CONCERNS OVER REVISED GUIDANCE

Accenture is making efforts to streamline operations and its presence in various business segments. It remains to be seen how the company and the broader IT industry will adapt to evolving market dynamics.

- Aanchal Ghatak

AJAY VIJ 

Country Managing Director (From July 2023) (Rekha Menon, Chairperson and Senior Managing Director, stepped down in June 2023)

RANK 7 ACCENTURE INDIA

Accenture's FY23 Revenue Guidance Adjustment Raises Concerns for Indian IT Industry: Accenture, a global professional services company, reported its financial performance for the fiscal year 2022-2023, along with revised revenue guidance for FY23. While Accenture's Q3 results exceeded expectations with a YoY CC revenue growth of 5 per cent, the company has adjusted its FY23 revenue growth guidance band, lowering the upper end by 100 basis points (bps) to 8-9 per cent YoY constant currency (CC). This adjustment has raised concerns and is viewed as a negative signal for Indian IT companies.

STREAMLINING OPERATIONS AND COST REDUCTION

In an effort to reduce costs, Accenture initiated actions in the second quarter of fiscal 2023 to streamline its operations. The company focused on transforming non-billable corporate functions and consolidating office space. These measures aimed to enhance operational efficiency and achieve cost savings.