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Virtusa Corporation (Westborough, Mass.), a global business consulting and IT outsourcing company, has partnered with MetricStream, a Palo Alto, Calif.-based vendor of governance, risk and compliance (GRC) management apps, to deliver GRC solutions to multiple industries, including financial services, healthcare and insurance.
The partnership agreement calls for each company to support the other’s prospects and customers with a combination of MetricStream’s GRC product portfolio and specialist consulting, and GRC implementation services from Virtusa. 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 applications and solutions, we rely on our robust and global partner ecosystem to support our customers and derive maximum value from their GRC investments,” comments Rohit Bedi, senior VP and head of partnerships, 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’s consulting resources include significant expertise in developing and supporting compliance management solutions, as well as creating and managing “accelerator” systems tailored to clients’ industry-specific challenges, according to a joint statement from the vendors. Combined with its GRC consultancy services, Virtusa offers MetricStream’s customers what the companies a “one-stop-shop” for their risk and compliance management needs. Virtusa says that its industry solutions are aimed at helping 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 adds. “Virtusa provides quicker time to value to client by offering industry-specific knowledge and expertise.”
Meeting Increasing Regulatory Demands
Increasing regulatory requirements in financial services, along with operational risk and vendor management oversight, continue to demand significant spend and resource allocation across enterprises, advises Bob Graham, senior VP, Banking and Financial Services. “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,” he asserts. “We look to partner with organizations 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 what the vendor characterizes as 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.