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Tag: Accenture

  • ‘Accenture ‘ll keep enhancing Africa’s digital transformation’

    Accenture, a global management consultancy firm and Oracle’s first diamond partner, has promised to continue to enhance digital transformation and business efficiency through the application of relevant solutions in Nigeria and Africa.

    Oracle Alliance Lead, Accenture, Olatunde Olajide who spoke in Lagos said the firm has been at the forefront of the digital disruption process with innovative solutions that has helped telecom companies and other organisations to transform their businesses through effective customer interaction and also to make profits.

    Olajide said the Accenture works with all the major companies in the world as its clients offering solutions that help these organisations to improve on customers’ relationship, know their profile, their data plan, how much usage has been made, and then be able to discern a product that meets their needs based on data that has been harnessed as well as the interactions made.

    He spoke at this year’s Oracle Day with Digital Disruption as it’s theme. He said Accenture is a co-innovator with Oracle which it has partnered with for about 30 years and that the company is very close to its clients globally, understands what they want and together with Oracle addresses needs of these customers. While making a presentation on digital transformation, he stated that in any given technology revolution, changes enabled by technology propagate too many aspects of economic, political, business and personal life.

    On how technology would enhance economic activities, he said the firm has made labour less important as production capital, led to collaborative consumption, and a rise in the role of internet protocol and a shift from venture capital to equity and public funding with examples in the area of fiber optic deployment and smart cities.

    Olajide said emphasis is now on data, new sources of value: attention, identity, reputation, social graph, machine intelligence, robots, genetic modeling, new buyer values, change in control points and a winner takes all phenomena. And on institutional changes, he said digital disruption has led to new types of competition among countries, changes in concepts of employment, approaches to work, privacy and identity concerns as well as educational learning pattern with the help of the Internet.

    He said digital technologies are already beginning to affect many aspects of social life through social media interaction, and online shopping and buying processes.

    According to him, platforms such as Twitter, Google, Facebook, and others constitute a  paradigm shift ading that what gives them power is their ability to grow, specifically, in speed to scale.

    He said even politics is also increasingly being transformed by digital capabilities adding  that the banking sector is not left out in the digital disruption process as GTBank, through the social media introduced has its ‘social banking’ service on Facebook.

  • Accenture expands enterprise service

    Accenture has acquired PureApps, a UK-based Enterprise Performance Management (EPM) provider that helps clients use financial insight and analysis to improve organizational effectiveness through better cost management and strategy execution.

    The acquisition will strengthen Accenture’s end-to-end EPM capabilities and enable Accenture to help CFOs transform the finance function using emerging digital technologies. Terms of the transaction were not disclosed.

    PureApps specialises in implementing performance management solutions based on the Oracle Hyperion Enterprise Performance Management and Oracle Business Analytics range of products. The company enables CFOs to report and analyze enterprise performance, accurately forecast business results and work with business units to transform these insights into action. Its solutions integrate strategy, planning and execution across management and operational systems.

    PureApps will be integrated into Accenture’s Finance and Enterprise Performance practice, part of Accenture Strategy. PureApps’s technical capabilities will complement Accenture’s extensive consulting expertise for the finance function, including its global shared services offering.

  • Transformation of sector key to growth, says Accenture

    Transformation of sector key to growth, says Accenture

    The insurance industry will tap into huge revenue only through a transformation and positioning of the sector, Accenture has revealed.

    The global management consulting, technology services and outsourcing company, said its survey titled: Consumer innovation survey on insurance demonstrates that  customers want relevant, convenient and cost-efficient products that address their buyer values and needs.

    The survey carried out shows that the predominant insurance product uptake by 1.5 per cent of the population that is insured is motor value  insurance.

    Another survey across various geographies also indicates that 67 per cent of customers would consider buying insurance from organisations other than traditional insurance companies, while indicating that insurers must take the offensive, make some bets and take some calculated  risks to attract and acquire new customers and to retain the customers they already have.

    It said: “The revenue potential for the industry is significant but will only be realised through deliberate transformation and positioning that enhances all channels and experiences.

    “Companies that transform their technologies as well as underlying business models will be  equipped to deliver the experiences that customers will increasingly expect and demand. Only true digital transformation at a strategic level will let customers define their own experiences rather than simply provide products for them to buy.”

    Accenture recalled that the EFInA Access to Financial Services in the Nigeria 2012 survey confirms that while 28.6 million adult Nigerians are banked, representing a banked population of 32.5 per cent of the adult population, only 1.3 million adults, 1.5 per cent of the population have personal insurance.

    As a result of the deliberate collaborative strategy and individual actions by banks to focus on specific un-banked and under-banked groups, the banking sector is well on track to dent the financial exclusion trap and to increase banking inclusion to 80 per cent by 2020.

    The industry is over-concentrated on intensively competitive, over-sold and narrow-margin corporate underwriting, dominated by brokers while under-serving and under developing personal risk underwriting.

    The same report indicates that the areas where risks are experienced which in turn imply a high need for insurance have extremely low insurance uptake.

    Accenture said: “There is an opportunity for the industry to translate the areas of acknowledged need to effective demand for risk cover.”

    Some of its key finding shows that insurance must be ‘sold’ and the driver for growth in insurance are effective selling predicated on clear customer segmentation and customer-centric strategies. Also, optimal sales performance insurance is achieved by knowledge-based customer insight, enabled by the combination of distinctive sales methods and supporting sales tools.

    On youths and insurance, Accenture said: “With the demography of the Nigerian population, clearly a successful digital positioning will be necessary for insurers to realise the opportunities offered by the younger generation.”

  • Accenture wants ICT in education curriculum

    Global management consulting, technology services and outsourcing firm, Accenture, has called for the integration of information communication technology (ICT) into school curriculum in the country. The firm said it was totally committed to providing support for students with creative minds.

    According to a statement, the Country Managing Director of Accenture Nigeria represented by Taiwo Olatunji, said effective integration of ICT into educational system and schools will improve the quality of lives of the people and successfully drive and sustain economic development, productivity and per-capita income.

    “In the last decade, countries have advanced through an aggressive development of technology capacity. This is evident from the rapid economic development of India and South Asian countries due to their deliberate policy and actions on technology capacity building,” he said.

    He encouraged the students to go global, get familiar with new technology and make positive use modern technology that are available all over the world adding that students should also take advantage of new media to improve their reading and writing habits.

    “The institution has prepared you for the labour market, so go out there and use this knowledge to enrich lives and create wealth, Accenture will continue to give support in areas that will improve students capacity in all higher institution in Nigeria,”Taiwo added.