Accenture Opens Digital Hub in Singapore, Expands Globally
Accenture Plc ACN recently debuted the Digital Hub in Singapore, intended for co-creating innovations with clients by bringing together digital technologies with top business ideas. The move is part of the company’s efforts to bolster digital marketing capabilities.
The Digital Hub combines Accenture Interactive, analytics and mobility platform, part of the company's digital marketing-services arm, Accenture Digital, with enterprise-relevant digital technologies. The Accenture Digital Hub includes technology development, design and usability services to solve mission critical business problems, while enhancing customer experiences, consequently helping them to attain their goals.
According to the company, “We’ve designed the Accenture Digital Hub in Singapore to serve as a catalyst for clients who want to co-create leading-edge customer experiences with us.”
The latest move is anticipated to further boost Accenture’s ability to help clients design and create physical products. The launch of the Digital Hub in Singapore will not only bring in a huge talent pool of professional, but will also expand reach in the region and commitment to Singapore clients.
With this launch, the company will be able to help clients in creating, managing, integrating and analyzing value-focused solutions, thereby reducing cost and giving clients heightened responsiveness to change.
Bottom Line
Accenture stock has gained 15.1% year to date, substantially outperforming the 14.6% growth of the industry it belongs to.
The company’s long-term prospects look promising owing to sustained focus on innovative product roll outs, consistent investments in enhancing digital and marketing capabilities, along with major acquisitions. Moreover, we believe that regular acquisitions will significantly contribute to the revenue stream.
Additionally, the company is focusing on building partnerships which is helping it foray into newer markets, diversify and broaden the product portfolio. Most recently, Apple Inc. AAPL and Accenture joined forces to create a mixed team of designers, programmers, and other Apple experts, within Accenture Digital Studios units in select locations globally.
Meanwhile, Accenture’s recent announcement of creating 15K new jobs by 2020 and investment plan of $1.4 billion for employee training and opening of 10 innovation centers across the U.S. cities may dent bottom-line results. Increasing competition from the likes of DXC Technology Company DXC and Cognizant Technology Solutions Corporation CTSH, and an uncertain macroeconomic environment may deter the company’s growth to some extent.
Currently, Accenture carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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