Virtusa becomes the fourth company in the world to be awarded the BSA Verafirm Certification based on ISO SAM standards

New Delhi, India - July 24, 2014 - BSA | The Software Alliance today announced that it has awarded the Software Asset Management (SAM) based Verafirm certification to Virtusa Corporation (NASDAQ: VRTU), a global information technology (IT) services company providing IT consulting, technology and outsourcing services. This certification recognizes best practices implemented by Virtusa Corporation in SAM through the entire software life cycle from procurement, inventory management, deployment, license compliance to usage monitoring.

Verafirm certification is the first and only industry certification based on ISO SAM standards, enables companies to be IT compliant.

“Today, organizations are recognizing software as a strategic asset, making Software Asset Management a critical business tool,” said Vipin Aggarwal, India Chair, BSA | The Software Alliance. “We congratulate Virtusa on achieving this certification, which recognizes it as a highly ethical company with strong corporate governance. Globally, India is already at the forefront of implementing SAM and we look forward to continued success with increasing adoption among private as well as government organizations.”

Kris Canekeratne, Chairman and CEO of Virtusa said, ““We are delighted to be the fourth company in the world to be awarded the BSA Verafirm Certification. It reaffirms our commitment to the governance and protection of the intellectual property rights of software publishers, our partners and our customers, and lead the industry in ethical business practices and corporate governance.”

Companies are increasingly feeling the pressure from software publishers, accounting laws, government mandates and their own customers to demonstrate the use of legal software. This is further escalated by complex licensing rules and models. Recognizing the need to provide an acceptable, common framework, the BSA has developed Verafirm Certified which is an enterprise-level certification based on ISO SAM standards, in collaboration with leading independent auditors.

Madu Ratnayake, Senior Vice President & Head of Digital at Virtusa said, “Verafirm certification enabled us to validate our software governance approach. We have systematically enhanced our intellectual property and software governance process with automation for optimization and sustainability. We are delighted to be recognized with BSA Verafirm Certification for our intellectual property management efforts. ”

Verafirm is a simple, convenient, and effective free online tool that lays the foundation for an organization to manage its software assets, stay compliant and connect with customers interested in doing business with ethical companies. It provides a platform for companies to mitigate potential business liabilities, ensure documents are accounted for in case of audits, reduce costs, improve business efficiency and protect their companies from the security risks associated with outdated or pirated software.

In addition to the certification, Verafirm offers a suite of products to help organizations of all sizes and in all industries understand, manage, and certify their software asset management programs. Other products include, Verafirm Registered, Verafirm Verified, Verafirm Supply Chain and Verafirm Professional.

In India, Verafirm Certified has been tested through pilot programs that were conducted with Symphony Services in 2011 and Delhi International Airports Limited (DIAL) in 2012. In 2013, KPIT became the first publicly listed company to receive the prestigious Verafirm Certified from BSA.

About BSA: BSA | The Software Alliance is a nonprofit trade association created to advance the goals of the software industry and its hardware partners. It is an association of world-class companies that invest billions of dollars annually to create software solutions that spark the economy and improve modern life. BSA has advised the government and Parliament on key policy issues for the software and IT industry and collaborated with central and state governments including apex industry bodies on programs to promote legal software use and best practices in managing software assets more productively.

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