Halliburton Partners Accenture to Enhance Digital Revolution
Halliburton Company HAL and Accenture Plc. ACN announced collaboration to enhance the former’s digital transformation for its supply chain management and to promote digitalization across its production system. Per oilfield services major Halliburton, it plans to introduce a global hub-and-spoke supply chain and manufacturing service model, installed with new technologies, by early next year.
Under the terms of the partnership, consulting service provider Accenture will provide advanced analytics and enhanced business intelligence tools to its support teams to improve services and operational activities. Notably, Halliburton will apply Accenture’s SynOps platform to accelerate the transformation. Accenture will deploy scalable technology to operate procurement processes to enable no-contact invoicing and improve data accuracy. It is also expected to improve operational efficiencies and raise productivity for Halliburton, allowing the company to focus on its activities and operate at lower expenses.
Notably, the partnership is expected to bolster Halliburton’s aim to accelerate digital deployment and incorporate its systems across the supply chain to ensure improved customer services and shareholders’ returns. It also builds on the company’s recent five-year agreement with Microsoft MSFT and Accenture to boost its digital prowess in the Microsoft Azure cloud platform.
It must be mentioned that Halliburton is not the only oilfield service company to focus on digital capabilities for efficiency gains. Its peers, Schlumberger SLB and Baker Hughes, are also expanding the use of digital technologies to ensure business continuity at a time when the coronavirus pandemic has wreaked havoc on the energy industry by driving down demand and engineering the worst-ever crude crash.
Company Profile & Price Performance
Headquartered in Houston, TX, Halliburton is one of the largest oilfield service providers. Its shares have outperformed the industry in the past three months. The company’s stock has gained 12.7% compared with the industry’s 7.1% growth.
Zacks Rank
Halliburton currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
5 Stocks Set to Double
Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Today, See These 5 Potential Home Runs >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Microsoft Corporation (MSFT) : Free Stock Analysis Report
Schlumberger Limited (SLB) : Free Stock Analysis Report
Halliburton Company (HAL) : Free Stock Analysis Report
Accenture PLC (ACN) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
