Accenture PLC (NYSE: ACN) is part of the technology sector, providing business and information technology consulting. Through outsourcing, it enables clients to deal with things such as strategy and tactical issues, and improvement of operations and processes. Accenture’s largest direct competitors, those that compete in all three general areas of service, are IBM Global Business Services and Capgemini Consulting SA. Another strong competitor is Deloitte Consulting LLP, though this company only provides business and information technology (IT) consulting services.
In terms of revenue, Accenture used to be one of the largest consulting firms in the world. According to the 2014 Best Consulting Firms survey performed by Vault.com, Accenture ranked first. However, in the 2018 survey, it ranked 14.
The company reported financial results for the third quarter of fiscal 2018, ended May 31, 2018, on June 28, 2018. The company reported net revenues of $10.3 billion, reflecting an increase of 16% in U.S. dollars and 11% in local currency over the same quarter last year. Accenture partners with more than three-quarters of the Fortune Global 500. These are the companies that ranked first, second, and third in the 2018 survey.
1. McKinsey & Company
McKinsey & Company is a privately owned management consulting firm. The company focuses on addressing strategic, organizational, operational and technological issues. McKinsey & Co. serves industries ranging from commodities and natural resources to the worlds of media and high tech. The company does not reveal a client list, however, the firm does claim to serve roughly 90 of the top-100 corporations worldwide and more than 80 of the 100 largest U.S.-based companies.
2. The Boston Consulting Group, Inc.
The Boston Consulting Group, Inc. has over 14,000 employees in 85 offices in 48 countries, making it one of America’s Largest Private Companies, according to Forbes. BCG serves many of the world’s 500 largest companies, midsized businesses, nonprofit organizations, and government agencies in North and South America, Asia, Europe, the Middle East, and Australia. The firm’s consultants are experts in diverse industries ranging from financial services to industrial goods. Some notable consultants who have worked for BCG include Pepsi CEO Indra Nooyi, Israeli Prime Minister Benjamin Netanyahu, and Grammy Award winner John Legend.
3. Bain and Company
Today Bain & Company is one of the world’s most respected companies. Founded in 1973, the company partners with clients in sectors representing 90% of the global economy.
The firm has over 6,000 employees and has worked with over two-thirds of the Global 500, thousands of notable regional and local organizations, hundreds of non-profits, governments and private equity funds representing 75 percent of global equity capital. The company’s global influence translates into international experience for Bain’s employees. The firm reports that over half of their consultants had the opportunity to work internationally last year and their career aspirations are expertly tailored via Bain’s unique home staffing model.
The last time Accenture was listed in the top 10 positions in the survey was 2015. The company currently stands at 14, with Insight Sourcing Group at 13, A.T. Kearney at 12, and PricewaterhouseCoopers Advisory Services LLC at 11. Trailing Accenture are Clearview Healthcare Partners at 15 and KPMG LLP (Advisory) at 16.