|Andersen Consulting (January 1, 2001)|
|Traded as||NYSE: ACN (Class A)|
S&P 100 component
S&P 500 component
|Revenue||US$41.60 billion (2018)|
|US$5.84 billion (2018)|
|US$4.06 billion (2018)|
|Total assets||US$24.45 billion (2018)|
|Total equity||US$10.36 billion (2018)|
Number of employees
Accenture plc is a multinational professional services company that provides services in strategy, consulting, digital, technology and operations. A Fortune Global 500 company, it has been incorporated in Dublin, Ireland, since 1 September 2009. In 2018, the company reported net revenues of $39.6 billion, with more than 459,000 employees serving clients in more than 200 cities in 120 countries. In 2015, the company had about 150,000 employees in India, about 48,000 in the US, and about 50,000 in the Philippines. Accenture's current clients include 95 of the Fortune Global 100 and more than three-quarters of the Fortune Global 500.
Formation and early years
Accenture began as the business and technology consulting division of accounting firm Arthur Andersen in the early 1950s when it conducted a feasibility study for General Electric to install a computer at Appliance Park in Louisville, Kentucky, which led to GE's installation of a UNIVAC I computer and printer, believed to be the first commercial use of a computer in the U.S. Joseph Glickauf, an early pioneer of computer consulting, held a position as head of Arthur Andersen's administrative services division.
Split from Arthur Andersen
In 1989, Arthur Andersen and Andersen Consulting became separate units of Andersen Worldwide Société Coopérative (AWSC). Throughout the 1990s, there was increasing tension between Andersen Consulting and Arthur Andersen. Andersen Consulting was paying Arthur Andersen up to 15% of its profits each year (a provision of the 1989 split was that the more profitable unit – whether AA or AC – pay the other the 15 percent), while at the same time Arthur Andersen was competing with Andersen Consulting through its own newly established business consulting service line called Arthur Andersen Business Consulting (AABC). This dispute came to a head in 1998 when Andersen Consulting put the 15% transfer payment for that year and future years into escrow and issued a claim for breach of contract against AWSC and Arthur Andersen. In August 2000, as a result of the conclusion of arbitration with the International Chamber of Commerce, Andersen Consulting broke all contractual ties with AWSC and Arthur Andersen. As part of the arbitration settlement, Andersen Consulting paid the sum held in escrow (then $1.2 billion) to Arthur Andersen, and was required to change its name, resulting in the entity being renamed Accenture.
Emergence of Accenture
On 1 January 2001, Andersen Consulting adopted its current name, "Accenture". The word "Accenture" is derived from "Accent on the future". The name "Accenture" was submitted by Kim Petersen, a Danish employee from the company's Oslo, Norway office, as a result of an internal competition. Andersen felt that the name should represent its will to be a global consulting leader and high performer, and also intended that the name should not be offensive in any country in which Accenture operates.
On 19 July 2001, Accenture's initial public offering (IPO) was priced at $14.50 per share, and the shares began trading on the New York Stock Exchange (NYSE); Goldman Sachs and Morgan Stanley served as its lead underwriters. Accenture stock closed the day at $15.17, with the day's high at $15.25. On the first day of the IPO, Accenture raised nearly $1.7 billion.
In October 2002, the Congressional General Accounting Office (GAO) identified Accenture as one of four publicly traded federal contractors that were incorporated in a tax haven. The other three, unlike Accenture, were incorporated in the United States before they re-incorporated in a tax haven, thereby lowering their US taxes. Critics, most notably former CNN journalist Lou Dobbs, have reported Accenture's decision to incorporate in Bermuda as a US tax avoidance ploy, because they viewed Accenture as having been a US-based company. The GAO itself did not characterize Accenture as having been a US-based company; it stated that "prior to incorporating in Bermuda, Accenture was operating as a series of related partnerships and corporations under the control of its partners through the mechanism of contracts with a Swiss coordinating entity."
Accenture engaged in an IT overhaul project for the National Health Service (NHS) in 2003, making headlines when it withdrew from the contract in 2006 over disputes related to delays and cost overruns. The government of the United Kingdom ultimately abandoned the project five years later for the same reasons.
Accenture was chosen to replace CGI Group as the lead contractor for HealthCare.gov in January 2014. In December 2014, Accenture won a $563 million contract to provide ongoing maintenance, software development and technology support for HealthCare.gov through 2019.
In July 2015, the United States Department of Defense awarded a major Electronic Health Records contract to Cerner, Leidos and Accenture. The contract valued $4.33 billion will serve 55 hospitals and 600 clinics. Accenture Federal Services and Leidos will play the role of configuration specialist, while Cerner is the prime contractor.
In June 2018, Accenture generated controversy over the amount the firm has been charging to recruit 7,500 Customs and Border Protection officers. Under the $297 million contract, Accenture had been charging the US Government nearly $40,000 per hire, which is more than the annual salary of the average officer. According to a report published by the DHS Office of Inspector General in December 2018, Accenture had been paid $13.6M through the first ten months of the contract. They had hired two agents against a contract goal of 7,500 hires over 5 years. The report was issued as a 'management alert', indicating an issue requiring immediate attention, stating that "Accenture has already taken longer to deploy and delivered less capability than promised".
For the fiscal year 2018, Accenture reported earnings of US$4.060 billion, with an annual revenue of US$41.603 billion, an increase of 13.2% over the previous fiscal cycle. Accenture's shares traded at over $159 per share, and its market capitalization was valued at over US$104.2 billion in October 2018.
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Services and operations
- Accenture Strategy provides business strategy, technology strategy and operations strategy services.
- Accenture Consulting provides technology, business and management consulting.
- Accenture Digital provides digital marketing, analytics and mobility services.
- Accenture Technology focuses on technology solutions, implementation, delivery, and research & development, including its Technology Labs for emerging technologies.
- Accenture Operations focuses on an "as-a-service" model of service delivery. This includes business process outsourcing, IT services, cloud services, managed operations, security and infrastructure services.
Marketing, branding and identity
In 2011, Accenture launched a new campaign of results-based ads featuring clients such as Marriott, Unilever and the Royal Shakespeare Company alongside its slogan “High performance. Delivered”. As of 2018, Interbrand ranked Accenture No. 34 on its list of best global brands. The brand consultancy noted Accenture's focus on branding and marketing of its Accenture Strategy, Accenture Consulting, Accenture Digital, Accenture Technology and Accenture Operations divisions.
From at least 2005 until December 2009, Accenture used Tiger Woods as a celebrity spokesperson and advertised using the service mark "Go on, be a Tiger" and the ancillary statement "We know what it takes to be a Tiger" in association with his image. On 13 December 2009 after details of Woods' extra-marital affairs were exposed, the company terminated Woods' six-year sponsorship deal.
Accenture has implemented policies to reduce gendered discrimination such as gender neutral bathrooms and gender neutral dress-codes. Denise Norris, a transgender activist and Accenture employee, said “In cultures that don’t embrace gender diversity, Accenture’s workplace can become a haven, a safe space for our transgender employees.”
- In 2016, Accenture was ranked No. 289 on the Forbes Global 2000 list.
- In 2016, Accenture was ranked No. 312 on the Fortune Global 500 list.
- In 2016, the firm was named 15th in the Top 50 Companies for Diversity by DiversityInc.
- In 2017, Accenture was ranked No. 272 on the Forbes Global 2000 list.
- In 2017, Accenture was ranked No. 305 on the Fortune Global 500 list.
- In 2017, the firm was named 14th in the Top 50 Companies for Diversity by DiversityInc.
- Accenture is one of 12 best management consulting firms of 2017 in America according to Forbes.
- In 2018, Fortune magazine named it as the world's most admired Information Technology Services company.
- In 2018, the Ethisphere Institute named Accenture one of the world's most ethical companies for the 11th time
- Fortune named Accenture one of the 100 Best Companies to Work For from 2009 to 2018
- CR Magazine named Accenture No. 2 in its top 100 Best Corporate Citizens list for 2018
- In 2018, Accenture was ranked No. 288 on the Forbes Global 2000 list.
- In 2018, Accenture was ranked No. 316 on the Fortune Global 500 list.
- In 2018, the firm was named 9th in the Top 50 Companies for Diversity by DiversityInc.
- In 2019, Fortune magazine named it as the world's most admired Information Technology Services company.
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- Becker's Healthcare
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