Professional services firm Accenture has acquired supply chain logistics specialist Flo.
The deal, announced Tuesday (March 19), will move Flo’s 280 employees to the Accenture Oracle Business Group, strengthening its ability to help clients prepare for the supply chain’s digital transformation.
Headquartered in the Netherlands, Flo chiefly works with enterprise clients in Europe in an array of industries including retail, automotive, consumer goods, manufacturing, mining, energy, chemicals and government.
“For 17 years, we’ve been delivering complex supply chain solutions worldwide, as a leading Oracle business partner in supply chain in Europe,” said Michiel Keijzer, CEO, Flo Group. “By joining Accenture, we can deliver logistics excellence at scale, while creating new growth opportunities for our people.”
The release noted that the purchase of Flo follows the recent addition of Inspirage, an integrated Oracle Cloud specialist firm that focuses on supply chain management.
The acquisition is happening at a time when — as noted here last month — businesses are increasingly turning to advanced technologies such as artificial intelligence (AI), automation and blockchain to transform and modernize their supply chain processes.
In a recent interview with PYMNTS, GreyOrange CEO Akash Gupta discussed how these advanced technologies, including robotics, AI and what he termed “an intelligent software orchestration layer,” have been crucial in streamlining warehousing and fulfillment processes, while managing inventory flow and data.
He also mentioned radio frequency identification (RFID) technology as a valuable tool for accurate tracking of item locations as they travel through supply chains.
Meanwhile, supplier payments are also seeing a clear shift toward digital transformation, as shown in the report “Digital Payments: Modernizing Procurement Processes,” a PYMNTS and Corcentric collaboration.
Per that study, businesses in sectors that include healthcare, finance, insurance, retail and manufacturing, are actively modernizing their business processes by investing in digital payments technology.
The research found that 31% of retailers are investing in these procurement systems, with another 53% planning to do so. And 42% of manufacturers have already begun upgrades to their procurement technology, with 44% in the process of doing so.
“Drilling further down in the data shows a growing emphasis placed on enhancing supplier data such as real-time inventory information and supply chain analytics,” PYMNTS wrote.
“This focus enables businesses to refine their planning and forecasting capabilities while also facilitating the management and expansion of supply chains to meet surges in customer demand or identify alternative suppliers in case of shortages.”
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