In it’s latest acquisition, Accenture acquires Xoomworks for an undisclosed amount. Xoomworks Group is a consulting and technology company that creates procurement technology, digital innovation and software solutions development. The acquisition is intended to augment Accenture’s ability to help clients accelerate technology-led business and procurement transformation.
Accenture has acquired 47 companies this year, doubling its total number of acquisitions.
Xoomworks’s team of more than 250 professionals who have their headquarters in London are joining Accenture from locations across Europe.
Xoomworks was established in 2000 and operates two businesses. Xoomworks Procurement, a specialist consultancy focused on digital transformation of sourcing and procurement, and Xoomworks Technology, a software development business that partners with clients across industries to help them innovate new digital solutions at speed and scale. Both of these were acquired by Accenture.
Xoomworks Procurement supplies “proprietary methodologies and solutions for full procurement lifecycle implementations, data-driven spend management and change management.”
Xoomworks Procurement strengthens Accenture’s Closed Loop Spend Management capabilities: designed to create end-to-end transformations for clients that facilitate visibility across direct and indirect cost categories, and sustainable cost savings and top line value. Xoomworks works with Accenture ecosystem partners, such as SAP Ariba, Coupa and Jaggaer.
Commenting on the acquisition, senior managing director within Accenture’s Supply Chain & Operations group, Pierre-François Kaltenbach said: “Now more than ever, companies need to take a more proactive approach to managing third-party spend that positions them for enduring growth and prepares them for what’s next. We’re delighted to welcome Xoomworks to our team and join our mission to help clients transform their procurement capabilities to accelerate innovation and drive breakthrough value, while answering the call for more responsible business.”
Malcolm Clark, the Co-founder and Group CEO of Xoomworks, said: “When we founded Xoomworks 21 years ago, we set out to create technology-led solutions to solve specific business problems and deliver high-performance outcomes with a focus on forming deep client relationships built on trust. We’ve done just that. I’m immensely proud of our people, our achievements and our collaborative values-led approach. The world has changed radically in the last two decades; by combining our experience, capabilities and expertise and with a shared vision of the future, we know we can have an even bigger impact as part of Accenture.”
Xoomworks Technology has deep knowledge and experience of bespoke software development, UX & mobile, data engineering, product innovation, and cloud integrations. Xoomworks Technology brings a problem-solving approach designed to create value, foster innovation and achieve business outcomes. This has led to many strong strategic relationships in the industry.
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Jan Van Den Bremen, speaking as senior managing director and Accenture’s Intelligent Platform Services Europe Lead, said: “Intelligent platforms and ecosystem partners play a pivotal role in bringing together the major capabilities needed to run a modern enterprise and take advantage of new business models. With the addition of Xoomworks, we are expanding our deep technology expertise to further help accelerate the path to value for our clients at speed.”
The development of Accenture through acquisitions over the pandemic has been subject to some criticism as this has been simultaneous with widespread cuts to their workforce. The business logic behind the decision is to acquire not only the material structure of the businesses it purchases, but also the “proprietary methodologies” or ways of working, along with the unique skill sets of the new workforce as it restructures its own operations. The relative importance of procurement operations along with the importance of the need to develop new software systems as necessary and in house as part of Accenture’s toolkit make this a wise choice during the current continuing levels of economic disruption.
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