Verizon Business and Virtusa Develop Innovative Approach to IT Asset Management

BASKING RIDGE, N.J. - Verizon Business and Virtusa Corp. have teamed up to develop an innovative approach to the management of information technology (IT) assets.

Verizon Business has developed specialized software that dramatically enhances the company's ability to manage its portfolio of IT assets in line with corporate objectives. This new software is supported by a unique scoring and analysis model developed with Virtusa.  The resulting approach gives Verizon Business the ability to assess the business value of IT applications within the company's broad portfolio.  

With improved management of Verizon Business's IT portfolio, which grew in part from numerous acquisitions and mergers, the company is able to more efficiently grow services as well as improve the customer experience.

"You can't manage what you can't measure," said Judy Spitz, senior vice president and chief information office for Verizon Business. "By continually capturing more than 100 data-points for each asset, we are able to monitor and analyze the business value and IT efficiency dimensions across our entire application portfolio. This new level of visibility strengthens our roadmap planning for optimal investment in our strategic systems."

The model measures IT applications in terms of their efficiency, effectiveness and revenue impact. The application scoring model supports the company's efforts to improve its use of IT applications, hardware and software resources.

"This innovative approach will provide Verizon Business with an edge in the marketplace by enabling a much higher level of informed decision-making," said Dan Kielar, senior vice president for Virtusa. "This program can enable IT organizations to intelligently rationalize and evolve their IT assets into agile platforms that result in faster time-to-market, greater efficiency and better customer service. We are pleased that our approach aligned so well with Verizon Business' objectives."

[Note: On Tues., July 17, at 11 a.m. ET, Verizon Business and Virtusa Corporation will host a webinar to discuss the portfolio scoring and analysis model and software project. Alan Mott, director of systems planning and enterprise architecture for Verizon Business, and George Berelson, director of business consulting for Virtusa Corporation, will be joined by Forrester Research Senior Analyst Michele Pelino. Registration for the webinar is available at http://www.tmforum.org/UpcomingWebinars/

About Verizon Business
Verizon Business, a unit of Verizon Communications (NYSE: VZ), operates the world's most connected public IP network and uses its industry-leading global-network capabilities to offer large-business and government customers an unmatched combination of security, reliability and speed.  The company integrates advanced IP communications and information technology (IT) products and services to deliver leading enterprise solutions including managed services, security, mobility, collaboration and professional services.  These solutions power innovation and enable the company's customers to do business better. For more information, visit www.verizonbusiness.com.

About Virtusa Corporation
Virtusa (NASDAQ: VRTU)  is a global information technology (IT) services company providing IT consulting, technology implementation and application outsourcing services.  Using its enhanced global delivery model, innovative platforming approach and industry expertise, Virtusa provides cost-effective services that enable its clients to use IT to enhance business performance, accelerate time-to-market, increase productivity and improve customer service.  Founded in 1996 and headquartered in Massachusetts, Virtusa has offices in the United States and the United Kingdom, and global delivery centers in India and Sri Lanka.  "Virtusa" is a registered trademark of Virtusa Corporation.