Accenture PLC (NYSE: ACN) is a multinational professional technology services company that provides strategic, tactical, digital, and operational consulting support to clients in more than 200 cities, across 120 countries.
Headquartered in Dublin Ireland, the company boasts impressive revenue. Case in point: for the fiscal year ending in the third quarter of 2018, it reported net revenues of $10.3 billion, reflecting an increase of 16% in U.S. dollars and 11% in local currency, over the same period for the prior year.
Key Takeaways [PLEASE SLUG THESE TAKEAWAYS IN A PROPER CALLOUT BOX]
--Multinational professional technology services company Accenture PLC provides consulting support to clients across 120 countries.
--For the fiscal year ending in the third quarter of 2018, Accenture reported net revenues of $10.3 billion, but was still ranked fourteenth, on Vault.com's 2018 list of top global revenue producers.
--Accenture trails behind top revenue earners: McKinsey & Company, The Boston Consulting Group, Inc., and Bain & Company
While these statistics are indeed remarkable, a survey conducted by Vault.com ranked Accenture 14th, in terms of revenue, when compared to other Fortune Global 500 companies, which collectively generated $32.7 trillion in revenues, and $2.15 trillion in profits, in 2018.
The following top three-ranked companies on Vault.com's list comprise the three chief competitors Accenture aspires to catch up with:
1. McKinsey & Company
McKinsey & Company is a privately-owned management consulting firm that focuses on addressing strategic, organizational, operational and technological issues. The companies it serves engage in commodity, natural resource, media, and high-tech plays. While the company does not divulge the specific names of its clients, it claims to serve roughly 90 of the top 100 corporations worldwide, and purports to serve more than 80 of the 100 largest U.S.-based companies.
2. The Boston Consulting Group, Inc.
The Boston Consulting Group, Inc. (BCG) has over 14,000 employees in 85 offices, across 48 countries, making it one of America's largest private companies, according to Forbes. BCG serves many of the world's largest companies, mid-sized 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 a wide swath of industries, ranging from financial services to industrial goods companies. Some notable individual consultants who have worked for BCG include Pepsi CEO Indra Nooyi, Israeli Prime Minister Benjamin Netanyahu, and Grammy Award-winning singer John Legend.
3. Bain & Company
Founded in 1973, Bain & Company partners with clients that operate in sectors representing 90% of the global economy. The firm has over 6,000 employees and has worked with thousands of notable regional and local organizations, non-profit groups, governmental entities, and private equity funds. Its clients collectively represent 75% of all global equity capital.
The last time Accenture cracked the 10 ten positions on Vault.com’s survey was 2015, when it ranked first in revenue. Today, in occupying the 14th slot, Accenture sits directly behind Insight Sourcing Group (13th place), A.T. Kearney (12th place), and PricewaterhouseCoopers Advisory Services LLC (11th place). Accenture is immediately trailed by Clearview Healthcare Partners (15th place), and KPMG LLP (16th place).
[Important: Accenture started out as the business and technology consulting division of Arthur Andersen, one of the “Big Five” accounting firms.]