WESTBOROUGH, Mass.--(BUSINESS WIRE)--Virtusa Corporation (NASDAQ GS: VRTU), a global business consulting and IT outsourcing company that accelerates business outcomes for its clients, today announced it has been named a Top 15 Sourcing Standout by Information Services Group (ISG), a leading global technology research, market intelligence, and advisory firm.
Virtusa was among the leading providers in The Breakthrough Top 15 Sourcing Standouts for the Americas, Europe, Middle East and Africa (EMEA) and the Asia Pacific regions based on annual contract value (ACV) won over the last 12 months, according to the Q2 2017 Global ISG Index™. Now in its 59th consecutive quarter, the ISG Index™ provides an independent quarterly review of the latest sourcing industry data and trends.
“There is a seismic change happening in the IT outsourcing industry, with businesses looking for ways to break away from the traditional model, and moving towards applying automation and digital technology innovation to transform their businesses,” said Praveen Purushotham, global head of Marketing, Virtusa. “We are seeing increased demand for our transformational solutions and services due to our differentiated value proposition. Our IT outsourcing solutions and services address our clients’ strategic business goals of reducing operational costs and risk, while significantly improving IT support for emerging business demands. This recognition from ISG reinforces Virtusa’s reputation as a trusted partner providing best-in-class execution on large digital platforms and innovative thought leadership for clients across multiple industries.”
Virtusa's digital transformation and innovation (DTi) solutions enable clients to reimagine the customer experience, accelerate revenue growth, and create lasting business value. The company’s operational excellence (OE) solutions help clients reduce risk, improve operational efficiencies, and lower IT costs.
Each quarter, ISG names the top 15 commercial providers in the Big 15 (revenues of more than $10 billion), Building 15 (revenues between $1 billion and $10 billion) and Breakthrough 15 (revenues of less than $1 billion) categories in the Americas, EMEA and Asia Pacific regions. Each Top 15 category includes providers that compete in the traditional sourcing market, as well as those that compete in the as-a-service market, including IaaS and SaaS providers. Virtusa’s inclusion in the ISG Index™ is based on data the company submits to ISG each quarter.
“For nearly 15 years, the ISG Index™ has been the authoritative source for marketplace intelligence related to outsourcing transaction structures and terms, industry adoption, geographic prevalence, and service provider performance,” said Paul Reynolds, chief research officer at ISG. “Virtusa continues to establish itself as a leading and growing player in the global market for IT consulting and outsourcing services, based on its volume of business in relation to other industry providers.”
Through its enhanced global delivery model, proven software platforming approach, and overall industry expertise, Virtusa provides high-value IT services that enable its clients to innovate and reimagine their businesses, achieve cost savings, enhance business performance, accelerate time-to-market, increase productivity, and improve customer service. Virtusa’s unique outsourcing model, based on the Preempt-Accelerate-Compress framework, drives significantly improved outcomes — specifically across such industry verticals as banking and financial services (BFS), healthcare, and insurance — compared to traditional outsourcing models.
Earlier this year, Virtusa was recognized as an Outsourcing Leader by IAOP® in its 2017 Global Outsourcing 100 list. Reinforcing its market-leading position as a preferred IT outsourcing partner to global clients, Virtusa received an “All Star Company” distinction from IAOP® for the company’s size and growth, customer references, awards and certifications, programs for innovation, and programs for corporate social responsibility.
ISG (Information Services Group) (NASDAQ: III) is a leading global technology research and advisory firm. A trusted business partner to more than 700 clients, including 75 of the top 100 enterprises in the world, ISG is committed to helping corporations, public sector organizations, and service and technology providers achieve operational excellence and faster growth. The firm specializes in digital transformation services, including automation, cloud and data analytics; sourcing advisory; managed governance and risk services; network carrier services; technology strategy and operations design; change management; market intelligence and technology research and analysis. Founded in 2006, and based in Stamford, Conn., ISG employs more than 1,300 professionals operating in more than 20 countries — a global team known for its innovative thinking, market influence, deep industry and technology expertise, and world-class research and analytical capabilities based on the industry’s most comprehensive marketplace data. For more information, visit www.isg-one.com.
Virtusa Corporation (NASDAQ GS: VRTU) 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, and media & entertainment.
Virtusa helps CXOs' address the dual challenge of growing revenues while improving IT cost efficiencies. Virtusa's digital transformation & innovation (DTi) solutions enable clients to reimagine the customer experience, accelerate revenue growth and create lasting business value. The company’s operational excellence (OE) solutions help clients reduce risk, improve operational efficiencies, and lower IT costs.
Virtusa delivers services across the IT lifecycle, including consulting, solution design, technology selection, implementation, testing, and maintenance, including infrastructure support. With a strong heritage in software engineering, Virtusa is highly qualified to both develop and maintain software, using a proven platforming methodology and advanced Agile and Accelerated Solution Design techniques to reliably deliver results on time and within budget.
Holding a proven record of success across industries, Virtusa readily understands its clients' business challenges and uses its domain expertise to deliver distinctive, differentiated and innovative applications of technology to address its client critical business challenges. Examples include building 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 transformation initiatives for media and banking companies.
Through the acquisition of a majority interest in Polaris Consulting Services Ltd. in March 2016, Virtusa has created a robust platform to provide end-to-end solutions and services in banking and financial services, strengthening its positioning as a top, global FinTech services provider. Virtusa Corporation is headquartered in Massachusetts and has 50 offices across North America, Europe and Asia.
Polaris Consulting & Services is a subsidiary of Virtusa Corporation. Copyright © 2017 Virtusa Corporation. All Rights Reserved.