Virtusa to Increase Speed, Reduce Costs of Critical Digital Transformation Initiatives

Rhea-AI Summary

Virtusa Corporation (NASDAQ GS: VRTU) has launched its Digital Transformation Studio (DTS), aimed at enhancing the delivery speed and reducing costs of digital transformation projects. The platform, developed from a multi-year research initiative, targets common pitfalls in digital transformations and promises a 30% productivity improvement. DTS comprises three components: Engineering Tools for automation, Reusable Industry Assets to streamline coding, and Certified Teams proficient in agile methodologies. The initiative emphasizes maximizing investment returns in digital transformation.

Positive

• Launch of Digital Transformation Studio (DTS) aimed at speeding up digital transformation projects and cutting costs.
• Expected 30% productivity improvement through DTS.
• DTS's engineering tools enhance quality and speed by automating software development lifecycle (SDLC) processes.
• Reusable assets like AI models and cloud middleware reduce coding time and costs.
• Certified teams trained in agile methodologies promote scalable and efficient project execution.

Negative

• None.

SOUTHBOROUGH, Mass., May 28, 2020 (GLOBE NEWSWIRE) -- Virtusa Corporation (NASDAQ GS: VRTU), a global provider of digital strategy, digital engineering, and IT services and solutions that help Global 2000 clients accelerate transformation through innovation engineering, today announced its new Digital Transformation Studio (DTS), a proprietary platform and approach designed to increase the delivery speed and dramatically reduce the costs of business critical digital transformation projects. 

According to a past study by McKinsey, 84% of respondents say their organizations’ digital transformations have failed to improve performance or to sustain the transformational changes in the long term. To better understand causality, Virtusa led a multi-year research project to gain deeper insights into the anatomy of successful digital transformation initiatives across key industries, including Financial Services, Insurance, Healthcare, Life Sciences, Telecommunications, Technology, Media, and Entertainment. The research included extensive input from customers, industry experts, partners, and Virtusa front-line employees.

DTS was born from the research findings.  The platform was designed to mitigate many of the typical issues plaguing traditional digital transformation efforts, while enabling a 30% overall productivity improvement. DTS allows Virtusa teams to set specific performance goals with each client focused on areas including reducing technical debt, improving time to market, or reducing costs.

DTS includes three key components:

Engineering Tools that drive SDLC automation to improve quality, enable speed, and increase productivity. These include Smart Application Lifecycle Management tools to improve user stories and provide a story point estimation model; proprietary Gamified Dashboards to promote transparency, quality, and productivity metrics; and end-to-end CI/CD pipeline that automates code quality review, testing, and release management.

Reusable Industry Assets collected and improved through Virtusa’s Open Innovation Platform that strives for a near-zero approach to coding. These include AI Model Zoo and Data Lake with over thirty pre-trained AI/ML models trained on synthetic datasets with 10MM customers, and 500MM transactions; Cloud Native Middleware with prebuilt microservices, boilerplate code generators, and multiple legacy system connectors; and API Lifecycle Toolkits to manage onboarding, QoS, security, distributed tracing, and logging of deployed services.

Certified Teams pre-trained on agile processes, technology, domain, and Virtusa's engineering tools and assets. A Developer Portal opens challenges and hackathons to a community of developers. Using an agile methodology, teams are configured in squads and tribes to promote scalability and growth. Teams also use a Solutions Assembly Sandbox to assemble Digital Solutions from the asset library. 

“Given today’s challenges, enterprises need to maximize every dollar invested in digital transformation initiatives,” said Kris Canekeratne, chairman and CEO, Virtusa. “DTS was built from the ground up to increase the speed and success rate of these business critical projects dramatically. With gamified dashboards to promote transparency and improve performance, reuse of industry assets to save time and money, and pre-trained and certified teams with experience in key industries, we can predict digital transformation successes very early in engagements with clients.” 

The impact of DTS is expanded by its integration with Virtusa’s Global Technology Office and xLabs, which combine design thinking and digital engineering to reduce the time and costs associated with identifying, evaluating, and exploiting new technologies to create a competitive advantage. Once new solutions are built, tested, and successfully deployed for clients in Global Technology Office and xLabs, those solutions are transferred to DTS for componentization and reuse.

To learn more about Virtusa’s Digital Transformation Studio, please visit: http://virtusa.com/dts

About Virtusa Corporation
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 accelerate transformation 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.

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

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/95af2c34-b193-4fb7-b7b7-0ff3812a3136

FAQ

What is Virtusa's Digital Transformation Studio (DTS)?

DTS is a new platform launched by Virtusa designed to enhance the speed and reduce the costs of digital transformation projects.

What productivity improvement does Virtusa expect from DTS?

Virtusa expects a 30% overall productivity improvement from the use of its Digital Transformation Studio.

What are the key components of Virtusa's DTS?

The key components of DTS include Engineering Tools, Reusable Industry Assets, and Certified Teams.

How does DTS plan to tackle issues with traditional digital transformation efforts?

DTS addresses traditional issues by automating processes, utilizing reusable assets, and deploying certified teams to improve efficiency.

When was the Digital Transformation Studio launched by Virtusa?

The Digital Transformation Studio was launched on May 28, 2020.