Accenture Acquires Flutura To Fastrack Self-Service And Net Zero Analytics Capabilities For Energy Industries

Accenture Acquires Flutura To Fastrack Self-Service And Net Zero Analytics Capabilities For Energy Industries

On 21^st March 2023, global professional services firm Accenture announced an agreement to acquire AI analytics provider Flutura. Founded in 2012 and co-headquartered in Houston, US and Bengaluru, India, Flutura offers the ability to integrate first-principle-based modelling with machine learning (ML) to deliver enhanced strategies for improved environmental performance and asset uptime. The acquisition is aimed at boosting Accenture's data and AI-related capabilities to provide its clients with comprehensive and advanced services for improving asset performance, reliability, throughput, and energy efficiency outcomes of industrial facilities.

The Flutura acquisition comes at a time when industrial assets are generating vast amounts of data from sensors, presenting business leaders with the challenge of how to effectively use it. At the same time, rising energy costs, economic challenges, and the push for emissions reduction are driving organizations to balance productivity, quality and environmental impact. In the most recent Verdantix operational excellence global corporate survey, over 80% of respondents mentioned data management activities as an ‘important’ or ‘very important’ priority for their firm in 2023. AI analytics platforms, such as Flutura’s Cerebra, offer the capability to collect and store data from multiple sources while also providing easy-to-use self-service analytics and configuration tools for engineers to respond quickly in ever-changing market and operating conditions. Flutura emerged as an innovator in our recent APM Green Quadrant. It garnered the highest score of 3.0/3.0 for environmental performance due to its strong capabilities for assisting industrial companies in monitoring and reducing carbon and GHG emissions by addressing Scope 1, 2, and 3 emissions, improving reporting efficiency and optimizing energy consumption.

Accenture's acquisition of Flutura is expected to particularly focus on supporting plants, refineries, and supply chains across the APAC, LATAM and Middle East regions to reach net zero goals faster. The purchase is part of Accenture's larger strategy to accelerate time to value for its clients by providing the right tools, strategy and analytics to reap the benefits of data-driven decision-making. A Leader in our 2020 Operational Excellence Digital Services Green Quadrant, Accenture is also looking to scale at speed and further strengthen its position as an industrial asset management services provider.

In a similar vein, other players in this space are striving to enhance data management and self-service analytics capabilities to ease adoption barriers. In August 2022, Itus Digital launched its Asset Risk Analyzer (ARA) solution, a free tool to assess industrial asset risk and criticality to quickly generate insights into asset performance and failures. Two months later, AspenTech acquired inmation Software to improve data management and scalability, before launching its DataWorks solution in February 2023. At the beginning of 2023, Baker Hughes announced the release of multiple new solutions (including Leucipa and Cordant) to help customers break down data silos while improving performance and reducing emissions.

To find out more about industrial asset management, check out research from the Verdantix Operational Excellence team.