Company Summary
Years of investment in digital, cloud and security strategy has helped Accenture evolve as a trusted and viable consulting services provider. It is currently one of the top consultancy firms of the world by revenues that increased 4% in fiscal 2023 with a contribution of 52% from consulting services.
The company has spent decades establishing itself as a trusted advisor, continuously adjusting its business mix to take advantage of changing market conditions. It has extensive relationships with World's leading companies. Currently, Accenture’s clients comprise 92 of the Fortune Global 100 and more than three-quarters of the Fortune Global 500. Ability to anticipate large, transformative technology trends and capitalize on them through mergers and acquisitions are keys to the company’s success.
Accenture reports under five segments, which are discussed below:
Communications, Media & Technology (18% of FY23 revenues): Offers services to communications, electronics, high technology, media and entertainment industries.
Financial Services (19%): Offers services to banking, capital markets and insurance industries. The segment enables clients to address growth, cost and profitability pressures, industry consolidation and regulatory changes.
Health & Public Service (19%): Offers services to the healthcare providers, government agencies, public service organizations, educational institutions and non-profit organizations.
Products (30%): Offers services to the companies which belong to Air, Freight & Travel Services, Automotive, Consumer Goods & Services, Industrial Equipment, Infrastructure & Transportation Services, Life Sciences and Retail industries.
Resources (14%): Offers services to the companies which belong to chemicals, forest products, energy, metals and mining, utilities and related industries. The segment helps clients manage complex change initiatives and integrate digital technologies.
On the basis of nature of work, the company derives its revenues by providing Managed Services (48% of FY23 revenues) and Consulting services (52%) . Geographically, 47% of total FY23 revenues were generated in North America, 33% in Europe and 20% from Growth Markets.