Financial Times

Virtusa’s ‘productization’ methodology receives US trademark
US-based Virtusa Corporation has received the US Patent and Trademark (USPT) Office registration for its unique service offering named Productization. The company first used the term Productization commercially in June 2003.
Virtusa’s Productization is a methodology that creates and consolidates technology assets into Organization Specific Platforms that are then leveraged across different silos of a client organization to build future applications or vertical solutions, the company said in a statement.

According to Virtusa Chairman and CEO Kris Canekeratne, “This is a terrific endorsement of our tried and proven Productization concept. In order to be awarded a service mark, one has to prove to the USPT Office the uniqueness and authenticity of the service mark. Much of the groundbreaking work we have done in this regard has enabled our clients to derive competitive advantage by leveraging productization to launch new products and services to market faster, thereby accelerating top line growth. We have used this methodology and process across all service offerings and inculcated this as a mindset within Virtusa. It is now an intellectual property asset of the corporation.”

By virtue of its experience in building over one thousand complex, cutting-edge software platforms for large enterprises and leading enterprise software companies, Virtusa’s unique Productization methodology provides tangible reductions in total cost of ownership (TCO) while stimulating new revenue streams, the statement said.

Virtusa’s goal with these solutions is to help its clients institutionalise large-scale asset reuse and best practices, while leveraging the cost efficiencies of a global model.

This is not unlike the automobile industry, where leading manufacturers are able to reuse up to 80% of their components and platforms across multiple product lines.

“As the pioneers of productization we deliver a unique value proposition to our clients,” noted Tarun Sharma, Head of productization. “Being issued a registered service mark confirms it. Clients that leverage productization methodologies will ratchet-up productivity, quality and reliability.”

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