Accenture acquires Xoomworks to enhance its sourcing and digital transformation capabilities in Europe
LONDON–(COMMERCIAL THREAD) – Accenture (NYSE: ACN) acquired Xoomworks Group, a consulting and technology company specializing in procurement technologies, digital innovation and software solution development. The acquisition will expand Accenture’s capabilities to help customers accelerate technology-driven business and purchasing transformation. Terms of the transaction were not disclosed.
Founded in 2000, Xoomworks operates two distinct businesses: Xoomworks Procurement, a specialist consulting firm focused on sourcing and procurement transformation, and Xoomworks Technology, a software development firm that partners with clients from all industries. to help them innovate quickly and scale digital solutions that create value. and solve complex business problems. Based in London, Xoomworks’ team of more than 250 professionals join Accenture through operations in the UK, France, Germany, Romania, Bulgaria, Denmark and Sweden.
Xoomworks Procurement provides proprietary methodologies and solutions for full purchasing lifecycle implementation, data-driven spend management, and change management. The addition of Xoomworks Procurement strengthens Accenture’s closed-loop spend management capabilities, which help clients perform end-to-end transformations that provide unprecedented visibility into direct and indirect cost categories and drive new ways of working to generate sustainable cost savings and added value. Xoomworks shares close relationships with Accenture ecosystem partners including SAP Ariba, Coupa and Jaggaer.
âNow more than ever, companies need to take a more proactive approach to managing third-party spend that positions them for sustainable growth and prepares them for the future,â said Pierre-FranÃ§ois Kaltenbach, Senior Managing Director at within Accenture’s Supply Chain & Operations group. . âWe are thrilled to welcome Xoomworks to our team and join our mission to help customers transform their sourcing capabilities to accelerate innovation and drive breakthrough value, while also answering the call for a more business. responsible. ”
Xoomworks Technology has extensive experience in custom software development, UX and mobile, data engineering, product innovation, and cloud integrations. With a solid reputation for problem solving, Xoomworks Technology offers a carefully crafted delivery approach designed to create value, drive innovation and drive business results, which has translated into customer relationships. sustainable strategies.
Jan Van Den Bremen, Senior Managing Director and Head of Smart Platform Services Europe at Accenture, said: âSmart platforms and ecosystem partners play a central role in bringing together core capabilities necessary to run a modern business and take advantage of new business models. With the addition of Xoomworks, we are developing our deep technological expertise to help further accelerate value creation for our clients. ”
Malcolm Clark, Group Co-Founder and CEO, Xoomworks, added: âWhen we founded Xoomworks 21 years ago, we set out to create technology solutions to solve specific business problems and deliver high performance results in focusing on training deep clients. relationships built on trust. This is exactly what we did. I am immensely proud of our people, our accomplishments and our collaborative, values-based approach. The world has changed dramatically over the past two decades; by combining our experience, capabilities and expertise and with a shared vision for the future, we know we can make an even greater impact within Accenture. ”
Accenture is a global professional services company with industry-leading digital, cloud and security capabilities. Combining unparalleled experience and specialized skills in more than 40 industries, we offer strategy and advisory, interactive, technological and operational services, all powered by the world’s largest network of advanced technology and intelligent operations centers. Our 624,000 employees deliver on the promise of technology and human ingenuity every day, serving customers in more than 120 countries. We embrace the power of change to create value and shared success for our customers, employees, shareholders, partners and communities. Visit us at www.accenture.com.
Except for historical information and discussions contained herein, statements contained in this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “may”, “Will”, “should”, “probable”, “anticipates”, “expects”, “intends”, “foresees”, “projects”, “believes”, “estimates”, “positioned” , “Outlook” and similar expressions are used to identify these forward-looking statements. These statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied. These risks include, but are not limited to, the risks that: the transaction does not provide the expected benefits for Accenture; The COVID-19 pandemic has impacted Accenture’s business and operations, and the extent to which it will continue to do so and its impact on the company’s future financial results is uncertain; Accenture’s operating results have been, and may in the future, be affected by volatile, negative or uncertain economic and political conditions and the effects of such conditions on the businesses and activity levels of the Company’s customers. company ; Accenture’s business depends on generating and sustaining a continuous and profitable customer demand for the company’s services and solutions, including by adapting and expanding its services and solutions in response to continuous changes. technology and offerings, and a significant reduction in this demand or an inability to respond to the changing technological environment could have a material impact on the Company’s operating results; if Accenture is unable to keep its supply of skills and resources in balance with the demand of customers around the world and to attract and retain professionals with strong leadership skills, the business operations , the utilization rate of the company’s professionals and the company’s operating results can be significantly harmed; Accenture faces legal, reputational and financial risks associated with any failure to protect customer and / or company data from security incidents or cyber attacks; the markets in which Accenture operates are highly competitive and Accenture may not be able to compete effectively; Accenture’s ability to attract and retain businesses and employees may depend on its reputation in the market; If Accenture fails to manage and develop relationships with key alliance partners or fails to anticipate and establish new alliances in new technologies, the company’s operating results could be adversely affected. negative; Accenture’s profitability could suffer significantly if the company is not able to obtain favorable prices for its services and solutions, if the company is not able to remain competitive, if its management strategies costs fail or if it experiences delivery inefficiencies or fails to meet certain agreed upon agreements. on specific objectives or service levels; changes in Accenture’s tax level, as well as tax audits, investigations and procedures, or changes in tax laws or their interpretation or application, could have a material adverse effect on the tax rate company workforce, operating results, cash flows and statements; Accenture’s operating results could be significantly affected by exchange rate fluctuations; changes in accounting standards or in the estimates and assumptions made by Accenture in the preparation of its consolidated financial statements could have an adverse effect on its financial results; Accenture may not be able to access additional capital on favorable terms or at all and if the company raises equity capital it may dilute its shareholders’ stake in the company; due to Accenture’s geographically diversified operations and its growth strategy to continue expanding in key markets around the world, the company is more sensitive to certain risks; if Accenture is unable to manage the organizational challenges associated with its size, the business may not be able to meet its business goals; Accenture may not be successful in acquiring, investing in or integrating businesses, establishing joint ventures or disposing of businesses; Accenture’s business could be seriously affected if the company assumes legal liability; Accenture’s global operations expose the company to numerous and sometimes conflicting legal and regulatory requirements; Accenture’s work with government clients exposes the company to additional risks inherent in the public procurement environment; if Accenture is unable to protect or enforce its intellectual property rights or if Accenture’s services or solutions infringe the intellectual property rights of others or if the company loses its ability to use intellectual property others, their activity could be affected; Accenture’s operating results and share price could be affected if it were not able to maintain effective internal controls; Accenture may be subject to criticism and negative publicity relating to its incorporation in Ireland; as well as the risks, uncertainties and other factors discussed under âRisk Factorsâ in Accenture plc’s most recent annual report on Form 10-K and other documents filed or provided to the Securities and Exchange Commission. The statements contained in this press release speak only as of the date on which they are made, and Accenture assumes no obligation to update any forward-looking statements made in this press release or to conform such statements to results. realities or changes in Accenture’s expectations.
Copyright Â© 2021 Accenture. All rights reserved.