Accenture Buys Advocate Networks LLC, GA-based technology consultancy and MSP partner
Accenture (NYSE: ACN) has recently acquired Advocate Networks LLC. Advocate is a leading tech consultancy firm with a large market cap as a managed service provider (MSP). Advocates Technology Business Management (TBM) helps a large client base to create value and opportunity for cost-saving and modernising their platform. The acquisition is a brilliant addition to Accenture's business strategy and let us tell you why.
Julie Sweet, Chairman and CEO of Accenture, believes in what they" do and our impact on our clients and communities. It is personal to all of us." This acquisition is quite common in the tech business, helping upgrade service to a vast list of customers. Accenture's global tech, strategy and advisory lead Greg Douglass said, "Advocate has intellectual property built into their assets with algorithms to analyse a company's spending on technology and spending patterns."
Advocate is a small service provider that brings technical support to business management to its clients. One of the core parts of being an MSP is introducing business clients to technological advancements to leverage colossal potential. Even though services are not sold online, the business may benefit from having an online footprint and connectivity. Companies or services started an online frontier after they finally trusted an MSP partner to bring them into the digital space. Later this kind of effort turned it into an online-sided business, which kept giving revenue through the pandemic. Accenture already had a plan for business intelligence management practice before the buyout of Advocate.
Accenture and Advocate Networks LLC's collaboration will expand Technology business Management capabilities to a new level. Advocate LLC has more than 85 professionals joining Accenture's Technology Strategy and Advisory practice. Advocate is headquartering in Norcross, where Accenture will lead from now on. Accenture brought home a full suite of services that helps organisations and deep technological expertise with this purchase.
Keith Boone, Accenture's NA technology strategy and advisory lead, talked about the organisation expecting their technology investment to "fuel innovation and transform business operations and are increasingly adopting TBM principles optimised spending, proper delivery and demonstrate immediate strategic business value." TBM-as-a-service (TBMaaS) complements Accenture's cloud and digital capabilities along with security, end-to-end encryption, FinOps and other specialised services capable enough to lift business to a new level.
Accenture Newsroom published a final report if you're interested in checking it out. Accenture is a global professional services company with cloud, digital and security facilities. They are crucial for businesses adapting to the modern footprint. TBM capabilities allow businesses to monitor and manage their IT spending and track value properly. Spending on technology can get out of hand quickly if not properly monitored. Accenture shares grew 8.3 per cent, with 9.2 per cent of the total industry growth and a 3.7 per cent loss of the Zacks S&P 500 composite. Currently, Accenture holds #3 (Hold) on the concurrent list of Zacks #1 Rank (strong buy stocks).
The final verdict can come as a surprise while pressing the budget in front of the board. That's why modern businesses try to better utilise their gains by running default routines with TBM capabilities. Popular cloud providers such as AWS, GCS or Azure have specific plans for your need. Specialised MSPs enable these features for your business to leverage its full potential along with security and good customisation options. Success optimisation in the business-tech space is knowing the strength and weaknesses and the capability to adapt. Accenture's acquisition of Advocate Networks LLC brings in the specialities needed to serve customers properly with the missing features they could offer.