'Apart from giving advice, we also help clients implement change by bringing in experts,' he said.

'We felt that 'consulting' no longer reflected our business. We're moving beyond the consulting model to being an architect and a market-maker.'

While Accenture built its reputation from its management and technology consulting business, it has created other businesses as part of plans to restructure.

'We're building a network of businesses to meet the needs of any 21st century organisation,' said Mr Newton.

This includes creating a venture-capital unit, and making alliances with companies such as Nortel Networks, Siebel Systems and Ariba.

Mr Newton believed these new businesses would complement the company's traditional consulting and out-sourcing arms.

Last year, the company's venture-capital unit, Accenture Technology Ventures, invested in about 50 companies, mostly in the technology sector.

In the past nine months, Accenture has set up 29 business launch centres worldwide, of which six are in the Asia-Pacific region.

According to manager Albert Chan, these centres aim to help new economy clients set up businesses.

'Although enthusiasm in technology companies has cooled since the dotcom shake-out, we believe the sector still has a lot of potential,' he said.

'We work with new-economy companies over viable models that will help build and sustain their businesses.'

Accenture, which employs 70,000 personnel in 46 countries, is the world's largest consulting firm.