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Press Release

September 26, 2007

Virtusa Ranked #1 IT Systems Outsourcing Vendor in Wealth Management Industry by the 2007 Black Book of Outsourcing

Company to Address Emerging IT Trends in Wealth Management at Industry Summit

Westborough, MA – September 26, 2007 – Virtusa Corporation (NASDAQ: VRTU), a global IT services company that provides IT consulting, technology implementation and application outsourcing services, has been named the top IT Systems Outsourcing Vendor in the Brown-Wilson Group's annual “Black Book” survey of Top Outsourcing Vendors in the Wealth Management Industry.

The Wealth Management IT Systems Outsourcing rankings are based upon eighteen criteria of operational excellence, including technology innovation, client relationships and trust, breadth of offering and customization.

“Outsourcing is becoming more popular as wealth management industry executives become more comfortable with the robustness of the outsourcers’ systems and capabilities, especially in times of regulatory change,” noted Doug Brown, co-author of “The Black Book of Outsourcing” and a principal of Brown-Wilson Group. “Virtusa is at the top of a very exclusive group of high-quality IT systems outsourcers in this evolving, fast-growing industry.”

“We are extremely pleased to be recognized by Brown-Wilson Group in The Black Book of Outsourcing for our innovative work in the wealth management arena,” said Kris Canekeratne, Virtusa Chairman and CEO. “For financial institutions that offer wealth management services, the focus must be on how IT can deliver more agile solutions to increase operational efficiency and improve customer experience. Virtusa’s software platforming approach has enabled our wealth management clients to enhance their customer-facing applications–opening accounts faster, offering new products and services seamlessly, and providing superior customer service to their high-net worth clientele.”

Black Book’s Top Outsourcing Vendor Rankings in the Wealth Management Industry Report will be released at tomorrow’s FS Outsourcing Wealth Management Industry Summit in New York, where Virtusa executives will present on “Emerging Trends in Building Agile IT Solutions in Wealth Management.”
 
 
About the Black Book Top Outsourcing Vendors & Top Advisors Rankings
 
The Black Book initiative sponsors the only annual, independent, non-biased ranking of 300 outsourcing advisors and 4,500 vendors as completely scored from over 20,000 outsourcing users' and clients' ballots. The Top 50 Best Managed Global Outsourcing Vendors ranking is based on twenty-six measures of leadership excellence, including client satisfaction with senior management direction, leadership impact on outsourcing results, business transformation practices, client relations management, and indicators of C-level officer commitment. Sublists in twelve categories of outsourcing cover over 500 outsourcing functions, in 40 industries, from multiple organization sizes and locations. Sublists are rankings based on eighteen criteria of operational excellence and client satisfaction with outcomes. Surveys are conducted each year, currently in the fourth update, beginning in March with results announced in June.
 

 

About Virtusa

Virtusa Corporation is a global provider of digital business strategy, digital engineering, and information technology (IT) services and solutions that help clients change, disrupt, and unlock new value through innovative engineering. Virtusa serves Global 2000 companies in 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 the business forward at unparalleled velocity enabled by a culture of cooperative disruption.

Virtusa is a registered trademark of Virtusa Corporation.  All other company and brand names may be trademarks or service marks of their respective holders.

 

Media Contact:

Alex Nickols
Edelman
+1 (415) 430-8056
Alex.Nickols@edelman.com

Media Contact:
Brian Ruby/Susan Hartzell
ICR
brian.ruby@icrinc.com, 203-682-8268
susan.hartzell@icrinc.com, 203-682-8238

 

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