Proven VBAM Framework Takes the Gamble Out of BPM Success
WESTBOROUGH, Mass. – (September 15, 2009) – Virtusa Corporation (NASDAQ: VRTU), a global IT services company that offers a broad spectrum of business consulting and outsourcing services, today formally introduced its Virtusa BPM Acceleration Methodology (VBAM), a proven framework that combines Agile best practices, business process management (BPM) platform-specific capabilities and Virtusa’s optimized global delivery methodology. With VBAM, companies can approach BPM with greater confidence in success and realize a higher return on investment (ROI).
Today, more Fortune 500 companies are turning to BPM to reduce time-to-market, increase operational efficiency and streamline IT initiatives. At the same time, analysts predict that more than 50 percent of BPM programs will fail by 2011 due to lack of BPM discipline (Gartner, Inc., “Predicts 2009: Use BPM to Confront Business Challenges and Complex Business Relationships”, November 2008, Elise Olding). Through its global engagements, Virtusa has found that in dynamic business environments, reliance on heavy-up-front modeling techniques to drive BPM initiatives increases the risk of failure, and ROI for BPM technology has been elusive when implementations are not managed properly.
“Ambiguous requirements and open-ended scope, lack of stakeholder involvement and lengthy development cycles all introduce risk into BPM initiatives,” said Doug Mow, senior vice president of marketing at Virtusa. “Gartner says 50 percent of BPM programs will fail and that can be a costly coin flip. We help customers land on the right side of the coin by eliminating the non-technical factors that often result in a sub optimal outcome. As a company that is focused on delivering business results, we offer an iterative, Agile approach that increases the probability of a successful BPM implementation and realizes value much earlier in the project.”
The Virtusa BPM Acceleration Methodology includes the following key features:
Using VBAM, many companies achieve dramatic business results, including up to a 50 percent reduction in time-to-market, more than 40 percent improved accuracy of the resulting system, improved design quality through focus on high-value features and reduced financial risk by delivering working solutions early and often. Virtusa is able to deliver these impressive results by employing a step-by-step BPM implementation approach which begins with a Suitability Assessment and Planning phase, followed by an Accelerated Solution and Design Workshop and uses an Agile Execution Framework to implement the solution through our optimized global delivery model.
“Recently, we engaged stakeholders of a major U.S. bank with 60,000 customers in an accelerated workshop to build a customer self-service channel with advanced reporting capabilities,” said Vinay Mummigatti, vice president and BPM Practice leader at Virtusa. “Using the VBAM methodology, the initial solution was delivered in just 90 days, and the new channel, based on an enterprise BPM platform, lowered the cost of operations by 20 percent. The customer self-service channel absorbed more than 90 percent of routine customer requests and the solution’s re-engineered processes and automation enabled the client to achieve immediate cost savings of 20 percent.”
About Virtusa Corporation’s BPM Practice
Virtusa is a leading global IT services firm in the BPM sector with a long history of successfully helping clients transform their new and legacy, manual and semi-automated business processes into change-ready, automated processes, and in building and delivering leading BPM software products. Virtusa’s unique “platforming” approach consolidates, rationalizes and modernizes core systems resulting in an efficient, lean IT environment. The Virtusa BPM team has more than eight years of BPM project experience, having successfully executed over 65 professional services engagements worldwide. The Practice is supported by over 500 BPM consultants, of who 95% are Certified BPM Consultants. The Practice has strong partnerships with multiple BPM leaders including Pegasystems, Savvion, Cordys, Tibco and IBM.
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.