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Is a change as good as a rest? For Accenture it was much better than that. As Andersen Consulting, the company was already hugely successful. But an effective program of rebranding, repositioning and financial restructuring has helped expand operations and cement its position as the world's premier supplier of management and technology consulting services and solutions.
The search for a new identity
After a lengthy battle to split from sister company Arthur Andersen left the company with just 147 days to find and implement a new name. A task of this magnitude would usually take two to three times longer. Despite the battle against time, there was no compromise on thoroughness. It was all hands to the pump when 55 teams around the world launched a program fittingly named "brandstorming". Keeping its 70,000 professionals informed and involved resulted in this internal initiative generating around 2,700 potential names. With the help of branding consultancy Landor Associates, the list grew to almost 5,000. Gradual elimination left the company's executive committee selecting from a final short list of four. Executives chose Accenture - a combination of the words "accent" and "future" - because it epitomized the organization's forward-thinking ethos. The company created an eye-catching logo to complement the new name. Accenture was the brainchild of Kim Petersen, a senior manager of the company in Oslo, Norway. The company rewarded him with a golfing holiday in Australia.
Even then, it was not simply a case of implementing the new name. The company first carried out a comprehensive study to evaluate its appropriateness. Researchers verified global trademark and URL availability, and checked for possible cultural sensitivities or pronunciation issues within the 47 countries in which the company operates.
Out with the old and in with the new
Familiarity supposedly breeds contempt. While this may be true in certain contexts, in business the unfamiliar is usually most in danger of being rebuked. Therefore, changing identity can obviously alienate customers who feel loyal to a brand they are accustomed to. But this company was...