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NEWS : EXTERNAL PRESS COVERAGE 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."
Contact: Peter Burton
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