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Microsoft has awarded Accenture a seven-year contract extension to provide finance and accounting (F&A) and procurement business process services. Accenture, extending services through 2025, will leverage artificial intelligence, automation and analytics capabilities to deliver better business insights and help Microsoft increase productivity and efficiency, said a statement from the company. Under the new contract, Accenture will continue to provide Microsoft with procurement, accounts payable, financial and accounting services for its more than 120 subsidiaries worldwide, it said.
The original contract was awarded in 2007, when Microsoft began to standardise its finance, accounting and procurement processes globally for an initiative called OneFinance. Accenture will leverage artificial intelligence technologies to interpret supplier inquiries and execute follow-up processes automatically, which is designed to improve customer service by accelerating response times and increasing accuracy. Moreover, Accenture will also apply advanced predictive and prescriptive analytics to provide data-driven insights, further improving the effectiveness of compliance activities and increasing the accuracy of global cash forecasting.
