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Per the contract terms, Accenture will develop advanced applications for smooth operational tasks involving risk management, treasury, human resources and procurement management. Also, the company will supervise the existing applications.
The scope of the agreement also requires Accenture to carry on the task of supporting Nordea’s Basel II compliance reporting system. This Basel II agreement was inked some time back and has now been extended.
Apart from this, Accenture’s service was selected by India’s Department of Electronics & Information Technology (DeitY). Per the contract, Accenture will develop a program whereby the government agency could compare details of technology providers and investors vying to develop a semiconductor facility in India. Through the help of the tailor-made system, the agency will be able to choose the best firm for handling the task.
Last week, District of Columbia opted for Accenture’s support to meet its health care reform deadlines.
Accenture’s comprehensive service offerings have made it one of the key IT service providers. A large product and service base has also lent the company a leading edge in the competitive market. Accenture has regularly won deals from all industrial sectors as well as the federal vertical.
Though Accenture’s deal prospects look bright, its large number of government deals (which carry low margins), stiff competition from IBM Corp. ( IBM - Analyst Report ) and significant European exposure may temper its growth going forward.
Currently, Accenture has a short-term Hold rating, denoted by the Zacks #3 Rank.
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