The acquisition is expected to strengthen Accenture’s existing industry consulting and technology capabilities
Headquarters Accenture ASG, Campus Kronberg, Germany. (Credit: Christoph Wagener/Wikipedia)
Accenture has acquired BCS Consulting to strengthen its financial services consulting and technology services capabilities in the UK.
However, the terms of the transaction have not been disclosed by the company.
Headquartered in London, BCS Consulting is a management consultancy engaged in delivering complex business change programmes for the UK financial services companies across technology, finance, operations and risk and regulation.
The company currently employs 250 people, who will be moved to Accenture’s UK Financial Services Strategy and Consulting practice.
Founded in 2001, BCS Consulting has industry advisory expertise in areas including payments, open banking, operational resilience, financial crime and cost optimisation.
The acquisition is expected to strengthen Accenture’s existing industry consulting and technology capabilities.
It adds to the Irish-based company’s recent financial services acquisitions that include Mudano, Orbium and Parker Fitzgerald to expand its client offerings.
Accenture acquired Mudano, a data consultancy to UK financial services firms, to enhance its analytics, data and artificial intelligence (AI) transformation capabilities.
The Mudano acquisition was announced in February last year, while Orbium and Parker Fitzgerald were purchased in 2019.
Accenture’s UK financial services strategy and consulting practice managing director Adam Markson said: “Financial services firms continue to contend with core challenges that have been intensified by the pandemic, such as unmanageable cost levels and digital disruption.
“BCS Consulting has a strong track record helping firms address these issues. From designing solutions to technology implementation, BCS Consulting’s end-to-end capabilities help the sector create business models that drive new efficiencies and competitiveness, bolster resilience and keep pace with change.”
The acquisition of BCS Consulting is the sixth for Accenture in the UK this year.
Its other acquisitions include Edenhouse and Infinity Works in February, Cirrus and REPL in March and Xoomworks in October.
Xoomworks is a consulting and technology firm that specialises in procurement technology, digital innovation and software solutions development.