Key Highlights
- In August 2000, Andersen Consulting was forced to change its name due to a legal dispute with Arthur Andersen.
- The company had only four months to come up with a new identity, including a fresh name and rebranding materials.
- Around 65,000 employees worldwide were involved in the naming process through an open “brandstorming” initiative.
- After extensive market research, the name “Accenture” was chosen and officially launched in October 2000.
The Legal Dispute and Urgent Rebranding
In August 2000, Andersen Consulting faced a critical turning point. Following a long-standing dispute with its parent company Arthur Andersen, the firm was compelled to rename itself by January 1, 2001. This decision came as an arbiter ruled that Andersen Consulting needed a complete separation from Arthur Andersen.
The rebranding project was a massive undertaking, requiring just 80 days for naming and other branding elements such as logos, signage, and business materials. The urgency of the task highlighted the need for immediate action to distance the firm from its parent company’s controversial past.
Global Brandstorming Process
The rebranding process was not kept in secrecy but was open to all 65,000 employees worldwide. This unique approach to naming projects allowed for a broad range of ideas, fostering a sense of ownership and engagement among staff members.
Around 550 names were shortlisted after being vetted legally, and these went through rigorous market research in over 47 countries across 65 languages. The goal was to ensure the chosen name would resonate globally while passing legal scrutiny.
The Launch and Success of “Accenture”
In October 2000, a major meeting was held in Miami with 2,500 senior partners to unveil the new name “Accenture.” The presentation, initially planned for live demonstration, was instead recorded for later viewing. Despite this, the chosen name stood out as it sounded modern, professional, and forward-looking.
The name “Accenture” won over 96% of votes among the final 50 options proposed by employees. This robust support solidified its position as Andersen Consulting’s new identity.
Over the last 25 years, Accenture has grown significantly, with employee numbers expanding from 65,000 in 2001 to over 779,000 today. Financial performance also surged, with revenue increasing from $11.44 billion to $69.67 billion.
The successful rebranding of Andersen Consulting to Accenture stands as a testament to the power of collaborative effort and strategic planning in creating a strong corporate identity that resonates globally.
