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Accenture (ACN) to Help Accelerate Halliburton's Digitalization

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Accenture plc (ACN - Free Report) and Halliburton (HAL - Free Report) have recently announced a collaboration aimed at helping the latter’s digital supply chain transformation and digitalization within its manufacturing function.

Halliburton is slated to launch a global hub-and-spoke supply chain and manufacturing service model next year.

The partnership builds on the five-year strategic agreement made by Halliburton with Accenture and Microsoft (MSFT - Free Report) in July.

Collaboration Details

As part of the team-up, the duo will work together to develop real-time supply chain visibility and actionable insights utilizing artificial intelligence and analytics. They will focus on deployment of scalable technology to automate procurement processes, enable touch-less invoicing and enhance data accuracy.  They will also work to improve process efficiencies and productivity to boost strategic activities and reduce incremental cost.

Accenture will provide support teams with advanced analytics and business intelligence tools to support the initiatives. Accenture will use its SynOps platform to make progress in the transformation.

Our Take

The collaboration is just another example of how energy operators are joining forces with tech firms to advance their digital capabilities. Recently, BP and Microsoft became strategic partners with a view to advance digital transformation in energy systems and work on net-zero carbon goals of both companies. Also, Schlumberger, International Business Machines (IBM - Free Report) and Red Hat have collaborated recently to speed up digital transformation.

Notably, Accenture and Halliburton shares have gained a respective 23.1% and 36.6% over the past six months.

 

Both the stocks carry a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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