Accenture (NYSE: ACN) has acquired ClearEdge Partners, a firm specializing in procurement spend management, to help clients better manage their digital transformation spend. Terms of the transaction were not disclosed.

ClearEdge brings proprietary methodologies, solutions and deep expertise in information technology (IT) spend management and software asset management. These capabilities combined with Accenture’s SynOps platform will give Accenture the ability to extend insights and purchasing expertise to help clients generate cost savings and extract greater value out of existing IT investments.

Expanding digital transformation agendas continue to drive rising IT spending among enterprise organizations. An industry forecast by Gartner® projects worldwide IT spending to reach $4.1 trillion by the end of 2021, up 8.4% from 2020^[1]. However, Accenture estimates that as much as 30% of value from IT spending gets lost to licensing complexities and lack of spending controls.

“While the pandemic accelerated the speed of digital adoption, organizations are now at an inflection point where sustaining growth will be defined by those that create value faster and maximize the impact of those investments,” said Manish Sharma, group chief executive of Accenture Operations. “We’re delighted to welcome ClearEdge to our team, adding significant IT category expertise to our procurement business while extending our ability to deliver value for clients.”

Headquartered in the Boston area, ClearEdge brings approximately 100 professionals to Accenture Operations, as well as deep category expertise, advanced analytics and software asset management. It also provides advisory, sourcing support and spend optimization services to help clients improve supplier negotiations and better manage IT spend.

Jack Garrahan, co-founder and chief executive officer of ClearEdge, added: “Since starting ClearEdge 15 years ago, we’ve built unrivaled expertise and capabilities for helping clients maximize the value of their digital transformation spend. Together with Accenture, our shared vision of the future and combined capabilities will accelerate our ambition and enable us to have an even bigger impact.”

About Accenture

Accenture is a global professional services company with leading capabilities in digital, cloud and security. Combining unmatched experience and specialized skills across more than 40 industries, we offer Strategy and Consulting, Interactive, Technology and Operations services—all powered by the world’s largest network of Advanced Technology and Intelligent Operations centers. Our 624,000 people deliver on the promise of technology and human ingenuity every day, serving clients in more than 120 countries. We embrace the power of change to create value and shared success for our clients, people, shareholders, partners and communities. Visit us at www.accenture.com.

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^[1] Gartner Press Release, Gartner Forecasts Worldwide IT Spending to Reach $4 Trillion in 2021, April 7, 2021 GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and is used herein with permission. All rights reserved.

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