NEWS : EXTERNAL
Virtual Strategy Shows its Stuff
Mass High Tech
For the past five years, engineers
at Virtual Strategy Inc. in Boston have been working on enterprise
data software on the sneak.
After bringing on a chief
executive and two major customers, the company is ready to come
out of hibernation.
Virtual Strategy officials
say they are doing what no other company has been able to do - giving
companies an edge on what their future may look like.
Companies will be able to
determine how much money they will lose if they discontinue a product,
or close a particular office, or determine how cost effective it
would be to let go 100 employees.
Just last month VSI showed
a demo of its product at the data warehouse show.
David Bowman, former Chief Architect at
Fidelity Investments and Wang Labs and now CEO at Virtual Strategy,
said he will build an enterprise-wide model and show any company
in one week what it can do - for free.
"We'd like to issue the
Pepsi Challenge. Let us come in and in one week we'll build an enterprise-wide
model and show you what we can do," Bassi quipped.
Bassi said his business allows
executives to have a personalized view of the entire enterprise
and make decisions based on scenario analysis. He also pointed out
that this technology would be most useful today, during the downturn
of the market. A scenario based on a possible merger or acquisition
can help the company determine whether it would be beneficial to
merge or acquire another company.
The company is now in the
process of developing a sales and marketing campaign, and is seeking
between $2 million and $5 million to do so. Since its official rollout,
the business has signed deals with two major banks.
Nedcor Ltd., a $21 billion
bank in South Africa which has operations in Hong Kong, Beijing,
London and Taiwan, has integrated 35 data sources including transactions
for its two million customers and 15,000 employees and products.
Recently Virtual Strategy
signed on Eastern Bank, based in Lynn, as its first U.S. client.
Eastern Bank can use the software
to make business decisions based on the data analysis.
"This product allows
us to look into the future and see how our products fare,"
said Joe Bartolotta, Eastern Bank's spokesperson.
Bartolotta went on to say
that the bank can change a product price by a penny and see what
effect it will have on a business. More over, the software allows
Eastern to analyze business branch by branch.
Lisa Williams, a Yankee Group
analyst said, "Traditional business intelligence solutions
are often expensive and inflexible, ending in failure. Virtual Strategy
offers a faster, flexible and up-to-the-minute alternative that
delivers better business intelligence today."
Virtual Strategy, Inc.
236 Huntington Ave. Suite 316
Boston, MA 02115
Contact: Peter Burton