BP has selected Accenture as its global outsourcing provider of finance and accounting (F&A) services to complement its in-house service centres.
Accenture will help BP consolidate its global F&A function through "advanced analytics to improve business controls and drive greater insights into the business", said the energy giant. The move will also see BP reduce the number of F&A outsourcers it uses.
Specifically, Accenture will be responsible for providing record to report, order to cash, procure-to-pay and production revenue accounting services.
“BP sees this partnership with Accenture as an important milestone in driving standardisation in our finance and accounting processes by consolidating our F&A service providers,” said Brian Puffer, group controller at BP.
The two companies have a business relationship going back over 20 years, signing their first F&A agreement in 1991.
The value of the multi-year deal to Accenture has not been disclosed.
Last month BP selected T-Systems to migrate and upgrade its Microsoft Exchange servers into a private cloud that will be run out of a twin-core data centre in Germany to serve more than 83,000 employees worldwide.