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VirtusaPolaris and WorkFusion to Deliver Robotic Automation and AI-powered Cognitive Automation to the Financial Services Sector | Business Wire
WESTBOROUGH, Mass.–(BUSINESS WIRE)–VirtusaPolaris, the market-facing brand of Virtusa Corporation and
Polaris Consulting & Services, Ltd. and a leading worldwide provider of
information technology (IT) consulting and outsourcing services, and WorkFusion,
the leading smart process automation (SPA) provider, today announced a
partnership to deliver new smart automation solutions for the banking
and financial services (BFS) market. The combination of VirtusaPolaris’
deep BFS industry and process expertise and WorkFusion’s cutting edge
platform will help clients reduce operational costs, while improving
quality, productivity and agility.
“Most financial services organizations continue to struggle with
inefficient legacy systems that have not kept pace with the change in
business and regulations, introducing gaps in process automation that
negatively impact efficiency of business operations. Many of these gaps
are low complexity high volume routine process steps and most
organizations have deployed large operational workforces, frequently
offshore, to handle these processes,” said Bob Graham, global solutions
head, Banking and Financial Services at VirtusaPolaris. “WorkFusion’s
combination of robotic and cognitive automation supported by
VirtusaPolaris’ expert consulting and implementation services allow
customers to improve quality through greater accuracy and the removal of
human error, reduce costs through rapid automation of manual tasks, and
accelerate time to market with our proven delivery approach.”
At the core of WorkFusion’s SPA software are three powerful
capabilities: workforce orchestration, robotic process automation (RPA)
and cognitive automation which, together, help organizations improve
workforce agility and elasticity and automate manual processes through
rapidly evolving AI. Robotics eliminate the manual work of operating
desktop applications and manipulating structured data, and cognitive
automation learns unstructured data tasks through human actions. As
WorkFusion automates more repetitive work, staff are elevated to
exceptions handling and higher value tasks. Clients are able to achieve
50 to 80 percent ROI within the first year.
VirtusaPolaris supports WorkFusion deployments globally through its
Automation Center of Excellence through which it provides domain
specific WorkFusion accelerators to help deliver even faster time to
market and value to clients.
“We are excited to be working with VirtusaPolaris and to bring our
combined capability to market,” Alex Lyashok, WorkFusion COO said.
“Shared services, back- and middle-office operations teams are realizing
the combined value of robotic and cognitive automation. They use our
software to improve the efficiency of processes that range from accounts
payable and invoice processing to know your customer (KYC) and claims
processing. Our partnership with VirtusaPolaris will provide clients an
even greater depth of expertise in processes coupled with the best
automation technology on the market.”
WorkFusion is the leading smart process
automation solution for enterprise operations. Global businesses in
data-intensive industries use WorkFusion to automate high-volume
business processes through a combination of workforce orchestration,
robotics, and machine learning powered cognitive automation. These
capabilities enable customers to improve customer service, increase
operational agility, and reduce costs. WorkFusion is headquartered in
New York City with offices in London and Eastern Europe. For more
information, please visit www.workfusion.com.
VirtusaPolaris, the market-facing brand
reflecting the combined strengths of Virtusa Corporation and Polaris
Consulting & Services, Ltd. 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, media and entertainment.
VirtusaPolaris’ solutions address the CXOs’ dual challenge of growing
revenues while improving IT cost efficiencies. VirtusaPolaris’ digital
services leverage innovative new technologies to reimagine the customer
experience, increasing retention and creating lasting value.
VirtusaPolaris’ preemptive outsourcing solutions help clients reduce
risk and improve IT operations.
VirtusaPolaris delivers services across the IT lifecycle, including
consulting, solution design, technology selection, implementation,
testing and maintenance & support, including infrastructure support.
Inheriting a strong heritage in software engineering, VirtusaPolaris is
highly qualified to both develop and maintain software, using a proven
platforming methodology and advanced Agile and Accelerated Solution
Design techniques to reliably produce results on time and within budget.
Holding a record of success across industries and unparalleled domain
expertise, VirtusaPolaris understands clients’ business challenges best
and uses that to deliver distinctive, differentiated and innovative
application of technology to solve those problems. Examples of large
business transformations completed include 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 transformations
for media and banking companies.
Virtusa Corporation is headquartered in Massachusetts, and together with
Polaris, has 50 offices across North America, Europe and Asia.
Polaris Consulting & Services is a subsidiary of Virtusa Corporation.
Copyright © 2016 Virtusa
Corporation. All Rights Reserved.