Google AI question: Has Accenture taken jobs from investment firms other that IT?
Yes, Accenture has taken over significant non-IT operational and business functions from investment firms, asset managers, and capital markets entities. Through its "Managed Services" and Business Process Outsourcing (BPO) arms, Accenture often assumes responsibility for middle- and back-office operations, strategy, and talent to cut costs and modernize processes.
Examples of non-IT job functions taken over by Accenture include:
Middle & Back Office Operations: Accenture manages end-to-end trading lifecycle operations, including trade processing, reconciliation, settlement, and clearing. 👀
Asset & Wealth Management Services: They provide operational support for portfolio management, investment stewardship, and client service teams. 👀
Finance & Risk Management: Accenture runs finance, risk management, and regulatory compliance reporting, taking over these functions to manage regulation and data.
Transaction Advisory & M&A: They provide strategy consulting, post-merger integration, and operational restructuring services, effectively taking over the planning and execution roles formerly held by internal teams.
Procurement: Accenture offers procurement outsourcing, managing vendor relationships and purchasing processes for financial institutions.
Human Resources/Talent: During acquisitions, Accenture often replaces internal HR and project management (PMO) staff with their own centralized global HR group.
How they do it:
Accenture typically acquires specialized consultancies (such as Altus Consulting for investment technology or SKS Group for banking) and then uses its "shared services" model to offshore or automate roles, which frequently results in the displacement of the client’s original staff.