WESTBOROUGH, Mass.--(BUSINESS WIRE)--VirtusaPolaris, the market-facing brand of Virtusa Corporation and Polaris Consulting & Services, Ltd. and a leading worldwide provider of information technology (IT) consulting and outsourcing services, and WorkFusion, the leading smart process automation (SPA) provider, today announced a partnership to deliver new smart automation solutions for the banking and financial services (BFS) market. The combination of VirtusaPolaris’ deep BFS industry and process expertise and WorkFusion’s cutting edge platform will help clients reduce operational costs, while improving quality, productivity and agility.
“Most financial services organizations continue to struggle with inefficient legacy systems that have not kept pace with the change in business and regulations, introducing gaps in process automation that negatively impact efficiency of business operations. Many of these gaps are low complexity high volume routine process steps and most organizations have deployed large operational workforces, frequently offshore, to handle these processes,” said Bob Graham, global solutions head, Banking and Financial Services at VirtusaPolaris. “WorkFusion’s combination of robotic and cognitive automation supported by VirtusaPolaris’ expert consulting and implementation services allow customers to improve quality through greater accuracy and the removal of human error, reduce costs through rapid automation of manual tasks, and accelerate time to market with our proven delivery approach.”
At the core of WorkFusion’s SPA software are three powerful capabilities: workforce orchestration, robotic process automation (RPA) and cognitive automation which, together, help organizations improve workforce agility and elasticity and automate manual processes through rapidly evolving AI. Robotics eliminate the manual work of operating desktop applications and manipulating structured data, and cognitive automation learns unstructured data tasks through human actions. As WorkFusion automates more repetitive work, staff are elevated to exceptions handling and higher value tasks. Clients are able to achieve 50 to 80 percent ROI within the first year.
VirtusaPolaris supports WorkFusion deployments globally through its Automation Center of Excellence through which it provides domain specific WorkFusion accelerators to help deliver even faster time to market and value to clients.
“We are excited to be working with VirtusaPolaris and to bring our combined capability to market,” Alex Lyashok, WorkFusion COO said. “Shared services, back- and middle-office operations teams are realizing the combined value of robotic and cognitive automation. They use our software to improve the efficiency of processes that range from accounts payable and invoice processing to know your customer (KYC) and claims processing. Our partnership with VirtusaPolaris will provide clients an even greater depth of expertise in processes coupled with the best automation technology on the market.”
WorkFusion is the leading smart process automation solution for enterprise operations. Global businesses in data-intensive industries use WorkFusion to automate high-volume business processes through a combination of workforce orchestration, robotics, and machine learning powered cognitive automation. These capabilities enable customers to improve customer service, increase operational agility, and reduce costs. WorkFusion is headquartered in New York City with offices in London and Eastern Europe. For more information, please visit www.workfusion.com.
VirtusaPolaris, the market-facing brand reflecting the combined strengths of Virtusa Corporation and Polaris Consulting & Services, Ltd. is a global provider of information technology (IT) consulting and outsourcing services that accelerate business outcomes for Global 2000 companies and leading software vendors in banking and financial services, insurance, healthcare, telecommunications, technology, media and entertainment.
VirtusaPolaris’ solutions address the CXOs’ dual challenge of growing revenues while improving IT cost efficiencies. VirtusaPolaris’ digital services leverage innovative new technologies to reimagine the customer experience, increasing retention and creating lasting value. VirtusaPolaris’ preemptive outsourcing solutions help clients reduce risk and improve IT operations.
VirtusaPolaris delivers services across the IT lifecycle, including consulting, solution design, technology selection, implementation, testing and maintenance & support, including infrastructure support. Inheriting a strong heritage in software engineering, VirtusaPolaris is highly qualified to both develop and maintain software, using a proven platforming methodology and advanced Agile and Accelerated Solution Design techniques to reliably produce results on time and within budget.
Holding a record of success across industries and unparalleled domain expertise, VirtusaPolaris understands clients’ business challenges best and uses that to deliver distinctive, differentiated and innovative application of technology to solve those problems. Examples of large business transformations completed include the world’s largest P&C claims modernization program, one of the largest corporate customer portals for a premier global bank, an order to cash implementation for a multinational telecommunications provider, and digital transformations for media and banking companies.
Virtusa Corporation is headquartered in Massachusetts, and together with Polaris, has 50 offices across North America, Europe and Asia.
Polaris Consulting & Services is a subsidiary of Virtusa Corporation. Copyright © 2016 Virtusa Corporation. All Rights Reserved.