Deutsche Bank to Outsource Procurement to Accenture
FRANKFURT AM MAIN and NEW YORK; Jan. 29, 2004 – Deutsche Bank has signed a master services agreement with Accenture to enter into a business process outsourcing (BPO) relationship for Corporate Purchasing and Accounts Payable services worldwide. The terms and conditions of the contract were not disclosed.
Accenture will provide resources such as state-of-the-art systems, tools and processes to manage the entire procure-to-pay process. Deutsche Bank will retain responsibility over supplier selection and supplier relationships, as well as approvals and authorisations for purchasing activities and payment.
The global framework agreement reached with Accenture will be followed by individual country agreements due specific local processes throughout 2004.
This initiative is in line with Deutsche Bank’s strategy to concentrate on its core competencies.
Accenture is a global management consulting, technology services and outsourcing company. Committed to delivering innovation, Accenture collaborates with its clients to help them become high-performance businesses and governments. With deep industry and business process expertise, broad global resources and a proven track record, Accenture can mobilize the right people, skills, and technologies to help clients improve their performance. With approximately 86,000 people in 48 countries, the company generated net revenues of US$11.8 billion for the fiscal year ended Aug. 31, 2003. Its home page is www.accenture.com.
About Deutsche Bank
With roughly Euro 864 billion in assets and approximately 68,500 employees, Deutsche Bank offers its 13 million clients unparalleled financial services in 76 countries throughout the world. Deutsche Bank competes to be the leading global provider of financial solutions for demanding clients creating exceptional value for its shareholders and people.
Deutsche Bank ranks among the global leaders in corporate banking and securities, transaction banking, asset management, and private wealth management, and has a significant private & business banking franchise in Germany and other selected countries in Continental Europe. www.deutsche-bank.com
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