Vitech Systems Group Strengths, Domain Expertise, and Key Differentiators
Vitech Systems Group is a provider of administration software to insurance, retirement, and investment organizations. Additionally, Vitech implementation and integration services are necessary to make the V3 software a truly transformative business solution within any organization. From initial planning, to project execution, to cutover and ongoing support, the Vitech services team is there to partner with the customer every step of the way.
Vitech Systems Group Recent Developments
In September 2021, Vitech appointed Richard Hart as Chief Executive Officer. Richard has served as Vitech’s interim CEO since March 2021 and has served on Vitech’s Board of Directors since 2019. Prior to joining Vitech, Richard served as CFO and Chief Strategy Officer at Guidewire Software, a global organization focused on the development and delivery of cloud-based platform services to the property and casualty insurance industry, and has served in various advisory and leadership roles in financial and technology companies throughout his career.
In 2020, Vitech became an Amazon Web Services (AWS) Financial Services Competency Partner. The partnership with AWS allows Vitech to even more effectively help clients revolutionize their market offerings.
In June 2018 Vitech unveiled V3locity, a SaaS-based offering of its flagship V3 software. V3locity is a fully managed, public cloud-native solution that provides unprecedented performance, scalability, resiliency, and security to V3 customers. Initially available via Amazon Web Services, V3locity will help organizations increase speed-to-market, improve administrative operations and expand customer servicing capabilities, all while simplifying operations and avoiding the need to deploy and maintain the increasingly complex computing infrastructure associated with running enterprise software."
Vitech Systems Group Mergers and Acquisitions (M&A) Activities
In June 2019, Vitech Systems Group signed a definitive agreement with funds advised by CVC Capital Partners under which CVC Fund VII and CVC Growth Partners will make a majority investment in Vitech System Group.
Vitech Systems Group Customers in ARTW Customer Database
Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying Vitech Systems Group applications and why? And we provide the answers – supported by decades of research – to our clients around the world. Our Customer database has over 100 data fields that detail company usage of Vitech Systems Group and other enterprise apps by function, customer size, industry, location, implementation status, partner involvement, Line of Business Key Stakeholders and IT decision makers contact details. List of Verified V3locity customers.
Vitech Systems Group Overview
Ownership: - CVC Capital Partners
Number of Employees: 1600
Functional Markets: Content Management, CRM, ERP Financial, ERP Services and Operations Management, HCM,
Key Verticals: Banking and Financial Services, Federal Government, State and Local Government, Public Safety, Life Insurance, P&C Insurance, Specialty Insurance, Professional Services,
Vitech Systems Group Key Enterprise and Cloud Applications
V3locity
Vitech Systems Group Revenues, $M:
| Type/Year | 2020 | 2021 | YoY Growth, % |
|---|---|---|---|
| Total Revenues, $M | Subscribe | Subscribe | Subscribe |
| Enterprise Applications Revenues, $M | Subscribe | Subscribe | Subscribe |
| Cloud Applications Revenues, $M | Subscribe | Subscribe | Subscribe |
* Enterprise Applications Revenues = License + Support & Maintenance + SaaS
** All revenue figures are estimates based on public records, Cloud and Non-Cloud business models in Apps Run The World's vendor database, and annual survey results including vendor feedback.
Vitech Systems Group Revenue Breakdown By Type, $M:
| Type | License | Prof. Services | Hardware | Support & Maintenance | SaaS | PaaS | IaaS | Other (Non Enterprise Application Revenues) | Total |
|---|---|---|---|---|---|---|---|---|---|
| % of Total Revenues | Subscribe | Subscribe | Subscribe | Subscribe | Subscribe | Subscribe | Subscribe | Subscribe | 100% |
| Revenues, $M | Subscribe | Subscribe | Subscribe | Subscribe | Subscribe | Subscribe | Subscribe | Subscribe | Subscribe |
Vitech Systems Group Enterprise Applications Revenues By Functional Markets, $M:
Vitech Systems Group Enterprise Applications Revenues By Verticals, $M:
Vitech Systems Group Revenues By Region, $M
| Region | % of Total Revenues | 2021 Total Revenues, $M | 2021 Enterprise Applications Revenues, $M | 2021 Cloud Applications Revenues, $M |
|---|---|---|---|---|
| Americas | Subscribe | Subscribe | Subscribe | Subscribe |
| EMEA | Subscribe | Subscribe | Subscribe | Subscribe |
| APAC | Subscribe | Subscribe | Subscribe | Subscribe |
| Total | Subscribe | Subscribe | Subscribe | Subscribe |
Vitech Systems Group Direct vs Indirect sales
| Region | Direct Sales | Indirect Sales | Total |
|---|---|---|---|
| Type % | Subscribe | Subscribe | Subscribe |
| Revenues, $M | Subscribe | Subscribe | Subscribe |
Vitech Systems Group Customers - Breakdown by Geo, Size, Vertical and Product
List of Verified Vitech Systems Group Customers
No. of Vitech Systems Group Customers: 100+
No. of Vitech Systems Group Enterprise Applications Customers: 100+
No. of Vitech Systems Group Cloud Customers: x
No. of Vitech Systems Group Cloud Subscribers: x
Vitech Systems Group has more than 100 clients through North America, Europe, Asia, and the Middle East.
Among its customer are: Pennsylvania Public School Employees Retirement System (PSERS), Employees Retirement Fund of the City of Dallas (Dallas ERF), Manulife, New York City Police Pension Fund (NYCPPF), San Mateo County Employees Retirement System (SamCERA), The World Bank Group and many others.
Vitech Systems Group Market Opportunities, M&A and Geo Expansions
In March 2021, Vitech hired its 800th employee, reflecting the dynamic growth and productivity of Vitech’s newest space. Vitech first established its presence in Hyderabad in 2003 to provide 24/7 coverage and additional support for Vitech’s clients.
"In June 2018, Vitech unveiled V3locity, a SaaS-based offering of its flagship V3 software. V3locity is a fully managed, public cloud-native solution that provides unprecedented performance, scalability, resiliency, and security to V3 customers. Initially available via Amazon Web Services, V3locity will help organizations increase speed-to-market, improve administrative operations and expand customer servicing capabilities, all while simplifying operations and avoiding the need to deploy and maintain the increasingly complex computing infrastructure associated with running enterprise software.
V3locity also unleashes an extended array of new features by pairing V3 with the ever-increasing power of public clouds, including artificial intelligence capabilities, automated regression testing, and integration with home assistants, like Amazon's Alexa."
Vitech Systems Group Risks and Challenges
Migration to the Cloud is a Work in progress.
Vitech Systems Group Ecosystem, Partners, Resellers and SI
"Vitech Systems is headquartered in New York City and employs over 1600 professionals across the world in cities such as Toronto, Chicago, Los Angeles, San Francisco, Oklahoma City, Washington D.C., Atlanta, Dublin, Paris, London, and Zurich.
It does most of its sales via direct sales."
Vitech Systems Group Cloud Infrastructure Insights
Subscribe to read more about:
- Vitech Systems Group Public Cloud and Infrastructure (IaaS)
- Vitech Systems Group Platform (PaaS)
- Vitech Systems Group Application Delivery
- Vitech Systems Group Private Cloud and Data Centers
Research Methodology
Data used in research reports are derived from publicly available documents, continuous surveys of applications vendors, customers, resellers, Independent Software Vendors, systems integrators and other verifiable sources.
Vendor shares and market forecast results are based on a combination of existing databases as well as demand side and supply side research conducted throughout the year with validation from vendors, customers, channel partners and documentations such as earnings releases and 10Q and 10K filings, vertical industry studies, regional and country-level statistics from public and private institutions(i.e. colleges, universities, government agencies and trade associations).
For additional information on our methodologies, here's the link:
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