Madhavan Satagopan joins Virtusa as Executive VP for Non-Linear Business Strategies

Virtusa Corporation has announced the appointment of Madhavan Satagopan as Executive Vice-President for Non-Linear Business Strategies.

Kris Canekeratne, Chief Executive Officer, Virtusa Corporation, said, “We are delighted to welcome Madhavan to the team, where he will work with the best people in the industry and drive excellence with his leadership ability, passion, and focus. I am confident that Madhavan’s experience and capabilities will add strength to our business leadership as we look to continue our strong growth and cement our role as the go-to partner for digital engineering services.”

In this role, Madhavan will be responsible for driving changes in the company’s go-to-market approach towards non-linear business models, enhancing engagement in the partner and startup ecosystem, and improving the quantum and velocity of innovation for Virtusa and its clients…..Read More

 

 

Virtusa and ICFAI University join hands

Virtusa Corporation has reportedly signed a Memorandum of Understanding (MoU) with the ICFAI Foundation for Higher Education, to engage in talent development programmes aimed at creating a pool of highly skilled Business Process Management (BPM) professionals trained on Pegasystems’ technology platform.

As part of the programme, Virtusa will provide BPM training to the faculty of science and technology at ICFAI University, while also collaborating on developing industry-oriented courseware and technical knowledge to support the curriculum. A dedicated elective course has been designed to teach these skills to interested students. Extending this initiative into the employment space, students who successfully complete this course, will become eligible to apply to internship positions at Virtusa to hone their skills in a real-world, business environment.

“Our partnership with ICFAI to create a workforce of BPM professionals is very timely, given that Pegasystems recently named Virtusa a Platinum Partner. The fast-track career opportunities for this group of BPM professionals at Virtusa is further enhanced by our strong track record in helping clients transform their businesses, improve their consumer experience and launch millennial products and services,” said Keith Modder, Executive Vice-President & Chief Operating Officer, Virtusa Corporation.

The partnership focusses on bridging the gap between the specialized skills sought by the IT industry and the curriculum taught at academic institutions. Today, more Fortune 500 companies are turning to BPM to reduce time-to-market, optimize customer experiences, and streamline IT initiatives. There is an increasing need for talent to work on this niche and upcoming technology…….See More

Virtusa announces itself as Platinum Partner of Pegasystems

Virtusa Corporation has announced that it has been named as Platinum Partner of Pegasystems. Pegasystems chose Virtusa based on its success implementing large-scale, high-quality, complex BPM projects using Pegasystems’ BPM platform.

 

Frank Palermo, Senior Vice-President, Global Technical Solutions Group, Virtusa, said, “Pegasystems is an important partner for Virtusa, and reaching this pinnacle within its partner programme reflects much hard work and many successes. Our relationship with Pegasystems reaches from the field to the executive level, and this deep connection is the reason for our long and successful partnership. We are committed to the continued growth of Pegasystems and we are excited to be at the forefront of new, innovative technologies it brings to market.”

 

John Barone, Vice-President of Global Strategic Alliances, Pegasystems, said, “We are thrilled that Virtusa is now a Pegasystems Platinum Partner. Virtusa has been a partner of ours for more than ten years, and we have built up a strong relationship between our two organizations during that time. Our partners are an integral part of Pegasystems’ corporate strategy and we look forward to working even more closely with them on delivering successful projects to our joint customers.”

 

Virtusa has been named among eight Platinum partners of Pegasystems worldwide. As a Platinum Partner, Virtusa and its delivery teams will have new opportunities to collaborate with various Pegasystems business units to develop strategic solutions for vertical markets……See More

CRF Institute recognizes Virtusa

Virtusa Corporation has been certified by the Corporate Research Foundation (CRF) Institute for the second year in a row as one of Britain’s Top Employers for 2012. The company scored exceptionally well in the categories of Secondary Benefits & Working Conditions, Training and Development, and Career Development.

 

Kris Canekeratne, Chairman & CEO, Virtusa said, “It is an honor to be named as one of Britain’s Top Employers. We are committed to providing a work environment that is inspiring and conducive for innovation which provides a unique opportunity for continuous learning and career growth. This, combined with unrelenting focus on service excellence, allows Virtusa to consistently create and deliver solutions which enable our clients to accelerate their business outcomes and gain competitive advantage.”

 

Sundararajan Narayanan, Sr. Director, HR, US/Europe, Virtusa said, “We are delighted to receive this recognition. It validates our strong people practices which focus on creating an environment where our employees can realize their full potential. It also reinforces the fact that the right environment can be the catalyst for enhanced employee experience, leading to professional and personal success.”

Virtusa reports Q3 Fiscal 2012 Consolidated Financial results

Virtusa Corporation has reported consolidated financial results for the third quarter fiscal year 2012, ended December 31, 2011. Revenue for the third quarter of fiscal 2012 was $72.2 million, an increase of 3% sequentially and 30% year-over-year on both a reported and constant currency basis.

Virtusa has reported income from operations of $6.6 million for the third quarter of fiscal 2012, an increase compared to $5.5 million for the second quarter of fiscal 2012, and an increase compared to $5.0 million for the third quarter of fiscal 2011. Net income for the third quarter of fiscal 2012 was $5.6 million, or $0.22 per diluted share, an increase compared to $4.7 million, or $0.18 per diluted share, for the second quarter of fiscal 2012, and an increase compared to $4.2 million, or $0.17 per diluted share, for the third quarter of fiscal 2011.  Net income for the third quarter of fiscal 2012 included $0.2 million of foreign currency transaction gains.

The Company ended the third quarter of fiscal 2012 with $79.0 million of cash, cash equivalents, and short-term and long-term investments. Cash generated from operations was $8.5 million during the third quarter of fiscal 2012.

Kris Canekeratne, Chairman & CEO, Virtusa said, “Our third quarter results were solid, particularly in the face of continued volatility in the global economy.   We have reached a size and scale that, combined with our industry focus and best in class solution offerings, are enabling us to take on larger transformational programs.”

Ranjan Kalia, Chief Financial Officer said, “During the quarter, we were pleased with our ability to drive operating efficiencies and deliver double digit percentage earnings per share growth.” . Kalia added, “Our fourth quarter guidance reflects ongoing customer commitments which are driving our expected sequential growth.”

Virtusa among finalists in 2011 ACM Global Awards

Virtusa has been selected as a finalist for the 2011 Global Awards for Excellence in Adaptive Case Management.  Co-sponsored by the Workflow Management Coalition (WfMC) and KMWorld magazine, these awards recognize user organizations that have demonstrably excelled in implementing innovative adaptive case management (ACM) solutions.

“This was a complex initiative to provide a consistent standard of service globally for the bank’s Treasury clients.  The solution provides the bank with the ability to handle client inquiries and exceptions globally without regard to what currency or global region the payment is initiated from.  The solution provides global case management and tracking and has improved the customer experience, while also increasing productivity. Our client operates globally and has few thousand users across different geographies. We had to first determine what each location required and then we created one solid, centralized system that satisfied everyone’s needs in the same way. We built the new system, rolled it out region by region and are now maintaining and improving that system. We are very proud of our solution and it’s an honor to be recognized by 2011 ACM Global Awards,” Bob Graham, VP, Banking &Financial Services, Virtusa said.

Virtusa Offers Critical Tool to Assess ICD-10 Transition Costs

Virtusa Corporation has announced that it has designed a customized migration assessment tool to help healthcare organizations determine the potential financial impact of transitioning from ICD-9 to ICD-10.

The conversion, which is mandated to take effect by October 2013, will multiply the number of available diagnosis and procedure codes from the current 24,000 to more than 155,000. The end-result promises to positively transform the healthcare industry by ultimately reducing costs and improving the quality of patient care. Many healthcare organizations, however, are justifiably concerned about how the changeover will impact revenue cycles. Virtusa’s complimentary, cloud-based financial modelling solution offers a resource that provides peace of mind and insight by allowing organizations to test various pricing scenarios and gauge the economic impact on different areas of operation, including:

• Billing and Payment Schemes
• Provider Billing Practices
• Use of Mapping Tools
• Medical Policy Coding
• Coding Errors
• Fraud and Abuse Editing

“Virtusa’s Financial Modeller is absolutely the type of tool payers and providers need to achieve a competitive advantage as they move to ICD-10,” said James Swanson, Director, Healthcare Practice, Virtusa.  “Even though organizations have the new code set, many have yet to look at the possible disruptions to cash flow, such as delayed collections and lower reimbursement.  The Financial Modeller is a specialized tool that will allow healthcare organizations to identify gaps to the revenue and reimbursement cycle and determine what remediation is required to counteract the shortfalls and achieve a net zero impact.”

The ICD-10 migration also opens up numerous other business transformation opportunities for healthcare payer and provider organizations. The enhanced data capture and tracking capabilities allowed in ICD-10 can help healthcare organizations initiate enterprise-wide makeover projects to optimize their business operations systems and processes for increased efficiency and profitability.