Virtusa
Encyclopedia
Virtusa Corporation is an information technology
services company headquartered at Massachusetts
, USA. The company provides IT Consulting, Systems Implementation and Application Outsourcing
services to Global 2000 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) and Data Warehousing and Business Intelligence
.
The company, founded in 1996, has offices and delivery centers in U.S., U.K., India
, Sri Lanka
and Netherlands
.
, Sri Lanka
.
In 1997, Software Solutions was renamed as ‘Technology Providers International’ and was involved in outsourced object-oriented software design and development services. In 1998 the company opened their head office in Westborough, Massachusetts
and the company was incorporated as Technology Providers Inc. in the United States
.
In 2000, during e-commerce trend, 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.
On November 5, 2009, Virtusa announced the acquisition of InSource,a technology consulting company with specialization in the Insurance and Healthcare industries. InSource is based in Hartford, Connecticut, USA and has approximately 50 employees.
In February 2010, the company acquired ConVista Consulting, LLC, 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 company opened a new campus in Nanakramguda, Hyderabad in September 2010.
(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.
, Wipro
, Cognizant, Mahindra-Satyam and Patni Computer Systems
among other organizations.
Information technology
Information technology is the acquisition, processing, storage and dissemination of vocal, pictorial, textual and numerical information by a microelectronics-based combination of computing and telecommunications...
services company headquartered at Massachusetts
Massachusetts
The Commonwealth of Massachusetts is a state in the New England region of the northeastern United States of America. It is bordered by Rhode Island and Connecticut to the south, New York to the west, and Vermont and New Hampshire to the north; at its east lies the Atlantic Ocean. As of the 2010...
, USA. The company provides IT Consulting, Systems Implementation and Application Outsourcing
Outsourcing
Outsourcing is the process of contracting a business function to someone else.-Overview:The term outsourcing is used inconsistently but usually involves the contracting out of a business function - commonly one previously performed in-house - to an external provider...
services to Global 2000 enterprises and software vendors.
Virtusa has partnerships with global software vendors including IBM
IBM
International Business Machines Corporation or IBM is an American multinational technology and consulting corporation headquartered in Armonk, New York, United States. IBM manufactures and sells computer hardware and software, and it offers infrastructure, hosting and consulting services in areas...
, Microsoft
Microsoft
Microsoft Corporation is an American public multinational corporation headquartered in Redmond, Washington, USA that develops, manufactures, licenses, and supports a wide range of products and services predominantly related to computing through its various product divisions...
, SAP
SAP AG
SAP AG is a German software corporation that makes enterprise software to manage business operations and customer relations. Headquartered in Walldorf, Baden-Württemberg, with regional offices around the world, SAP is the market leader in enterprise application software...
, Pegasystems
Pegasystems
Pegasystems Inc. is a provider of Business Process Management software solutions and a Business rules Platform based in Cambridge, Massachusetts.-History:Pegasystems was founded in 1983 by Alan Trefler...
, OpenText and Oracle Corporation
Oracle Corporation
Oracle Corporation is an American multinational computer technology corporation that specializes in developing and marketing hardware systems and enterprise software products – particularly database management systems...
among others, to provide custom solutions and services in Business Process Management
Business process management
Business process management is a holistic management approach focused on aligning all aspects of an organization with the wants and needs of clients. It promotes business effectiveness and efficiency while striving for innovation, flexibility, and integration with technology. BPM attempts to...
(BPM), Enterprise Content Management
Enterprise content management
Enterprise Content Management is a formalized means of organizing and storing an organization's documents, and other content, that relate to the organization's processes...
(ECM) and Data Warehousing and Business Intelligence
Business intelligence
Business intelligence mainly refers to computer-based techniques used in identifying, extracting, and analyzing business data, such as sales revenue by products and/or departments, or by associated costs and incomes....
.
The company, founded in 1996, has offices and delivery centers in U.S., U.K., India
India
India , officially the Republic of India , is a country in South Asia. It is the seventh-largest country by geographical area, the second-most populous country with over 1.2 billion people, and the most populous democracy in the world...
, Sri Lanka
Sri Lanka
Sri Lanka, officially the Democratic Socialist Republic of Sri Lanka is a country off the southern coast of the Indian subcontinent. Known until 1972 as Ceylon , Sri Lanka is an island surrounded by the Indian Ocean, the Gulf of Mannar and the Palk Strait, and lies in the vicinity of India and the...
and Netherlands
Netherlands
The Netherlands is a constituent country of the Kingdom of the Netherlands, located mainly in North-West Europe and with several islands in the Caribbean. Mainland Netherlands borders the North Sea to the north and west, Belgium to the south, and Germany to the east, and shares maritime borders...
.
Corporate history
Virtusa was founded as ‘Software Solutions’ in 1996 as a software development company. The company started in one of the back rooms of founder, Kris Canekeratne’s residence in ColomboColombo
Colombo is the largest city of Sri Lanka. It is located on the west coast of the island and adjacent to Sri Jayawardenapura Kotte, the capital of Sri Lanka. Colombo is often referred to as the capital of the country, since Sri Jayawardenapura Kotte is a satellite city of Colombo...
, Sri Lanka
Sri Lanka
Sri Lanka, officially the Democratic Socialist Republic of Sri Lanka is a country off the southern coast of the Indian subcontinent. Known until 1972 as Ceylon , Sri Lanka is an island surrounded by the Indian Ocean, the Gulf of Mannar and the Palk Strait, and lies in the vicinity of India and the...
.
In 1997, Software Solutions was renamed as ‘Technology Providers International’ and was involved in outsourced object-oriented software design and development services. In 1998 the company opened their head office in Westborough, Massachusetts
Massachusetts
The Commonwealth of Massachusetts is a state in the New England region of the northeastern United States of America. It is bordered by Rhode Island and Connecticut to the south, New York to the west, and Vermont and New Hampshire to the north; at its east lies the Atlantic Ocean. As of the 2010...
and the company was incorporated as Technology Providers Inc. in the United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
.
In 2000, during e-commerce trend, 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
NASDAQ
The NASDAQ Stock Market, also known as the NASDAQ, is an American stock exchange. "NASDAQ" originally stood for "National Association of Securities Dealers Automated Quotations". It is the second-largest stock exchange by market capitalization in the world, after the New York Stock Exchange. As of...
exchange.
On November 5, 2009, Virtusa announced the acquisition of InSource,a technology consulting company with specialization in the Insurance and Healthcare industries. InSource is based in Hartford, Connecticut, USA and has approximately 50 employees.
In February 2010, the company acquired ConVista Consulting, LLC, 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 company opened a new campus in Nanakramguda, Hyderabad in September 2010.
Milestone
- 1995: Founded as 'Software Solutions' in Colombo, Sri Lanka
- 1997: Renamed as Technology Providers International
- 1998: Opened office in Massachusetts, USA
- 2000: Technology Providers International was renamed as eRUNWAY, Inc.
- 2002: eRUNWAY was re-launched as 'Virtusa Corporation'
- 2004: Spearheaded the design and development of an open sourceOpen sourceThe term open source describes practices in production and development that promote access to the end product's source materials. Some consider open source a philosophy, others consider it a pragmatic methodology...
system for disaster relief, Sahana in the wake of the 2004 Asian Tsunami.2004 Indian Ocean earthquakeThe 2004 Indian Ocean earthquake was an undersea megathrust earthquake that occurred at 00:58:53 UTC on Sunday, December 26, 2004, with an epicentre off the west coast of Sumatra, Indonesia. The quake itself is known by the scientific community as the Sumatra-Andaman earthquake...
Sahana received the biggest award so far, the Free Software FoundationFree Software FoundationThe Free Software Foundation is a non-profit corporation founded by Richard Stallman on 4 October 1985 to support the free software movement, a copyleft-based movement which aims to promote the universal freedom to create, distribute and modify computer software...
's award for the social benefit on the 24th of March 2007. The awards ceremony at the annual FSF meeting, held at MIT in U.S.A, where they received the award from the founder of the FSF, Richard Stallman. The award, which is only one of two awards given by the FSF each year, was inspired by Sahana a year ago. The recipient of last year's award was Wikipedia, and Sahana follows in its footsteps this year. - 2007: Listed on NASDAQNASDAQThe NASDAQ Stock Market, also known as the NASDAQ, is an American stock exchange. "NASDAQ" originally stood for "National Association of Securities Dealers Automated Quotations". It is the second-largest stock exchange by market capitalization in the world, after the New York Stock Exchange. As of...
under the symbol 'VRTU' - 2008: Finalists 2008 U.S. Secretary of State’s Award for Corporate Excellence (ACE)
- 2009: Announces the acquisition of InSource, a specialist technology consulting company
- 2010: Announces the acquisition of ConVista Consulting, LLC,a U.S.-based, privately-held, market leader in finance transformation in BFSI
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 ManagementBusiness process management
Business process management is a holistic management approach focused on aligning all aspects of an organization with the wants and needs of clients. It promotes business effectiveness and efficiency while striving for innovation, flexibility, and integration with technology. BPM attempts to...
(BPM), Enterprise Content Management
Enterprise content management
Enterprise Content Management is a formalized means of organizing and storing an organization's documents, and other content, that relate to the organization's processes...
(ECM) and Data Warehousing and Business Intelligence
Business intelligence
Business intelligence mainly refers to computer-based techniques used in identifying, extracting, and analyzing business data, such as sales revenue by products and/or departments, or by associated costs and incomes....
among others.
The company uses a global delivery framework, through its delivery centers in India
India
India , officially the Republic of India , is a country in South Asia. It is the seventh-largest country by geographical area, the second-most populous country with over 1.2 billion people, and the most populous democracy in the world...
and Sri Lanka
Sri Lanka
Sri Lanka, officially the Democratic Socialist Republic of Sri Lanka is a country off the southern coast of the Indian subcontinent. Known until 1972 as Ceylon , Sri Lanka is an island surrounded by the Indian Ocean, the Gulf of Mannar and the Palk Strait, and lies in the vicinity of India and the...
, to deliver solutions and services to its customers.
Competition
Some of its key competitors in the Offshore IT Services industry include InfosysInfosys
Infosys Limited, formerly Infosys Technologies Limited is a global technology services company headquartered in Bangalore, India. It is the second largest IT exporter in India with 133,560 employees as of March 2011. It has offices in 33 countries and development centers in India, China,...
, Wipro
Wipro
Wipro Limited formally Western India Products Limited is a global IT services and consulting company headquartered in Bangalore, India. As of 2011, Wipro is the second largest IT services company by turnover in India and employs more than 120,000 people worldwide as of March 2011...
, Cognizant, Mahindra-Satyam and Patni Computer Systems
Patni Computer Systems
iGATE Patni , is a provider of Information Technology services and business solutions. The company employs over 15,000 people, and has 23 international offices across the Americas, Europe, and the Asia-Pacific region, as well as offshore development centres in eight cities in India...
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.- 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.
- In the wake of Tsunami in 2004, its employees actively participated in the development of Sahana, an open source based disaster management system.
Offices
- Corporate Headquarters - located in Westborough, MA, USA
- Other USA - New York Office, Park Avenue, New YorkNew YorkNew York is a state in the Northeastern region of the United States. It is the nation's third most populous state. New York is bordered by New Jersey and Pennsylvania to the south, and by Connecticut, Massachusetts and Vermont to the east...
, NY - United KingdomUnited KingdomThe United Kingdom of Great Britain and Northern IrelandIn the United Kingdom and Dependencies, other languages have been officially recognised as legitimate autochthonous languages under the European Charter for Regional or Minority Languages...
- Windsor, Berkshire; London Office, Old Bailey, LondonLondonLondon is the capital city of :England and the :United Kingdom, the largest metropolitan area in the United Kingdom, and the largest urban zone in the European Union by most measures. Located on the River Thames, London has been a major settlement for two millennia, its history going back to its... - IndiaIndiaIndia , officially the Republic of India , is a country in South Asia. It is the seventh-largest country by geographical area, the second-most populous country with over 1.2 billion people, and the most populous democracy in the world...
- ChennaiChennaiChennai , formerly known as Madras or Madarasapatinam , is the capital city of the Indian state of Tamil Nadu, located on the Coromandel Coast off the Bay of Bengal. Chennai is the fourth most populous metropolitan area and the sixth most populous city in India...
Office -1: Thiru-Vi-Ka Industrial Estate; Chennai Office -2: Phase-C, DLF IT PARK ; Hyderabad Office-1: My Home Tycoon Building, Begumpet, Kundanbagh; Hyderabad Office - 2: White House,Begumpet; Hyderabad Office - 3: Cyber Gateway, Hitec City, Madhapur; Hyderabad Office - 4: Sy No.115, Nanakramguda Village, Serilingampally Mandal, Ranga Reddy District; Hyderabad Training Centre: Brij Tarang, Begumpet - Sri LankaSri LankaSri Lanka, officially the Democratic Socialist Republic of Sri Lanka is a country off the southern coast of the Indian subcontinent. Known until 1972 as Ceylon , Sri Lanka is an island surrounded by the Indian Ocean, the Gulf of Mannar and the Palk Strait, and lies in the vicinity of India and the...
- Office - 1 (City): Cinnamon Lakeside Hotel Commercial Complex, ColomboColomboColombo is the largest city of Sri Lanka. It is located on the west coast of the island and adjacent to Sri Jayawardenapura Kotte, the capital of Sri Lanka. Colombo is often referred to as the capital of the country, since Sri Jayawardenapura Kotte is a satellite city of Colombo...
02; Office - 2 (World): 752 Dr Danister De Silva Mawatha, Colombo 09 (Dematagoda) - The Netherlands - Amsterdam WTC, H-Tower, Zuidplein 36, 1077 XV AmsterdamAmsterdamAmsterdam is the largest city and the capital of the Netherlands. The current position of Amsterdam as capital city of the Kingdom of the Netherlands is governed by the constitution of August 24, 1815 and its successors. Amsterdam has a population of 783,364 within city limits, an urban population...