Virtusa

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Virtua Corporation
Type Public
Traded as NASDAQ: VRTU
Industry Information Technology Services
Founded 1996- Colombo, Sri Lanka
Founder(s) Kris Canekeratne
Tushara Canekeratne
Headquarters Westborough, Massachusetts, USA
Number of locations United States, United Kingdom, Germany, The Netherlands, Hungary, India, Singapore and Sri Lanka
Services Consulting, Business Consulting, Application Development, Product Development, Legacy Asset Management
Revenue $ Increase 333.20 million (FY13)[1]
Net income $ Increase 28.4 million (FY13)[1]
Employees 7100 (As of 2013)[2]
Website www.virtusa.com

Virtusa Corporation (NYSE: VRTU) is a global information technology services company founded in Sri Lanka and headquartered at Westborough, Massachusetts, USA. The company provides IT Consulting, Business Consulting, Systems Implementation and Application Outsourcing services to large enterprises and software vendors.

Virtusa has partnerships with global software vendors including IBM, Microsoft, SAP, Pegasystems, OpenText and Oracle Corporation among others, to provide custom solutions and services in Business Process Management (BPM), Enterprise Content Management (ECM), Enterprise mobility management, Data Warehousing and Business Intelligence as well as ERP Services and Business Consulting. The company, founded in 1996, has delivery centers in U.S., U.K., Singapore, Germany, Malaysia, Netherlands, India, and Sri Lanka.

Corporate history

Virtusa was founded as ‘Software Solutions’ in 1997. The company was later renamed as ‘Technology Providers International’ and was involved in software development. In 1998, the company opened their head office at Westborough, Massachusetts and the company was incorporated as Technology Providers Inc. in the United States. In year 2000, Technology Providers International was renamed ‘eRUNWAY Inc.’ and offered eBusiness, Internet software development and systems integration services. eRUNWAY was re-launched as ‘Virtusa Corporation’ on April 22, 2002. The name Virtusa is derived from the Latin "virtus" meaning excellence. Virtusa went public on August 3, 2007 by listing on the NASDAQ exchange. In 2009, Virtusa acquired InSource, a technology consulting company with specialization in the Insurance and Healthcare industries. InSource[3] is based in Hartford, Connecticut, USA. In 2010, the company acquired ConVista Consulting, LLC,[4] a U.S.-based, privately held, market leader in finance transformation, specifically focusing on high volume collection, disbursement, claims and billing systems in BFSI. The following year, Virtusa acquired ALaS Consulting LLC,[5] a Financial Services Consulting Firm.

Virtusa at Orion City Sri Lanka

Operations

Virtusa provides technology solutions and services to Banking & Financial Services, Insurance, Communications and Technology and Media and Information. In addition to developing custom solutions for customers, the company offers services across Business Process Management (BPM), Enterprise Content Management (ECM) and Data Warehousing and Business Intelligence among others. The company uses a global delivery framework, through its delivery centers in India and Sri Lanka, to deliver solutions and services to its customers.

Competition

Some of its key competitors in the Offshore IT Services industry include Infosys, Wipro, Cognizant, HCL and Tata Consultancy Services among other organizations.

Community Support

The company has a community support program that focuses on education and uses its IT competencies for meeting the needs of the community.

  • A team from Virtusa designed and developed a school management system, AKURA,[6] to assist schools with an effective mechanism to manage daily activities involved in running a school. The school management system allows easy and centralised access to student information such as their schedule, report cards, attendance, grades, extracurricular activities, etc., as well as teacher information such as experience, schedules, etc. Through the system teachers and parents can collaboratively view students’ progress. The system has been adopted by schools and universities from across different countries and downloaded more than 6,000 times.[7]
  • Virtusa recently facilitated setting up IT laboratories for fifty schools in the Uva province of Sri Lanka. The program was carried out in partnership with a local university in Sri Lanka.[8]
  • Earlier, in 2010, the company leveraged its technology/QA expertise to support the One laptop per child (OLPC) program[9]
  • In the wake of Tsunami in 2004, its employees actively participated in the development of Sahana, an open source based disaster management.

Offices

References

  1. ↑ 1.0 1.1 http://finance.yahoo.com/news/virtusa-announces-record-fourth-quarter-200500327.html
  2. ↑ "About the Company". Virtusa. Retrieved 2013-02-07. 
  3. ↑ http://www.insurancetech.com/management-strategies/virtusa-acquires-insource/221600806.  Missing or empty |title= (help)
  4. ↑ Marino, Jonathan. http://www.themiddlemarket.com/news/virtusa-completes-convista-buy-202700-1.html.  Missing or empty |title= (help)
  5. ↑ http://www.themiddlemarket.com/news/virtusa-completes-convista-buy-202700-1.html.  Missing or empty |title= (help)
  6. ↑ http://www.sundaytimes.lk/120603/BusinessTimes/bt16.html.  Missing or empty |title= (help)
  7. ↑ http://finance.yahoo.com/news/virtusa-wins-2012-witsa-global-140000339.html.  Missing or empty |title= (help)
  8. ↑
  9. ↑ "Virtusa supports One Laptop per Child Program – Press Releases on". Csrwire.com. 2010-07-29. Retrieved 2012-10-15. 

External links

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