Deutsche Bank (XETRA: DBKGn.DE / NYSE: DB) has signed a master services agreement with Accenture to enter into a business process outsourcing relationship for Corporate Purchasing and Accounts Payable services worldwide. The terms and conditions of the contract were not disclosed.
Accenture will provide resources such as state-of-the-art systems, tools and processes to manage the entire procure-to-pay process. Deutsche Bank will retain responsibility over supplier selection and supplier relationships, as well as approvals and authorisations for purchasing activities and payment.
The global framework agreement reached with Accenture will be followed by individual country agreements due specific local processes throughout 2004.
This initiative is in line with Deutsche Bank’s strategy to concentrate on its core competencies.
Forward-looking statements involve inherent risks and uncertainties. A number of important factors could therefore cause actual results to differ materially from those contained in any forward-looking statement. Such factors include the conditions in the financial markets in Germany, in Europe, in the United States and elsewhere from which we derive a substantial portion of our trading revenues; potential defaults of borrowers or trading counterparties; the implementation of our restructuring including the enivsaged reduction in headcount; the reliability of our risk management policies, procedures and methods; and other risks referenced in our filings with the U.S. Securities and Exchange Commission. Such factors are described in detail in our SEC Form 20-F of March 27, 2003 on pages 9 through 13 under the heading "Risk Factors." Copies of this document are readily available upon request or can be downloaded from www.deutsche-bank.com/ir.