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About Us - Firm History Virtcom Consulting > About Us > Firm History
Virtcom Consulting is a relatively new player to the global 1000 that has experienced rapid business growth since its arrival onto the world stage in mid-2000. Launched on the heels of the 1990s Internet boom, Virtcom aimed to leverage key technology and entrepreneurial insights and apply them to large corporate environments at its inception. The firm’s first major project was an e-commerce strategy report for a leading global financial services institution. The challenge was to determine whether the client should invest millions of dollars into the development of a B2B portal focused on a specific segment of the customer base. Despite the remaining hype about the prospect for growth in this particular area, Virtcom’s in-depth competitive analysis revealed a consistent theme—lack of true revenue growth opportunity. That contrarian analysis saved Virtcom’s client millions of dollars, as well as unnecessary headaches. Emboldened by this early success, the firm became a de facto internal consulting unit for its first client and worked on numerous strategic management projects over several years. One of the largest engagements Virtcom undertook during this time involved setting up a procurement card that targeted minority and women-owned businesses. The primary challenge entailed determining how to encourage enrollment in these two customer segments. In conjunction with several banks, a unique product offering was developed and the targeted business owners were invited to participate in seminars that explained how to do business with the US Federal Government. In the end, all parties involved benefited: the government benefited from an easier payments system, the business owners benefited from receiving their payments faster, and the client benefited from the new revenue stream. This was the first time that Virtcom discovered the great financial value of women and minority markets. This experience in a “corporate boot camp” setting provided the firm the opportunity to develop a new set of custom management solutions designed to tackle complex diversity management challenges. In 2004, Virtcom Consulting emerged from under the radar and gained more exposure to various clients and management challenges. In recognition of the firm’s successes, Virtcom’s founder was acknowledged that same year by Minority Business & Professionals Network as one of the Fifty Influential Minorities in Business. Furthermore, the firm’s founder and CEO established the World Diversity Leadership Summit (WDLS) in Prague, Czech Republic in 2004. Now in its third year, the WDLS is an annual conference that attracts corporate executives, diversity professionals, academics, and government officials from all over the world to engage in a productive dialogue on practical solutions to complex global diversity management challenges. In 2007, the conference was held in the United States for the first time at the United Nations Headquarters in New York City. The firm’s uncanny balance of professional analytic expertise informed by business wisdom has over the years translated into a blue chip roster of clients that includes companies such as Visa, HSBC, The New York Times, Sovereign Bank, & Johnson Controls among others. Virtcom has many new corporate implementations targeted for 2007 and will soon be revealing 4 new case studies of proven ROI from diversity initiatives. |
News WDLS 2009 IS COMING SOON! September 15-17, 2009 |
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The World Diversity Leadership Summit
Hosted by the United Nations Gender Focal Point, the WDLS brought together leading policy experts, government officials, corporate executives, and NGO representatives at UN Headquarters in New York City to discuss the ramifications of diversity on the globalization process. Visit www.WDLSummit.com for more information. |
