) recently announced that it has clinched a 5-year service
agreement with a financial service group, Nordea. Financial terms
of the deal were not disclosed.
Per the contract terms, Accenture will develop advanced
applications for smooth operational tasks involving risk
management, treasury, human resources and procurement management.
Also, the company will supervise the existing applications.
The scope of the agreement also requires Accenture to carry on
the task of supporting Nordea's Basel II compliance reporting
system. This Basel II agreement was inked some time back and has
now been extended.
Apart from this, Accenture's service was selected by India's
Department of Electronics & Information Technology (DeitY). Per
the contract, Accenture will develop a program whereby the
government agency could compare details of technology providers and
investors vying to develop a semiconductor facility in India.
Through the help of the tailor-made system, the agency will be able
to choose the best firm for handling the task.
Last week, District of Columbia opted for Accenture's support to
meet its health care reform deadlines.
Accenture's comprehensive service offerings have made it one of
the key IT service providers. A large product and service base has
also lent the company a leading edge in the competitive market.
Accenture has regularly won deals from all industrial sectors as
well as the federal vertical.
Though Accenture's deal prospects look bright, its large number
of government deals (which carry low margins), stiff competition
) and significant European exposure may temper its growth going
Currently, Accenture has a short-term Hold rating, denoted by
the Zacks #3 Rank.
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