BusinessWire India
Hyderabad (Telangana) [India], December 24: Accordion, a financial consulting firm focused on private equity, has expanded its investment in India, which serves as the hub for its industry-pioneering data and analytics (D&A) practice. The company has recently opened its new 1,500-seat-capacity office in Hyderabad, which houses a workforce that has grown from 550 to 850 members in just over a year. The investment underscores Accordion's ambitious growth plans, which include additional hiring in India and expansion into Europe.
"For the private equity-backed CFO of 2024, a solid foundation in data & analytics is no longer a 'nice to have,' it's a 'must-have'," said Nick Leopard, CEO of Accordion. "As private equity shifts its focus from financial engineering to operational value creation, the onus is on CFOs to find ways to accelerate performance. To do so effectively, they must have access to strong D&A that will inform the right value creation strategies. Our investment in India reflects just how critical D&A has become to financial performance. By harnessing the expertise and innovation coming out of our India operations, we're not only building an industry-pioneering center of excellence within our company, but we're deepening our ability to provide performance accelerating insights to our clients."
Accordion's D&A practice, an outgrowth of its acquisition of Merilytics in May 2023, has become a key enabler of innovation, delivering critical insights through AI/Gen AI, advanced data technologies, value creation analytics, data management, and reporting solutions. Headquartered in Hyderabad, the practice serves as the backbone for all of Accordion's products and solutions, providing PE-backed companies with the kind of enhanced visibility that's required to drive meaningful value creation.
"PE investors are increasingly looking for value creation opportunities that drive growth and profitability in their portfolio companies," said Paavan Choudary, Head of Accordion's Data and Analytics practice. "We recognized quite early that Data & Analytics is a critical capability to identify and realize those value creation opportunities. Our India hub is a key commercial engine driving value for global clients throughout the U.S. and Europe."
The integration of data analytics capabilities into Accordion's service offerings has allowed the firm to enhance its competitive edge in the private equity space, combining financial and operational expertise with cutting-edge analytics. The result has been significant year-over-year growth, solidifying Accordion's leadership in delivering office of the CFO-focused solutions rooted in data and technology.
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