Virtusa Corporation (NASDAQ GS:VRTU), a global provider of
digital strategy, digital engineering, and IT outsourcing services
that accelerates business outcomes for its clients, today announced
that it has been positioned as a Visionary in Gartner, Inc.’s 2018
Magic Quadrant for IT Services for Communications Service
Providers, Worldwide. Virtusa was evaluated among 12 total vendors
and recognized as a Visionary for the second consecutive year.
According to Gartner, “Based on CSP feedback in this Magic
Quadrant and the previous interaction, as well as our continuous
industry discussions, it is clear that: Excellence of the actual
service offering is more important than customer feedback for CSP
vendor evaluation; the CSP main focus has already shifted to
‘digital’ services; CSPs are looking for advice and best practices
beyond traditional telecom boundaries; and understanding of new
digital value measurements is in its infancy in the industry — both
on the customer and the supplier side.”
Gartner evaluated vendors based on completeness of vision and
ability to execute. The criteria for completeness of vision
included market understanding, marketing strategy, sales strategy,
offering (product) strategy, business model, vertical/industry
strategy, innovation and geographic strategy. For ability to
execute, the criteria included the product or service, its overall
viability, sales execution/pricing, market responsiveness/record,
marketing execution, customer experience, and operations.
“We are delighted to be recognized as a Visionary in the Magic
Quadrant for the second year in a row,” said Srinivasan Jayaraman,
SBU Head, Communications, Media, Information, and Entertainment,
Virtusa. “For CSPs to effectively tap the emerging opportunities
from convergence, they need to transform themselves into a
high-tech provider for their customers. Our recent study shows that
the Telco industry across the U.S. and EMEA lags behind other
industries in digital transformation, particularly in the areas of
customer experience and business agility. Virtusa’s unique digital
transformation maturity model has been helping CSPs address some of
these crucial elements of their transformational journey by
streamlining their customer experience delivery, enabling them to
accelerate their innovation velocity to tap newer, addressable
markets and leverage automation to drive efficiencies in their
operations.”
Virtusa brings over 15 years of experience serving wireline and
wireless service providers in digital and network transformations
across geographies. Currently serving seven of the Top 15 CSPs,
Virtusa brings differentiated value to its clients through its
laser focus on developing solution accelerators for digital and
network intelligence and also by helping drive tech innovation by
cross-leveraging the innovation and application of emerging
technologies from other industries for use in the Telecom
market.
“As frontrunners in blockchain, we’re delivering solutions that
lean out our telco clients’ advertising, contract management,
settlement, and asset management functions. We’re also using AI to
target 95% accuracy in predicting Main Fault in service assurance,”
said Ravi Kumar Palepu, vice president and global head of Telco
Solutions, Virtusa. “We have made numerous strategic investments in
these and other emerging technologies to improve return on
investment and time to market for our clients.”
To download a complimentary copy of the Gartner Magic Quadrant
for IT Services for Communications Service Providers, Worldwide,
visit: http://ww2.virtusa.com/gartnermqcsp2018
Gartner does not endorse any vendor, product or service depicted
in its research publications, and does not advise technology users
to select only those vendors with the highest ratings or other
designation. Gartner research publications consist of the opinions
of Gartner’s research organization and should not be construed as
statements of fact. Gartner disclaims all warranties, expressed or
implied, with respect to this research, including any warranties of
merchantability or fitness for a particular purpose.
About Virtusa Corporation
Virtusa Corporation (NASDAQ GS: VRTU) is a global provider of
Digital Business Transformation, Digital Engineering, and
Information Technology (IT) outsourcing services that accelerate
our clients’ journey to their Digital Future. Virtusa serves Global
2000 companies in Banking, Financial Services, Insurance,
Healthcare, Telecommunications, Media, Entertainment, Travel,
Manufacturing, and Technology industries.
Using a combination of digital strategy, digital engineering,
business implementation, and IT platform modernization services,
Virtusa helps clients execute successful end-to-end digital
business transformation initiatives.
Virtusa engages its clients to re-imagine their business models
and develop strategies to defend and grow their business by
introducing innovative products and services, developing
distinctive digital consumer experiences, creating operational
efficiency using digital labor, developing operational and IT
platforms for the future, and rationalizing and modernizing their
existing IT applications infrastructure. As a result, its clients
are simultaneously able to drive business growth through
digital-first customer experiences, while also consolidating and
modernizing their IT application infrastructure to support digital
business transformation.
Holding a proven record of success across industries, Virtusa
readily understands its clients' business challenges and uses its
domain expertise to deliver innovative applications of technology
to address its clients’ critical business challenges. Examples
include building the world's largest property & casualty 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.
Founded in 1996 and headquartered in Massachusetts, Virtusa has
operations in North America, Europe, and Asia.
© 2018 Virtusa Corporation. All rights reserved.
Virtusa, Accelerating Business Outcomes, BPM Test Drive and
Productization are registered trademarks of Virtusa Corporation.
All other company and brand names may be trademarks or service
marks of their respective holders.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20181018005075/en/
GreenoughAmy Legere, 617-275-6517alegere@greenough.biz
Virtusa (NASDAQ:VRTU)
Historical Stock Chart
From Mar 2024 to Apr 2024
Virtusa (NASDAQ:VRTU)
Historical Stock Chart
From Apr 2023 to Apr 2024