Conoco in the UK Outsources to Andersen Consulting.CHICAGO--(BUSINESS WIRE)--Aug. 21, 1995--Andersen Consulting's Business Process Management practice has been selected by Conoco to handle its U.K. financial management operations for both its drilling and piping divisions, commonly known in the industry as upstream and downstream. This agreement is the latest in a series of contracts Andersen Consulting See Accenture. has won in recent weeks with large companies seeking to outsource key business functions. At Conoco, Andersen Consulting will generate the management information, process the accounting transactions and support the accounting computing systems. Approximately 120 employees will transfer to Andersen Consulting as part of the agreement. "Companies like Conoco are looking for Looking for In the context of general equities, this describing a buy interest in which a dealer is asked to offer stock, often involving a capital commitment. Antithesis of in touch with. ways to focus on their core competencies A core competency is something that a firm can do well and that meets the following three conditions specified by Hamel and Prahalad (1990):
With its focus on strategic initiatives for outsourcing, Andersen Consulting is helping to drive the market's shift into business process management with several groundbreaking engagements. For example, Andersen Consulting runs the automated trading floor at the 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. and handles accounting services for BP Exploration, Sun Oil and ASco. Andersen Consulting is also providing outsourcing in information technology for other energy companies, such as Halliburton and Freeport McMoRan. Conoco is an international petroleum company, employing some 17,000 people in 28 countries worldwide, including Europe, North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. , the Middle East and the Pacific Rim Pacific Rim, term used to describe the nations bordering the Pacific Ocean and the island countries situated in it. In the post–World War II era, the Pacific Rim has become an increasingly important and interconnected economic region. . In Europe the company is the fifth largest oil and gas producer in the North Sea. It has refineries in the UK and Germany, and it markets gasoline, diesel fuel and motor oils -- mainly under the JET brand name -- through more than 2,000 filling stations in 16 countries. Conoco is the energy subsidiary of DuPont. 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- Editor's note Editor's Note (foaled in 1993 in Kentucky) is an American thoroughbred Stallion racehorse. He was sired by 1992 U.S. Champion 2 YO Colt Forty Niner, who in turn was a son of Champion sire Mr. Prospector and out of the mare, Beware Of The Cat. Trained by D. : Andersen Consulting is not a division of accounting firm Arthur Andersen For the U.S. Supreme Court case commonly known as Arthur Andersen, see . Arthur Andersen LLP, based in Chicago, was once one of the "Big Five" accounting firms (the other four are PricewaterhouseCoopers, Deloitte Touche Tohmatsu, Ernst & Young and KPMG), performing . CONTACT: Cynthia A. Vallimont Andersen Consulting 312-931-3759 or cynthia.a.vallimont@ac.com |
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