IT services and consulting giant Accenture Ltd has won a major business process outsourcing contract to provide finance and accounting services to Microsoft over the next five years.
Hamilton, Bermuda-based Accenture will manage Microsoft’s accounts receivable and collections processes related to Microsoft’s business customers and channel partners in Europe, Middle East ad Africa. The deal also covers credit analysis, cash application and customer data management.
Financial details of the agreement were not disclosed. Around 30% of Microsoft’s $40 billion annual sales come from outside of the US, and its global accounts receivables as at the end of December stood at $7.8 billion.
According to data from advisory firm Everest Group published in October last year, Accenture is the largest F&A outsourcing provider, with a 32% share of the market in terms of number of signings, just ahead of IBM which has 29%.