Accenture has announced the acquisition of provider of strategic sourcing and procurement services, Insight Sourcing, to expand its capabilities for private equity companies and the consumer goods, retail and technology industries.
The Georgia-based consultancy specializes in helping its clients optimize costs when sourcing and negotiating contracts for direct materials (e.g. metals, electronics, food ingredients, chemicals, clinical services), indirect materials (e.g. logistics, packaging, IT, marketing), services related to capital expenditures (e.g. construction, facility equipment) and energy procurement management.
This acquisition is poised to strengthen Accenture’s work with added expertise in cost takeout strategy, powered by category and supplier market intelligence. Insight Sourcing will also add approximately 220 sourcing consultants to Accenture’s sourcing and procurement practice within the supply chain and operations function.
The acquisition comes with Insight Sourcing’s suite of more than 40 technology procurement tools to help clients capture value faster.
“Accenture and Insight Sourcing will combine expertise across direct, indirect and capital expense cost reduction with complementary data and technology capabilities to drive efficiency and resilience across our clients’ supply chains,” said Rob Fuhrmann, global lead for sourcing and procurement at Accenture. “With Insight Sourcing, we are taking another important step to position Accenture as a leading provider in sourcing and procurement advisory and execution services for corporate and private equity clients.”
Accenture is poised to continue expanding its capabilities for private equity clients as Insight Sourcing currently serves more than 60 companies in this industry, including 10 of the 25 largest funds in North America.
Accenture also recently acquired two sourcing and procurement service providers that support private equity companies, New York-based advisory Impendi in January and The Shelby Group consultancy in November last year.
Tom Beaty, founder and CEO of Insight Sourcing, said: “Joining Accenture will accelerate our mission of bringing procurement excellence to our clients.
“Over two decades, we have built a skilled team of professionals who are passionate about being the best in their craft and driving impactful results. As part of Accenture’s sourcing and procurement strategy, we will reach new levels of continued success with increased resources and opportunities.”
Another recent announcement saw Accenture acquire Singapore-headquartered media and marketing technology company, Jixie, to help clients in Indonesia deliver more personalized experiences to enhance customer engagement for business growth.
