Accenture, a Fortune 500 company, has pledged a $3 billion investment to create a new unit that will aid organizations in adopting public cloud. The new unit created by Accenture will be named Cloud First Group, and it will accelerate the digital transformation of businesses across multiple industries. Accenture further stated that its former North America technology services head Karthik Narain will lead the Cloud First group.
Accenture’s cloud services already make up a significant chunk of the company’s business. These services include Software-as-a-Service products, migration, infrastructure, and application cloud services. Accenture’s cloud projects also accounted for a considerable part of its revenue during FY 2019.
The Accenture Cloud First Group will have 70,000 cloud professionals with the aim of enabling swift cloud migration for organizations. Specifically, this new group aims to integrate the company’s cloud expertise, applied intelligence capabilities, Accenture Interactive’s leading experience design skills, and company’s experience in modernizing and operating large IT estates and key business processes for leading global companies. This operational experience is critical to deliver value to users when it comes to cloud and digital transformation.
Accenture stated that its $3 billion investment will be aimed at advancing industry roadmaps, data models, and solutions, cloud AI data and AI architectures, integrated full-stack infrastructure and applications capabilities, cloud tools, assets, automation to drive lower unit cost and innovation, and research and development in edge computing and related cloud technologies.
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Paul Daugherty, the group chief executive at Accenture Technology, said, “cloud is the most disruptive and value-creating technology of our time — it is the foundation for the digital transformation that is driving profound changes in how businesses operate, compete and create value for all their stakeholders. With most businesses currently at only about 20% in the cloud, moving to 80% or more rapidly and cost-effectively is a massive change that requires a bold new model. Accenture Cloud First, along with our $3 billion investment and our market-leading Software as Service capabilities in Intelligent Platform Services, ensures that we provide our clients with value, speed, and innovation in every part of their cloud journey.”
Gartner’s recent findings state that the worldwide public cloud services market is slated to grow at 6.3% in 2020, totaling $257.9 billion, up from $242.7 billion in 2019. As COVID-19 abets the growth of cloud industry, Cloud Service Providers are also gearing up to fulfill the surging demand. Accenture’s latest move is also targeted toward the same and is followed by its deal with Google to develop services based on Google Cloud Platform.
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