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Accenture Unveils New Platform, Boosts Digital Transformation

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Accenture plc (ACN - Free Report) yesterday announced the launch of Intelligent Enterprise Platform, which is digitally integrated. The latest move is aimed at streamlining enterprise transformation from business case to roadmap to delivery.

The platform connects with SAP Model Company, SAP Value Assurance service packages, SAP Cloud Platform and the SAP Leonardo digital innovation system to provide joint customers roadmap.

The platform will be offered to more than 120 clients at the Accenture SAP Leadership Council, scheduled on Apr 15-17 in Los Angeles, CA and showcased at SAPPHIRE NOW, to be held on Jun 5-7 in Orlando, FL.

Accenture Looks to Boost Digital Transformation & Cloud Suite

Accenture claims the platform as its latest example of New IT and will help to enhance its clients’ IT environments.

According to the latest forecast by Gartner (IT), worldwide IT spending is expected to grow 6.2% to $3.7 trillion in 2018, which will mark the highest annual growth rate since 2007. The research firm expects enterprise software spending to experience maximum growth in 2018, with an 11.1% increase. As a result, Accenture seems well-positioned to take advantage of projected growth.

Further, working with SAP Cloud Platform is likely to boost Accenture’s strategy of enhancing its cloud capabilities. We believe that the company’s efforts to enhance its cloud suite through and partnerships are steps in the right direction, evident from the recent forecast by several independent research firms. Gartner predicts that the public cloud services market will witness a compounded annual growth rate (CAGR) of 16.3% during the 2016–2019 period, reaching $383.4 billion by the end of 2020.

Considering the growing need for cloud-based applications and software, we expect Accenture’s investments in this space to propel long-term growth.

Zacks Rank & Price Performance

Currently, Accenture is a Zacks Rank #3 (Hold) stock. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

A glimpse of the company’s price trend reveals that the stock has had an impressive run on the bourse on a year-over-year basis. Shares of Accenture havesoared 29.2%, which compared favorably with the S&P 500 Index’s and the industry’s gain of 13.8% and 24.9%, respectively.

 

Stocks to Consider

A few better-ranked stocks in the broader Business Services sector include CRA International , FTI Consulting (FCN - Free Report) and NV5 Global (NVEE - Free Report) . All the stocks sport a Zacks Rank #1.

Earnings for CRA International, FTI Consulting and NV5 Global are estimated to rise 51.5%, 91.2% and 28.2%, respectively, for the current quarter.

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