Accenture and Big Four chase mid-sized clients as AI cuts costs (opens the source in a new tab)
- Accenture and the Big Four accounting firms are moving downmarket, the FT reports, betting mid-sized companies can offset slower growth from blue-chip clients. Accenture launched a unit in June for companies with $300mn to $3bn in revenue.
- KPMG says private companies are its fastest-growing clients and that without new markets it would have to shrink its workforce. EY says AI lets it sell work such as due diligence more cheaply.
- Mid-market specialists such as Grant Thornton say serving these clients well takes more than wanting to.
- 8%
- Share of Accenture's revenue from mid-market clients
Why it matters The same AI efficiency that threatens junior consulting jobs is being used to find new customers and keep headcount up. If it works, mid-sized companies get big-firm expertise at lower prices.
Other side Big firms have chased the middle market before whenever large clients cut back, and smaller clients often doubt they will get the same attention. AI could also let those clients skip consultants altogether.