Sri Lanka’s Virtusa launches new global brand reflecting future-focused outlook and innovate digital transformation
The US Nasdaq-listed Virtusa has launched its new global brand, while setting out on its journey to reach US$ 5 billion in revenue, the Daily FT has reported.
The report states that Virtusa, which is a global provider of digital strategy, engineering and IT solutions services with roots in Sri Lanka, has unveiled its new brand, which it has stated reflected its future-focused outlook, combining business expertise, agile engineering mastery and a unique approach to innovate digital transformation.
“It is a very bold point of view on something that is so unique for engineering — if you really look closely at it, it’s a spark. It is a spark of innovation and imagination,” Virtusa Chairman and CEO Kris Canekeratne has reportedly said via an audio visual message in Colombo.
Accordingly, he has said anyone could spot the ‘spark’ between the “i” and “r” in the brand name. The new Virtusa ‘spark’ represents the potential, discovery, innovation and breakthroughs that are fuelled by collaboration among talented engineers.
“Spark is what really makes Virtusa unique today,” Canekeratne has noted.
He has said Virtusa achieved unparalleled digital engineering velocity through agile teams empowered by smart tools, accelerators, gamification and the motivation to win.
“We deliver measurably better digital engineering through a culture of cooperative disruption and high performance engineering meritocracy that rewards innovation,” Canekeratne has added.
Executive Vice President, Chief Information Officer and General Manager Madu Ratnayake has been quoted as saying that businesses today required transformational change at a scale and speed that defied traditional ways.
“The new brand really epitomises the value while bringing that spark of innovation and driving the re-imagination. Most companies are going into a complete re-imagination of how they do business driven by the 4.0 Industrial Revolution. Over the years, Virtusa has built competence and capabilities to harness and support that wave of change,” he has noted.
Giving a snapshot of where Virtusa stands today and how it takes on the market and support its clients, Ratnayake has said the company was setting out on a journey to reach US$ 5 billion from US$1 billion.
“Today we are valued at a little over US$ 1 billion in market capitalisation with revenue of over US$1.02 billion. We are very proud of the fact that we have been growing at 22% CAGR over the past 10 years. It is a tremendous achievement and showcases our resonance with partners and our ability to deliver services to our clients in a consistent and profound way. We are very proud of that journey,” Ratnayake has added.
Armed with 21,145 domain experts across industries in more than 50 offices in 22 countries including North America, Europe and Asia, Virtusa has a proven track record in delivering digital transformation for clients.
While Banking and Financial Services remains the largest industry, it also serves Insurance, Healthcare and Life Sciences, Telecom, Media, Information and Entertainment and Diversified sectors. Digital Business Strategy, Business Consulting, BPM, Digital, Cloud and Infrastructure, AI, Outsourcing and Testing, ERP and CRM are the areas in which it provides services, the Daily FT report states.
Ratnayake has further noted that many digital engineering deliveries for Fortune 1000 global companies were completed at the Virtusa Colombo facility alongside the innovation lab for xLabs, which is also located in Colombo.
OSL take:
Sri Lanka’s ICT and digital infrastructure sectors have been priority in the country’s development agenda. Also, the prominence given to ICT in Sri Lanka’s education and higher education sectors have ensured a high level of computer literacy in the country. The positive economic policies, the ease of doing business environment in the country as well as its geographical positioning in the Indian Ocean region and trade relations with other countries have made Sri Lanka the ideal business destination in the South Asian region. Foreign businesses/investors could explore business/investment opportunities in Sri Lanka’s ICT and digital infrastructure sectors.
| Article Code : | VBS/AT/30082019/Z_1 |