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Press Release

May 5, 2016

Virtusa Recognized as an Outsourcing Leader by the International Association of Outsourcing Professionals (IAOP)

WESTBOROUGH, Mass., – (May 5, 2016) Virtusa Corporation (NASDAQ GS: VRTU), a global business consulting and IT outsourcing company that combines innovation, technology leadership and industry solutions to transform the customer experience, today announced the International Association of Outsourcing Professionals® (IAOP®) has recognized the company as an Outsourcing Leader in the Leader Judging Size category of the annual Global Outsourcing 100 list.

Reinforcing its market-leading position as a preferred IT outsourcing supplier to global clients, Virtusa has received Outsourcing Leader distinctions from IAOP as being a top company for customer references, awards & certifications, programs for innovation, programs for corporate social responsibility, and revenue growth as a leader.

“We are honored to be recognized as an Outsourcing Leader by IAOP,” said Kris Canekeratne, chairman and chief executive officer of Virtusa Corporation. “Our heritage of working at the nexus of our clients and their end customers across large business-to-consumer industries, combined with the ongoing investments we’ve made to strengthen our digital capabilities, has led Virtusa to be regarded as a trusted partner who provides thought leadership and best-in-class execution on large digital programs. We remain committed to fully meeting the technology needs of our clients while striving for continued innovation excellence.”

“Companies that outsource, not only in the traditional sense, but also through the wide array of the ever-changing collaborative business models, are scrutinizing their providers very closely,” said Debi Hamill, chief executive officer of IAOP. “We’re proud to recognize Virtusa for being among the highest rated companies in customer references, company awards and certifications, programs for innovation, corporate social responsibility and revenue growth as a leader.”

Virtusa’s unique outsourcing model, designed to meet the emerging needs of businesses, emphasizes business transformation that delivers far greater efficiencies and goes well beyond basic labor arbitrage. As part of this transformational outsourcing model, Virtusa deploys its unique Preempt, Accelerate and Compress framework. Virtusa’s Preempt-Accelerate-Compress framework leverages a Cognitive tool kit for self-healing (Preempt), Robotics Process Automation (RPA) to automate repetitive tasks (Accelerate), and Gamification to improve workforce productivity (Compress) to drive significantly improved outcomes compared to traditional outsourcing models.

Virtusa is a leading global outsourcing service provider, having received several recognitions including being named a Star Performer in Large Insurance Application Outsourcing Relationships by Everest Group, a Top 10 Sourcing Service Provider by ISG, to Gartner Magic Quadrant for IT Services for Communications Service Providers, Worldwide along with a leader in the IAOP’s 2015 Global Outsourcing 100 List.

On March 3, 2016, Virtusa Corporation acquired a majority interest in Polaris Consulting & Services Limited. VirtusaPolaris, our new market-facing brand, represents the combined strengths of Virtusa and Polaris, including our strong software engineering heritage, deep domain expertise and focus on applying innovation to solving critical core business issues for clients.

Each year, the IAOP Global Outsourcing 100 and its sub-lists, managed by IAOP and published annually by Fortune Custom Projects, recognize the world's best outsourcing service providers. The lists are based on scores given by an independent judging panel on a range of criteria including global presence, growth, company recognition and certifications, customer references, programs for innovation and corporate social responsibility. The lists are essential references for companies seeking new and expanded relationships with the best companies in the industry.

The full 2016 Global Outsourcing 100 list and its sub-lists can be accessed on IAOP’s website, at www.IAOP.org as of June 6.

About IAOP
IAOP is the go-to association leading the way to improve outsourcing outcomes by bringing together customers, providers and advisors in a collaborative, knowledge-based environment that promotes professional development, recognition, certification and excellence. With over 120,000 members and affiliates worldwide, IAOP is not only on top of the latest trends but in front of them. Through its expansive global chapter network, premier training and certification programs, knowledge center, member community and more, IAOP helps members learn, grow and succeed. For more information and how you can become involved, visit www.IAOP.org.

 

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

Contact:
Ron Favali
Conversion Marketing
ron@conversionam.com
727-512-4490



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