Virtusa Launches New Services that Balance the Need to Reduce Costs and Maintain Innovation

Rhea-AI Summary

Virtusa Corporation (NASDAQ GS: VRTU) has launched new enterprise cost optimization services aimed at helping clients balance the need for cost reduction and market competitiveness. Amid adverse global market conditions, these services cater to various industries including Banking, Healthcare, and Manufacturing. The initiative enhances clients' operational efficiency through seven key capabilities, such as Smart Automation and Cloud Migration. Virtusa aims to enable clients to achieve maximum value from existing investments while supporting innovation.

Positive

• Launch of enterprise cost optimization services to address client needs amid global market challenges.
• Focus on automation and operational efficiency could lead to increased client engagement and satisfaction.
• Broad applicability across several key industries enhances Virtusa's market penetration potential.

Negative

• None.

SOUTHBOROUGH, Mass., July 22, 2020 (GLOBE NEWSWIRE) -- Virtusa Corporation (NASDAQ GS: VRTU), a global provider of digital strategy, digital engineering, and IT services and solutions that help clients change and disrupt markets through innovation engineering, today announced new enterprise cost optimization services that balance the need to reduce cost and remain competitive.

Adverse global market conditions are impacting all industries forcing companies to focus strategically on cost-cutting, cost optimization, and value growth. Based on thousands of engagements with enterprise customers, Virtusa has developed a proven approach to reducing cost while maintaining innovation across several key industries, including Banking, Financial Services, Insurance, Healthcare, Life Sciences, Communications, Media, Entertainment, Travel, Manufacturing, and Technology.

“Organizations have turned their focus to spend, both existing and planned, with higher scrutiny than ever before,” said Samir Dhir, president and head of Americas, Virtusa. “Initiatives that are proven to reduce operating costs are seeing a significant increase in activity among our clients. Leaders are keen to validate the incremental business value delivered from these initiatives, as well as the optimization of cost driven through automation and low-code models. Virtusa’s Enterprise Cost Optimization services help prioritize and restructure existing investments to deliver maximum value.”

These seven key capabilities – delivered through Virtusa’s Digital Transformation Studio, a proprietary platform and approach designed to increase the delivery speed and reduce the costs of business-critical digital transformation projects – include:

Smart Automation: Reduce costs through high-efficiency automation with little, to no, human error.

Workforce Optimization: Right-size and best-shore resources, including remoting through hyper-distributed agile.

Application Portfolio Rationalization: Identify application cost, simplify, and modernize application portfolios.

Cloud Migration: Leverage a pay-per-use subscription model and economies of scale, reduce complex operational management, and eliminate asset ownership.

Infrastructure Transformation: Eliminate hardware and software costs through re-platforming.

De-risk Non-strategic Vendors: Assimilate disparate teams provided by multiple suppliers into Virtusa’s unified SDLC framework, distributed Agile teams, and remote working solutions to improve productivity and effectiveness.

License and Cloud Consumption: Align spend to utilization and avoid over licensing.

Recognizing the need for flexibility, Virtusa offers innovative engagement options, including gain sharing and self-funding models.

For additional information, please visit virtusa.com

About Virtusa
Virtusa Corporation (NASDAQ GS: VRTU) is a global provider of digital business strategy, digital engineering, and information technology (IT) services and solutions that help clients change, disrupt, and unlock new value through innovation engineering. Virtusa serves Global 2000 companies in the Banking, Financial Services, Insurance, Healthcare, Communications, Media, Entertainment, Travel, Manufacturing, and Technology industries.

Virtusa helps clients grow their business with innovative products and services that create operational efficiency using digital labor, future-proof operational and IT platforms, and rationalization and modernization of IT applications infrastructure. This is achieved through a unique approach blending deep contextual expertise, empowered agile teams, and measurably better engineering to create holistic solutions that drive business forward at unparalleled velocity enabled by a culture of cooperative disruption.

Virtusa is a registered trademark of Virtusa Corporation. All other company and brand names may be trademarks or service marks of their respective holders.

Ron Favali
Conversion Marketing
ron@conversionam.com
727-512-4490

FAQ

What is Virtusa's new service announced on July 22, 2020?

Virtusa announced new enterprise cost optimization services aimed at helping clients reduce costs while maintaining competitiveness.

How can Virtusa's services benefit industries like Banking and Healthcare?

Virtusa's services provide tailored solutions for cost reduction and operational efficiency across multiple industries, enhancing overall business value.

What are the key capabilities of Virtusa's Enterprise Cost Optimization services?

Key capabilities include Smart Automation, Workforce Optimization, Cloud Migration, and Application Portfolio Rationalization among others.

How does Virtusa plan to support digital transformation?

Virtusa uses its Digital Transformation Studio to increase delivery speed and reduce costs in business-critical projects.