Importance of the partnership
In July, Accenture (ACN) teamed up with Google (GOOGL) to launch the Accenture Google Cloud Business Group (or AGBG). Supporting teams from both companies will be present in the AGBG unit. They will be responsible for creating cross-industry solutions for customers in North America, Europe, and Japan.
AGBG Group customers can easily leverage Accenture’s marketing, technical, and support expertise along with the Google Cloud product suite, which can help them boost their business productivity and efficiency and save on costs.
Key focus areas
In the beginning, the AGBG Group will focus on the retail, consumer packaged goods, and health industries. Later, it may expand its reach to other sectors as well. The AGBG Group will allow both companies to develop next-generation business processes with AI and machine learning. Moreover, it aims to build relevant customer experiences by combining Google Marketing Platform data with other enterprise data sources. It will even allow deployment of G Suite across the enterprise.
The Accenture and Google partnership has a long history. The alliance is supporting Verizon’s (VZ) customer service through Accenture’s advanced analytics and Google Cloud platform.
Driving billings growth
The ongoing digital transformation trend is helping Accenture win new orders. The availability of different forms of the cloud is creating significant opportunity for the company in different markets.
In the last five quarters, the overall net bookings for the company have increased at a CAGR (compound annual growth rate) of 4.7%. The chart above shows overall bookings growth for the tech giant. In fiscal Q3 2018, the company secured 13 orders worth more than $100 million. In the same quarter, Accenture also made record bookings of nearly $11.8 billion, up 20.3%.
Thus, such cloud ventures may not just attract customers globally but also drive Accenture’s bookings growth in the upcoming quarters as well.