Accenture’s capabilities to serve specialized banks, including promotional banks that give financial and development support to local enterprises and communities, will be bolstered by the acquisition of SAP consultancy SKS Group.
In order to further assist Australian and New Zealand-based businesses in their cloud migration with SAP’s cutting-edge technologies, Accenture purchased Zag – an SAP and cloud solutions expert – in October 2020. With locations in Auckland, Wellington, Sydney, and Melbourne, Zag is a leading SAP, cloud, and spatial consulting business serving Australia and New Zealand. As a result of acquiring Zag, Accenture was able to assist ANZ businesses in their transition to the cloud and SAP’s next-generation offerings.
Meanwhile, Accenture also made a bold move in 2021 to bolster its SAP offerings by acquiring Edenhouse, a United Kingdom-based SAP Platinum Partner that specializes in selling, implementing, supporting, and hosting SAP solutions for small and medium-sized enterprises (SMEs). By utilizing Edenhouse’s professional consultants and their extensive technical expertise and industry knowledge in implementing SAP on-premise and cloud solutions, SAP deployment, SAP managed services, SAP maintenance, and SAP support, Accenture was able to improve its SAP capabilities in the UK.
This year, Accenture recently announced its first acquisition in Europe, with the SKS Group deal. This is just one of many transactions that the firm has closed in the region over the past three years. In fact, Accenture’s business units – which include consulting, technology, and outsourcing – have a total of over 20 deals in Europe. This ongoing activity demonstrates Accenture’s commitment to growing its presence in this important market.
Moreover, Accenture’s latest acquisition in the banking sector follows previous purchases of Allgemeines Rechenzentrum GmbH (ARZ), BCS Consulting, Exton Consulting, and a strategic investment in Imburse through Accenture Ventures. The latest addition of SKS Group will allow Accenture to further strengthen its position as a leading provider of digital banking solutions globally. With this move, Accenture is looking to help its clients meet the ever-changing needs of their customers and stay ahead of the competition.
Accenture Expands Capabilities with SAP Consultancy Acquisition
SKS Group, which has its headquarters in Hochheim, Germany, will join Accenture Technology with its team of around 500 staff members. The acquisition will comprise all of SKS Group’s companies, all of which assist financial institutions in developing, implementing, and operating SAP solutions for essential banking services and analytics.
In addition, SKS Group possesses a comprehensive portfolio of risk, regulatory services, and compliance capabilities. Its observatory tool, for example, maps regulatory requirements to assist banks in managing their reporting procedures. Commenting on the latest industry development, SKS Group Co-Founder and Managing Director Martin Schuhmann said:
“Accenture’s global scale and scope will provide our people with exciting new opportunities to take banks’ digital transformations to the next level, deliver superior customer experiences and improve regulatory reporting processes.”
David Cordero, who oversees the European Banking Industry Group at Accenture, stated that the innovative solutions and skills that SKS Group possesses will strengthen its ability to transform banks’ core business functions. This will allow banks to operate more efficiently, make better use of their data, and develop new products more quickly. He went on to say that the significant skills that SKS Group has for specialized banks would help grow Accenture’s banking services to new customers.
On the other hand, Christina Raab, Market Unit Lead for Accenture in Germany, Austria and Switzerland, echoes Cordero’s sentiments, sharing that:
“With SKS Group’s deep industry knowledge and technology expertise, we will be in an even stronger position to help banks modernize their legacy technology, manage risk and accelerate growth. As consumers’ banking needs and preferences change, banks’ business models will have to evolve to keep pace and remain relevant.”