Vitech Systems Group Strengths, Domain Expertise, and Key Differentiators
Vitech Systems Group provides specialized administration software designed for insurance, retirement, and investment firms. Their end-to-end implementation and integration services ensure smooth adoption and continuous support, making V3 software a transformative solution for organizations throughout every phase of implementation.
Vitech Systems Group Recent Developments
In 2024, Vitech Systems Group introduced significant enhancements to its V3locity platform, focusing on AI-driven analytics, automation, and digital servicing to support insurance and pension administration. Key updates included the expansion of the InsightNow solution for operational insights into billing, enabling specialists to identify payment delays and trends using natural language queries. Additionally, the Business Events framework was upgraded to support automated actions like document generation and email sending through a low/no-code interface. The platform also integrated digital wallet capabilities, allowing members to access ID cards via Apple Wallet and Google Wallet, and introduced a structured enrollment file to streamline client onboarding and support industry-standard formats.
Vitech Systems Group Mergers and acquisitions (M&A) Activities
In June 2019, Vitech Systems Group entered into a definitive agreement with funds advised by CVC Capital Partners, through which CVC Fund VII and CVC Growth Partners acquired a majority stake in Vitech Systems 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 Market: Benefits Administration, Pension Administration,
Key Verticals: Banking and Financial Services, Government, Insurance, Professional Services,
Vitech Systems Group Key Cloud and HCM Applications
V3locity
Vitech Systems Group HCM and Cloud HCM Applications Revenues, $M:
| Type/Year | 2023 | 2024 | YoY Growth, % |
|---|---|---|---|
| Total Revenues, $M | Subscribe | Subscribe | Subscribe |
| HCM Applications Revenues, $M | Subscribe | Subscribe | Subscribe |
* HCM Applications Revenues = License + Support & Maintenance + SaaS ( Hardware and Prof. Services are Excluded )
** 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:
Vitech Systems Group HCM Applications Revenues By Sub-Functional Markets, $M:
Split by Sub-Functional Markets | % of HCM Revenue in the HR Segment | 2024 HCM Revenues, By HR Segment, $M | |
Vitech Systems Group HCM Applications Revenues By Verticals, $M:
Vitech Systems Group Total and HCM Applications Revenues by Region:
| Region | % of Total Revenues | 2024 Total Revenues, $M | 2024 HCM Applications Revenues, $M |
|---|---|---|---|
| Americas | Subscribe | Subscribe | Subscribe |
| EMEA | Subscribe | Subscribe | Subscribe |
| APAC | Subscribe | Subscribe | Subscribe |
| Total | Subscribe | Subscribe | Subscribe |
Vitech Systems Group Direct vs Indirect sales
| Type | 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 HCM Applications Customers: x
No. of Vitech Systems Group Cloud HCM Customers: x
No. of Vitech Systems Group Cloud HCM Subscribers: x
Vitech Systems Group serves over 100 clients across North America, Europe, Asia, and the Middle East.
Vitech’s clients include prominent organizations such as the 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
Vitech Systems Group has been actively pursuing innovation and expansion opportunities to enhance its position in the insurance and retirement technology sectors. Vitech's V3locity platform has seen enhancements, including AI-powered analytics and digital self-service capabilities, aimed at improving operational efficiency and member engagement. Additionally, the company's expansion of its global workforce, notably in its Hyderabad, India office, reflects its strategic growth and dedication to supporting a diverse client base.
Vitech Systems Group Risks and Challenges
Despite its strengths, Vitech faces internal and external challenges. Internally, the ongoing migration to the Cloud, while essential, is a complex transition requiring careful customer communication and operational resilience. Missteps could risk client dissatisfaction or increased churn.
Vitech Systems Group Ecosystem, Partners, Resellers and SI
Vitech Systems is headquartered in New York City and employs over 1,600 professionals worldwide, with offices in cities including Toronto, Chicago, Los Angeles, San Francisco, Oklahoma City, Washington D.C., Atlanta, Dublin, Paris, London, and Zurich.
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:
https://www.appsruntheworld.com/taxonomy
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