ANDERSEN CONSULTING REVENUES UP 20 PERCENT TO $3.45 BILLION.CHICAGO--(BUSINESS WIRE)--Feb. 21, 1995--Andersen Consulting today reported net revenues of $3.45 billion for the year ended Dec. 31, a 20 percent increase over 1993 net revenues. Its U.S. practice, which generates half the revenues for the global management and technology consulting organization, posted net revenues of $1.74 billion, a 23 percent increase over 1993 net revenues. George T. Shaheen, Andersen Consulting's worldwide managing partner, said, "The demand for Andersen Consulting's services is very strong globally, and we expect that demand to remain strong in 1995 across our global areas and industries." He said that in the fourth quarter of 1994 alone, Andersen Consulting's net revenues approached $1 billion, indicating a strong 1995 showing. One of the reasons for Andersen Consulting's growth was the strength of its $974 million Financial Services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. practice, which accounts for more than a quarter of the organization's revenues and consists of the Financial Markets, Insurance and Retail Financial Services industries. The 36 percent growth rate for Financial Services reflects a growing thrust among banks, brokerages and insurance companies to reinvent re·in·vent tr.v. re·in·vent·ed, re·in·vent·ing, re·in·vents 1. To make over completely: "She reinvented Indian cooking to fit a Western kitchen and a Western larder" themselves to fend off Verb 1. fend off - prevent the occurrence of; prevent from happening; "Let's avoid a confrontation"; "head off a confrontation"; "avert a strike" deflect, forefend, forfend, head off, avert, stave off, ward off, avoid, debar, obviate competitive inroads inroads Noun, pl make inroads into to start affecting or reducing: my gambling has made great inroads into my savings inroads npl to make inroads into [+ . Andersen Consulting See Accenture. estimated that across all its industry practices, $1.93 billion in net revenues came from work using client/server technology; $932 million in net revenues involved business reengineering; and $78 million in net revenues came from work using object technology. Shaheen said, "Clients are awarding Andersen Consulting challenging assignments because we consistently deliver measureable value across the full continuum of change, from strategic thinking and design through execution and measurement." He said that as organizations strive to reinvent themselves, they want consultants not only to devise strategic change but to implement change and have their compensation tied to the value created. An example of value sharing is the organization's work for the California Franchise Tax Board The California Franchise Tax Board (FTB) collects state personal income tax and corporate income tax of California.[1] History In 1879 California adopted its state constitution which among many other programs created the State Board of Equalization and the , where Andersen Consulting will implement a new system and will receive payment based exclusively on the financial benefits generated. Shaheen said value-based billing is emerging as "an innovative way to base a consultancy's compensation, because it links our success with the client's success." Industry Highlights In citing the growth of the Financial Services practice, Shaheen pointed to innovative projects such as reengineering of customer-service processes at John Hancock and transformational change initiatives for Chemical Bank and First Bank System. Another reason for Andersen Consulting's growth from an industry standpoint is the strength of the $752 million Consumer Products practice, which grew at a 39 percent rate. Shaheen said, "The growth of Consumer Products occurs as manufacturers reconfigure To change the status of something. their businesses to deliver more value to customers." With geographic and trade barriers continuing to be lowered, he added, more multinationals are "asking us to help rethink re·think tr. & intr.v. re·thought , re·think·ing, re·thinks To reconsider (something) or to involve oneself in reconsideration. re their sourcing, plant siting, logistics and supply chain management." The success of the Consumer Products practice was reflected in major modernization modernization Transformation of a society from a rural and agrarian condition to a secular, urban, and industrial one. It is closely linked with industrialization. As societies modernize, the individual becomes increasingly important, gradually replacing the family, work for transportation companies in Japan, the United Kingdom, the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and Germany. Moreover, the organization's innovative Passenger Revenue Accounting system, originally developed at Northwest Airlines, now is being provided to four other major airlines. The $364 million Communications industry communications industry, broadly defined, the business of conveying information. Although communication by means of symbols and gestures dates to the beginning of human history, the term generally refers to mass communications. also grew dramatically, up 52 percent. Shaheen said, "This growth matches the explosive expansion of this dynamic market," which comprises telephone companies, media organizations, cable, wireless and cellular. Andersen Consulting is helping virtually every major player in this market. An example is Andersen Consulting's innovative work with Time Warner Time Warner Inc. (NYSE: TWX), formerly known as AOL Time Warner, is the world's largest media and entertainment conglomerate headquartered in New York City, with major operations in film, television, publishing, Internet service and telecommunications. Cable's Full Service NetworkTM, the first digital interactive broad-brand network. Growth by Global Area While all major global areas contributed to the organization's growth, the rates of expansion were most aggressive in Asia/Pacific, with 27 percent growth. The Americas achieved growth of 23 percent, paced by strong performance in Communications and Consumer Products. Within the Americas, Latin America Latin America, the Spanish-speaking, Portuguese-speaking, and French-speaking countries (except Canada) of North America, South America, Central America, and the West Indies. scored a robust 32 percent increase in revenues. The Asia/Pacific's Retail Financial Services, Government and Communications industries grew impressively. Within the Government industry, Andersen Consulting's pioneering work for New Zealand's Inland Revenue Inland Revenue Noun (in Britain and New Zealand) a government department that collects major direct taxes, such as income tax Noun 1. Service has led to similar projects for taxation agencies in Japan, South Korea, Singapore, the Philippines and, outside of Asia/Pacific, Puerto Rico Puerto Rico (pwār`tō rē`kō), island (2005 est. pop. 3,917,000), 3,508 sq mi (9,086 sq km), West Indies, c.1,000 mi (1,610 km) SE of Miami, Fla. . Andersen Consulting said its EMEAI EMEAI Europe, Middle East, Africa, India (Europe/Middle East/Africa/India) area also performed well, up 13 percent despite Europe's slow emergence from its recession. Shaheen highlighted the organization's London Stock Exchange London Stock Exchange London marketplace for securities. It was formed in 1773 by a group of stockbrokers who had been doing business informally in local coffeehouses. , where "our work is truly helping underpin London as Europe's financial center." He added that the project is extremely large and complex, calling for transforming trading and information systems and involving a unique business process management arrangement. He also cited Andersen Consulting's precedent-setting work for ICA Ica (ē`kä), city (1993 pop. 108,724), capital of Ica dept., SW Peru, on the Pan-American Highway. It is a commercial center for the cotton, wool, and wine produced in the region. There are several summer resorts nearby. , Sweden's retailing giant, where "we completed a challenging transformation to a customer-responsive culture." Other Keys to Growth Shaheen attributed part of Andersen Consulting's success to its clients' acceptance of business integration, the organization's approach of making the change process more successful -- by linking people, processes and technology to strategy. In 1994, Andersen Consulting said it continued to open new industry-focused Business Integration Centers, which are designed to help clients visualize how they might manage change in today's volatile markets. Now there are several such centers in operation worldwide. Shaheen also reported that the organization's Center for Strategic Technology, which opened early 1993 in Palo Alto Palo Alto, city, California Palo Alto (păl`ō ăl`tō), city (1990 pop. 55,900), Santa Clara co., W Calif.; inc. 1894. Although primarily residential, Palo Alto has aerospace, electronics, and advanced research industries. , Calif., continues to "successfully showcase innovative project work and proof-of-concept scenarios." A similar facility will open in France in 1995. Andersen Consulting's investment in research and development continues to grow -- from $328 million in 1993 to $352 million in 1994. Andersen Consulting is a $3.45 billion global management and technology consulting organization whose mission is to help its clients change to be more successful. The organization works with clients from a wide range of industries to link their people, processes and technologies to their strategies. Andersen Consulting has more than 32,000 people in 152 offices and 47 countries. -0-
Andersen Consulting
Net Revenues by Industry
For the Years Ended December 31, 1993-1994
($U.S. Millions)
Industry 1994 % Increase 1993 Financial Service 974 36 715 Financial Markets 322 31 245 Insurance 218 29 169 Retail Financial Services 434 44 301 Government 339 12 303 Healthcare 97 18 82 Products 1,380 14 1,212 Consumer Products 752 39 541 Industrial Products 318 4 307 Process/Energy 310 (15) 364 Communications 364 52 239 Utilities 225 (3) 232 Other 73 (22) 93 TOTAL WORLDWIDE 3,452 20 2,876
Andersen Consulting
Net Revenues by Geographic Area
For the Years Ended December 31, 1993-1994
($U.S. Millions)
Region 1994 % Increase 1993 Americas 1,941 23 1,574 Asia/Pacific 330 27 259 Europe/Middle East/Africa/ India 1,181 13 1,043 TOTAL WORLDWIDE 3,452 20 2,876
Andersen Consulting
Net Revenues
Five-Year Revenue Summary
($U.S. Millions)
1994: 3,452 1993: 2,876 1992: 2,723 1991: 2,341 1990: 2,057
Andersen Consulting
Total Personnel by Geographic Area, 1994
Region Number Americas 17,421 Asia/Pacific 3,494 Europe/Middle East/ Africa/India 11,796 TOTAL WORLDWIDE 32,711
Andersen Consulting
Growth in Personnel, 1990-1994
1994: 32,711 1993: 29,296 1992: 26,730 1991: 25,290 1990: 24,548 -0- CONTACT: Andersen Consulting, Chicago Dan Collins (312) 507-6755 or David J David J. Haskins (b. April 24, 1957, in Northampton, England) is a British alternative rock musician. He was the bassist for the seminal gothic rock band Bauhaus. Life and work . Deal (312) 507-5156 or Burson-Marsteller, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of Stan STAN Stanchion STAN Stärke- und Ausrüstungsnachweis (German) Stan Standard Man (human patient simulator) STAN SEMCIP Technical Assistance Network STAN System Trace Audit Number STAN Star Trek Area Network Steinreich (212) 614-4598 |
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