Accenture: BP Contract

By Rob Starr, Content Manager, Big4.com

Under a new agreement, Accenture will help BP consolidate its global F&A function through standardized reporting and metrics and by using advanced analytics to improve business controls and drive greater insights into the business. Arthur Hanna, managing director of Accenture’s Energy industry group comments:

“BP’s decision to select Accenture reflects our continued commitment over the past two decades to helping BP achieve its business objectives,” he said. “We will continue to draw on our industry knowledge, leverage our capabilities worldwide and bring innovation to support BP’s finance function.”

BP has selected Accenture (NYSE: ACN) as its global outsourcing provider of finance and accounting (F&A) services to complement its in-house captive business service centers. Terms of the multi-year agreement were not disclosed. Specifically, Accenture will be responsible for providing record to report, order to cash, procure-to-pay and production revenue accounting services.

Accenture is a global management consulting, technology services and outsourcing company, with more than 249,000 people serving clients in more than 120 countries.  Combining unparalleled experience, comprehensive capabilities across all industries and business functions, and extensive research on the world’s most successful companies, Accenture collaborates with clients to help them become high-performance businesses and governments.  The company generated net revenues of US$25.5 billion for the fiscal year ended Aug. 31, 2011.  Its home page is www.accenture.com.