What's going on?

Accenture reported better-than-expected results on Thursday, as more and more businesses ruthlessly scrap their once-beloved hardware in favor of cloud computing. N�aww.

What does this mean?

At a time when �flexibility� has become the hot new business buzzword, companies specializing in everything from healthcare to financial services have been scrambling to shift their centralized IT operations to the cloud � and they�ve been turning to Accenture to help them do just that. The company, for its part, is feeling so confident that everyone�s going to keep asking for help that it even raised its full-year forecast: the firm�s expecting sales to grow by around 7.5% compared to the year before, up from its previous forecast of 5%. That�ll do, Accenture: investors sent its shares to all-time highs on Thursday.

Why should I care?

Zooming in: Small acquisitions > big acquisitions.

Accenture�s strategy for staying at the cutting edge of tech � across everything from digital marketing to industrial automation � is to buy other businesses and soak up their talent and ideas. The company�s announced at least 65 takeovers in the last two years alone � more than any other major business, and an average of one every week and a half. Most of the deals are small in size, sure, but that might be to Accenture�s advantage: research from McKinsey suggests that lots of smaller acquisitions over time add more value than one tentpole buy.

The bigger picture: Accenture is spreading its bets.

Cloud computing is big business: $1 trillion big. And while Accenture�s cloud software segment might not be anywhere near as substantial as, say, frontrunner Amazon, it has settled into a snug position as both cloud consultancy and cloud provider. In other words, it both advises clients on how to implement cloud computing and offers services of its own � meaning it�ll get paid even if they end up plumping for one of the bigger players.