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TBR
TECHNOLOGY BUSINESS RESEARCH, INC.
Technology Business ResearchAccelerating Customer Success Through Business Research
TBR
TECHNOLOGY BUSINESS RESEARCH, INC.
Accenture
PROFESSIONAL SERVICES BUSINESS QUARTERLYSM
First Calendar Quarter 2011Second Fiscal Quarter 2011 Ended Feb. 28, 2011
TBR OUTLOOK – POSITIVE TBR SCORE (0-10 SCALE)
5.95
Publish Date: April 14, 2011Author: Elitsa Bakalova ([email protected]), PSBQ AnalystContent Editor: Alison Crawford, PSBQ Senior Analyst
TBR
Accenture 1Q11 | Professional Services Business Quarterly ©2011 Technology Business Research, Inc.3
Company Analysis3 Executive Summary6 Strategy Overview8 Corporate SWOT Analysis9 Scenario Discussion12 Financial Model Strategy16 Go-to-Market & Services Strategies20 Alliance & Acquisition Strategies22 Geographic Analysis23 Resource Management Strategy
Company Data Models25 Income Statement26 Balance Sheet27 Service Line Model28 Operating Group Model
29 Geographic Model30 Operating Expense Model31 Headcount Model32 Financial Strategy Graphs34 Go-to-Market Graphs35 Resource Management Graphs37 Acquisitions Table
38 Portfolio of Services Table39 Services Announcements
41 Quarterly Signings Tables50 Strategic Alliances Tables52 Org. Structure
53 Worldwide Locations Table55 About TBR
Contents
TBR
Accenture 1Q11 | Professional Services Business Quarterly ©2011 Technology Business Research, Inc.4
Accenture ObjectivesAchieve profitable growth (grow revenue 11.0% to 14.0% in local currency and reach operating margin of 13.6% to 13.7% in FY11)• Accenture is investing in growth and in the
functionality to run as a high-performance business (e.g., focus on operational efficiency, higher offshore leverage, automation for service delivery, etc.). Given such measures, TBR expects the company to reach its FY11 revenue growth and profitability targets (profit targets are not too aggressive in our view).
Expand business from three dimensions: core business, outside of core in complementary service areas, and in emerging and developed markets • Growth in Accenture’s core business (consulting,
technology and outsourcing) will be augmented by increased traction in high-growth areas (e.g., analytics, cloud computing); however, competition in those high-growth areas is increasing, which could create challenges for Accenture’s expansion.
Recruit people to expand onshore and Global Delivery Network to accommodate demand• Accenture is on track to achieve its goal of hiring
more than 64,000 people globally during FY11. The firm’s strength lies in its ability to quickly train and deploy people, allowing it to generate operational efficiencies and meet increasing market demand.
Executive Summary
TBR Position• Accenture will continue to expand its market share
in key geographies (both developed and emerging) and verticals as demand improves.
• The firm is now seeing a strong comeback in consulting & SI with revenue and signings building. TBR expects this momentum to continue as Accenture attracts clients with its strong transformational value proposition. In addition, the firm will see more outsourcing opportunities, which will add to the consulting expansion.
• Accenture’s strong offerings portfolio, coupled with its differentiated talent and skill sets, will help it attract clients as they continue to look for opportunities to recover from the downturn.
Accenture is prepared for a full year of growth as it continues investing to capture business momentum around the globe
(in $ millions) Consensus Guidance Range ActualNet Revenue $5,570 $5,600 - $5,800 $6,054Operating Margin N/A 13.6% - 13.7% (FY11) 12.7%Non-GAAP EPS $0.69 $0.7- $0.9 $0.75
(in $ millions) TBR Estimate Consensus Guidance RangeNet Revenue $6,300 $6,000 - $6,200 $6,300 - $6,500Operating Margin 13.4% N/A 13.6% - 13.7% (FY11)Non-GAAP EPS N/A $0.85 $0.8- $0.95
ACCENTURE'S 1Q11 PERFORMANCE VS. EXPECTATIONS
ACCENTURE'S 2Q11 GUIDANCE AND EXPECTATIONS
TBR
Accenture 1Q11 | Professional Services Business Quarterly ©2011 Technology Business Research, Inc.5
Executive Summary
Accenture continues to outperform its peers through its financial metrics largely due to its stable operating income and net income. Accenture’s revenue stabilization continued through 1Q11, leading the firm to outperform its peers in the Go-To-Market & Services metrics.
Key ■ Represents an area where Accenture is currently challenged versus peers ■ Represents an area where Accenture is outperforming its peers
■ Represents an area where Accenture is neither significantly outperforming nor underperforming its peers
Accenture’s scores reflect its expanded revenue base, stable financial performance metrics and high utilization
1Q10 2Q10 3Q10 4Q10 1Q11
Financial Model Strategy: 5.91 5.96 6.03 6.23 6.29Go-to-Market & Services Strategies: 6.23 6.68 6.31 6.46 6.35Resource Management Strategy: 5.10 5.03 4.97 5.19 5.22TOTAL AVERAGE TBR SCORE: 5.75 5.89 5.77 5.96 5.95
TBR SCORING SUMMARY: CALENDAR QUARTER RESULTSFINANCIAL METRICS
TBR Score
Company Figure
Average in Class
Standard Deviation/2
Operating Margin 5.52 12.7% 9.4% 6.5%Current Ratio 4.61 1.55 1.77 54.4%Debt-to-Asset Ratio 3.87 0.71 0.57 12.8%Return on Assets (TTM) 6.59 15.6% 8.1% 3.5%Return on Equity (TTM) 8.26 56.3% 17.8% 11.8%
TOTAL AVERAGE TBR SCORE
GO-TO-MARKET & SERVICES METRICSTBR
ScoreCompany
FigureAverage in Class
Standard Deviation/2
Revenue (in $ Mill ions) 7.61 $6,054 $2,400 $1,401Revenue Growth YTY 5.16 16.9% 14.3% 16.9%Backlog/Revenue 6.30 2.49 1.96 0.37 Day Sales Outstanding 6.68 45.67 65.69 11.88
TOTAL AVERAGE TBR SCORE
RESOURCE MANAGEMENT METRICSTBR
ScoreCompany
FigureAverage in Class
Standard Deviation/2
Gross Margin 5.11 31.7% 31.0% 5.9%Operating Expenses as a % of Revenue 5.22 18.9% 20.0% 5.0%Revenue per Employee (TTM) 4.08 $112,550 $178,720 $71,920Operating Income per Employee (TTM) 4.86 $15,188 $18,405 $22,335Utilization Rate 8.10 86.0% 77.2% 2.8%Turnover 5.38 14.0% 15.0% 2.7%
TOTAL AVERAGE TBR SCORE 5.22
6.29
6.35
TBR
Accenture 1Q11 | Professional Services Business Quarterly ©2011 Technology Business Research, Inc.6
TBR assessment of Accenture’s two-year strategic outlookKey takeawaysFinancial: Accenture’s revenue will continue to improve through FY11 as recovery in the IT services market solidifies and spreads geographically.Go to market: Accenture will strengthen its offerings portfolio and vertical expertise through organic investments as well as alliances and acquisitions.Resource: The company will continue hiring (the goal is to hire 64,000+ people in FY11), manage utilization and attrition and increase its offshore leverage.
Strategic outlook• Though the economic environment in Europe remains
mixed as countries recover from the downturn at different rates, stabilization in North America and growth opportunities in emerging countries in APAC is helping Accenture position for long-term revenue gains.
• Accenture’s investment in business development, go to market (strengthening core business with new offerings, investing in new business initiatives with high-growth potential such as analytics, cloud computing, etc.) and hiring efforts will help the company take advantage of opportunities that arise.
• Accenture’s strong vertical expertise and transformational value proposition will help it gain traction in a wide range of industries. The company will see more work in the recovering financial services industry, both in outsourcing and consulting & SI as well as in products, resources and communications & high-tech. While pockets of uncertainty will continue to challenge growth in the public sector, Accenture will see expansion in the global healthcare vertical and will continue to invest in IT to improve the quality of healthcare.
Executive Summary
While there are pockets of uncertainty in some verticals and geographies, Accenture will see improved growth during 2011
$5.18 $5.57 $5.42 $6.05 $6.05 $6.30
$22.21$24.80
$27.50
$0.65 $0.80 $0.71 $0.83 $0.77 $0.84
$3.00 $3.40$3.93
-15%
-5%
5%
15%
25%
$0.0
$5.0
$10.0
$15.0
$20.0
$25.0
$30.0
1Q10 2Q10 3Q10 4Q10 1Q11 2Q11Est.
CY10 CY11Est.
CY12Est.
In $
Bill
ions
ACCENTURE'S REVENUE, GROWTH AND PROFITABILITY
Total Revenue (Net Revenue) Operating IncomeRevenue Growth Y/Y Operating Margin
SOURCE: ACCENTURE AND TBR
TBR
TBR
Accenture 1Q11 | Professional Services Business Quarterly ©2011 Technology Business Research, Inc.7
Function Key Strategies TBR Assessment
OverallIncrease Accenture’s business momentum by focusing on delivering value to the client
►
Accenture’s value proposition of well-balanced offerings combining consulting & SI and outsourcing with innovative high-growth service offerings (e.g., analytics, cloud computing, mobility, etc.) is proving attractive to clients. Continuous improvement in the firm’s top line and signings as well as a healthy bottom line signify it has been successful in executing its strategy.
Financial
Deliver profitable growth:• Grow FY11 revenue by 11% to
14% in local currency, faster than the market
• Reach operating margin of 13.6% to 13.7% in FY11, up year-to-year by 10 to 20 basis points
►
An uptick in FY11 guidance from 8% to 11% in local currency provided in 4Q10 demonstrates improved environment and growth potential.
Efficiency on the OPEX side is driving operating margin improvement. This trend will continue as Accenture works toward its operating margin goal, which TBR sees as not overly aggressive and thus achievable.
Go to Market
Expand business from three dimensions: core business as primary growth engine, outside of core business in growth service areas, and in emerging and developed markets
►
Accenture is experiencing a growth recovery in its core business (consulting, technology, outsourcing) and is gaining traction in high-growth service areas such as analytics, cloud computing and smart energy. The firm’s combined reach in developed and emerging markets is proving successful. Economic stabilization in North America and growth opportunities in Brazil allowed Accenture to post record-high revenue in the Americas, growing 21.4% year-to-year.
Strategy Overview
Key: Working: Short-term impact expected on bottom/top line Not working: No major impact or differentiation expected
Accenture is seeing success (e.g., revenue and signings growth) as a result of its increased focus on delivering value to clients
TBR
Accenture 1Q11 | Professional Services Business Quarterly ©2011 Technology Business Research, Inc.8
Function Key Strategies TBR Assessment
Alliances & Acquisitions
• Make strategic alliances to expand in new areas of technology and vertical- specific offerings
• Leverage tuck-in acquisitions to fill gaps in its portfolio
►
Alliances are key to the development of Accenture’s portfolio, especially in new service areas and verticals with high-growth potential, such as cloud computing, analytics and healthcare offerings (e.g., public health solutions with Plexis). Accenture will continue to utilize partners to augment its offerings and capabilities.
Accenture is strong at identifying and integrating small-scale acquisitions that help fill gaps in its portfolio. TBR expects additional tuck-in acquisitions during FY11, as Accenture looks to supplement its organic growth and augment its portfolio, IP and vertical expertise.
Resources & Investments
• Recruit people to expand GDN and invest in training to accommodate for demand
• Develop and increase leverage of global delivery capabilities
• Invest in automation to offer differentiated, less risky implementations with more rapid ROI
►
Accenture will continue to increase headcount to capitalize on market growth. The company is building out resources in its GDN, particularly in lower-cost regions (e.g., the Philippines, India). Service areas with improving demand, such as consulting & SI, also are seeing staff increases as a response to returning discretionary spending. Hiring and training will dilute gross margin in fiscal 2H10, but they are necessary to drive growth.
The development and shifting of service delivery to the GDN – especially for outsourcing and, increasingly, SI – and use of assets to automate delivery will support Accenture’s long-term profitability and attract clients.
Strategy Overview
Key: Working: Short-term impact expected on bottom/top line Not working: No major impact or differentiation expected
Accenture continues to invest in hiring and training to address market demand
TBR
Accenture 1Q11 | Professional Services Business Quarterly ©2011 Technology Business Research, Inc.9
1
1
1
Corporate SWOT AnalysisStrengths• Transition of executive power in CEO succession (new
CEO as of Jan. 1)• Broad Global Delivery Network and developed
presence in low-cost locations • Leverage of a standard framework for building and
delivering services• Alliance relationships with 150+ partners • Strong vertical market focus and expertise• Core competency to attract, hire, train, deploy and
retain skilled talent • Accenture’s Technology Labs turn technology into
business results
Opportunities• Target growth opportunities in emerging markets • Increasing demand for analytics to support
Accenture’s growth• Expansion of Global Delivery Network in Latin
America due to demand for services delivered from the region
• Stabilizing consulting/SI demand will drive growth in Accenture’s consulting & SI business.
• Growth potential of cloud computing can help Accenture gain traction.
Weaknesses• Price competitiveness is limited in commoditized/sole
sourcing deals – unlike in large/complex engagements.
• Recruiting and training costs tied to hiring as well as wage and salary increases used as means to hold off rising attrition are having a temporary negative impact on cost of services.
Threats• Uneven economic recovery in Europe will challenge
Accenture’s near-term performance in the region.• Indian vendors are becoming more active in business
consulting, analytics and remote management ITO.• Competition from other MNCs (e.g., IBM, HP/EDS,
etc.) and European firms for top clients • Competition for lower-cost labor by other MNCs as
well as Indian and European vendors may challenge hiring in India and the Philippines.
Corporate SWOT Analysis
Accenture’s well-developed resources and capabilities allow it to win new growth opportunities
TBR
Accenture 1Q11 | Professional Services Business Quarterly ©2011 Technology Business Research, Inc.10
Scenario Discussion: Positive revenue, signings and demand trends indicate growth for AccentureScenario SWOT AssessmentStrength: balanced combination of consulting, SI and outsourcing offerings (core business)Weakness: prices tend to be higher than its competitors (based on type of engagement)Opportunity: improving consulting & SI demand is creating business prospectsThreat: high competition in Accenture’s core business areas as vendors strive to capture demand and stabilize revenue growth levels
• TBR believes Accenture will see growth during the rest of FY11 (ends in August) as its core business segments, outsourcing and consulting & SI, as well as key verticals, such as products, financial services, communications & high-tech, sustain growth recovery driven by improving demand trends.
• Accenture is experiencing strength in outsourcing, where cost optimization is playing a key role. While outsourcing growth is expected to slightly moderate during fiscal 2H11, the consulting & SI arena is gradually recovering from the economic downturn.
• Consulting & SI bookings reached its second-highest level ever as management and IT consulting as well as SI fueled expansion across a range of verticals. Positive demand trends coupled with intensified hiring efforts in consulting & SI will allow Accenture to gain traction in its larger service line (accounted for 58% of revenue in 1Q11 and 57.4% in FY10).
• Accenture will gain additional momentum entering 2Q11 (fiscal 3Q11) as it looks to build wallet share among clients for higher-value transformational consulting services, the firm’s key differentiator, which will ultimately bring more work in areas such as SI and outsourcing.
• As Accenture strives to sustain its growth, the company will see increased competition from other MNCs, European and Indian vendors that, in a similar fashion, are looking to regain traction with clients and expand their market shares.
Scenario Discussion
Accenture will achieve double-digit growth in FY11 as demand for consulting & SI improves
$19.7$23.4 $21.6 $21.6
$24.3
18.3%18.7%
-7.7%-0.1%
12.8%
-20%
0%
20%
40%
$0
$5
$10
$15
$20
$25
$30
FY07 FY08 FY09 FY10 FY11 Est.
Net
Rev
enue
Gro
wth
Y/Y
(in
$)
In $
Bill
ions
ACCENTURE'S NET REVENUE AND GROWTH
Net RevenueNet Revenue Growth Y-t-Y
SOURCE: ACCENTURE AND TBR
CAGR FY07 - FY10: 3% (in U.S. dollars)
TBR
TBR
Accenture 1Q11 | Professional Services Business Quarterly ©2011 Technology Business Research, Inc.11
Scenario Discussion: Expansion in India will strengthen Accenture’s lower-cost delivery capabilities and create avenues for local market growthScenario SWOT AssessmentStrength: well-developed presence in low-cost locations (47% of total headcount in 1Q11)Weakness: concentration of resources in India and the Philippines creates operational riskOpportunity: demand for offshore service delivery and economic growth in emerging markets (for local market expansion)Threat: competition for talent and pricing pressures from MNCs and Indian vendors
• Expansion of Accenture’s lower-cost resources is strengthening its Global Delivery Network (GDN), allowing the company to provide services at competitive prices.
• India and the Philippines, where Accenture is currently investing, are the firm’s two dominant lower-cost delivery locations (made up ~66% of Accenture’s near/offshore headcount in 1Q11) and will remain so in the long term.
• Accenture will continue to add people in the two countries but will face intensified competition for talent, which is currently driving up attrition and may drive up salary levels and negatively affect cost of services.
• While the greater focus for the two regions is on global service delivery, offshore expansion is allowing Accenture to establish resources that also serve the local market.
• With a new managing director in India (Avinash Vashistha will replace Harsh Manglik, the current country managing director), Accenture is ready to expand in India (TBR estimates India comprises ~$250 million in annual revenue).
• The firm is making progress in winning local clients in India as well as other emerging high-growth markets, but competition in the region is increasing (e.g., other MNCs, European and Indian vendors), which could challenge Accenture’s expansion efforts.
Scenario Discussion
Accenture will face continuous competition at its lower-cost headcount and local market expansion plans
-10.0%
0.0%
10.0%
20.0%
30.0%
30,000
50,000
70,000
90,000
110,000
130,000
1Q09 2Q09 3Q09 4Q09 1Q10 2Q10 3Q10 4Q10 1Q11
Hea
dcou
nt G
row
th Y
/Y
Hea
dcou
nt
ACCENTURE'S GDN HEADCOUNT AND GROWTH
Near/Offshore GDNNear/Offshore Growth Y/Y GDN Growth Y/YTotal Headcount Growth Y/Y
SOURCE: ACCENTURE AND TBR
TBR
TBR
Accenture 1Q11 | Professional Services Business Quarterly ©2011 Technology Business Research, Inc.12
Scenario Discussion: Gaining traction in areas like predictive analytics will support revenue growthScenario SWOT AssessmentStrength: analytics offerings from strategy to execution, vertical expertise, client relationshipsWeakness: expanding but still relatively small predictive analytics businessOpportunity: increasing demand in emerging, fast-growth market segment Threat: high competition from other MNCs, European and Indian vendors
• TBR estimates Accenture is seeing $1.0 billion in business opportunities in analytics. While TBR believes Accenture’s analytics business is still smaller than the aspired size, the business is growing despite intensified competition.
• Accenture will see more traction in the long run due to its ability to lead the market by using its research capabilities to identify key trends and adjust its offerings.
• Accenture is seeing demand for predictive analytics embedded in decision-making. To address demand, Accenture has developed offerings, assets and intellectual property to help clients gain insights for future actions from their data, optimize decision processes and improve outcomes.
• A key differentiator is Accenture’s ability to move from insights to decisions to outcomes by providing a holistic-service approach that starts with strategy (Accenture’s core strength lies in its consulting business) and ends with execution (implementation, outsourcing).
• In addition to building analytics capabilities at the client, Accenture provides analytics as a service, built on its own platform (on a subscription or utility basis). This flexible service that can be scoped to the client’s needs, reduces up-front costs and accelerates speed to outcome.
• A robust network of alliance partners and tuck-in acquisitions help Accenture fill portfolio gaps.
Scenario Discussion
Accenture’s ability to tailor analytics offerings to demand creates avenues for growth
Accenture’s Analytics OfferingsCross-functional analytics
Drive business outcomes from enterprise analytics, organizational effectiveness
Functional analytics
Transform functions or business processes (e.g., sales and marketing, customer service, procurement, etc.)
Industry-specific analytics
Specific solutions across a wide range of industries
Information management
Business intelligence, portals & content management, data management and architecture
Source: Accenture and TBR
TBR
Accenture 1Q11 | Professional Services Business Quarterly ©2011 Technology Business Research, Inc.13
Accenture will maintain growth momentum throughout 2011
Revenue Performance and Strategies
1Q11 Net Revenue: $6.1 billion, 16.9% YTY
• Accenture’s revenue exhibited year-to-year growth for the fourth consecutive quarter in 1Q11, driven by increasing demand for both outsourcing and consulting engagements.
• Strong bookings in the U.S., Canada, and Brazil across Accenture’s service lines additionally contributed to top-line performance in 1Q11.
Revenue and Growth Outlook
• Continually improving demand for services supporting cost optimization and growth, IT transformation, virtualization and ERP implementation will support sustained revenue growth in 2Q11 and the rest of 2011.
• Consulting & Systems Integration will be a key driver of growth through 2011 as clients intensify their investments in growth and transformation.
• Accenture will intensify efforts to build out its global service delivery capabilities and expand into high-growth geographies, supporting the diversification of its revenue base.
Financial Model Strategy: Revenue
$5.2 $5.6 $5.4 $6.0 $6.1 $6.3
$22.2 $24.8 $27.5
-1.7%
8.3%
5.3%
12.3%
16.9%
13.1%
6.1%
11.6% 10.9%
-10.0%
-5.0%
0.0%
5.0%
10.0%
15.0%
20.0%
$0
$5
$10
$15
$20
$25
$30
1Q10 2Q10 3Q10 4Q10 1Q11 2Q11Est.
CY10 CY11Est.
CY12Est.
Net
Rev
enue
Gro
wth
Yea
r-to
-yea
r
In $
Bill
ions
ACCENTURE'S NET REVENUE, GROWTH AND PROJECTIONS
Net RevenueRevenue Growth Year-to-year
NOTE: Annual revenue and projections are for calendar 2010, 2011 and 2012, respectively.
TBR
$23.4
$22.4$21.6 $20.9 $20.8 $21.3 $21.6 $22.2 $23.1 $23.8
$14
$16
$18
$20
$22
$24
$26
2Q08-1Q09
3Q08-2Q09
4Q08-3Q09
1Q09-4Q09
2Q09-1Q10
3Q09-2Q10
4Q09-3Q10
1Q10-4Q10
2Q10-1Q11
3Q10-2Q11Est.
In $
Bill
ions
ACCENTURE'S TRAILING 12-MONTH REVENUE
SOURCE: ACCENTURE FINANCIALS AND TBR
TBR
FY09 FY10
TBR
Accenture 1Q11 | Professional Services Business Quarterly ©2011 Technology Business Research, Inc.14
While temporary challenges remain in the public sector, the rest of Accenture’s verticals will see expansion in the near term
Operating Group Performance and Strategies
CHT$1.3 Billion
Communications & High-Tech experienced positive growth for consulting and outsourcing services related to cost takeout, customer acquisition and retention, and web development. New demand for wireless services engagements also drove growth within the segment.
Financial Services (FS)$1.3 Billion
FS regained strength in outsourcing and continued to see traction in consulting & SI in post-merger integration, banking and insurance replatforming, risk and regulatory compliance and business transformation.
Health & Public Service (HPS)$1.0 Billion
HPS is seeing growth in healthcare (e.g., cost reduction, back-office transformation, health administration and electronic medical records). Repositioning of the public sector business, especially in EMEA, and increased volumes in outsourcing and SI with the U.S. federal sector will help Accenture improve performance.
Products$1.4 Billion
Products growth was largely driven by consulting services across verticals and an increase in transformational ERP projects in North America.
Resources$1.2 billion
Resources was the fastest-growing, up 26.0% year-to-year due to strong growth in consulting & SI (ERP, operating model design and rollout, supply chain optimization, smart grid).
Financial Model Strategy: Operating Groups
$1.21 $1.31 $1.27 $1.40 $1.37 $1.45
$1.11 $1.18 $1.16 $1.28 $1.27 $1.32
$1.08 $1.15 $1.12 $1.30 $1.27 $1.32
$0.93 $1.00 $1.01 $1.13 $1.17 $1.18
$0.85 $0.93 $0.86 $0.93 $0.96 $1.02
0%
25%
50%
75%
100%
1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 Est.
% o
f Net
Rev
enue
ACCENTURE'S REVENUE BY OPERATING GROUP(IN $ BILLIONS)
Health & Public Service ResourcesFinancial Services Communications & High-TechProducts
SOURCE: TBR AND ACCENTURE
TBR
3.0%5.0%7.0%9.0%
11.0%13.0%15.0%17.0%19.0%
1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 Est.
% o
f Net
Rev
enue
ACCENTURE'S OPERATING GROUP PROFITABLITY
Communications & High-Tech Financial ServicesHealth & Public Service ProductsResources
SOURCE: TBR AND ACCENTURE
TBR
TBR
Accenture 1Q11 | Professional Services Business Quarterly ©2011 Technology Business Research, Inc.15
Consulting & SI will be the near-term revenue driver as demand continues to improve and clients initiate transformational projectsService Line Performance and Strategies
Consulting & SI:$3.5 billion, up 19.7% year-to-year
• Consulting & SI saw strong performance in verticals such as resources, financial services, communications & high-tech and products.
• Consulting & SI will continue to regain growth momentum during FY11 as demand stabilizes.
• Consulting will be driven by cost take- out, revenue growth, compliance, application modernization, virtualization and adoption of cloud computing.
• SI will be driven by ERP (implementation of SAP, Oracle and Microsoft platforms), package enhancements and analytics.
Outsourcing: $2.5 billion, up 13.4% year-to-year
• Outsourcing was driven by verticals such as resources, communications & high-tech and financial services.
• Outsourcing reflected demand for cost take-out, improving operational efficiency and outsourcing of business processes.
• Outsourcing growth is expected to slightly slow down during fiscal 2H11 as Accenture regains strength in consulting & SI driven by its transformational value proposition, which will drive business.
Financial Model Strategy
$2,932 $3,225 $3,094 $3,568 $3,509 $3,648
$2,244 $2,346 $2,326
$2,478 $2,544
$2,589
-5.0%0.0%5.0%10.0%15.0%20.0%25.0%
$0$1,000$2,000$3,000$4,000$5,000$6,000$7,000
1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 Est.
Gro
wth
Yea
r-to
-Yea
r
In $
Mill
ions
ACCENTURE'S SERVICE LINE REVENUE (IN $ MILLIONS)
Outsourcing C&SIC&SI YtY Growth Outsourcing YtY Growth
SOURCE: TBR AND ACCENTURE
TBR
56.6% 57.9% 57.1% 59.0% 58.0% 58.9%
43.4% 42.1% 42.9% 41.0% 42.0% 41.1%
15.0% 16.5% 15.0% 15.1% 14.0% 14.8%
9.4% 11.6% 10.7% 11.6% 11.0% 11.4%0%
15%
30%
45%
60%
75%
1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 Est.
% o
f Net
Rev
enue
ACCENTURE'S SERVICE LINE REVENUE AND PROFITABILITY
Consulting & SI Revenue Outsourcing Revenue
Consulting & SI Operating Margin* Outsourcing Operating Margin*SOURCE: TBR AND ACCENTURE * Operating margin is a TBR estimate
TBR
TBR
Accenture 1Q11 | Professional Services Business Quarterly ©2011 Technology Business Research, Inc.16
Accenture will achieve its operating margin target for FY11 by driving efficiency on the SG&A side
1Q11 Operating Expenses: $1.2 billion
Cost of Revenue$4.1 billion
Aggressive hiring, salary increases and subcontractor use boosted cost of services, but this was a necessary step to help drive growth turnaround and long-term expansion.
SG&A Expense$1.1 billion
Accenture was able to manage its SG&A expenses despite business development efforts (SG&A expenses as a percentage of revenue fell 110 basis points from 20.0% in 1Q10 to 18.9% in 1Q11).
Margins and Outlook
• Hiring and training will continue to impact gross margin in fiscal 2H11; however, salary increases and bonuses were all absorbed in 1H11, alleviating margin pressures from pay increases.
• As the pricing environment stabilizes, Accenture will absorb higher cost of services with higher pricing and more efficient resource mix.
• Efficiency on the opex side is driving operating margin improvement, a trend that will continue as Accenture works toward its operating margin goal of 13.6% to 13.7% for FY11, which TBR sees as achievable.
Financial Model Strategy: Expenses
32.7% 34.7% 34.0% 32.2% 31.7% 32.0%
12.6% 14.4% 13.2% 13.7% 12.7% 13.4%
0%
10%
20%
30%
40%
1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 Est.
Gro
ss a
nd O
pera
ting
Mar
gin
ACCENTURE'S GROSS AND OPERATING PROFITAND PROJECTIONS
Gross Margin Operating MarginSOURCE: TBR AND ACCENTURE
TBR
0.1% 0.1% 0.0% 0.0% 0.0% 0.0%
8.0% 7.4% 8.0%6.4% 7.2% 7.0%
12.0% 12.8% 12.9% 12.1% 11.7% 11.6%
-3.0%
2.0%
7.0%
12.0%
17.0%
22.0%
1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 Est.
OPERATING EXPENSES AS A PERCENTAGE OF SALES
Sales and Marketing General and AdministrativeReorganization cost (benefit)
SOURCE: ACCENTURE AND TBR
TBR
TBR
Accenture 1Q11 | Professional Services Business Quarterly ©2011 Technology Business Research, Inc.17
Accenture’s emphasis on client relationship building will continue to boost signings and revenue in the long runSales Strategy & Customer Segmentation
TBR AssessmentAccenture is strongly focused on building client relationships. The use of senior executives (partners and principals) in the bulk of sales activities helps create long-lasting customer relations (e.g., diamond clients), account growth and revenue benefits.
Accenture’s Sales StrategyAccenture’s global sales organization is comprised of a traditional sales channel supported by a small direct sales channel.• Internal/Traditional sales channel: Responsible for the bulk of
Accenture’s sales. The sales function is tasked to the firm’s partners, associate partners and managers (or senior executives) – 4,500 people globally. Each client has account executives responsible for the relationship, business development, etc.
• Direct sales channel: Covers new clients with whom Accenture does not yet work, and is comprised of:o Equally small and direct sales team in BPO that targets SMBs. o Direct sales team in applications outsourcing (~80 sales
directors) and ITO that works with client senior executives.• Third-party advisors: These advisors work with clients to score
deals for Accenture and constitute only a minor portion of the company’s sales force.
Accenture’s Customer StructureAccenture defines its “diamond,” or “foundation,” clients as those with $100+ million, long-term, established accounts that have a strong relationship with the company. The number of Accenture diamond clients across the globe reached 100 at the end of FY10.• The United Kingdom, a key region for Accenture’s business, has ~20
diamond clients. Diamond clients are also located in emerging markets (e.g., one in China, four in Brazil).
Go-to-Market & Services Strategies: Sales Strategy
Internal/Traditional Sales (Accenture’s Senior
Executives; 4,500 people)
Direct Sales (~150 people, TBR
estimate)
Outside Advisors
Accenture’s Sales Structure
ClientSour
ce: A
ccen
ture
and
TBR
.
TBR
Accenture 1Q11 | Professional Services Business Quarterly ©2011 Technology Business Research, Inc.18
Accenture’s Services Line Deep Dive
TBR AssessmentWhile consulting & SI slightly led in terms of revenue contribution in 1Q11, overall Accenture has a well-balanced business mix that combines strong vertical expertise with high-value transformational offerings, implementation and cost-optimization capabilities. This allows the company to target a wide range of clients and achieve account growth along the services continuum.
Service Lines Deep Dive Strategies• C&SI: place strong emphasis on cost take-out, growth
and transformation, ERP, package enhancements and analytics to increase bookings
• ITO: emphasize remote infrastructure management to accommodate strong demand as clients become increasingly attuned to transferring assets due to lighter capital costs (cost optimization is a key client priority)
• BPO: benefit from providing a combination of horizontal offerings (e.g., demand for F&A) and industry-specific solutions (e.g., healthcare, insurance)
• AO: bundle AO with other outsourcing services; provide client value and use IP for AO service delivery
Go-to-Market & Services Strategies: Service Line Deep Dive
ACCENTURE REPORTED 1Q11 SERVICE LINE DEEP DIVE
Industry-specific offerings allow Accenture to broaden its client base
C&SI, 58.0%
Outsourcing, 42.0%
C&SI, 58.0%
BPO, 24.4%
ITO, 4.3%
AO, 13.3%
TBR
Accenture 1Q11 | Professional Services Business Quarterly ©2011 Technology Business Research, Inc.19
Go-to-Market & Product Strategies
Signings & Pipeline• Improving demand is positioning Accenture for revenue
growth during the rest of FY11. While there may be pockets of uncertainty in geographies like Japan due to the recent natural disasters, TBR expects Accenture’s bookings will land somewhere in the middle of its expectations range of $25 billion to $28 billion in FY11.
• Consulting & SI demand is heating up, with consulting signings growing 12.1% year-to-year in 1Q11 and returning to levels experienced in FY08 before the recession. Accenture is showing its strength in all three areas, including management and technology consulting and SI, and TBR expects this trend to continue during the rest of FY11. Such deals will help support near-term revenue performance.
• Accenture’s strong transformational capabilities and its mix of cost improvement and growth offerings will help it gain traction with clients in consulting & SI as well as outsourcing. Demand for innovation will help Accenture gain traction outside its core business in areas such as cloud computing, analytics, etc.
• Accenture is seeing more larger-sized deals (signed eight deals over $100 million in 1Q11), which will help support long-term revenue generation.
Outsourcing demand remains, and consulting & SI has improved its contribution to bookings, which will support near-term revenue growth
-15%-10%-5%0%5%10%15%20%25%
$5,000
$10,000
$15,000
$20,000
$25,000
$30,000
1Q09 2Q09 3Q09 4Q09 1Q10 2Q10 3Q10 4Q10 1Q11 2Q11Est.
TTM
Boo
king
s Ye
ar-t
o-ye
ar G
row
th
(In $
Mill
ions
)
ACCENTURE'S TTM NEW BOOKINGS AND Y/Y GROWTH
TTM Outsourcing TTM ConsultingYear-to-Year Growth
SOURCE: TBR AND ACCENTURE
TBR
Key 1Q11 Customer WinsCompany TBR Assessment
Israel Electric CorporationIsraelTwo years
This consulting & SI deal showcases Accenture’s ability to work with clients in different business areas as it covers six different projects. The deal extends Accenture’s relatively small market presence in the Middle East.
RSAU.K.Four years
This insurance BPO deal showcases Accenture’s ability to build strong relationships with its clients and expand existing business. The original deal was signed in 2003 and will extend until 2016.
TBR
Accenture 1Q11 | Professional Services Business Quarterly ©2011 Technology Business Research, Inc.20
Pricing Environment & StrategiesAccenture’s market and pricing environment remains competitive; prices are now more stable across a broader share of its business and geographies, allowing the company to sustain the recovery in its growth. • As the economic environment stabilizes across
the globe, TBR believes Accenture is seeing pricing stability in the Americas, APAC and some countries in Europe (e.g., Germany, the Nordics). In such regions, we believe Accenture is able to test and push slight price increases with clients that are broadening their IT investments.
• At the same time, TBR believes pricing pressures still exist in regions in Europe that lag in economic recovery and have tight public sector spending (e.g., the Netherlands, the U.K., Spain).
• During 1Q11, Accenture experienced lower contract profitability year-to-year largely in consulting & SI but also in outsourcing (i.e., in the health & public service vertical). Accenture was unable to fully recover the higher annual compensation increases and subcontractor costs with better pricing and more efficient resource mix. TBR expects contract profitability will stabilize and improve in 2H11, as all salary increases and bonuses were absorbed in 1H10, while the pricing environment is improving.
Pricing is stabilizing and slowly improving, allowing Accenture to expand its revenue and improve contract profitability in the long term
The hourly billing rates above are based on Accenture’s General Purpose Commercial IT Equipment, Software and Services government contract with the U.S. General Services Administration, launched in 2010.
Go-to-Market & Services Strategies: Pricing
TITLE 1 2 3 4
Business Integration Analyst $91 $100 $114 $123
Business Integration Consultant $111 $125 $139 $153
Business Integration Manager $157 $177 $183 $202
Business Integration Senior Manager $236 $274 $303
Business Integration Associate Partner $316 $347 $378 $417
Business Integration Partner $494 N/A N/A N/A
Client Financial Management Assistant $64 N/A N/A N/A
Client Financial Management Analyst $81 $91 N/A N/A
Client Financial Management Specialist $110 $121 N/A N/A
Client Financial Management Manager $157 N/A N/A N/A
Client Financial Management Senior Manager $231 N/A N/A N/A
Client Financial Management Associate Partner $340 N/A N/A
Executive Assistant $64 $73 $83 N/ANOTE: Net rates (discount deducted).
SOURCE: TBR AND GENERAL SERVICES ADMINISTRATION.
ACCENTURE'S U.S. GOVERNMENT HOURLY RATES(05/10-05/11)
SKILL LEVEL/EXPERIENCE
TBR
TBR
Accenture 1Q11 | Professional Services Business Quarterly ©2011 Technology Business Research, Inc.21
Acquisition AssessmentAccenture will be looking to make more small-scale acquisitions given its ability to fund such transactions as well as its history and expertise in integrating companies.
Accenture Acquisition Strategy• Accenture’s main goal is to grow its business
organically; however, the company supplements organic growth with acquisitions when it finds the right transaction in terms of price and capabilities that will be added.
• Accenture is successful at finding and integrating small-scale, tuck-in acquisitions that are not disruptive to overall business performance.
• The acquired companies help Accenture fill in gaps in its offerings and capabilities, augment its assets and drive overall competitive differentiation.
Recent AcquisitionsCAS Computer Anwendungs- und Systemberatung AG• In January, Accenture completed the acquisition of
Germany-based CAS Computer Anwendungs- und Systemberatung AG (CAS). Accenture gained 234 employees in Germany, the U.K., the U.S. and Australia.
• Accenture will strengthen its existing software capabilities by adding CAS’ customer relationship management (CRM) and mobility software focused on retail execution and trade promotions for the consumer products industry.
• By increasing the functionality of the software post-acquisition in areas such as digital merchandising, distributors’ management and analytics, Accenture will be able to expand its client base and geographic reach to LATAM, China and India.
• The bundling of consulting & SI services with the software will help Accenture gain broader revenue opportunities and provide higher-value to the client.
Alliance & Acquisition Strategies
Accenture will remain steadfast in supporting organic growth via small-scale strategic acquisitions through FY11
TBR
Accenture 1Q11 | Professional Services Business Quarterly ©2011 Technology Business Research, Inc.22
Alliance Assessment• TBR expects Accenture will expand its partnership
base of technology developers to broaden its offerings with high-growth potential and vertical-specific solutions.
• Alliances will continue to be vital, allowing Accenture to provide services and solutions in high-growth areas. TBR believes Accenture will continue this trend as a means to gain global traction for its services.
Accenture Alliance Strategy• Accenture’s internal organization, the Accenture
Alliances Group with 300 dedicated alliance professionals, is responsible for forming alliances and partnerships to provide the company with new channels, incremental revenue streams and access to emerging technologies.
• Alliances complement and extend Accenture’s solutions and capabilities.
• Alliances and partners are centered on the company’s client service business (consulting, SI, outsourcing, etc.). The company has an alliance network of more than 150 partners.
Recent AlliancesNetApp• Accenture and NetApp are expanding their existing
relationship for the joint development, marketing and delivery of solutions focused on datacenter optimization and virtualization, cloud computing and application optimization. This will help Accenture solidify its strategy of growing in high-growth areas, such as cloud computing.
• The agreement is a win-win situation for both parties as Accenture will provide consulting & SI resources to NetApp to strengthen its implementation capabilities.
Plexis• Accenture and Plexis announced a joint solution to
optimize the efficiency, cost and reliability of Medicaid Management Information Systems. The Accenture Public Health Platform combines Accenture’s SI, project management and software development capabilities with Plexis’ software.
• The alliance is a good example of how Accenture augments is offerings with partner software. Accenture will be able to gain share in the growing healthcare market.
Alliance & Acquisition Strategies
Alliances are a strong contributor to Accenture’s competitiveness and diverse set of service offerings
TBR
Accenture 1Q11 | Professional Services Business Quarterly ©2011 Technology Business Research, Inc.23
Accenture will continue its geographic expansion in the major and emerging markets across the majority of its verticalsGeographic Revenue Strategies
United States/Americas$2.7 billion
Accenture reported record-high revenue from its Americas geography in 1Q11 driven by strong growth within the U.S., Canada and Brazil. This shows Accenture can not only grow in major markets that are strong in economic recovery but can also capture fast-growth opportunities in emerging markets.
EMEA$2.6 billion
Performance in EMEA was subdued due to uneven economic recovery among the countries in Europe; however, growing local economies are supporting business in the region.
APAC$787 million
Despite being the smallest revenue contributor, APAC outpaced Accenture’s other geographies in year-to-year growth terms in 1Q11. Accenture continues to invest in the expansion of its footprint in the geography.
Emerging & Developed Markets
Accenture continues to aggressively pursue opportunities in six key emerging markets (BRIC, South Korea, Mexico) and other high-growth geographies to diversify its revenue base and increase its global presence.
Geographic Analysis
-20%-15%-10%
-5%0%5%
10%15%20%
1Q09 2Q09 3Q09 4Q09 1Q10 2Q10 3Q10 4Q10 1Q11 2Q11Est.N
et R
even
ue G
rwot
h Se
quen
tially
ACCENTURE'S SEQUENTIAL GROWTH BY GEOGRAPHY
Americas Sequential Growth EMEA Sequential GrowthAPAC Sequential Growth
SOURCE: TBR AND ACCENTURE
TBR
-30.0%
-20.0%
-10.0%
0.0%
10.0%
20.0%
30.0%
40.0%
$0.0
$1.0
$2.0
$3.0
$4.0
$5.0
$6.0
1Q09 2Q09 3Q09 4Q09 1Q10 2Q10 3Q10 4Q10 1Q11 2Q11Est.
Axis Title
Reve
nue
Gro
wth
Yea
r-to
-Yea
r
Net
Rev
enue
in $
Bill
ions
ACCENTURE'S REVENUE AND YtY GROWTH BY GEOGRAPHY
Asia Pacific EMEAAmericas Americas YtY GrowthEMEA YtY Growth APAC YtY Growth
SOURCE: TBR AND ACCENTURE
TBR
TBR
Accenture 1Q11 | Professional Services Business Quarterly ©2011 Technology Business Research, Inc.24
Accenture will continue aggressively hiring to encourage geographic expansion into emerging marketsHeadcount Strategies & Investments
• Hiring is helping Accenture address market growth and improving demand. Accenture will continue hiring in FY11, at similar levels as in FY10 – on track to reach hiring goal of more than 64,000 people across the GDN and onshore.
• Accenture is positioning India as a key lower-cost service delivery location. Accenture has 60,000 people in India, or ~50% of the GDN headcount, which stood at 122,100 in 1Q11.o In 1Q11, Accenture opened a new delivery center for
technology in Kolkata, India. The center will provide application development and management and infrastructure support.
• Accenture continues to pursue hiring initiatives in the Philippines, its second-largest offshore location. The company is increasing its local workforce to 25,000 by August to improve its BPO-heavy service delivery capabilities in the region. TBR estimates the Philippines had ~21,000 people in 1Q11.
• Accenture is investing in onshore recruiting efforts to enhance its cadre of client-facing management consulting, technology consulting and technology architect expertise.
Resource Management Strategy: Headcount
~22% of people are in North
America
~40% of people are in APAC
~34% of people are in EMEA
~4% of people are in South
America
102,236 113,988
79,200101,400
0
50,000
100,000
150,000
200,000
1Q10 1Q11
Tota
l Hea
dcou
nt
Calendar Quarter
ACCENTURE'S HEADCOUNT
Nearshore & OffshoreHeadcount
Other GDN locationsand onshore
Total headcount: 215388 (+18.7% YTY)
TBR
Total headcount in 1Q11: 215,388
TBR
Accenture 1Q11 | Professional Services Business Quarterly ©2011 Technology Business Research, Inc.25
Accenture will drive growth with new leadership in key functional areas and geographies
Efficiency Performance• Accenture continues to alleviate utilization through
increased hiring efforts. The utilization level of nearly 88% in FY10 was not sustainable in the long run, so the actions taken are in the right direction.
• Attrition decreased on a year-to-year basis as escalated investment in employee retention initiatives, including salary and bonus hikes, is alleviating turnover.
• Revenue per employee fell on a year-to-year comparison as organizational hiring efforts outpaced the rate of revenue growth during the period.
• Operating income per employee jumped 6.0% year-to-year in 1Q11, positively affected by Accenture’s increased reliance on offshore (GDN) resources and tools for service delivery.
Organizational ChangesAccenture is strategically repositioning its organizational leadership team to propel growth.• Accenture appointed Oliver Benzecry as geographic
unit managing director for the U.K. and Ireland as well as country managing director for the U.K.
• Kay Kapoor was selected to lead Accenture’s U.S. Federal Government practice.
• Avinash Vashistha was appointed country managing director for the company’s India operations. Vashistha will serve as co-chairman of India alongside current co-chairman Harsh Manglik.
• Sander van’t Noordende was named group chief executive of Accenture’s Management Consulting platform. van’t Noordende’s previous role as group chief executive of Accenture’s Resources platform will be filled by Jean-Marc Ollagnier. van’t Noordende will succeed Mark Foster, who will retire.
• Shawn Collinson was appointed senior managing director of Growth & Strategy for Accenture’s global operations. Collinson succeeds Karl-Heinz Floether, who will retire.
Resource Management Strategy: Efficiency & Org. Changes
1Q10 1Q11
Revenue per Employee 117,189$ 112,550$ ↓Operating Income per Employee 14,327$ 15,188$ ↑Utilization 88.0% 86.0% ↓Turnover 15.0% 14.0% ↓
Accenture's Efficiency Metrics (In $) TBR
TBR
Accenture 1Q11 | Professional Services Business Quarterly ©2011 Technology Business Research, Inc.26
Income Statement
ACCENTUREConsolidated Statement of Income(in $ Thousands Except Share Data)Ca lendar Period Feb. '10 May '10 Aug. '10 Nov. '10 Feb. '11 May '11 Feb. '10 May '10 Aug. '10 Nov. '10 Feb. '11 May '11 Feb. '10 May '10 Aug. '10 Nov. '10 Feb. '11 May '11CALENDAR QUARTER 1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 Est. 1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 Est. 1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 Est.FISCAL QUARTER 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 Est. 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 Est. 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 Est.Revenues 5,537,823$ 5,975,495$ 5,833,073$ 6,478,193$ 6,496,293$ 6,757,615$ 107.0% 107.3% 107.6% 107.2% 107.3% 107.3% -2.1% 7.9% 6.0% 12.7% 17.3% 13.1%
Reimbursements 361,385 404,478 412,492 432,543 442,672 457,615 7.0% 7.3% 7.6% 7.2% 7.3% 7.3% -7.6% 3.1% 14.7% 18.5% 22.5% 13.1%
Net Sales (Revenues before Reimbursements) 5,176,438$ 5,571,017$ 5,420,581$ 6,045,650$ 6,053,621$ 6,300,000$ 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% -1.7% 8.3% 5.3% 12.3% 16.9% 13.1%
Cost of Services 3,486,107 3,639,367 3,575,769 4,101,170 4,136,397 4,284,000 67.3% 65.3% 66.0% 67.8% 68.3% 68.0% -4.3% 4.7% 2.6% 14.0% 18.7% 17.7%
Gross Profit 1,690,331 1,931,650 1,844,812 1,944,480 1,917,224 2,016,000 32.7% 34.7% 34.0% 32.2% 31.7% 32.0% 4.2% 15.6% 11.1% 9.0% 13.4% 4.4%
Sales and Marketing 623,386 714,487 698,325 731,471 709,779 730,800 12.0% 12.8% 12.9% 12.1% 11.7% 11.6% 20.1% 36.1% 26.5% 17.6% 13.9% 2.3%
General and Administrative 413,335 410,057 432,793 385,726 435,499 441,000 8.0% 7.4% 8.0% 6.4% 7.2% 7.0% -5.8% -0.1% 0.0% -6.4% 5.4% 7.5%
Selling, General and Administrative Expenses 1,036,721 1,124,544 1,131,118 1,117,197 1,145,278 1,171,800 20.0% 20.2% 20.9% 18.5% 18.9% 18.6% 8.2% 20.2% 14.9% 8.0% 10.5% 4.2%
Reorganization cost (benefit) 2,637 3,276 60 348 369 100 0.1% 0.1% 0.0% 0.0% 0.0% 0.0% 120.3% 3.1% -98.3% -90.2% -86.0% -96.9%
Operating Expenses 1,039,358 1,127,820 1,131,178 1,117,545 1,145,647 1,171,900 20.1% 20.2% 20.9% 18.5% 18.9% 18.6% 10.0% 20.2% -8.8% 7.7% 10.2% 3.9%
Operating Income 650,973 803,830 713,634 826,935 771,577 844,100 12.6% 14.4% 13.2% 13.7% 12.7% 13.4% -3.9% 9.8% 70.1% 10.8% 18.5% 5.0%
Interest Income and Other, Net (11,583) (550) 2,960 17,693 2,570 1,967 -0.2% 0.0% 0.1% 0.3% 0.0% 0.0% -153.9% -103.5% 2.2% 103.4% 122.2% 457.6%
Income before Taxes 639,390 803,280 716,594 844,628 774,147 846,067 12.4% 14.4% 13.2% 14.0% 12.8% 13.4% -8.5% 7.4% 69.6% 11.9% 21.1% 5.3%
Provisions for Taxes 177,511 239,761 206,331 239,072 208,397 238,598 3.4% 4.3% 3.8% 4.0% 3.4% 3.8% -9.7% 13.5% 77.1% 3.8% 17.4% -0.5%
Net Income before Minority Interest 461,879 563,519 510,263 605,556 565,750 607,469 8.9% 10.1% 9.4% 10.0% 9.3% 9.6% -8.1% 5.0% 66.8% 15.4% 22.5% 7.8%
Minority Interest (62,119) (72,922) (64,781) (70,842) (62,733) (74,493) -1.2% -1.3% -1.2% -1.2% -1.0% -1.2% 31.7% 21.2% -26.3% 11.4% -1.0% -2.2%
Net Income 399,760$ 490,597$ 445,482$ 534,714$ 503,017$ 532,976$ 7.7% 8.8% 8.2% 8.8% 8.3% 8.5% -2.8% 10.5% 74.9% 20.2% 25.8% 8.6%
Net Earnings per Share of Common Stock 0.60$ 0.73$ 0.66$ 0.81$ 0.75$ n/a
Common Shares Outstanding 769,188,236 766,597,090 758,133,742 742,961,409 742,852,436 n/a
SOURCE: ACCENTURE
AS A PERCENTAGE OF REVENUE YEAR-TO-YEAR CHANGE
TBR
Accenture 1Q11 | Professional Services Business Quarterly ©2011 Technology Business Research, Inc.27
Balance SheetACCENTUREConsolidated Balance Sheets (in $ Thousands)
CALENDAR QUARTER 1Q10 2Q10 3Q10 4Q10 1Q11FISCAL QUARTER 2Q10 3Q10 4Q10 1Q11 2Q11ASSETSCurrent Assets
Cash and Equivalents 4,114,751 4,312,111 4,838,292 4,160,452 4,677,544
Short-Term Investments 7,323 8,094 2,987 3,164 5,192
Accounts Receivable 2,470,983 2,350,493 2,534,598 2,846,561 3,072,103
Unbilled Services 1,118,919 1,165,857 1,127,827 1,354,854 1,373,376
Other (Deferred Income Taxes, etc.) 1,062,476 1,006,835 1,059,921 1,104,679 1,151,062
Total Current Assets 8,774,452 8,843,390 9,563,625 9,469,710 10,279,277
Property, Plant, Equip. (Net of Dep.) 646,727 625,534 659,569 673,697 694,788
Other Non-Current Assets 2,468,909 2,448,734 2,612,059 2,725,467 2,919,608
Total Assets 11,890,088$ 11,917,658$ 12,835,253$ 12,868,874$ 13,893,673$
LIABILITIES AND EQUITYCurrent Liabilities
Short-Term Borrowings 206$ 573$ 143$ 332$ 422$
Accounts Payable 683,632 683,094 885,328 824,354 846,365
Employee Compensation and Benefits 2,137,896 2,409,544 2,683,492 2,691,323 2,495,790
Deferred Revenues 1,796,394 1,688,069 1,772,833 1,769,439 2,114,235
Other Current Liabilities 1,191,091 1,047,774 1,225,808 1,161,403 1,160,284 Total Current Liabilities 5,809,219$ 5,829,054$ 6,567,604$ 6,446,851$ 6,617,096$
LT Debt, Net of Current 199 198 1,445 - 4,129
Other Non-current Liabilities 2,639,767 2,627,006 2,991,481 3,110,913 3,224,677
Total Liabilities 8,449,185$ 8,456,258$ 9,560,530$ 9,557,764$ 9,845,902$ Total Stockholders' Equity 3,440,903$ 3,461,400$ 3,274,723$ 3,311,110$ 4,047,771$
Total Liabilities & Equity 11,890,088$ 11,917,658$ 12,835,253$ 12,868,874$ 13,893,673$
FINANCIAL RATIOSDays Sales Outstanding 42.96 37.97 42.08 42.38 45.67
Fixed Asset Turnover 31.09 35.03 33.74 36.28 35.39
Days Cash Outstanding 71.67 69.79 80.38 61.98 69.62
Total Asset Turnover 1.72 1.87 1.75 1.88 1.81
Debt/Asset Ratio 0.71 0.71 0.74 0.74 0.71
Current Ratio 1.51 1.52 1.46 1.47 1.55
Return on Assets 13.1% 13.2% 14.6% 15.2% 15.6%
Return on Equity 49.9% 48.0% 52.8% 55.7% 56.3%SOURCE: ACCENTURE
TBR
TBR
Accenture 1Q11 | Professional Services Business Quarterly ©2011 Technology Business Research, Inc.28
Appendix – Financial Models
CALENDAR QUARTER 1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 Est.FISCAL QUARTER 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 Est.NET REVENUE (IN $ MILLIONS)Consulting & Systems Integration 2,932$ 3,225$ 3,094$ 3,568$ 3,509$ 3,711$
Outsourcing 2,244$ 2,346$ 2,326$ 2,478$ 2,544$ 2,589$
Total Net Revenue 5,176$ 5,571$ 5,421$ 6,046$ 6,054$ 6,300$
AS A PERCENTAGE OF REVENUEConsulting & Systems Integration 56.6% 57.9% 57.1% 59.0% 58.0% 58.9%
Outsourcing 43.4% 42.1% 42.9% 41.0% 42.0% 41.1%
YEAR-TO-YEAR CHANGE (IN U.S. DOLLARS)Consulting & Systems Integration -3.2% 9.1% 6.2% 14.3% 19.7% 15.1%
Outsourcing 0.4% 7.1% 4.2% 9.5% 13.4% 10.3%
Total Net Revenue -1.7% 8.3% 5.3% 12.3% 16.9% 13.1%
SEQUENTIAL CHANGEConsulting & Systems Integration -6.0% 10.0% -4.0% 15.3% -1.6% 4.0%
Outsourcing -0.8% 4.6% -0.9% 6.5% 2.7% 4.5%
Total Net Revenue -3.8% 7.6% -2.7% 11.5% 0.1% 4.2%
OPERATING INCOME (IN $ MILLIONS)Consulting & Systems Integration 440$ 532$ 464$ 539$ 491$ 549$
Outsourcing 211$ 272$ 249$ 288$ 280$ 295$
Total Operating Income 651$ 804$ 714$ 827$ 772$ 844$
ESTIMATED OPERATING MARGINConsulting & Systems Integration 15.0% 16.5% 15.0% 15.1% 14.0% 14.8%
Outsourcing 9.4% 11.6% 10.7% 11.6% 11.0% 11.4%
Total Operating Margin 12.6% 14.4% 13.2% 13.7% 12.7% 13.4%SOURCE: TBR ESTIMATES AND ACCENTURE
ACCENTURE'S SERVICE LINE REVENUE AND ESTIMATED PROFITABILITY TBR
TBR
Accenture 1Q11 | Professional Services Business Quarterly ©2011 Technology Business Research, Inc.29
Appendix – Financial Models
CALENDAR QUARTER 1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 Est.FISCAL QUARTER 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 Est.NET REVENUE (IN $ THOUSANDS)Communications & High-Tech 1,110,147$ 1,178,355$ 1,164,475$ 1,284,476$ 1,274,449$ 1,323,000$
Financial Services 1,076,879$ 1,149,863$ 1,115,259$ 1,301,118$ 1,265,620$ 1,324,890$
Health & Public Service 851,563$ 926,618$ 856,109$ 931,600$ 964,612$ 1,020,600$
Products 1,205,575$ 1,307,903$ 1,267,809$ 1,396,041$ 1,373,646$ 1,449,000$
Resources 929,309$ 1,004,056$ 1,013,513$ 1,128,317$ 1,171,016$ 1,178,100$
Other 2,965$ 4,222$ 3,416$ 4,098$ 4,278$ 4,410$
Total 5,176,438$ 5,571,017$ 5,420,581$ 6,045,650$ 6,053,621$ 6,300,000$ AS A PERCENTAGE OF REVENUECommunications & High-Tech 21.4% 21.2% 21.5% 21.2% 21.1% 21.0%
Financial Services 20.8% 20.6% 20.6% 21.5% 20.9% 21.0%
Health & Public Service 16.5% 16.6% 15.8% 15.4% 15.9% 16.2%
Products 23.3% 23.5% 23.4% 23.1% 22.7% 23.0%
Resources 18.0% 18.0% 18.7% 18.7% 19.3% 18.7%
Other 0.1% 0.1% 0.1% 0.1% 0.1% 0.1%YEAR-TO-YEAR CHANGECommunications & High-Tech -7.0% 2.0% 4.2% 10.8% 14.8% 12.3%
Financial Services 3.5% 12.0% 9.6% 17.9% 17.5% 15.2%
Health & Public Service -2.8% 2.8% -9.0% -1.6% 13.3% 10.1%
Products 0.8% 13.7% 13.0% 15.9% 13.9% 10.8%
Resources -2.5% 11.0% 7.5% 17.0% 26.0% 17.3%
Other -57.8% -25.0% -44.0% -7.8% 44.3% 4.5%SEQUENTIAL CHANGECommunications & High-Tech -4.2% 6.1% -1.2% 10.3% -0.8% 3.8%
Financial Services -2.5% 6.8% -3.0% 16.7% -2.7% 4.7%
Health & Public Service -10.0% 8.8% -7.6% 8.8% 3.5% 5.8%
Products 0.1% 8.5% -3.1% 10.1% -1.6% 5.5%
Resources -3.6% 8.0% 0.9% 11.3% 3.8% 0.6%
Other -33.3% 42.4% -19.1% 20.0% 4.4% 3.1%OPERATING MARGINCommunications & High-Tech 12.8% 14.3% 13.8% 15.0% 11.8% 12.2%
Financial Services 17.2% 17.5% 17.2% 18.8% 16.1% 17.0%
Health & Public Service 4.3% 8.0% 4.7% 6.2% 9.3% 10.2%
Products 11.7% 14.1% 11.9% 11.3% 9.2% 11.4%
Resources 15.7% 17.5% 16.8% 15.4% 17.2% 16.0%OPERATING INCOMECommunications & High-Tech 141,633$ 168,166$ 160,598$ 193,241$ 150,445$ 161,406$
Financial Services 185,015$ 201,235$ 191,382$ 244,581$ 204,214$ 225,231$
Health & Public Service 36,799$ 74,530$ 40,219$ 57,783$ 89,569$ 104,101$
Products 141,209$ 183,780$ 151,129$ 157,261$ 125,785$ 164,866$
Resources 146,317$ 176,119$ 170,306$ 174,069$ 201,564$ 188,496$
Total 650,973$ 803,830$ 713,634$ 826,935$ 771,577$ 844,100$ SOURCE: TBR AND ACCENTURE
ACCENTURE'S OPERATING UNITS REVENUE AND INCOME TBR
TBR
Accenture 1Q11 | Professional Services Business Quarterly ©2011 Technology Business Research, Inc.30
Appendix – Financial Models
CALENDAR QUARTER 1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 Est.FISCAL QUARTER 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 Est.NET REVENUE (IN $ MILLIONS)Americas 2,203$ 2,513$ 2,520$ 2,633$ 2,675$ 2,904$ EMEA 2,386$ 2,433$ 2,213$ 2,638$ 2,592$ 2,646$ Asia Pacific 587$ 625$ 688$ 775$ 787$ 750$ Total 5,176$ 5,571$ 5,421$ 6,046$ 6,054$ 6,300$ AS A PERCENTAGE OF REVENUEAmericas 42.6% 45.1% 46.5% 43.6% 44.2% 46.1%EMEA 46.1% 43.7% 40.8% 43.6% 42.8% 42.0%Asia Pacific 11.3% 11.2% 12.7% 12.8% 13.0% 11.9%YEAR-TO-YEAR CHANGE (IN U.S. DOLLARS)Americas -4.1% 11.0% 11.3% 18.1% 21.4% 15.6%EMEA -1.2% 3.9% -2.7% 3.4% 8.6% 8.8%Asia Pacific 6.0% 15.9% 13.1% 28.4% 34.1% 20.0%SEQUENTIAL CHANGEAmericas -1.2% 14.1% 0.3% 4.5% 1.6% 8.6%EMEA -6.4% 1.9% -9.0% 19.2% -1.7% 2.1%Asia Pacific -2.7% 6.5% 10.1% 12.7% 1.5% -4.7%
ACCENTURE'S GEOGRAPHIC REVENUE TBR
TBR
Accenture 1Q11 | Professional Services Business Quarterly ©2011 Technology Business Research, Inc.31
Appendix – Financial Models
CALENDAR QUARTER 1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 Est.Net Revenue 5,176,438$ 5,571,017$ 5,420,581$ 6,045,650$ 6,053,621$ 6,300,000$
Operating Expenses 1,039,358$ 1,127,820$ 1,131,178$ 1,117,545$ 1,145,647$ 1,171,900$
Sales & Marketing Expense 623,386$ 714,487$ 698,325$ 731,471$ 709,779$ 730,800$
General and Administrative Expense 413,335$ 410,057$ 432,793$ 385,726$ 435,499$ 441,000$
R&D Expense 81,356$ 87,557$ 85,193$ 95,017$ 95,142$ 61,729$
Restructuring Costs 2,637$ 3,276$ 60$ 348$ 369$ 100$
SALES AND MARKETING EXPENSE BREAKOUT (IN $ THOUSANDS)Sales Expense 591,040$ 680,373$ 665,555$ 696,013$ 674,290$ 694,260$
Marketing Spending 32,346$ 34,114$ 32,770$ 35,458$ 35,489$ 36,540$
Advertising 17,092$ 18,395$ 17,898$ 20,500$ 20,000$ 21,000$
Total Sales and Marketing Expense 623,386$ 714,487$ 698,325$ 731,471$ 709,779$ 730,800$
SPENDING AS A PERCENTAGE OF REVENUE Total Operating Expenses 20.1% 20.2% 20.9% 18.5% 18.9% 18.6%
Sales and Marketing Expense 12.0% 12.8% 12.9% 12.1% 11.7% 11.6%
Sales Expense 11.4% 12.2% 12.3% 11.5% 11.1% 11.0%
Marketing Spending 0.6% 0.6% 0.6% 0.6% 0.6% 0.6%
Advertising 0.33% 0.33% 0.33% 0.34% 0.33% 0.33%
General and Administrative 8.0% 7.4% 8.0% 6.4% 7.2% 7.0%
Restructuring Costs 0.1% 0.1% 0.0% 0.0% 0.0% 0.0%
CORPORATEWIDE HEADCOUNTSales 4,500 4,500 4,460 4,460 4,460 4,460
General and Administrative 13,398 13,732 14,154 14,342 14,484 16,637
Total Employees 181,436 190,442 203,860 210,951 215,388 220,500SOURCE: TBR ESTIMATES AND ACCENTURE FINANCIALS
ACCENTURE OPERATING EXPENSE MODEL (IN $ THOUSANDS) TBR
TBR
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Appendix – Financial Models
CALENDAR QUARTER 1Q10 2Q10 3Q10 4Q10 1Q11FISCAL QUARTER 2Q10 3Q10 4Q10 1Q11 2Q11Consulting 46,149 48,415 50,181 51,955 53,636
Solutions 62,085 65,911 75,791 79,028 80,814
Total Consulting & Solutions 108,234 114,326 125,972 130,983 134,450
Services 59,804 62,384 63,734 65,626 66,454
Total Billable 168,038 176,710 189,706 196,609 200,904
Enterprise 13,398 13,732 14,154 14,342 14,484
Total Headcount 181,436 190,442 203,860 210,951 215,388
SOURCE: ACCENTURE AND TBR
ACCENTURE'S HEADCOUNT BREAKDOWN TBR
62,085 80,814
59,80466,454
46,149
53,63613,398
14,484
0
50,000
100,000
150,000
200,000
1Q10 1Q11
Tota
l Hea
dcou
nt
Calendar Quarter
ACCENTURE'S HEADCOUNT
Enterprise
Consulting
Services
Solutions
Total headcount: 215388 (+18.7% YTY)
TBR
TBR
Accenture 1Q11 | Professional Services Business Quarterly ©2011 Technology Business Research, Inc.33
Financial Strategy GraphsAppendix – Graphs
1.51 1.52 1.46 1.47 1.55
0.00
0.50
1.00
1.50
2.00
1Q10 2Q10 3Q10 4Q10 1Q11
CURRENT RATIO
ACCENTURE PSBQ AVERAGE
SOURCE: ACCENTURE AND TBR
TBR
12.6%14.4%
13.2%13.7%
12.7%
0.0%
4.0%
8.0%
12.0%
16.0%
20.0%
1Q10 2Q10 3Q10 4Q10 1Q11
OPERATING MARGIN
ACCENTURE PSBQ AVERAGE
SOURCE: ACCENTURE AND TBR
TBR
0.71 0.71 0.74 0.74 0.71
0.00
0.20
0.40
0.60
0.80
1.00
1Q10 2Q10 3Q10 4Q10 1Q11
DEBT/ASSET RATIO
ACCENTURE PSBQ AVERAGE
SOURCE: ACCENTURE AND TBR
TBR
TBR
Accenture 1Q11 | Professional Services Business Quarterly ©2011 Technology Business Research, Inc.34
Financial Strategy GraphsAppendix – Graphs
13.1% 13.2%
14.6% 15.2% 15.6%
0.0%
4.0%
8.0%
12.0%
16.0%
20.0%
1Q10 2Q10 3Q10 4Q10 1Q11
RETURN ON ASSETS
ACCENTURE PSBQ AVERAGE
SOURCE: ACCENTURE AND TBR
TBR
49.9% 48.0% 52.8% 55.7% 56.3%
0.0%
20.0%
40.0%
60.0%
80.0%
100.0%
1Q10 2Q10 3Q10 4Q10 1Q11
RETURN ON EQUITY
ACCENTURE PSBQ AVERAGE
SOURCE: ACCENTURE AND TBR
TBR
TBR
Accenture 1Q11 | Professional Services Business Quarterly ©2011 Technology Business Research, Inc.35
Go-to-Market GraphsAppendix – Graphs
$5,176 $5,571 $5,421 $6,046 $6,054
$1,000
$2,000
$3,000
$4,000
$5,000
$6,000
$7,000
1Q10 2Q10 3Q10 4Q10 1Q11
In $
Mil
lions
REVENUE
ACCENTURE PSBQ AVERAGE
SOURCE: ACCENTURE AND TBR
TBR
2.49 2.43 2.49 2.49 2.44
0.00
0.50
1.00
1.50
2.00
2.50
3.00
1Q10 2Q10 3Q10 4Q10 1Q11
BACKLOG/REVENUE RATIO
ACCENTURE PSBQ AVERAGE
SOURCE: ACCENTURE AND TBR
TBR
42.96 37.97 42.08 42.38 45.67
0.00
15.00
30.00
45.00
60.00
75.00
1Q10 2Q10 3Q10 4Q10 1Q11
Num
ber o
f Day
s
DAYS SALES OUTSTANDING
ACCENTURE PSBQ AVERAGE
SOURCE: ACCENTURE AND TBR
TBR
-1.7%
8.3% 5.3% 12.3%
16.9%
-30.0%
-20.0%
-10.0%
0.0%
10.0%
20.0%
30.0%
1Q10 2Q10 3Q10 4Q10 1Q11
REVENUE GROWTH
ACCENTURE PSBQ AVERAGE
SOURCE: ACCENTURE AND TBR
TBR
TBR
Accenture 1Q11 | Professional Services Business Quarterly ©2011 Technology Business Research, Inc.36
Resource Management GraphsAppendix – Graphs
32.7% 34.7% 34.0% 32.2% 31.7%
0.0%
10.0%
20.0%
30.0%
40.0%
1Q10 2Q10 3Q10 4Q10 1Q11
GROSS MARGIN
ACCENTURE PSBQ AVERAGE
SOURCE: ACCENTURE AND TBR
TBR
20.1% 20.2% 20.9% 18.5% 18.9%
0.0%
5.0%
10.0%
15.0%
20.0%
25.0%
30.0%
1Q10 2Q10 3Q10 4Q10 1Q11
OPERATING EXPENSES AS A PERCENTAGE OF SALES
ACCENTURE PSBQ AVERAGE
SOURCE: ACCENTURE AND TBR
TBR
$117.2 $117.4 $114.7 $112.9 $112.6
$0.0
$50.0
$100.0
$150.0
$200.0
1Q10 2Q10 3Q10 4Q10 1Q11
In $
Tho
usan
ds
REVENUE PER EMPLOYEE
ACCENTURE PSBQ AVERAGE
SOURCE: ACCENTURE AND TBR
TBR
TBR
Accenture 1Q11 | Professional Services Business Quarterly ©2011 Technology Business Research, Inc.37
Resource Management GraphsAppendix – Graphs
88% 88% 86% 87% 86%
0%
20%
40%
60%
80%
100%
1Q10 2Q10 3Q10 4Q10 1Q11
UTILIZATION RATE
ACCENTURE PSBQ AVERAGE
SOURCE: ACCENTURE AND TBR
TBR
$14.3 $14.5 $15.5 $15.2 $15.2
$0.0
$5.0
$10.0
$15.0
$20.0
$25.0
$30.0
1Q10 2Q10 3Q10 4Q10 1Q11
In $
Tho
usan
ds
OPERATING INCOME PER EMPLOYEE
ACCENTURE PSBQ AVERAGE
SOURCE: ACCENTURE AND TBR
TBR
15% 17% 17% 15% 14%
0%
4%
8%
12%
16%
20%
1Q10 2Q10 3Q10 4Q10 1Q11
TURNOVER RATE
ACCENTURE PSBQ AVERAGE
SOURCE: ACCENTURE AND TBR
TBR
TBR
Accenture 1Q11 | Professional Services Business Quarterly ©2011 Technology Business Research, Inc.38
Accenture’s Recent Acquisitions
COMPANY ACQUISITION DATE ACQUISITION SYNERGIES
ESTIMATED NO. OF
EMPLOYEES
CAS Computer Anwendungs-und Systemberatung AG
January 2011CRM and mobility software for the consumer products industry that augments Accenture’s industry-specific software offerings
230
Mogenesis November 2010
Strengthens Accenture’s embedded software services capabilities N/A
Knowledge Rules, Inc.
November 2010
Enhances Accenture’s Pegasystems capabilities in key U.S. and European markets N/A
Ariba’s Sourcing Services & BPO Assets
November 2010
Purchased for $51 million, strengthens Accenture’s existing sourcing and procurement consulting and outsourcing capabilities
160
Acceria July 2010 Management consulting; complements Accenture’s automotive and industrial manufacturing capabilities 30
CadenceQuest, Inc. June 2010 Enhance vertical analytics (CadenceQuest provides customer data and analytics for the retail sector) 35
RiskControl (Brazil) February 2010
Risk consulting and software capabilities; allows Accenture to expand in the local Brazilian market N/A
Nokia’s Symbian Professional Svcs. Operations
October 2009 Consulting services for mobile operating systems; embedded software services for mobile devices 165
Appendix – Tables
TBR
Accenture 1Q11 | Professional Services Business Quarterly ©2011 Technology Business Research, Inc.39
Accenture’s Portfolio of Services MANAGEMENT CONSULTING: TECHNOLOGY: OUTSOURCING:
Service Lines• Finance & Performance
Management• Process & Innovation Performance• Talent & Organization Performance• Strategy• Customer Relationship
Management• Supply Chain Management• Risk Management
Systems Integration Service Lines• Enterprise Solutions and Enterprise
Resource Planning• Industry and Functional Solutions• Information Management Services• Cloud Computing• Custom Solutions• Software as a Service (SaaS)• Mobility Solutions• Microsoft Solutions
Technology Consulting Service Lines• Application Portfolio Optimization and
Renewal• Enterprise Architecture• IT Strategy and Transformation• Infrastructure Consulting• IT Security Consulting• Digital Solutions• Research & Development
Service Lines• Application Outsourcing• Infrastructure Outsourcing• Business Process
Outsourcing (BPO)• Bundled Outsourcing
BPO BUSINESSES:
Accenture’s industry-specific BPO businesses:• Accenture Health Administration Services• Accenture Insurance Services• Navitaire, Inc.• Accenture Utilities Services
Accenture Custom Services
Accenture’s function-specific BPO businesses that serve clients across industries are:
• HR BPO• Learning BPO• Finance and Accounting BPO• Procurement BPO
Appendix – Tables
• Customer Contact BPO• Supply Chain BPO• Engineering Services
TBR
Accenture 1Q11 | Professional Services Business Quarterly ©2011 Technology Business Research, Inc.40
Accenture’s Recent Services Announcements
SERVICE/SOLUTION DATE DESCRIPTION
1Q11
Digital Mail March 2011
Expanded line of postal services with a digital mail offering; Digital mail is a digital version of printed mail delivered to an online mailbox. Accenture will be partnering with postal agencies to offer digital post services to citizens.
Datacenter optimization and virtualization services
February 2011
Expanding partnership agreement with NetApp to develop offerings related to datacenter virtualization, application optimization and cloud-based service delivery
Accenture Public Health Platform (APHP)
January 2011
Accenture will combine its SI capabilities with Plexis’ software to offer APHP, a comprehensive, integrated solution for managing Medicaid processes.
4Q10
Accenture Digital Supply Chain Platform
December 2010
Accenture and Universal Music Group (UMG) formed an alliance in 4Q10 following a successful two-year collaboration to develop and deploy Accenture’s Digital Supply Chain Platform.
Mobile smartphone solutions December 2010
NHN Corporation, a leading South Korean Internet service provider, will partner with Accenture to introduce a suite of mobile services for NHN’s Naver mobile search engine.
Business service management solutions
November 2010
In an expansion of their existing partnership, BMC Software and Accenture will partner to develop and deliver an integrated, end-to-end IT automation and management platform designed for cloud environments.
Appendix – Tables
TBR
Accenture 1Q11 | Professional Services Business Quarterly ©2011 Technology Business Research, Inc.41
Accenture’s Recent Services Announcements
SERVICE/SOLUTION DATE DESCRIPTION
3Q10
Datacenter virtualization and collaboration
September 2010
Accenture and Cisco are expanding their relationship to offer core BPO services designed around collaboration and virtualization service delivery to firms in South Africa.
2Q10
Sales and Marketing transformation solutions May 2010
Partnering with XTEL, a European provider of sales automation solutions, Accenture will offer systems integration services for an end-to-end solution for transforming organizational sales and marketing processes.
Public center pension solution April 2010
Along with CedarCrestone, a provider of implementation services, Accenture will offer its expertise to support Oracle’s development of its Public Sector Pension Solution.
1Q10
SAP application management service
February 2010
Along with Verizon Business, Accenture will offer an end-to-end service for managing SAP applications and its corresponding network structures.
Child welfare and protective services solution
January 2010
Working with Oracle, Accenture will offer a comprehensive, integrated case management solution for child welfare agencies.
Appendix – Tables
TBR
Accenture 1Q11 | Professional Services Business Quarterly ©2011 Technology Business Research, Inc.42
CLIENT DATE DESCRIPTION YEARS CONTRACT VALUE
1Q11
RSAUnited Kingdom April 2011
Contract extension to provide insurance process BPO services, including portions of RSA’s sales and service, claims, finance and commercial administration functions that support RSA’s direct, affinity and broker customers
4 N/A
Marathon Petroleum CompanyUnited States
April 2011Accenture is deploying its Life Safety Solution at client’s refinery in Robinson, Ill. The gas and chemical hazard solution utilizes wireless technology to connect and alert workers of potentially hazardous environments.
N/A N/A
Israel Electric CorporationIsrael
March 2011
Accenture will provide IEC with Consulting & SI services on six projects, including roadmaps, application systems, a smart electrical grid, business intelligence, enterprise architecture and business continuity.
2 N/A
City of London CorporationUnited Kingdom
March 2011
Accenture will develop and implement a shared service center for the city’s procurement and sourcing functions.
5 N/A
Consip SpaItaly
February 2011
Accenture will develop, build and maintain an eProcurement system to support the Italian government‘s overall procurement operations.
4 $6 million
Accenture’s Quarterly SigningsAppendix – Tables
TBR
Accenture 1Q11 | Professional Services Business Quarterly ©2011 Technology Business Research, Inc.43
Accenture’s Quarterly SigningsCLIENT DATE DESCRIPTION YEARS CONTRACT
VALUE
Lan CargoUnited States
February 2011
Accenture will implement a cargo reservation solution to streamline Lan Cargo’s order fulfillment processes. N/A N/A
Carlsberg BreweriesDenmark
January 2011
Accenture will support Carlsberg’s companywide IT infrastructure transformation through a variety of C&SI, application development, and SAP and Oracle implementation services.
5 N/A
4Q10
Nagaland State GovernmentIndia
December 2010
Accenture will implement and manage the state’s public service portal, state service delivery gateway and e-forms to help facilitate the delivery of services offered by multiple government departments.
42 Months N/A
Hilton WorldwideUnited States
December 2010
Accenture will provide Hilton Worldwide with application development and support services for client’s property management systems and websites.
multiyear N/A
National Water CompanySaudi Arabia
December 2010
Accenture will provide a suite of Oracle-based solutions, maintenance and support and change management services to modernize the client’s waste water service operations in Riyadh and Jeddah.
N/A N/A
Ace Private Risk ServicesUnited States
December 2010
Accenture’s claims management application (Accenture Claim Components) was selected to support ACE‘s claims management operation in the U.S.
N/A N/A
KF Shared Services ABSweden
November 2010
Accenture will provide BPO services in finance and accounting in support of improving KF Shared Services AB’s cost-effectiveness and delivery capabilities.
6 N/A
Appendix – Tables
TBR
Accenture 1Q11 | Professional Services Business Quarterly ©2011 Technology Business Research, Inc.44
Accenture’s Quarterly Signings
CLIENT DATE DESCRIPTION YEARS CONTRACT VALUE
Proton HoldingsMalaysia
November 2010
Accenture will expand and improve the client’s enterprise resource planning (ERP) system. 21 months N/A
Centers for Disease Control and Prevention United States
November 2010
ID/IQ contract; Accenture was selected as the prime contractor to provide information management and IT infrastructure services.
10$3 billion and
$1 billion ceilings
American WaterUnited States
November 2010
Accenture will assist in the development of a strategy for the company’s business transformation program. N/A N/A
Allianz Life Insurance CompanyUnited States
November 2010
Allianz Life Insurance Company selected Accenture to license and implement the Accenture Life Insurance Platform to enhance product development and improve customer services.
N/A N/A
SEC SERVIZIItaly
November 2010
Accenture will develop and implement a new risk calculation engine to help the bank consortium’s clients and members assess the probability of loan defaults.
N/A N/A
Olympus Memory WorksJapan
November 2010
Accenture will provide ongoing support for strategic planning, systems integration, development using a public cloud computing environment and BPO services.
N/A N/A
RSAUnited Kingdom
October 2010
Contract extension in which Accenture will continue to provide development, implementation and ongoing maintenance services for RSA’s IT applications.
Additional 3 N/A
Appendix – Tables
TBR
Accenture 1Q11 | Professional Services Business Quarterly ©2011 Technology Business Research, Inc.45
Accenture’s Quarterly SigningsCLIENT DATE DESCRIPTION YEARS CONTRACT
VALUE
Caja de Ahorros del MediterráneoSpain
October 2010
Accenture will implement its Alnova Financial Solutions core banking platform to support the bank’s operations in Spain.
N/A N/A
Singapore’s Energy Market Authority
October 2010
Along with ST Electronics, Accenture has been selected to design and implement Phase 1 of the client’s Intelligent Energy System pilot project (advanced metering infrastructure and smart grid).
N/A N/A
Takeda Pharmaceuticals North AmericaUnited States
October 2010
Accenture will provide application and infrastructure outsourcing services, including development, testing and management services as well as end-user computing and network management.
Multiyear N/A
Zurich Financial Services GroupSwitzerland
October 2010
Zurich Financial Services will apply Accenture’s underwriting solution to support its international insurance operations.
N/A N/A
U.S. Social Security AdministrationUnited States
October 2010
Accenture won a bid as the prime contractor under the Information Technology Support Services Contract (ITSSC), which will enable Accenture to apply innovative applications in streamlining the SSA’s service delivery capabilities.
1 year base period, 6
additional 1-year options
$2.8 billion
3Q10
Baltimore Gas and Electric (BGE)United States
September 2010
BGE teamed with Accenture and Oracle to implement a smart meter network for its 1.2 million customers. Accenture will provide SI (design, build and manage), project management support and change management.
N/A N/A
Appendix – Tables
TBR
Accenture 1Q11 | Professional Services Business Quarterly ©2011 Technology Business Research, Inc.46
Accenture’s Quarterly SigningsCLIENT DATE DESCRIPTION YEARS CONTRACT
VALUE
Singapore Energy Market Authority (EMA)Singapore
September 2010
Accenture has been selected by the EMA to design and implement Singapore’s Intelligent Energy System project. This system is intended to enable households to monitor energy consumption and reduce overall usage.
2 Multimillion
DnB NORNorway
September 2010
Accenture signed an agreement to develop, implement and manage the financial services group’s life and pension insurance applications.
5 N/A
National Australia GroupAustralia
September 2010
Accenture extended its contract with the subsidiary of National Australia Bank for application development and management services to a range of the bank’s enterprise and customer applications.
3 N/A
U.S. Defense Logistics Agency (DLA)United States
September 2010
Accenture was awarded a contract by the DLA to integrate the group’s energy supply chain into its Enterprise Business System program, intended to streamline the DLA’s logistics and distribution platform.
4 $73 million
Stanford Hospital & Clinics United States
September 2010
Accenture was selected to work with Stanford to improve clinical processes and develop new analytic tools for patient-centric solutions.
7 N/A
Educational Testing Service (ETS)United States
August 2010
Accenture extended its contract with the ETS to continue offering BPO services in end-to-end supply chain management. 7 $160 million
Norsk Hydro ASANorway
August 2010
Accenture signed an application outsourcing contract with the client to provide support and maintenance services to two of Hydro’s SAP systems.
3 N/A
Appendix – Tables
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Accenture 1Q11 | Professional Services Business Quarterly ©2011 Technology Business Research, Inc.47
Accenture’s Quarterly Signings
CLIENT DATE DESCRIPTION YEARS CONTRACT VALUE
University of North Texas System (UNTS)United States
August 2010
Selected to assist in the planning phase for development and implementation of an IT and HR/payroll shared service for UNTS across campuses and offices
Multi-year N/A
Singapore Ministry of HealthSingapore
August 2010
Accenture was awarded a contract to deploy the National Electronic Health Record system for Singapore, which is designed to improve healthcare quality and lower costs.
N/A N/A
Unique Identification Authority of India (UIDAI) India
July 2010Accenture will implement the biometric identification system, a component of the “Aadhaar” program designed to offer Indian residents a unique ID number.
2 N/A
Sun Life Assurance Company of CanadaCanada
July 2010Provide application development and management services in support of the Sun Life Financial group subsidiary’s operations in Canada
Multi-year N/A
Taxation and Customs Union Directorate GeneralBelgium
July 2010
Accenture was awarded a contract to provide IT systems management and development for the European Commission’s CUST-DEV2 program, a platform for an eCustoms system for use by 2013. Accenture will manage the legacy customs system and specifications for the new platform.
3 N/A
Statoil Norway July 2010 Statoil awarded Accenture a BPO contract to manage
Accounts Payable processes for the energy firm. 5 N/A
Appendix – Tables
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Accenture’s Quarterly Signings
CLIENT DATE DESCRIPTION YEARS CONTRACT VALUE
2Q10AspreaUnited Kingdom
June 2010Applications outsourcing (development and management) and infrastructure outsourcing (service desk, workplace, network and telephony, and datacenter service)
8 N/A
IRSUnited States June 2010
The IRS awarded Accenture a one-year contract to create a system for online registration and renewal to improve the quality and efficiency of paid tax return preparers.
1-year base order (four 1-year options)
N/A
HenkelUnited States June 2010 Accenture will provide application management services to
Henkel’s operations in North America. 6 N/A
Hong Kong Housing AuthorityChina
June 2010Accenture will provide its services to design, develop and maintain a new enterprise resource management (ERP) system to improve the efficiency of the processes for financial management in two phases.
8 $30 million
U.S. NavyUnited States June 2010 Accenture was awarded a contract to provide financial
management services to the U.S. Navy.1-year base
order (four 1-year options)
Up to $182 million
University of MichiganUnited States
May 2010
Accenture will work with the University of Michigan on a comprehensive assessment of IT at a campus level and how it is distributed and provided across campus. They will be striving to improve interoperability of applications and achieve more efficient products, infrastructure and services.
N/A N/A
Appendix – Tables
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Accenture 1Q11 | Professional Services Business Quarterly ©2011 Technology Business Research, Inc.49
Accenture’s Quarterly SigningsCLIENT DATE DESCRIPTION YEARS CONTRACT
VALUE
Media Prima BerhadMalaysia
May 2010Accenture has helped Media Prima update its legacy broadcast system with state-of-the-art technology, which has led to better time to market, higher productivity and more efficient operations.
N/A N/A
SICREDIBrazil May 2010 Accenture will provide SICREDI, a credit union in Brazil,
with IT support and systems development services. N/A N/A
Anadolu SigortaTurkey May 2010
Accenture will license, implement and maintain the Accenture Claims Components Solution (a claims management application) for the Turkish property and casualty insurer.
N/A N/A
Ministry of EducationSingapore
April 2010Accenture will update Singapore schools’ web-based administrative system by enhancing the existing business processes and providing application maintenance.
3 N/A
XL InsuranceUnited States April 2010
Implement a centralized global claims management system and update core claims-processing to improve customer service and reduce costs.
N/A N/A
Electrolux IT Solutions ABSweden
April 2010Accenture has been awarded a contract to update Electrolux's current portfolio of enterprise applications and provide application development and management services.
Multiyear N/A
Appendix – Tables
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Accenture’s Quarterly Signings
CLIENT DATE DESCRIPTION YEARS CONTRACT VALUE
Hanwha GroupSouth Korea April 2010
Accenture will provide technical assistance (application management) to the Korean Bank. The two companies will partner to market IT solutions and services to other banks, insurers and other financial service companies throughout South Korea.
8 $80 million
Telefonica GroupArgentina
April 2010Accenture will manage the development and maintenance of applications related to consumer systems, billing and collections across 17 markets in Latin America and Europe.
N/A N/A
NordeaDenmark April 2010
An application outsourcing contract to develop and maintain applications that support the bank’s customer websites (30 websites).
5 N/A
U.S. NavyUnited States April 2010
Accenture National Security Services will provide accounting and financial management services to the Navy as part of its financial improvement program.
1 base plus 4 one-year
options
$40.6 billion base; $181.8 billion total
Appendix – Tables
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Accenture 1Q11 | Professional Services Business Quarterly ©2011 Technology Business Research, Inc.51
Accenture’s Strategic Alliances by Client Service Business
APPLICATION INFRASTRUCTURE:Avanade BEA/OracleEMC/DocumentumMicrosoft
BUSINESS OPERATIONS:Business ObjectsCitrix SystemsComverseEpitome SystemsInterwovenManagement ControlsVignette
CUSTOMER RELATIONSHIP MANAGEMENT:Siebel Systems (part of Oracle)KXEN
DATA WAREHOUSING:Acxiom Teradata OracleInformaticaSymantec
ENTERPRISE INTEGRATION:BEA/OracleMicrosoft TIBCO webMethodsAT&T Business Services
ENTERPRISE MANAGEMENT:Oracle PeopleSoft (part of Oracle)SAPSun MicrosystemsAprimo
FINANCE MANAGEMENT AND ENTERPRISE PERFORMANCE MANAGEMENT:Cognos/IBMCallidus Software
HUMAN RESOURCE MANAGEMENT:PeopleSoft HR (part of Oracle)SAP HRSiebel Employee Relationship Management (part of Oracle)Advantage Interactive Corporation
PLATFORM:EMCHP Sun MicrosystemsCisco SystemsUnica
SUPPLY CHAIN MANAGEMENT:Ariba Aspen Technology PeopleSoft (part of Oracle)SAP
OTHER:Reuters GroupMercury/HPDaonFast Search & Transfer (FAST)SASDellGenesys
IBM Hardware and Software TechnologyIntecOpen Text Telcordia TechnologiesVendavoXign
Appendix – Tables
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TBR’s Showcase of Major Accenture Alliances
COMPANY SCOPE OF PARTNERSHIP
Oracle Oracle’s Fusion Middleware was integrated into the Accenture Communications Solutions suite. The partnership targets the telecommunications industry, allowing Oracle to prepackage its solutions for telecom customers while Accenture provides support from a systems integration perspective.
SAP
• Since 2003, SAP and Accenture have been jointly developing, deploying, supporting and selling software products and services for banks and insurance companies worldwide. Initially, the joint portfolio consisted of the companies’ banking and insurance software products, which cover business functions such as insurance claims management, insurance policy administration, core banking operations and risk management.
• SAP and Accenture have assigned approximately 800 people to the combined development effort. The IT experts are located in Germany, Spain and the United States. Revenue is split according to services purchased by the customer.
Microsoft/Avanade
• Since the 2000 announcement of the Microsoft and Accenture (then Andersen Consulting) global alliance and the formation of a joint venture – Avanade – to deliver enterprise solutions on the Microsoft platform, including Windows 2000 Server, TBR believes the global alliance has been capitalizing on the unique assets of Accenture, Avanade and Microsoft.
• The alliance combined scalable enterprise software from Microsoft, Avanade’s deep Microsoft based skills ‑focused on technology infrastructure optimization and application development and integration, and the industry-specific business and technology expertise of Accenture consultants.
• Accenture Customer Relationship Management Solutions for Siebel on Microsoft.NET is a good example of the joint solutions the alliance has been offering the marketplace. The solutions take advantage of the Microsoft platform’s scalability and are efficient for Siebel applications. CRM solutions also benefit from the lower total cost of ownership provided by reduced hardware acquisition fees and overall lower operating costs.
Appendix – Tables
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Accenture’s Org. StructureAppendix – Tables
SOURCE: ACCENTURE AND TBR
TBR
Pamela J. CraigChief Financial Officer
Kevin M. CampbellGroup Chief Executive
Technology
Sander van’t Noordende Group Chief Executive
Management Consulting &Global Markets
GROWTH PLATFORMS
Martin I. ColeGroup Chief Executive
Communications
Jean-Marc OllagnierGroup Chief Executive
Resources
Gianfransco CasatiGroup Chief Executive
Products
Stephen J. Rohleder Group Chief Executive
Health & Public Service
OPERATING GROUPS
Richard LumbGroup Chief Executive
Financial Services
Johan (Jo) Deblaere Chief Operating Officer
Shawn Collinson Chief Strategy & Corporate
Development Officer
Pierre NantermeChief Executive Officer
Roxanne TaylorChief Marketing & Communications
Officer
Julie Spellman SweetGeneral Counsel, Secretary& Chief Compliance Officer
.Jill B. Smart
Chief Human Resources Officer
CORPORATE FUNCTIONS
K.C. McClureInvestor RelationsManaging Director
Thomas PikeChief Risk Officer
Adrian LajthaChief Leadership Officer
Basilio RuedaGlobal Delivery Network
Senior Managing Director
David C. ThomlinsonSr. Managing Director
Geographic Strategy & Operations
GEOGRAPHIES AND GLOBAL DELIVERY
Harsh Manglik Managing Director
IndiaMichael J. Salvino
Group Chief Executive BPO Robert N. FrerichsGroup Chief Executive
North America
Donald J. RippertChief Technology Officer &
Managing Director of Technology
Oliver Benzecry Managing Director
U.K. & Ireland
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Accenture 1Q11 | Professional Services Business Quarterly ©2011 Technology Business Research, Inc.54
Physical Infrastructure and Worldwide Locations
ACCENTURE’S LOCATIONS
AMERICAS
Buenos Aires, ArgentinaCuritiba, BrazilNiagara Region, CanadaToronto, Canada Bogotá, Colombia
Rio de Janeiro, BrazilCalgary, CanadaMississauga, CanadaToronto West, CanadaMexico City, Mexico
Sao Paulo, BrazilEdmonton, CanadaMontreal, CanadaVancouver, CanadaMonterrey, Mexico
Brasilia, BrazilFredericton, CanadaOttawa, CanadaSantiago, ChileCaracas, Venezuela
THE UNITED STATES
PhoenixSan FranciscoWilmington, Del.Tampa Bay/ St. Petersburg, Fla.Kansas City, Kan.Reston, Va.PittsburgFlorham Park, N.J.Raleigh, N.C.Philadelphia
Los AngelesSan Jose, Calif.Walnut Creek, Calif.Washington D.C.AtlantaBostonHoustonDetroitAlbany, N.Y.CincinnatiDallas
Sacramento, Calif.DenverMiamiChicagoMilwaukeeIrving, TexasMinneapolisNew York CityClevelandMurray Hill, N.J.
San DiegoHartford, Conn.Tallahassee, Fla.IndianapolisSeattleAustin, TexasSt. LouisCharlotte, N.C.Columbus, OhioSan Antonio
Appendix – Tables
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Physical Infrastructure and Worldwide Locations
ACCENTURE’S LOCATIONS
EMEA
Wien, AustriaHelsinki, FinlandFrankfurt, GermanyAthens, GreeceHerzelia, IsraelLuxembourgBergen, NorwayWarsaw, PolandMoscow, RussiaJohannesburg, South AfricaMadrid, SpainStockholm, SwedenLondon, United Kingdom
Brussels, BelgiumParis, FranceBerlin, GermanyBudapest, HungaryMilan, ItalyCasablanca, MoroccoLillehammer, NorwayLisbon, PortugalRiyadh, Saudi ArabiaPretoria, South AfricaSevilla, SpainZurich, SwitzerlandAberdeen, United KingdomManchester, United Kingdom
Prague, Czech RepublicLyon, FranceDusseldorf, GermanyDublin, IrelandRome, ItalyAmsterdam, The NetherlandsOslo, NorwayMoreira da Maia, PortugalBratislava, Slovak RepublicBarcelona, SpainGoteborg, SwedenIstanbul, TurkeyEdinburgh, United KingdomNewcastle, United Kingdom
Copenhagen, DenmarkSophia Antipolis, FranceMuenchen, GermanyBelfast, IrelandTurin, ItalyLagos, NigeriaStavanger, NorwayBucharest, RomaniaCape Town, South AfricaBilbao, SpainMalmo, SwedenAbu Dhabi, The United Arab Emirates
ASIA PACIFIC
Brisbane, AustraliaSydney, AustraliaGuangzhou, ChinaChennai, IndiaNew Delhi, IndiaTokyo, JapanSeoul, South Korea
Canberra, AustraliaWollongong, AustraliaHong Kong, ChinaGurgaon, IndiaNoida, IndiaKuala Lumpur, MalaysiaTaipei, Taiwan
Melbourne, AustraliaBeijing, ChinaShanghai, ChinaHyderabad, IndiaPune, IndiaManila, The PhilippinesBangkok, Thailand
Perth, AustraliaDalian, ChinaBangalore, IndiaMumbai, IndiaJakarta, IndonesiaSingapore, Singapore
Appendix – Tables
TBR
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