Palantir Launches Studio of 1000 Foundry Experts With Accenture
Accenture is one of the largest consulting firms in the world. Their job is to make sure that they can solve the hardest problems for their clients in the most efficient way.
Palantir has been working with Accenture for a while. In late 2021, both companies stated that they were building out partnerships and that Accenture was trying to implement Palantir into the suite of recommendations they provide to clients.
Yesterday, the partnership was confirmed and made formal. From their press release:
We’re now excited to announce a new partnership between Palantir and Accenture. Highlighting the force multiplier Palantir Foundry represents to Accenture’s clients, Accenture Applied Intelligence is working with Palantir to build an innovation center — the Accenture Palantir Studio — housing over 1000 experts on Foundry who will build and design new cutting edge solutions. With the creation of this new innovation center, Accenture will be expanding their capabilities in Palantir Foundry to bring newfound value to their clients.
The part that was interesting to me about this was this "Accenture Palantir Studio." It seems like the concept is to have 1000 people who are skilled at understanding Foundry, Palantir's flagship software, inside and out. These people will then be called upon when Accenture has clients who need a specific use case for Foundry in their enterprise and ask them to help develop and create an innovative way for the client to use the product.
As a result, the client will derive more value from having Accenture as a consulting firm and also having Palantir implemented in their organization. If a client can immediately have access to this Accenture Palantir Studio in order to get new ideas and suggestions on how they can implement Foundry immediately, AND these 1000 experts can actually deliver on innovative unique solution for these clients within Foundry, this can be a solid partnership going forward.
What This Means Going Forward
Accenture has already been unlocking data driven insights for their clients. The combination with Palantir will take the solutions they will be able to provide to the next level. From the press release:
Accenture Applied Intelligence has a strong track record of driving data-powered AI and analytics solutions from customer engagement to pricing and B2B growth. Accenture also brings deep expertise in a broad diversity of industries and contextual know-how on specific business processes, expediting the integration of a software-defined data platform like Foundry.
“This alliance with Palantir will enhance how we integrate disparate datasets, ensure high data quality and richness, and apply new AI techniques to solve big problems — helping our clients get better insights and decisioning capabilities.” said Sanjeev Vohra, global lead, Accenture Applied Intelligence.
Now, the business value here can be exponential. Accenture's current clients include 91 of the Fortune Global 100 and more than three-quarters of the Fortune Global 500.
If this partnership goes well and initial clients start seeing immense value from using Foundry through Palantir's Innovation Studio with Accenture, more and more clients should end up giving Foundry a chance.
Accenture will have the ability and case studies to recommend Palantir to their clients, almost acting as a distribution channel for new clients. Accenture will have a business incentive to do this since they get paid based on the value of their strategetic solutions and recommendations.
If they recommend Palantir and Palantir is a great fit for an organization, the client keeps Accenture on payroll.
For Palantir, they sell high margin software. They are NOT a consulting firm, as talked about here. Accenture can lead them to new clients in which their sales team can then do the work of closing those clients onto bigger deals.
If this works, there is a lot of potential for Palantir to grow their client base massively because of Accenture's recommendations. Over the next few quarters we will likely see how much value this partnership is providing Palantir in terms of new business.