Accenture is joining forces with SAP to target applications specifically designed for the financial services sector.
Under the agreement, Accenture and SAP will develop and sell a portfolio of solutions and services aimed at banking and insurance customers. Initially, this will consist of SAP’s and Accenture’s existing banking and insurance solutions, such as insurance claims management, insurance policy administration, core banking operations and risk management.
The two companies will also market and implement SAP’s cross-industry solutions for managing business processes such as financials and human capital management (HCM) with Accenture becoming a preferred integration partner for SAP’s financial services solutions.
Accenture will also become SAP’s largest development partner in financial services, and the two companies plan to assign approximately 800 people -- to be based in the US, Spain and Germany -- to a combined development effort. Under the agreement, Accenture plans to offer business process outsourcing (BPO) services based on the portfolio of solutions, enhancing its current BPO capabilities for banks and insurers.
Henning Kagermann, chief executive officer, SAP AG, said: “By expanding our relationship to jointly serve banking and insurance companies, SAP and Accenture will offer customers unparalleled industry-expertise combined with a broader range of solutions, greater implementation flexibility and lower risk.”