Accenture and Seisint have announced a strategic alliance to develop CRM solutions to help Global 1000 companies improve business performance.
The companies will initially focus on the financial services, communications and travel services industries. In addition to the strategic alliance, Accenture Technology Ventures, the venture capital unit of Accenture, has taken an equity stake in Seisint, formerly known as eData.com.
“This alliance will greatly help companies to unleash the power of their data and reinvent the way the world uses information,” said Dale H. Renner, president of Seisint. “As an architect and builder of the new economy, Accenture is the perfect partner to help us bring new capabilities to our clients.”
“Companies have been looking for a unique and powerful technology that can unlock information from vast amounts of customer and business data,” said J. Patrick O’Halloran, a partner in Accenture’s global Customer Relationship Management Practice. “Reducing the time to access and analyze data from weeks to mere seconds means the difference between securing a competitive advantage and avoiding extinction in today’s world.”
Through their alliance, Accenture and Seisint are tackling a pressing business challenge: the ability to gather information is far outpacing organizations’ ability to use it effectively. Seisint has identified this as the Data GapSM.
According to a recent study conducted by the University of California, Berkeley, “humankind will create more original information over the next three years than was created in the previous 300,000 combined.” Organizations can eliminate this growing problem by tapping Seisint’s capability to process billions of records per second.
Recent Accenture research reveals that a typical $1 billion company stands to increase profitability by as much as $25 million annually by achieving top performance in their customer insight capabilities. This ability to transform the overwhelming transaction data and information about customers into real insight gives companies a significant advantage.
Seisint (the name is derived from ‘seismic intelligence’) integrates specially configured hardware with proprietary software to enable organizations to gain full use of their data.
“As we predicted over a year ago, a new business model has emerged for managing information assets: the information services organization (ISO),” said Doug Laney, vice president for application delivery strategies at the Meta Group. “Much like financial services offer asset safekeeping, access, lending, investment, and related advice, Seisint has launched a similar business model and organic infrastructure for information management.
“Through 2005, as enterprises become increasingly burdened with data growth in relation to their capacity to manage/leverage it, ISOs like Seisint will provide relief.”
Seisint’s technology can plug into any computing platform; work over the Internet or private networks; and operate on distributed or centralized systems. Its scalable technology allows customers to cost-effectively grow solutions and data without affecting performance.
For example, Seisint currently works with Naviant Marketing Solutions to deliver precision marketing solutions to web advertisers, publishers and consumer marketers, using its High-Tech Household File database of more than 31 million consumers.
Before working with Seisint, it had been difficult for Naviant to extract very accurate information from the database. Complex queries which took days and even weeks to complete now takes only seconds – and lists are often fulfilled immediately.
In addition to Accenture Technology Ventures, Seisint is backed by EMC Corporation and BankAtlantic.
The Boca Raton, Florida-based company has built one of the largest and most sophisticated computer systems in the world, with more than 60 terabytes of storage.
About Accenture and Accenture Technology Ventures
Accenture, formerly known as Andersen Consulting, is a $10 billion global management and technology consulting organization. The firm is reinventing itself to become the market maker, architect and builder of the new economy. More than 70,000 people in 46 countries deliver specialized capabilities and solutions across all industries. The firm is building a network to meet the full range of client needs in consulting, technology, outsourcing, alliances and venture capital.