Virtusa’s BPM program helps the bank in operational transformation
DUBAI & WESTBOROUGH, Mass.--(BUSINESS WIRE)--Aug. 2, 2017--
Virtusa Corporation (NASDAQ GS: VRTU), a global business consulting and
IT outsourcing company that accelerates business outcomes for its
clients, today announced that Mashreq Bank, UAE’s leading financial
institution, has been recognized by the Workflow Management Coalition
(WfMC) and BPM.com for excellence in business process management (BPM)
and Workflow. Mashreq is among the top 12 businesses globally which
utilize BPM and workflow technology to accelerate business outcomes.
“We are delighted to receive the WfMC award in recognition of
Mashreq’s Business Operations transformation program by adoption of
BPM,” said Nitin Bhargava, CTO, Mashreq. “Our strategic investment in
this transformation program, coupled with our collaborative partnership
with Virtusa, has enabled us to empower our employees to deliver service
excellence to our customers. Through the digital BPM solution, which is
powered by process automation, we have been able to achieve reduction in
error rates, significantly bring down cost of delivery and improve
productivity. Looking back at this year-long complex transformational
journey, we are thrilled to observe the benefits, most importantly to
see how delighted our customers and employees are with the change.”
Leveraging BPM automation, Mashreq Bank enabled its employees to better
serve clients by providing a unified front end that creates transparency
of back-end operations and integrated systems. The automated sales and
process routing features combined with optimized operations have reduced
the customer service turnaround time by 64 percent. The 360° enterprise
visibility with reporting dashboards facilitates TAT reporting.
“We are excited to see our partnership with Mashreq Bank translating
into a phenomenal success story that is now also recognized by the
industry in the form of this coveted award,” said Sanjay Despande, SBU
head, Banking and Financial Services, Virtusa. “We are thankful to the
leadership team of Mashreq Bank for sharing their vision and giving us
the opportunity to transform their process management while driving
process accuracy, productivity gains and enhanced client services.
Virtusa will continue to support Mashreq Bank in their endeavors to
provide the most rewarding banking relationship to its esteemed clients.”
Virtusa has been helping global clients across multiple industries
leverage BPM for transforming their operations for increased
efficiencies and improved customer service. In addition to implementing
end-to-end BPM offerings, Virtusa is enabling its clients to leverage
modern technologies such as mobility and cloud analytics, along with
best-in-class digital and consulting skills, to
drive customer-centricity, productivity and enhanced business outcomes.
Virtusa was recently recognized as a leader among Business Process
Management (BPM) Service Providers by analyst firm Forrester Research in The
Forrester Wave™: BPM Service Providers, Q4 2016.
“We are proud to be recognized for our leadership in implementing a
transformational BPM automation program,” said Rajesh Kumar Bhaskaran,
Head Intelligent Process Automation at Mashreq. “We are continuously
looking for new ways to streamline our business operations and provide
our customers with even better service. Working with Virtusa has helped
us to leverage its technology and IT consulting expertise to drive value
and achieve a competitive advantage with BPM.”
The WfMC Global Awards for Excellence in BPM & Workflow recognize user
organizations that have demonstrably excelled in implementing innovative
business process solutions to meet strategic business objectives.
Workflow Management Coalition (WfMC) and BPM.com jointly sponsor the
annual Global Awards for Excellence in BPM and Workflow. The Awards
program is managed by Future Strategies Inc.
For more information on the 2016 Global Awards for Excellence in BPM and
Workflow, please visit http://bpmf.org/.
More information on Mashreq Bank can be found at http://www.mashreqbank.com/uae/en/personal/index.aspx#/personal.
To learn more about Virtusa' business process management services,
please visit http://www.virtusa.com/services/bpm/perspective/.
About Mashreq Bank
Established in 1967, Mashreq is the oldest Bank in the UAE with award
winning financial solutions and services. Throughout
its 50 years' history, Mashreq has differentiated itself
through innovative financial solutions, making it possible
for its customers to achieve their aspirations. Today, Mashreq has a
significant presence in 11 countries outside the UAE with 21 overseas
branches and offices across Europe, USA, Asia and Africa.
Mashreq launched earlier this year its new Vision and Mission, outlining
its commitment towards its clients, colleagues and the community. In
line with its new Vision to be the region's most progressive bank,
Mashreq leverages its leadership position in the banking industry
to enable innovative possibilities and solutions for its customers
across Corporate, Retail, International, Treasury and Islamic
Banking. Mashreq is proud to be the first financial institution in the
UAE to be awarded the Gallup Great Workplace Award for three consecutive
years from 2014-2016. Mashreq also continues to invest in recruiting,
training and developing future generations of UAE National bankers.
About Virtusa
Virtusa Corporation (NASDAQ GS: VRTU) is a
global provider of information technology (IT) consulting and
outsourcing services that accelerate business outcomes for Global 2000
companies and leading software vendors in banking and financial
services, insurance, healthcare, telecommunications, technology, and
media & entertainment.
Virtusa helps CXOs' address the dual challenge of growing revenues while
improving IT cost efficiencies. Virtusa's digital transformation &
innovation (DTi) solutions enable clients to reimagine the customer
experience, accelerate revenue growth and create lasting business value.
The company’s operational excellence (OE) solutions help clients reduce
risk, improve operational efficiencies, and lower IT costs.
Virtusa delivers services across the IT lifecycle, including consulting,
solution design, technology selection, implementation, testing, and
maintenance, including infrastructure support. With a strong heritage in
software engineering, Virtusa is highly qualified to both develop and
maintain software, using a proven platforming methodology and advanced
Agile and Accelerated Solution Design techniques to reliably deliver
results on time and within budget.
Holding a proven record of success across industries, Virtusa readily
understands its clients' business challenges and uses its domain
expertise to deliver distinctive, differentiated and innovative
applications of technology to address its client critical business
challenges. Examples include building the world's largest P&C claims
modernization program; one of the largest corporate customer portals for
a premier global bank; an order to cash implementation for a
multinational telecommunications provider; and digital transformation
initiatives for media and banking companies.
Through the acquisition of a majority interest in Polaris Consulting
Services Ltd. in March 2016, Virtusa has created a robust platform to
provide end-to-end solutions and services in banking and financial
services, strengthening its positioning as a top, global FinTech
services provider. Virtusa Corporation is headquartered in Massachusetts
and has 50 offices across North America, Europe and Asia.
Polaris Consulting & Services is a subsidiary of Virtusa Corporation.
Copyright © 2017 Virtusa
Corporation. All Rights Reserved.
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Source: Virtusa Corporation
Greenough
Amy Legere, 617-275-6517
alegere@greenough.biz