Accenture (NYSE: ACN) has acquired PureApps, a UK-based Enterprise Performance Management (EPM) provider that helps clients use financial insight and analysis to improve organizational effectiveness through better cost management and strategy execution.
The acquisition will strengthen Accenture's end-to-end EPM capabilities and enable Accenture to help CFOs transform the finance function using emerging digital technologies. Terms of the transaction were not disclosed.
PureApps specializes in implementing performance management solutions based on the Oracle Hyperion Enterprise Performance Management and Oracle Business Analytics range of products. The company enables CFOs to report and analyze enterprise performance, accurately forecast business results and work with business units to transform these insights into action. Its solutions integrate strategy, planning and execution across management and operational systems.
PureApps will be integrated into Accenture's Finance and Enterprise Performance practice, part of Accenture Strategy. PureApps's technical capabilities will complement Accenture's extensive consulting expertise for the finance function, including its global shared services offering. The combination of the two businesses will strengthen Accenture's presence in the UK EPM market and support clients in Europe, where demand for EPM-related services is strong.
"EPM is experiencing strong growth, driven by the demands of CFOs who are being asked to play a more central role in enhancing the organizational agility of businesses in response to rapidly changing markets," said Chris Wright, managing director, Finance & Enterprise Performance practice at Accenture Strategy, UK and Ireland. "Success depends on being able to turn strategy into execution more effectively and comprehensive performance management capabilities are critical to achieving that. The combination of Accenture and PureApps's EPM capabilities demonstrate the value to CFOs of integrating business, technology and function strategies within organizations."
"Businesses today are looking for solutions that will improve their ability to analyze and act on a vast array of financial, operational, competitive and marketplace information," said Nick Wyatt, managing director, PureApps. "As part of Accenture, we will be better placed to provide end-to-end enterprise performance management services, help the CFO drive value and support the transformation of the finance function."
Founded in 1998, PureApps is a privately held company headquartered in Winchester in the UK. The company also has small offices in Benelux.