpmg/us/en/home.html
• McKinsey and Company: https://www.mckinsey.com/
• PricewaterhouseCoopers: https://www.pwc.com/

Activity

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Mergers, Acquisitions, and Divestitures

Accenture has agreed to purchase Solvera Solutions, a Canadian company that
delivers platform-led digital transformation services across Western Canada. Founded in 2005, Solvera Solutions has a
team of more than 450 professionals with consulting and managed service capabilities across ServiceNow, Microsoft, and
SAP platforms, serving clients in the public sector, health, financial services, utilities and energy, and agriculture
industries. Accenture expects the acquisition to be a catalyst for continued growth in British Columbia, Alberta,
Saskatchewan, and Manitoba.

(07/25/2022)

Accenture has agreed to acquire Eclipse Automation, a provider
of customized manufacturing automation and robotics solutions headquartered in Cambridge, Ontario, Canada.
Eclipse Automation creates automated manufacturing systems for life sciences, industrial equipment, automotive,
energy, and consumer goods companies. Products created with its components and devices include electric vehicle
batteries and wearable blood-glucose monitors. The acquisition will allow Accenture to offer automated production
lines that leverage the cloud, data, and artificial intelligence (AI) to make factories and plants more productive,
sustainable, and safe.

(07/21/2022)

Accenture has agreed to acquire The Stable, a commerce
agency focused on helping consumer brands build and operate their own digital commerce channels as
well as manage their brand and sales performance across key North American retailers. The agreement
reinforces Accenture’s continued investments in commerce to help clients accelerate growth and sustain
relevance. The Stable’s team of more than 400 people will join Accenture Song enhance the unit’s global
commerce transformation expertise and its ability to build and operate data-driven digital commerce
ecosystems that maximize sales performance and create innovative marketing and commerce experiences.
Terms of the transaction were not disclosed.
(07/13/2022)

Accenture has completed its
acquisition of digital engineering and operational technology capabilities from
Trancom ITS, a Japanese logistics technology services provider. Approximately
190 Transcom ITS engineers will join Accenture Industry X in Japan as part of
the transaction. They specialize in cloud-based logistics systems and optimizing
warehouse operations with IoT and sensor technology. The acquisition strengthens
Accenture’s digital engineering, manufacturing, and logistics capabilities to
offer hyper-automation solutions at scale, which manufacturing and logistics
companies in Japan are increasingly demanding. Terms of the transaction were not
disclosed.

(07/01/2022)

Accenture has entered into an agreement to acquire XtremeEDA,
an Ottawa-based silicon design services leader. The company provides semiconductor engineering services
for clients seeking custom silicon solutions used in consumer devices, cloud data centers, machine learning
and artificial intelligence (AI) computational platforms to enable edge AI deployment. The terms of the
acquisition were not disclosed.

(06/27/2022)

Accenture has acquired Advocate Networks, LLC, a leading technology
consultancy and managed services provider of Technology Business Management (TBM) solutions that help organizations
create business value, achieve cost savings, and modernize their technology platforms. Advocate’s team of more than
85 professionals will join Accenture’s Technology Strategy & Advisory practice, bringing capabilities for helping
clients define, architect, and measure value from their digital and cloud transformations. Advocate has deep technology
expertise and a full suite of services that help organizations align technology investments with business goals and uncover
savings to reinvest in initiatives that drive growth and transformation. Terms of the deal were not disclosed.

(06/06/2022)

Accenture has agreed to acquire Allgemeines Rechenzentrum GmbH (ARZ),
a technology service provider focused on the banking sector in Austria. The acquisition will expand Accenture’s
cloud-based banking platform-as-a-service offerings, ranging from core banking services to online banking as well
as regulatory services for banking clients across Europe. ARZ’s approximately 600 employees will join Accenture
and will continue to work in their existing locations in Vienna and Innsbruck.

(06/01/2022)

Accenture has acquired Germany-based akzente, a recognized sustainability
consultancy. akzente helps companies across a broad range of industries including automotive, financial services,
energy, and consumer goods build sustainability into the core of their businesses and create sustainable value for
their stakeholders. The move significantly strengthens Accenture’s sustainability capabilities and builds on
Accenture’s Sustainability Value Promise to embed sustainability into everything the company does and with everyone
it serves. Terms of the transaction were not disclosed.

(05/02/2022)

Accenture has acquired Ergo, a data-centered business
located in Argentina that helps companies create a employ data-driven decision-making using big
data, analytics, and artificial intelligence (AI). Ergo’s team of 200 data specialists will join
the Data & AI team within Accenture Cloud First. The acquisition expands Accenture’s Cloud First
capabilities to drive data-led transformations for clients in the Hispanic South American market,
spanning Argentina, Chile, and Colombia.

(04/21/2022)

Accenture has acquired Alfa Consulting, a specialist in
operations strategy for capital intensive industries. The acquisition reinforces Accenture’s capabilities
for helping clients in Spain, Portugal, and México transform their supply chains to be more resilient,
responsive, and sustainable. Headquartered in Barcelona with offices in Madrid and México, Alfa Consulting
has extensive expertise in leveraging analytics to design and implement new operational models for clients
across industries such as utilities, high tech, energy, and industrial goods. The company’s 52 highly
specialized consultants will join Accenture’s Supply Chain & Operations function, which helps clients with
end-to-end supply network visibility, customer-centered supply chain segmentation, sourcing and procurement
transformation, operational agility, resilience stress testing, and sustainable and responsible supply chain
strategies. Terms of the transaction were not disclosed.

(03/24/2022)

Accenture has completed the acquisition of Tambourine, an e-commerce
customer experience agency with capabilities in cloud-based technologies in Japan. Tambourine provides integrated
commerce services on the Salesforce platform and brings a proven track record in using Salesforce Commerce Cloud to
deliver seamless commerce experiences for consumer goods and entertainment companies. It provides customer experience
design and engineering, develops web services and applications, and offers consultancy services to optimize customer
touchpoints. Tambourine’s team of approximately 70 customer experience specialists, designers, and cloud engineers
joins Accenture Interactive in Japan. Terms of the transaction, which was announced on November 18, were not disclosed.

(12/22/2021)

Accenture has announced its intent to acquire AFD.TECH, an independent network
services company specializing in network engineering, operations, and business services. The acquisition would add more than
1,600 employees to Accenture globally, along with multidisciplinary capabilities across engineering, design, deployment, and
operation of next generation networks, such as 5G and fiber. Founded in 1998, AFD.TECH serves leading telecom brands and
clients across various industries, including energy, industrial, infrastructure, and life sciences sectors. The company is
based in France with additional offices in Belgium and Morocco.

(12/15/2021)

Accenture has acquired BCS Consulting, a UK management consultancy that delivers
complex business change for financial services firms to enhance agility, improve efficiency, and bolster competitiveness.
Headquartered in London, BCS Consulting’s 250 strong team joins Accenture’s UK Financial Services Strategy and Consulting
practice. Terms of the transaction were not disclosed.

(10/28/2021)

Products and Services

Accenture is using a proprietary database powered by
artificial intelligence (AI) to help Colonial Pipeline, the largest refined products pipeline in
the United States, reduce regulated and deregulated electric utility rates for its interstate
pipeline system. Accenture’s Utility Tracking System (UTS) evaluates power bills for operations
at approximately 80 Colonial Pipeline pump stations along its 5,500-mile pipeline system, which
delivers approximately 100 million gallons of refined petroleum products daily to markets in the
Southern and Eastern United States. Armed with information about tariff options, Accenture presents
lower-cost options – e.g., reduced cost per kilowatt-hour – to Colonial, and then works with
utilities to help implement new rates.

(07/14/2022)

Accenture announced a new worldwide practice to help organizations take advantage
of disruptive new technologies in the cloud utilizing trusted frameworks, services and controls. The new Accenture Cloud First
Sovereign Practice includes four new sovereign cloud centers in Kronberg, Germany; Trondheim, Norway; Paris and Rome. Located
within Accenture Innovation Hubs, these centers bring Accenture industry, security, and technology specialists together in
collaboration with ecosystem partners to accelerate the digitization of business processes and to expose new data collaboration
opportunities. Sovereign cloud is an approach that allows organizations to control the location, access to, and processing of
their data in a cloud environment in response to new, emerging industry standards and compliance requirements in specific countries
or sectors. From the new sovereign cloud centers in Europe, clients can see live industry examples and develop a blueprint to
proactively address and solve their sovereign cloud requirements with dedicated support from Accenture Cloud First specialists
in change management, security skills, and business process experience, as well as providing a place to collaborate with partners
across the cloud ecosystem.

(04/14/2022)

Duke Energy is working with Accenture and Microsoft on the development of a new
technology platform designed to measure actual baseline methane emissions from natural gas distribution systems. The unique
platform will provide near-real time data collection, allowing Duke Energy’s field response teams to more rapidly identify
and repair methane leaks. The cloud-hosted platform will track and prioritize data associated with leaks using advanced detection
methods such as satellites, fixed-wing aircraft, and ground-level sensing technology. The new sensor technology can detect trace-
levels of methane emissions that current technology may not identify. The new platform will augment the company’s drive toward
net-zero methane emissions in its natural gas business by 2030.

(08/23/2021)

Alliances and Joint Ventures

Hero MotoCorp Ltd., the world’s largest manufacturer of motorcycles and scooters, has selected
Accenture to scale up and enhance its future-ready supply chain.
The program will include supply chain strategy, planning optimization, logistics cost optimization and
development of an end-to-end digital supply chain suite, in order for Hero MotoCorp to manage increasing
complexity in products, markets, and supply chain networks, while driving cost reduction in an inflationary
environment.
(07/27/2022)

Accenture has made a strategic investment, through its Accenture
Ventures unit, in pulsESG, Inc., a public benefit corporation dedicated to empowering purpose-driven enterprises
to manage and improve their environmental, social, and governance (ESG) footprint. Backed by $10 million in earlier
seed funding from other leading impact-driven investors, pulsESG is the latest company to join Accenture Ventures’
Project Spotlight, an engagement and early investment program that connects emerging technology software startups
with the Global 2000 to fill strategic innovation gaps.

(07/25/2022)

Accenture Federal Services (AFS), a subsidiary of Accenture, has been
awarded a 10-year, $199 million contract from the US Department of Homeland Security’s Transportation Security
Administration (TSA) to provide a wide range of IT services in support of TSA’s Secure Flight System. Secure Flight
is a risk-based, prescreening program that enhances security by matching passenger names against trusted traveler
lists and government watchlists. Under the Secure Flight Systems IT Services contract, which runs for one base and
nine option years, AFS will provide IT services to engineer, test, and sustain the Secure Flight system. Ultimately
the goal is to transition the passenger screening system from its current architecture to open-source technologies
to reduce operating costs for the program while enhancing security and maintaining its commitment to passenger privacy
rights.

(07/12/2022)

Accenture and Johnson Controls are collaborating to deliver and operate two
new OpenBlue Innovation Centers. The centers will drive Johnson Controls’ rollout of building control system products
and services using technologies such as artificial intelligence (AI), digital twins, internet of things (IoT), 5G and
the cloud. The goal is to accelerate advanced automation in building operations to achieve greater sustainability,
safety, security and user experiences.

(06/23/2022)

HDFC Ltd., India’s largest housing finance company, has collaborated with Accenture
to digitally transform its lending business. The collaboration, which is powered by cloud-native applications, machine learning,
automation, and advanced analytics, will revamp HDFC’s customer experience and business processes to provide greater operational
agility and efficiency, and drive business growth. A key element of the program is a cloud-native lending platform with digital
workflows for every step of the customer journey including application, loan processing, credit underwriting and decisioning,
disbursement, and loan servicing. The platform includes a user-friendly mobile application and web-based portal for customers
to reduce onboarding time and offer real-time visibility into home loan application status and other related service requests.

(06/02/2022)

Accenture Federal Services (AFS), has won a $175 million
multi-award IDIQ contract to perform crowdsourcing and other crowd-based solution delivery initiatives for the National Aeronautics
and Space Administration (NASA). Through NASA’s Open Innovation Services 2 contract (NOIS2), the agency has been highly successful
at scaling crowd-based solutions to meet project delivery goals within NASA and among other federal agencies. Under the NOIS2 contract,
AFS will support the agency in tapping into additional methodologies and engaging new partners to scale NASA’s innovative crowdsourcing
capabilities.

(05/11/2022)

Red Hat and Accenture have expanded their nearly 12 year strategic partnership to further
power open hybrid cloud innovation for enterprises worldwide. The companies are jointly investing in the co-development of new solutions
to help organizations more seamlessly navigate a multi- and hybrid cloud world, define their strategy, and accelerate their pace of
innovation. The two firms are co-developing new solutions over the next year with an initial focus on four areas: Open hybrid cloud
application and mainframe modernization, automation, edge computing, and
sovereign cloud.

(05/09/2022)

Accenture has made a strategic investment, through Accenture Ventures, in Titan Space
Technologies, an orbital compute platform that offers real-time monitoring and neural engine capabilities to accelerate the next
generation of scientific technology innovations for enterprises, such as adaptive immune response, carbon capture, and biomedical
applications. As part of Axiom Space’s Ax-1 mission, Titan successfully deployed and ran its first suite of machine learning models
on HPE’s Spaceborne Computer-2 aboard the International Space Station (ISS). Titan is the latest company to join Accenture Ventures’
Project Spotlight, an engagement and investment program focused on investing in companies that create or apply disruptive enterprise
technologies. In addition to funding, Project Spotlight connects emerging technology software startups with the Global 2000 to fill
strategic innovation gaps, and offers extensive access to Accenture’s domain expertise and enterprise clients.

(04/06/2022)

Accenture‘s latest strategic investment focuses on World Wide Web developer Sir Tim
Berners-Lee’s Inrupt. Inrupt is an enterprise software company focused on putting online personal data back in the power of users
while also reinventing how businesses and governments manage digital data. The company’s Enterprise Solid Server platform, which is
based on Berners-Lee’s open-source web technology Solid, enables businesses and governments to offer consumers and citizens personal
data vaults — which bring together and store data from multiple, disconnected sources in a Web standard format and allow individuals
to decide which data to share across applications and services.

(03/29/2022)

Accenture Federal Services (AFS) has won a five-year, $118
million US Department of State contract to deliver data management support for the agency’s Bureau of Consular Affairs. Specifically,
AFS will support the agency with fraud reduction and data replication services associated with passports and visas. Additionally,
AFS will provide data engineering support for a State Department database that serves as a hub for information flow between other
branches of the US Government to support homeland security.

(03/21/2022)

Crelan Bank has selected Accenture to lead its post-merger integration
with AXA Bank Belgium, which Crelan acquired in December. The acquisition of was part of a larger, customer-centric
transformation at Crelan, whose “proximity counts” strategy focuses on offering customers the full range of financial
services through local teams in the customers’ communities. Accenture will help Crelan integrate AXA Bank Belgium in
a large-scale transformation program spanning over 100 initiatives including digital and mobile, change management,
banking products and services, and IT capabilities. The goal is a seamless transition for employees, customers, and
the distribution network.

(02/23/2022)

The Central Bank of the UAE (CBUAE) has chosen Accenture to lead a consortium
of companies to help execute its National Payment Systems Strategy. In collaboration with SIA, now part of Nexi Group, and
G42, Accenture will build and operate the National Instant Payment Platform (IPP) over the next five years. The new platform
lays the groundwork for transforming the financial services ecosystem in the UAE. The scope of the consortium’s work includes
migrating existing payment systems, operating the target financial market infrastructure, and providing the data center
infrastructure. The consortium will also be responsible for delivering many overlay services such as overhauling current
platforms, systems, and two active cloud-data centers and related infrastructure; delivering new capabilities such as e-checks
to digitalize check-based payments; and a payments application to accelerate adoption.

(02/02/2022)

Accenture Federal Services (AFS) has won a $73 million
contract from the Internal Revenue Service (IRS) to support the agency in operating and maintaining an automated identity theft
and fraud detection system. Under the five-year contract, AFS is supporting the IRS Return Review Program (RRP) with innovative
technologies and advanced analytics to verify taxpayer income, detect taxpayer fraud, and ensure compliance with tax law.

(01/31/2022)

Novetta, an advanced analytics company acquired in August 2021 by Accenture Federal Services
(AFS), has entered into a first-of-its-kind agreement
to commercialize Platform One, the US Air Force’s (USAF) software development platform. Specifically, the two-year deal
allows Novetta to resell and support the platform’s Iron Bank and Big Bang products, thus expanding the Platform One footprint
across federal government and industry partners alike. The company, along with its partners Fearless and Spathe Systems, will
tailor and deploy both Big Bang (Infrastructure-as-Code and Configuration-as-Code) and Iron Bank (container registry) products
for government customers and commercial software vendors alike. The USAF will focus on the baseline and governance of the
Platform One environment.

(01/13/2022)

Accenture Federal Services (AFS) has been awarded a seven-year,
$87 million contract by the US Patent and Trademark Office (USPTO), the federal agency responsible for granting US patents and
registering trademarks. Working with the Office of the Chief Information Officer (OCIO), AFS will support and enhance the Trademark
Product Line (TMPL), which manages the entire trademark lifecycle from filing to registration, including attorney examination and
adjudication. As the prime systems integrator, AFS will modernize critical applications and create a DevSecOps infrastructure, while
incorporating cloud, cyber, and automation capabilities.

(12/28/2021)

Accenture and Icertis announced a strategic partnership that brings together Accenture’s
digital transformation capabilities with leading contract intelligence technology from Icertis to help clients across industries get
greater visibility into their contracts as well as manage risk and the contracting process more efficiently and effectively. The
aim is to help clients accelerate the migration of contracting to the cloud and use artificial intelligence to speed up the
process, track compliance, monitor enterprise-wide risks, reduce costs, and improve business outcomes. The partnership builds on the
success of Accenture’s own use of Icertis Contract Intelligence (ICI) across its global legal and procurement operations to negotiate
and execute thousands of highly customized, multi-lingual legal documents every month.

(11/18/2021)

Accenture Federal Services (AFS) has been awarded a $618 million
cost plus award fee task order to enhance and modernize the United States Marshals Service’s (USMS) mission-critical IT systems. The
USMS supports the federal justice system with protecting the federal judiciary, apprehending federal fugitives, transporting federal
prisoners, and other law enforcement duties. Under the seven-year task order, AFS will build on a previous five-year USMS task order
for program management and IT application development services. The scope of the work includes a continuation of case management
modernization along with expanded advanced analytics, mobile application development, cloud, biometrics, and geospatial capabilities.
The comprehensive, integrated technology effort supports the agency in continuing to roll out emerging technologies, such as automation,
with the goal of retiring outdated legacy systems, enhancing security, and reducing costs.

(11/10/2021)

Personnel and Organizational

Accenture has named Leo Framil as chief executive officer – Growth Markets, effective
September 1, 2022, succeeding Gianfranco Casati, who will become chairman – Growth Markets. In his new role, Framil will have
management responsibility for all industries and services across Accenture’s business in Asia Pacific, Africa, the Middle East and
Latin America. Framil previously served as market unit lead for Latin America and has more than 30 years of consulting experience,
working with major financial institutions in Latin America in banking, insurance and capital markets. Casati, who has led Accenture’s
Growth Markets since 2014, is stepping down as chief executive officer and member of the Global Management Committee as of September
1. He will become chairman – Growth Markets, continuing to serve clients and working closely with account teams.

(07/14/2022)

Accenture has appointed Jack Azagury as group chief executive
–
Strategy & Consulting, effective immediately. Azagury will lead the $15 billion unit, which includes Accenture’s
industry, enterprise functions, applied intelligence, innovation, and corporate strategy practices. A 26-year
veteran with the company, Azagury most recently was Accenture’s Market Unit Lead – US Northeast, and before that
led the company’s Resources business in North America. Azagury also served as the global lead for Accenture’s Smart
Grid Services business and led Accenture’s Strategy and Management Consulting practice for North America Resources.
Annette Rippert, who has served as group chief executive – Strategy & Consulting since 2020, will retire after 28
years of service with the firm.

(06/02/2022)

Accenture announced that Accenture Interactive will now go to market as
Accenture Song. The move reflects the company’s post-pandemic services to reinvent connections, sales, commerce and
marketing, and business innovation to meet clients’ accelerated demand for business growth through sustained customer
relevance. Building on Accenture’s longstanding culture of change, the name Accenture Song conveys “an enduring and
universal form of human craft, connection, inspiration, technical prowess and experience — unleashing the imagination
and ideas of its people to deliver tangible results.”

(04/26/2022)

Paolo Dal Cin has been named as the global head of Accenture Security,
effective May 1, 2022. Dal Cin joined Accenture in 2003 and most recently led the Security business in Europe.
Previously, he led and built Accenture’s cybersecurity business in Italy, central Europe, Greece, Latin America
and the Middle East. In addition, he brings more than 20 years of experience working with clients across multiple
industries such as telecommunications, media, financial services, utilities, and the public sector, specializing
in cybersecurity strategy, business resilience, cyber defense, cloud protection, incident response, and managed
security services.

(04/19/2022)

Accenture issued a statement saying it stands with the people of Ukraine
and the governments, companies, and individuals around the world calling for the immediate end to “the unlawful and
horrific attack on the people of Ukraine and their freedom.” As a response, the company is discontinuing its business
in Russia. While Accenture does not have a business in Ukraine, the firm announced it will continue efforts to help
its Ukrainian colleagues working around the globe and their extended families. “We are providing telehealth for those
in Ukraine, and helping resettle family members who leave Ukraine,” the statement read. In addition, the company is
donating $5 million to nonprofit relief organizations working to help people in Ukraine and those who are being displaced
into Poland, Romania, Slovakia, Hungary, and the Czech Republic, as well as matching 100 percent of the donations made
by employees.

(03/03/2022)

Accenture has hired James Nunn-Price as a senior managing director to lead its
Growth Markets Security business — which spans cyber defense, applied cybersecurity solutions, and managed security
services — across Africa, Australia & New Zealand, Greater China, India, Japan, Latin America, the Middle East and Southeast
Asia. He will join a global practice of more than 8,000 cybersecurity professionals and report to Kelly Bissell, Accenture’s
global lead for Security. Nunn-Price has more than 20 years of experience in cybersecurity, including in cyber incident response,
managed security services and cyber transformation programs. He joins Accenture from Deloitte, where he was a partner and most
recently led the company’s cyber and strategic risk practice across the Asia-Pacific region.

(10/14/2021)

Accenture has appointed acclaimed creative icon David Droga, founder and chairman of
Droga5, as Accenture Interactive’s new CEO and creative chairman, effective September 1, 2021. Droga is best known as the founder
of advertising firm Droga5 (acquired by Accenture in 2019), which was most recently named Agency of the Decade by both Adweek and
AdAge. Prior to founding Droga5, Droga was the first-ever Worldwide Chief Creative Officer of the Publicis Network and held key
creative leadership roles across agencies in the UK, Asia, and Australia.

(08/19/2021)

Financials

Accenture reported financial results for the third quarter of fiscal 2022
with revenues of $16.2 billion, an increase of 22 percent over the $13.26 billion for the third quarter of fiscal 2021.
New bookings for the third quarter were $17.0 billion, an increase of 10 percent from the comparable 2021 quarter.
Consulting new bookings were $9.1 billion while Outsourcing new bookings were $7.8 billion. Revenues by geographic market
had North America at $7.61 billion (an increase of 23 percent compared with the third quarter of fiscal 2021), Europe at
$5.35 billion (an increase of 20 percent), and Growth Markets at $3.19 billion (up 22 percent). The company expects revenues
for the fourth quarter to be in the range of $15.0 billion to $15.5 billion, or 20 to 24 percent growth.

(06/23/2022)

Accenture‘s financial results for the 2022 second quarter ending February 28
showed revenues of $15.0 billion, an increase of 24 percent over the same period last year, and approximately $300 million
above the top end of the company’s guided range. New bookings were a record $19.6 billion with highs in both Consulting
($10.9 billion) and Outsourcing ($8.7 billion). Each industry segment also saw significant double-digit growth: Communications,
Media & Technology: $3.19 billion (an increase of 29 percent compared with the year ago quarter), Financial Services brought
in $2.87 billion (21 percent growth), Health & Public Services up $2.69 billion (19 percent), Products at $4.33 billion (30
percent), and Resources were $1.97 billion (21 percent).

(03/17/2022)

Accenture reported financial results for the first quarter of fiscal 2022, ended
November 30, 2021, with revenue stated at $14.97 billion compared with $11.76 billion for the first quarter of fiscal 2021,
an increase of 27 percent. This figure was more than $600 million above the company’s guided range of $13.90 billion to $14.35
billion. Consulting revenues for the quarter were $8.39 billion, an increase of 33 percent over the year ago quarter, while
Outsourcing revenues were $6.57 billion, up 21 percent from the comparable period. Net income for the quarter was $1.82 billion,
compared with $1.52 billion for FY2021Q1. Excluding after-tax investment gains of $97 million, net income for the first quarter
of fiscal 2021 was $1.43 billion.

(12/16/2021)

Accenture reported financial results for the fourth quarter and full 2021 fiscal year,
showing healthy growth for both periods. For the fourth quarter, revenues were $13.4 billion, an increase of 24 percent, while for
the full year, revenues were $50.5 billion, an increase of 14 percent. Revenues by geographic market for the year showed North
America responsible for $23.70 billion (an increase of 13 percent compared with FY2020), Europe at $16.75 billion (up 16 percent
over the previous year), and Growth Markets reporting $10.08 billion (13 percent better). By industry group, Communications, Media
& Technology accounted for $10.29 billion (a 16 percent increase compared with fiscal 2020), Financial Services at $9.93 billion
(17 percent better), Health & Public Service at $9.50 billion (up 18 percent), Products at $13.95 billion (up 14 percent), and
Resources reported $6.86 billion (an increase of four percent compared with fiscal 2020).

(09/23/2021)

 

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