Virtusa Corporation (NASDAQ GS: VRTU), a global business consulting and IT outsourcing company that combines innovation, technology leadership, and industry solutions, today announced that it has partnered with MetricStream, the market leader in Governance, Risk and Compliance (GRC) Management Apps, to deliver GRC Solutions across multiple verticals such as Financial Services, Insurance, Healthcare, Telecom, Media, Retail, Manufacturing and Energy.
Under the global partnership agreement, Virtusa and MetricStream will support each other’s prospects and customers with a combination of MetricStream’s market-leading GRC product portfolio, and specialist consulting and GRC implementation services from Virtusa designed to assist organisations in navigating an increasingly complex regulatory environment. Virtusa will establish a dedicated MetricStream Center of Excellence (CoE), which will be supported by expert consulting services worldwide.
“As the market leader in Governance, Risk, and Compliance (GRC) Applications and Solutions, we rely on our robust and global partner ecosystem to support our customers and derive maximum value from their GRC investments,” said Rohit Bedi, senior vice president and head of Partnerships at MetricStream. “With deep domain expertise in risk and compliance, Virtusa is a critical fulfilment partner that can support the entire GRC process of a customer including consulting, implementation and support. We are confident Virtusa will play a key role in building successful outcomes for our mutual clients and accelerate the growth of our joint customer base.”
Virtusa brings significant expertise in developing and supporting compliance management solutions, as well as creating and managing “accelerator” systems tailored to clients’ industry-specific challenges. Combined with its GRC consultancy services, Virtusa offers MetricStream’s customers a “one-stop-shop” for their risk and compliance management needs. Virtusa’s industry solutions help its clients derive maximum value from IT investments, by leveraging a differentiated consulting-led, framework-based and process-driven approach across the industry value chain.
“Specific industry mandates and compliance requirements need tailored solutions and expertise alongside evolving and increasingly stringent regulations that impact all businesses,” Bedi added. “Virtusa provides quicker time to value to client by offering industry-specific knowledge and expertise.”
“Increasing regulatory requirements in financial services, along with operational risk and vendor management oversight, continue to demand significant spend and resource allocation across enterprises. Combining our GRC practice and execution capabilities with MetricStream’s industry leading GRC Apps and Solutions will allow us to provide clients with scalable solutions that simplify complexities and reduce the cost of meeting their risk and compliance requirements,” added Bob Graham, senior vice president – Banking and Financial Services (Strategic Business Development) at Virtusa. “We look to partner with organisations that provide a complementary fit to our capabilities, and we feel the partnership with MetricStream will help us to deliver even more value to our customers, while also allowing us to jointly break new ground. We’re excited to be working together.”
Virtusa’s GRC Group provides end-to-end consulting, technology and transformation services to help enterprises worldwide improve the efficiency and effectiveness of meeting the challenges of governance, risk and compliance.