US oilfield services firm Schlumberger extends agreement with Accenture

US-based oilfield services provider Schlumberger has extended its agreement with Accenture for another five years until 2021 for finance and accounting (F&A) business process outsourcing (BPO) services.

As part of the extension, Accenture will leverage its intelligent automation and analytics capabilities to further transform Schlumberger’s global finance organisation.

Accenture operations group operating officer Manish Sharma said: “This project is a great example of how the advanced analytics and intelligent automation capabilities embedded within our F&A BPO services can support a forward-thinking organisation such as Schlumberger on their drive for more efficient operations.”

Accenture resources operating group chief executive Jean-Marc Ollagnier added: “Our collaborative work will enable Schlumberger to better focus on its core business of serving oil and gas companies globally.

“This project establishes an effective model for how companies in the oil and gas industry can improve internal performance to help offset the pressure of the low oil-price environment.”

Under the extended partnership, Accenture will provide new record-to-report services and expanded accounts payable BPO services to Schlumberger.

The services are cloud-based, electronic invoicing capabilities and automation services aimed at increasing productivity.

Schlumberger executive vice-president and chief financial officer Simon Ayat said: “Our ongoing relationship with Accenture supports our Finance 2020 vision and contributes to our broader effort to reduce complexity and increase efficiency and flexibility across our organisation.”

Work under the agreement will be delivered by Accenture through its global delivery centres in Chennai, India; Buenos Aires, Argentina; Kuala Lumpur, Malaysia and Bucharest, Romania.