Accenture lands £400m Barclays outsourcing deal
Financial services giant Barclays has signed a £400m deal with Accenture to outsource the application development for its UK banking systems.
Financial services giant Barclays has signed a £400m deal with Accenture to outsource the application development for its UK banking systems.
Link: Management Consultancy survey 2004
The six-year contract will see 900 Barclays staff transfer to Accenture, following ‘tough’ negotiations with trade union Unify.
Barclays hopes that the deal will enable it to lower the costs of developing applications, as well as enabling it to respond quickly to market demands.
‘[It] is an important step in ensuring we deliver top-quartile capability and productivity in the vital areas of system development,’ said David Weymouth, chief information office, Barclays, in a statement.
As a result of the negotiations, Barclays and Accenture have agreed that there will be no compulsory redundancies within the first two-years of the contract. Employees will also maintain their full benefits as part of transfer.
Lead negotiator for Unifi, Keith Brooke said he was ‘happy with the deal’.
Barclays also handed its desktop management over to IT services firm EDS, in a £210m deal last year.
The numbers you crunch tell a story. Your expertis...
20yEmbracing user-friendly AP systems can turn the tide, streamlining workflows, enhancing compliance, and opening doors to early payment discounts. Read...
View articleOrganisations can enhance their financial operations' efficiency, accuracy, and responsiveness by adopting platforms that offer them self-service cust...
View articleIn a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...
View resourceDiscover how AP dashboards can transform your business by enhancing efficiency and accuracy in tracking key metrics, as revealed by the latest insight...
View articleGlobal spend on accountancy outsourcing up by 40% in the space of five years. News comes as accountancy outsourcing specialist AdvanceTrack reports en...
View articleFollowing a profitability review, Deloitte has decided to scale back its UK deals business due to lower returns. This strategic shift could lead to jo...
View articleUK-based Dow Schofield Watts (DSW), a mid-market professional services network, announced the creation of a new division called DSW Principal Partners...
View articleEY has been undergoing significant cost-cutting measures and streamlining its operations since the abandonment of Project Everest. The firm has made t...
View articleTransitioning from an accounting firm to a consultancy model is only one part of the puzzle. The next, equally vital piece is making the market aware ...
View articleThis framework, while providing a top-line view, underscores the importance of strategic vision, operational excellence, and the spirit of continuous ...
View articleLooking ahead, the Big 4 firms face a challenging year, with ongoing cost-of-living concerns, slow economic growth, rising geopolitical tensions, and ...
View articleLast month it was reported that Deloitte would be cutting approximately 1,200 jobs in the United States, making it the latest of the Big Four accounti...
View article