BWI: Maveric Systems Moves Upstream to Offer Assurance Services

Press release from Business Wire India
Source: Maveric Systems
Friday, October 19, 2012 05:22 PM IST (11:52 AM GMT)
Editors: General: People; Business: Business services, Information technology; Technology
--------------------------------------------------
Maveric Systems Moves Upstream to Offer Assurance Services
Plans to recruit 200 people this year (FY 13)

Chennai, Tamil Nadu, India, Friday, October 19, 2012 -- (Business Wire India) -- Maveric Systems, a leading global independent software testing specialist, today unveiled its new corporate positioning -"Assurance Services Provider". Moving up the value chain, Maveric will now focus on 'defect prevention' apart from 'defect detection' (Software Testing) and partner its clients across the entire IT adoption lifecycle. Known for its strong focus on the BFSI sector, Maveric will now offer Testing and Assurance Services for the Telecom vertical as well. Gearing up for its new avatar, the company plans to recruit 200 people this year (FY 13), taking the total employee headcount to 1000.

Industry reports indicate that over 35% of the IT budget of a company is wasted owing to poor definition and management of the IT requirements. Various parties come into the IT adoption lifecycle at various points-consulting companies, system integrators, application vendors and software testing players. But no one player assures quality across the technology lifecycle. Herein lies the need and opportunity for lifecycle Assurance - a focus on quality from the requirements stage to the go-live stage.

Responding to this emerging need of clients, Maveric will now provide upstream Assurance Services, wherein Maveric will:

-- Partner its client across the entire technology adoption lifecycle - from defining the requirement till the product goes live in the market

-- Engage deeply with the client's 'Business' in addition to IT

Speaking about the market opportunity for Assurance, Mr. N N Subramanian, Director - Program and Process Assurance Services, Maveric Systems, said, "By the time a testing company is engaged towards the latter part of an IT adoption lifecycle, a lot of poor quality could already get injected into a project or program. CEOs and CIOs today have a more mature understanding of Assurance and realize the need for increased focus on quality at a much earlier stage in the lifecycle. In light of this, we decided to move upstream and re-position Maveric as a partner committed to stay with clients from requirements to release. Our approach is holistic, we will provide a comprehensive solution spanning the entire project lifecycle of our clients. Accordingly we have expanded our services portfolio and are ramping up fast to tap the rapidly expanding global Assurance market which is estimated to be about USD 39 billion."

In line with its transformation, Maveric has restructured the organization into three business units and has expanded its service offerings to cover the Program Assurance, Process Assurance and Application Assurance (this is predominantly Software Testing) requirements of its clients in the BFSI and Telecom space. The company is building a leadership team for each of the three service lines (program, process, application). As an end-to-end Assurance partner, Maveric will now take accountability for requirements definition, requirements validation, comprehensive functional & non-functional testing, and process quality assessment, definition & improvement. The company's services will be supported by unique domain-specific solution accelerators and frameworks that significantly enhance the quality of delivery. Maveric will continue its thrust on innovation, R&D and IP creation, to power its new service offerings.

Commenting on the new positioning, Mr. Ranga Reddy, Co-founder and CEO, Maveric Systems, said, "Being an Assurance Partner is a natural extension of what we have been doing for the past 12 years. We started working towards this transformation about 18 months ago, and have been offering Assurance services such as Requirements Management to our clients. The initial response to our new services has been extremely encouraging. The goodwill we enjoy from our clients, and the domain and program management insights we have gained are assets that will facilitate our repositioning. We are now fully prepared to increase the depth of our involvement with our clients as a strategic Assurance Partner.

Maveric is targeting USD 14 million over the next 36 months from its new service lines. Over the next 36 months, we expect our new services lines to contribute 30% of our overall topline. Software Testing will continue to be our base, amounting to 70% of our revenue."

In the year ahead, Maveric will focus on gaining traction for its Assurance services in India, APAC, MEA and Europe.

Re-branding exercise

Maveric has undertaken several marketing activities to promote its new brand look and message. A key touchpoint, the company website has been completely revamped: www.maveric-systems.com. While there is no change in the company's master logo, the new tagline below the logo reads 'Transforming Assurance'.

About Maveric Systems

Started in 2000, Maveric Systems is a leading provider of Assurance Services across the technology adoption lifecycle, with a strong focus on the BFSI and Telecom sector. Founded with a focus on software testing, Maveric has built a business on the principles of independence, vertical focus and innovation. Maveric's client portfolio includes a wide array of renowned banks, financial institutions, insurance companies, leading software product companies and telecom companies. Headquartered in Chennai, the company has offices in Mumbai, Bangalore, Dubai, Riyadh, London, New Jersey, Singapore and Kuala Lumpur. Maveric also has a dedicated global offshore delivery centre and a Testing R&D lab in Chennai. For more information, please visit: http://www.maveric-systems.com/.



CONTACT DETAILS
Sangeetha Mohan, Maveric Systems, sangeethamohan@maveric-systems.com
Nikhila Kesavan, 20:20 MSL, +91 9840124036, nikhila.kesavan@2020msl.com
Avinash Kagava, 20:20 MSL, +91 9003116691, avinash.kagava@2020msl.com

KEYWORDS
PEOPLE, BUSINESS SERVICES, IT, TECHNOLOGY

If you wish to change your Business Wire India selection please click on this link http://www.businesswireindia.com/media/news.asp and use your personal username and password to login.

Submit your press release at http://www.businesswireindia.com