BP has selected Accenture to be its Global Outsourcing Provider of Finance and Accounting (F&A) Services. Accenture will be responsible for providing record to report, order to cash, procure-to-pay and production revenue accounting services. In addition, Accenture will implement several process standardization initiatives and business process outsourcing (BPO) technologies across BP's finance organization. Terms of the multi-year agreement were not disclosed by both parties
Accenture and BP have a long story of working together. The companies signed their first F&A agreement in 1991.
"BP's decision to select Accenture reflects our continued commitment over the past two decades to helping BP achieve its business objectives," said Arthur Hanna, managing director of Accenture's Energy industry group. "We will continue to draw on our industry knowledge, leverage our capabilities worldwide and bring innovation to support BP's finance function."
"BP sees this partnership with Accenture as an important milestone in driving standardization in our finance and accounting processes by consolidating our F&A service providers," said Brian Puffer, Group Controller at BP.