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Digitalization Trend Is Helping Accenture Win New Contracts

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About the contract

Accenture (ACN) has secured a $27.3 million order from the Library of Congress to build a new data center. The contract period may take one to two years, depending on the time taken to shift the library data to the new data center. The growing popularity of the cloud platform has compelled many organizations to migrate their data to the cloud.

According to the deal, AFS (Accenture Federal Services) will build a new data center for the library’s data infrastructure. Moreover, it will also support end-to-end procurement, installation, and configuration of its hardware and software.

In July, the company formed an alliance with Google (GOOGL) called Accenture Google Cloud Business Group (or AGBG). Clients of the AGBG Group can easily leverage Accenture’s marketing, technical, and support expertise along with the Google Cloud product suite.

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AI demand driving business

Accenture is also providing analytics and AI (artificial intelligence) technology support to its clients along with the migration of the database to the cloud. The higher adoption of AI and machine learning across different organizations has encouraged the company to enhance its AI platform through acquisitions.

Last month, the tech giant made two AI-based acquisitions, Kogentix and Real Time Analytics. Such acquisitions continue to create incremental revenue for the company. The graph above shows Accenture’s revenue trend in the last five quarters. During the period, revenue grew at a CAGR (compound annual growth rate) of 5.1%.

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