Southborough, MA, USA (October 18, 2018) Virtusa Corporation (NASDAQ GS:VRTU), a global provider of digital strategy, digital engineering, and IT outsourcing services that accelerates business outcomes for its clients, today announced that it has been positioned as a Visionary in Gartner, Inc.'s 2018 Magic Quadrant for IT Services for Communications Service Providers, Worldwide. Virtusa was evaluated among 12 total vendors and recognized as a Visionary for the second consecutive year.
According to Gartner, Based on CSP feedback in this Magic Quadrant and the previous interaction, as well as our continuous industry discussions, it is clear that: Excellence of the actual service offering is more important than customer feedback for CSP vendor evaluation; the CSP main focus has already shifted to digital services; CSPs are looking for advice and best practices beyond traditional telecom boundaries; and understanding of new digital value measurements is in its infancy in the industry both on the customer and the supplier side.
Gartner evaluated vendors based on completeness of vision and ability to execute. The criteria for completeness of vision included market understanding, marketing strategy, sales strategy, offering (product) strategy, business model, vertical/industry strategy, innovation and geographic strategy. For ability to execute, the criteria included the product or service, its overall viability, sales execution/pricing, market responsiveness/record, marketing execution, customer experience, and operations.
We are delighted to be recognized as a Visionary in the Magic Quadrant for the second year in a row, said Srinivasan Jayaraman, SBU Head, Communications, Media, Information, and Entertainment, Virtusa. For CSPs to effectively tap the emerging opportunities from convergence, they need to transform themselves into a high-tech provider for their customers. Our recent study shows that the Telco industry across the U.S. and EMEA lags behind other industries in digital transformation, particularly in the areas of customer experience and business agility. Virtusa's unique digital transformation maturity model has been helping CSPs address some of these crucial elements of their transformational journey by streamlining their customer experience delivery, enabling them to accelerate their innovation velocity to tap newer, addressable markets and leverage automation to drive efficiencies in their operations.
Virtusa brings over 15 years of experience serving wireline and wireless service providers in digital and network transformations across geographies. Currently serving seven of the Top 15 CSPs, Virtusa brings differentiated value to its clients through its laser focus on developing solution accelerators for digital and network intelligence and also by helping drive tech innovation by cross-leveraging the innovation and application of emerging technologies from other industries for use in the Telecom market.
As frontrunners in blockchain, we're delivering solutions that lean out our telco clients advertising, contract management, settlement, and asset management functions. We're also using AI to target 95% accuracy in predicting Main Fault in service assurance, said Ravi Kumar Palepu, vice president and global head of Telco Solutions, Virtusa. We have made numerous strategic investments in these and other emerging technologies to improve return on investment and time to market for our clients.
To download a complimentary copy of the Gartner Magic Quadrant for IT Services for Communications Service Providers, Worldwide, visit: https://ww2.virtusa.com/gartnermqcsp2018
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