Accenture plc ([stock]ACN[/stock]) has set up a new analytics innovation center in Barcelona, Spain. This affirms the intent of the leading outsourcing and consulting solutions provider to expand in that country.
Equipped with advanced analytics capabilities, the new center will help users better manage their businesses through efficient supply chain analysis and quick decisions.
The new analytics center will strengthen Accenture’s existing supply chain offerings and create approximately 10,000 job opportunities over a span of three years. The idea behind expanding in Spain was to capitalize on business opportunities arising out of regional demand for technological innovation.
Last year in November, Accenture announced plans to open another analytics innovation center in Dublin, Ireland, which will be operational from May.
In February 2010, Accenture and business analytics software and services provider SAS announced plans to expand their strategic relationship by jointly developing, implementing and managing advanced predictive analytics solutions for companies and government organizations. Both Accenture and SAS believe that the solutions will come in handy for banks, insurers and capital market institutions as they reduce credit risks and fraud, improve customer service and make marketing and cross-selling easier.
We are encouraged by Accenture’s endeavour to expand its analytics innovation centers around the world leveraging regional talent to develop a strong product portfolio. This will also allow the company to serve region-specific needs. In a nutshell, these activities would boost the demand for Accenture’s products, thereby leading to revenue growth, going forward.
Accenture witnessed healthy growth in revenue and bookings in the recently concluded third quarter of 2011. However, the economic turmoil in Europe and competitive pressure from International Business Machines Corp. ([stock]IBM[/stock]) could considerably rationalize Accenture’s growth prospects.
Accenture has a Zacks #3 Rank, implying a short-term Hold recommendation.
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