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Accenture Expands Presence With 3rd Innovation Hub in India

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Accenture plc ACN yesterday opened an innovation hub in Pune, India. The company and its clients will work together across a diverse set of advanced technologies (like extended reality, artificial intelligence, the internet of things, blockchain and quantum computing) in multiple industries.

Situated in SP Infocity in Pune, the innovation hub features Accenture’s second Nano Lab in the Asia-Pacific region. The Nano Lab will advertise the recent developments in applied research from Accenture Labs all over the world and help clients stay connected with the researchers of these labs through immersive sessions and workshops.

The hub is focused on helping clients create new customer experiences using digital technologies to address the increasing complexity of brand-customer interaction, and accelerate innovation outcomes and recast business models with the help of Industry X.0 framework and resources. The hub will accommodate more than 1,200 people.

This is the third addition to Accenture’s network of innovation hubs in India, after Bengaluru and Hyderabad.

Bhaskar Ghosh, group chief executive at Accenture Technology Services, stated, "Our new Innovation Hub in Pune will bring together the best of Accenture’s technology and innovation capabilities from around the world, enable our clients to scale their technology investments and boost their business outcomes across the enterprise, and create new opportunities for local talent."

Accenture innovation hubs are an essential part of Accenture Innovation Architecture. Apart from India, the company has innovation hubs in Recife and Sao Paulo, Brazil; Toronto, Canada; Shenzhen, China; Helsinki, Finland; Tokyo, Japan; Zurich, Switzerland; Perth, Australia; Singapore. These apart, it has 11 innovation hubs in the United States, including Atlanta, Boston, Chicago, Detroit, Houston, New York, San Francisco, Seattle and Washington, D.C.

Zacks Rank & Stocks to Consider

Currently, Accenture carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the broader Zacks Business Services sector are Interpublic IPG, Omnicom OMC and Genpact G, each carrying a Zacks Rank #2 (Buy).  You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Long-term expected EPS (three to five years) growth rate for Interpublic, Omnicom and Genpact is 4.5%, 5.6% and 11.9%, respectively.

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