MidSize IT Service Providers

2013
AN EVEREST GROUP REPORT
Mid-sized Indian Service Providers: Stepping Up in

Changing Times
Reassessing the Relevance of Mid-sized
Indian IT Service Providers
Jimit Arora, Vice President

Chirajeet Sengupta, Practice Director
Ashwin Venkatesan, Senior Analyst
Copyright 2013, Everest Global, Inc. All rights reserved.
This research is intended to demonstrate examples of best practices within specific segments of the IT global services market.
Everest Group and the enterprises discussed in this report do not in any way intend to endorse specific service providers, by
way of the case examples cited in this report.
research.everestgrp.com
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MID-SIZED INDIAN SERVICE PROVIDERS: STEPPING UP IN CHANGING TIMES
Executive Summary
India continues to remain the dominant IT services offshoring market,
characterized by the presence of a large set of diverse and competent service
providers. The Indian IT services service provider market, thereby, provides a
wide array of choices for enterprise and mid-market IT services buyers, as they
seek to optimize their service provider portfolio.
In recent times, the evolving IT offshoring landscape has thrown out a new
competitive dynamic, with IT outsourcing no longer remaining just backoffice, but in effect a key business enablement tool for enterprises. New value
drivers for outsourcing, such as innovation and responsiveness, as well as the
advent of disruptive technologies, such as cloud computing, are pushing
enterprises to look for specialized products and solutions that help lower timeto-market, and enhance the overall customer experience.
Mid-sized Indian IT service providers (revenue between US$100 million and
US$1 billion) have identified a unique opportunity in addressing these
specialized requirements of enterprises. These players have created specific
niches by building specialized offerings (for specific industry verticals, service
lines, or technology stacks), and have created a differentiated positioning
amongst enterprises of varying sizes through their maturing capabilities and a
flexible engagement approach.
This Everest Group research examines the relevance of Indian mid-sized service
providers within the context of an enterprise services portfolio. As examples, we
also look at the distinctive value proposition of four leading mid-sized service
providers Hexaware, Microland, NIIT Technologies, and Polaris Financial
Technology. These service providers, in aggregate, have achieved a higher
revenue growth than the industry average over the past few years. This is mainly
attributable to their success in establishing differentiated offerings through
focused investments, efficient mining of existing clients, and creation of a strong
brand in their niche areas.
This is illustrative of the imperative for mid-sized players to break away from the
undifferentiated, me-too positioning platform that has traditionally revolved
around labor arbitrage values. In order to succeed in the market, mid-sized
Indian IT service providers must pick their areas of specialization, excel in them,
and communicate their capabilities to the broader market.
In this report we examine:
The role of mid-sized service providers in a buyers portfolio
Dimensions for differentiation of mid-sized service providers
Fact-based snapshots, including details on the differentiated foundations for

growth, and a case study highlighting success for each of the four service
providers
Implications for buyers and service providers
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Table of contents
Winds of Change in the Global IT

Services Market............................3
India continues to Lead the
Transforming IT Offshoring
Landscape..............4
Mid-sized Service Providers
Increasingly Relevant across Buyer
Segments.............................6
Differentiated Value Proposition of
Mid-Sized Service Providers....6
Differentiating Value Propositions of
Showcased Service Providers.........7
Conclusion: Implications for Buyers
and Service Providers...............21
EXHIBIT
Winds of Change in the Global IT Services Market

A perfect storm
The global IT sourcing market has witnessed a gradual shift in the focus of
customers from pure cost reduction to obtaining more tangible value and
improved process efficiencies through outsourcing programs. Budgetary
constraints are pushing enterprises towards aligning cost structures with
business volumes consequently, service providers are under relentless pressure
to improve the price-quality ratio for their offerings. This development has
resulted in the exhaustion of value levers that have traditionally formed the basis
for global IT outsourcing.
Value drivers IT offshoring

Traditional value drivers
Labor arbitrage
Scale benefits
industry
Emerging value drivers

Innovation
Responsiveness
Advent of next-generation
technologies (cloud, mobility,
big data, etc.)
Source: Everest Group
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Labor arbitrage: While cost remains the motive for outsourcing adoption,
contracts are being evaluated by customers on service level attainment and
quality. Improving process efficiency and quality, and obtaining tangible RoI
have now replaced OPEX reduction as the outsourcing objectives.
Consequently, companies aspire to gain access to higher levels of skills and
business acumen, with IT outsourcing no longer remaining just backoffice.
Scale benefits: Customers increasingly prefer multi-sourcing arrangements
over single-source deals and discounts, intending to leverage specific
provider skills and competitive contract prices. Output-based pricing models
with shorter contract durations are being preferred as clients seek to transfer
productivity and management risks to the service providers. Further, mature
markets, such as the United States, are witnessing saturation in IT
penetration in large organizations, and consequently, there remains very
little scope for Big Bang outsourcing deals.
The search for new value drivers

With businesses looking at IT outsourcing to assist top line enablement rather
than just as a cost-saving measure, new value drivers have emerged.
Innovation: Clients expect IT outsourcing service providers to not just act as

functional support providers, but rather as partners who can understand
and, therefore, help them drive their business. This outlook is underscored
by the increased proportion of the core and strategic IT processes that
clients now look to outsource. Service providers are consequently being
pushed to innovate their product and services strategy and come up with
offerings that go beyond addressing the traditional non-core IT functions of
enterprises.
Responsiveness: With time-to-market becoming a critical element in
overcoming cut-throat competition, clients expect IT contracts to have lower
payback time, instead of being long-drawn, end-to-end transformational
deals. Outsourcing providers are expected to showcase flexibility, not only in
terms of pricing, but also in terms of the scope and nature of services to be
covered over contract durations. Clients prefer contracts that can help scale
up parts of their business witnessing growth, and scale down outsourcing
volume for areas with declining transaction levels.
Advent of next-generation technologies: The adoption of next-generation
technologies, such as cloud computing, mobility, and big data & analytics,
allows enterprises to achieve a high degree of collaboration, real-time
information sharing, and enhanced corporate end-user experience across
business functions, in a cost-effective manner. However, this also calls for
more specialized skills, and leads to increased complexity in management of
the IT estate.
India Continues to Lead the Transforming IT Offshoring

Landscape
The emerging trends and value drivers in the IT outsourcing space call for
innovative products and solutions that help businesses reap tangible benefits
over a relatively short timeframe. Only service providers with experience in
relevant technologies, verticals, and a willingness to engage through flexible
models can address such requirements.
In spite of technology services undergoing a sea change, India continues to be
the most preferred outsourcing location. Indian service providers have
successfully leveraged their experience to innovate, and retain their competitive
advantage in the market. This, coupled with traditional strengths, such as cost
arbitrage, availability of a large talent pool, strong service delivery
infrastructure, and meaningful government policies and initiatives, has ensured
that India continues to command more than half of the global offshore IT
services market.
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EXHIBIT
Indian offshore IT services

market and service provider
landscape 2012
Global IT sourcing market size

2012; US$ billion
100% =
76-78
Other offshore
destinations
~43%
Indian IT service exports provider landscape

2012; US$ billion
100% = ~44
GICs
~10-12%
MNCs
~10-15%
Source: NASSCOM 2013
India
~57%
~73-75%
Indian service
providers
2012
Mid-sized players have made strides

The Indian service provider base is characterized by the presence of diverse and
competent providers, which offers a wide array of choices for enterprise and
mid-market IT services buyers.
Global MNCs and large offshore service providers have traditionally dominated
the IT offshoring services through a strong global delivery footprint and an
aggressive growth strategy. However, with the value drivers for IT outsourcing
undergoing a fundamental change, mid-sized, home-grown service providers
(with revenue in the range of US$100 million to US$1 billion) have become an
integral part of Indias IT offshoring growth story.
Mid-sized service providers have created a niche for themselves in the IT
offshoring market through prudent investments and channeled focus on specific
technology silos and industry verticals. These players have become highly
competitive through a balanced approach of mining existing accounts and
investing in new clients and technologies. The increasing maturity of these
providers has enabled them to not only target mid-market enterprises, but also
compete on large deals with global majors.
Consequently, mid-sized service providers now account for a sizeable chunk of
the Indian IT offshoring services market, and are expected to continue to play an
important and meaningful role in the future.
but there are miles to go
While it is evident that mid-sized Indian service providers are here to stay, their
task remains cut out in order to remain highly competitive in the offshore
services marketplace. These service providers will need to differentiate
themselves from the pack and build mindshare and credibility based on unique
value propositions (e.g., domain and service expertise) in order to remain
relevant and deliver compelling value to their customers.
Carving out specific niches and demonstrating a differentiated value proposition
that goes beyond labor arbitrage and lower billing rates will be key for these
providers to sustain growth and remain successful.
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Mid-sized Service Providers Increasingly Relevant across

Buyer Segments
Enterprises increasingly view IT services outsourcing as a key business enabler
that promotes business agility, responsiveness, and an enhanced customer
experience. Evidently, the fundamental shift in value drivers has transformed the
perspective of businesses regarding IT outsourcing, be it first-generation
adopters or businesses experienced in outsourcing. This change in perspective
is typically characterized by a need for specialized capabilities (for specific
verticals, technology, workloads, etc.), faster time-to-market, and a flexible
engagement model that is tailored to the buyers unique requirements.
Relevance to mid-market enterprises: Mid-sized IT service providers are wellpositioned to address the mid-market segment by virtue of their maturing
capabilities, specialized offerings, and strong service orientation. Mid-sized
players continue to remain highly relevant to mid-market buyer
organizations looking for flexible outsourcing partners who can dedicate the
desired amount of attention and resources. Mid-sized service providers
perceive this as an opportunity to become a strategic and core part of the
services portfolio of mid-market buyers, including first-generation adopters.
Relevance to large enterprises: Mid-sized players also play an increasingly
significant role within the portfolio of large enterprises, primarily in the form
of domain specialists. Large buyers seek to leverage the experience and
understanding of mid-sized service providers in dealing within specific
industry verticals and technology environments. Mid-sized players are also
well-suited to address ad-hoc requirements and volume fluctuations of large
buyers (one-off project engagements), owing to favorable pricing terms (with
lower corporate overheads as compared to larger players), flexible
engagement models, and high levels of delivery agility. Finally, mid-sized
players remain highly relevant to large enterprises as credible alternatives to
a core provider, and thereby help promote healthy competition within the
portfolio.
Differentiated Value Proposition of Mid-sized Service

Providers
A closer look at the mid-sized IT service providers reveals three broad themes
along which mid-sized players typically provide a differentiated value
proposition - vertical specialization, service offering specialization, and
technology expertise. Service providers also leverage other differentiated
propositions architected around specific geographic expertise, engagement
models (e.g., virtual captive and build-operate-transfer), or pricing models
(e.g., outcome-based pricing). However, these are more relevant for specific
client relationships or market segments, and do not feature as consistent
differentiation themes across the broader set of mid-sized service providers.
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EXHIBIT
3
Specialization themes
Differentiated value propositions

of mid-sized IT service providers
Vertical expertise
Service expertise
Specialized offerings for,

and domain expertise in
specific industry vertical(s)
Characterized by a deepdive into key sub-segments
(e.g., airlines or logistics
within travel/transportation,
capital markets within BFSI),
and key functions (e.g.,
claims management within
insurance)
Investment themes include
building IP set, development
of reusable tools and
frameworks, and building
vertical-specific talent pool
Technology expertise
Offerings revolving around

specific IT services (e.g.,
infrastructure management
services, testing services,
cloud-based application
services)
Services offered could
further be customized for
specific verticals (e.g.,
business process mapping
for the banking sector),
workloads (ERP or SAP
application development
and maintenance), or even
specific geographies (in line
with local languages,
regulations, etc.)
IT services or products built

around specific technology
stacks (e.g., Google
technologies)
Services around next
generation technology
themes such as cloud
computing and big data
analytics
Differentiating Value Propositions of Showcased Service

Providers
Everest Group has assessed the capabilities of four leading providers
Hexaware, Microland, NIIT Technologies, and Polaris FT in terms of their
specific offerings across industry verticals, service lines, and their ability to serve
across niche technologies.
These players serve as useful reminders of the relevance, and increasing market
success of mid-sized Indian IT service providers. Over the period 2009 to
2012, two of these four providers recorded revenue growth in excess of the
industry (Exhibit 4).
EXHIBIT
Revenue
US$ million
Scale and growth of featured
CAGR: 2009-2012
19.3%
30.5%
365
376
Hexaware
NIIT
Technologies
Polaris
9,069
8,158
13,076
mid-sized service providers
14.2%
426
Employees
Note: Microland does not report revenue as it is a privately-held firm
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The potential of these mid-sized service providers is underscored by the kind of

investments they have been able to attract for instance, Baring Private Equity
Asia recently bought a controlling stake in Hexaware for ~US$420 million.
While specialization remains a common theme for the success achieved by these
four companies, the focus areas for specialization for each player remain unique
(Exhibit 5).
EXHIBIT
Differentiated
capability
Differentiating value proposition
Hexaware
of featured service providers
Banking & capital

markets, travel &
transportation, and
healthcare &
insurance
Specialization
theme
Vertical expertise
Description
Hexaware has a key focus on these three verticals, which
together account for about two-thirds of its revenue. Hexaware
has invested significantly in developing solutions for various
sub segments, and has successfully partnered with large global
clients in these industries
Microland
Infrastructure
management
services
Service expertise Microland is one of the pioneers of remote infrastructure

management services. Microland has consolidated its position
as a leading IT infrastructure management specialist through
focused investments in delivery frameworks and IP sets, and
differentiated alliances with core technology providers like
VMware
NIIT Technologies
ADM services for
BFSI, travel,
transportation &
logistics, and media
clients
Vertical, service,
and technology
expertise
NIIT Technologies has established itself as a highly credible

ADM services provider, capable of delivering across a wide
range of industry-standard technologies and geographies. The
company has a core focus on the BFSI, transportation &
logistics and media verticals, providing end-to-end ADM
services for various sub segments
Vertical expertise
Polaris FT has established itself as a specialized IT service

provider for the BFSI vertical. It has a deep product heritage
specifically for this sector, and continues to make significant
investments in developing forward-looking financial technology
solutions that span the different facets of the BFSI industry
Polaris FT
BFSI
The following pages provide an overview of these four mid-sized service

providers and include details of Everest Groups assessment of their distinctive
value propositions. These assessments are based on Everest Groups
independent data-driven research, service provider responses to questionnaires,
and interactions with the leadership and clients of these organizations. These
assessments appear in the following order:
Hexaware (Page 9)
Microland (Page 12)
NIIT Technologies (Page 15)
Polaris FT (Page 18)
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Hexaware: Company profile

Summary assessment: Hexaware
has built a specialist focus on
sectors like banking and capital
markets, travel & transportation,
and health & insurance. A broad
suite of service offerings, a strong
client base, and investments in
developing in-house solutions
and frameworks make the
company a major contender for
IT services in its focus verticals.
Company overview
Founded in 1990, Hexaware is a Mumbai, India-based IT and BPO services provider. The
company had an annual revenue of US$365 million in FY 2012. In August 2013, Baring
Private Equity Asia bought a controlling stake in Hexaware for ~US$420 million. The focus of
Hexaware is on providing enterprise solutions, application development & maintenance,
quality assurance & testing services, business intelligence & analytics services, business
process management, as well as infrastructure management services. Hexawares
differentiated capabilities are its distinctive focus on verticals such as travel & transportation,
healthcare & insurance, banking & capital markets, and other emerging industry segments.
Revenue
US$ million
CAGR
Established: 1990
19.3%
Headquarters: Mumbai, India

215
Revenue (FY ending December

2012): US$365 million
Employees (as of December
2012): 9,069
Leadership:
Atul K. Nishar, Chairman
P R Chandrasekar, Global
Chief Executive Officer &
Vice- chairman
Ramanan R V, President
Global Delivery & Chief
Software Architect
Quality certifications:
ISO 9001:2000
ISO 27001
TickIT
CMMi Level V
PCI-DSS 1.2 Certified
Delivery locations:
India (Mumbai, Chennai,
Pune, Nagpur, Bengaluru,
and Coimbatore)
United States (New Jersey)
Mexico (Saltillo)
Website: hexaware.com
Employees
231
2009
2010
2011
2012
5,137
6,511
8,317
9,069
Key service offerings
365
308
Services mix (as of December 2012)

Percentage
Application Development & Maintenance

(ADM)
Enterprise solutions
Quality Assurance and Testing Services
(QATS)
Business intelligence & analytics
Business Process Management (BPM)
Remote Infrastructure Management
Services (RIMS)
RIMS
BPM
QATS
5%
5%
10%
38%
Business
intelligence 12%
& analytics
ADM
30%
Enterprise solutions
Key business segments

Hexaware focuses primarily on the North American market and derives about two-thirds of its
revenue from the region. Key focus verticals for Hexaware include banking & capital markets,
travel & transportation, and healthcare & insurance, which together account for about twothirds of the company revenue.
Geographic mix (as of December 2012)
Percentage
Industry mix (as of December 2012)

Percentage
APAC
7%
Emerging
segments
Europe 27%
66%
33%
16%
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Banking and
capital markets
North
America
Healthcare and
insurance
31%
20%
Travel and
transportation
Hexaware: Key differentiators

Vertical expertise Transportation and travel
Global Transportation and Travel (GTT) is the second largest industry business unit within Hexaware
The BU has some of the worlds largest airlines and logistics companies as clients
Hexaware has developed differentiated offerings for this industry vertical, three of which are illustrated below
1) Airline passenger services

solutions
Revenue of ~US$24 million in

FY 2012
Team size of 450+
professionals
24/7 support using global
delivery locations
Services provided to six of the
top 20 global airlines
Cloud-based hosting model
provided for select products
such as airline analytics
solutions
2) IT & BPM services for

Maintenance, Repair and
Operations (MRO) industry

FY 2012
Team size of 150+
professionals
Global delivery model
leveraging centers in India,
United States, Canada, and
Middle East
Services provided to airlines,
product vendors, and MRO
service providers
Investments made in
establishing partnerships and
alliances offering these
services in a cloud-based
model
3) Logistics and supply chain

solutions

FY 2012
Team size of 280+
professionals
More than 10 global freight
forwarders, system integrators,
and airlines as clients
Global delivery model
leveraging centers in India,
United States, and Mexico
Innovative solution E Freight
Kit facilitates communication
between freight forwarders and
airlines
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Accounted for ~28% of the GTT business unit revenue in FY 2012

Key offerings include engineering and maintenance services for legacy mainframe and
open technologies, as well as cloud-based offerings
End-to-end services including maintenance, development, production support, and mobile
enablement provided to six of the top 20 global airlines
24/7 support using global delivery locations in United States, Mexico, Germany, and
India
Includes personnel with CMMi Level V and PCMM certifications, and architects with legacy
mainframe skills in IBM TPF/USAS and modern J2EE environment
Structured SLAs for most of the service and engineering contracts
Innovative products include Electronic Miscellaneous Document (offered through a
license / cloud-based hosting model) and pre-built passenger analytics solutions

IT and BPM service offerings for the MRO industry include:
Multi-year support for legacy applications
Implementation and support services for new products
Data migration services for enabling large-scale business warehouse building
Digitization services and post-digital implementation support (i.e., enablement of
mobile devices)
Clientele includes major airlines, product vendors, and MRO service providers
Framework for MRO analytics (developed in-house) offered as a SaaS solution; the
solution can also be ported to industry-standard appliances such as HP Vertica and
Oracle Exalytics

Key offerings include multi-modal freight logistics and supply chain management
solutions, along with implementation, testing, support, and maintenance services
Fixed-bid and input-based contract options provided for service enhancements
E Freight Kit, a patent-pending solution, has been introduced by Hexaware the solution
addresses the industry mandate for Paperless Cargo movement by 2015
This is a Service Oriented Architecture (SOA)-enabled application for facilitating
communication between freight forwarders and airlines
The solution is offered through a pay-per-use (SaaS) model
Support services for industry-leading products on SAP and Unisys, in addition to in-house
products
10
Case study: Application transformation for the airline industry

The client is a large American airline operator.
Client overview
Engagement
overview
Rationale for
engaging with
Hexaware
Key benefits and

results
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The client had a long-standing legacy Call-center Management

System (CMS). The system had been in use for over twenty years, and
there had been several failed attempts at modernization over the last
five years. Hexaware competed successfully against several tier-1
Indian-heritage service providers, as well as local product vendors,
and won the modernization contract in the form of a multi-million
dollar fixed bid agreement, to be executed over two years. The scope
of the engagement included extracting the business rules and logic
from the legacy application, building new technology artefacts, as
well as downstream production deployment and support including
user training for 5,000+ call center agents.
Hexaware successfully differentiated itself on account of its:
Vertical domain expertise Hexaware was able to successfully
demonstrate many years of experience in the aviation industry, as
well as multiple successful instances of implementation and
reengineering of solutions in passenger applications
Niche technology competence Hexaware possessed intimate
knowledge of the clients legacy application, and was able to
demonstrate suitable depth of experience in Google web
technologies
Attractive contracting vehicle Typically, such engagements are
run on a Time and Material (T&M) basis as the scope is
considered to involve significant risk for the service provider. By
virtue of its experience, Hexaware was able to assume the
engagement risk and develop a fixed-price solution
The upgraded system went into production in Q1 2013. Since then,

end user satisfaction has increased dramatically. Further, the new
system is designed in a manner that is more flexible towards future
upgrades. Consequently, not only does the client enjoy a shorter
time- to-market for new business functionalities and features, but its
investment are also better protected over the long term.
11
Microland: Company profile

Summary assessment: Microland
has firmly established itself as an
IT infrastructure services specialist
and continues to be one of the
specialist players in this space in
India. High flexibility in
engagement models, strong
focus on quality delivery and
innovation, diversified customer
base, and investments in building
IP, alliances & differentiated
offerings in emerging
technologies are expected to help
the company sustain its growth
and consolidate its strong
position in the IT infrastructure
services space.
Company overview
Microland is an IT infrastructure services specialist and one of the first companies to promote
the remote IT infrastructure management model. It continues to be one of the largest pureplay remote IT infrastructure management services providers in India with emphasis on
outcome-based model, element-based pricing, automation & analytics, service management,
and hybrid IT services. The company is headquartered in Bengaluru, India and is a privately
held firm. Microland is present across North America, Europe, and Middle East and has its
operations hub in India. It provides IT infrastructure & cloud services across advisory, design
& build, deployment & roll-out, migration, integration & automation, and management
services across a wide range of industries.
Headcount
Number of employees
2,080
2,280
2,520
2,410
2,100
Established: 1989
Headquarters: Bengaluru, India
Microland does not report
financials being a privately held
firm
Employees (as of March 2013):
2,520
Leadership:
Pradeep Kar, Founder,
Chairman & Managing
Director
Rakesh Bhardwaj, Chief
Delivery Officer
M S Rangaraj, Chief
Innovation Officer
Sharad Heda, President,
India & Middle East
ITIL & Six Sigma
ISO 9001
ISO 27001
ISO 20000-1
Delivery locations:
India (Bengaluru, Mumbai,
Gurgaon, Chennai)
UK (Birmingham and others)
US (Various client locations)
Saudi Arabia (Riyadh)
2009
2010
Data center and cloud services

Network, & security, and collaboration
services
End user services
2011
2012
2013
Services mix (as of March 2013)

Percentage
End user
services
23%
38%
39%
Network & security
and collaboration
services

Microlands largest market is North America, followed by the UK these two regions together
account for more than 80% of Microlands revenue. Microlands clientele is spread across
multiple industries, as it provides horizontal services that are vertical agnostic. The leading
verticals it services though are manufacturing, BFSI, IT/ITeS & service providers, and
technology, communications, & media.
Geographic mix (as of March 2013)
Percentage
Industry mix (as of March 2013)

Percentage
India and
Middle East
Others
7%
16%
45% North
America
Website: www.microland.com
UK
39%
IT/ITeS and
service providers 24%
Legal
28%
4%
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Manufacturing
16%
21%
BFSI
Data center &

cloud services
Technology,
communications,
and media
12
Microland: Key differentiators

Service expertise IT infrastructure management services
100% of Microlands revenue comes from IT infrastructure services with 80 to 85% being accounted for by IT infrastructure
management & service desk support services and 10 to 15% being accounted for by IT infrastructure & cloud consulting services
Microland is one of the pioneers of Remote IT Infrastructure Management Services (RIMS) services were started in 2002
Microland is making investments in automation & analytics, and building capabilities in cloud services to address the needs of the
Hybrid IT world
Key highlights
Team size of 2,500+

professionals
Services provided to more than
70 customers across 6
countries
Operations management
centers are ISO 20000-1 and
ISO 27001 certified
Strong technology alliances in
place with VMware, Microsoft,
Citrix, AWS, Cisco, and
Eucalyptus amongst others
Overview
Microland is a specialist in providing IT infrastructure management services, and one of the
pioneers of the RIMS model. Microlands services are based on a flexible engagement model
in terms of delivery, pricing, service window, and service performance metrics. Microland
believes in a co-creation approach with both clients and partners, in order to effectively
address its clients business challenges. It is committed to attaining high levels of customer
satisfaction by providing quality services (e.g., ITIL-based service delivery and outcome-based
models) and having a strong focus on innovation.
Examples of key operations

managed
One of the worlds largest

private Exchange set-ups
consisting of several hundred
thousand mailboxes
One of the largest global
network backbones consisting
of several thousand circuits
and network & security devices
A multi-tenant, multitechnology environment
consisting of several thousand
infrastructure devices spread
across multiple end-clients
Wing-to-wing infrastructure
operations including service
desk support & several other
service lines
A large global roll-out of Win7
across several thousand
desktops and multiple
countries
Investment themes
Microland made significant investments to build its infrastructure management service
capabilities. Key investment themes include:
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Messaging & collaboration services

Network, security & voice services
Data center & enterprise computing services
End user services & service desk
Application operations services
Cloud services
Advisory services (now2cloud assessment)
Design & build and integration & automation services
Private & public cloud and hybrid IT management services
Microsoft consulting services such as Win7/8 migration & roll out, Exchange & O365
migration, and System Center services
Application packaging services
Process consulting services
Automation and innovation Mircoland has established Centres of Excellence (CoEs) for
automation and innovation, which are dedicated to developing proprietary solutions and
offerings based on emerging technologies
One of the flagship products of Microland is its integrated service management
platform, SmartCenterSM and is deployed on the cloud.
SmartCenterSM is a cornerstone of Microlands differentiated service delivery, focused
on enhancing customer experience
Developed in-house, it has an orchestration engine and predictive analytics capabilities
Cloud services and desktop virtualization services Microland helps its clients through
their cloud adoption journey by providing cloud advisory, design & build, migration,
integration & automation, and management services
Microland uses its proprietary now2cloud consulting framework to chalk suitable cloud
adoption roadmaps for its clients
Microland helps in building hybrid IT environments through its cloud integration &
automation services
13
Case study: Waste management NOC transformation

Client overview
Engagement
overview
Waste Managements (WM)

collaboration with a flexible
solution delivery partner like
Microland enabled the
implementation of a uniquely
customized and economically
sustainable Network
Operations Center (NOC)
solution.
Waste Management, Inc. (WM) is a leading North American provider

of integrated environmental solutions, including waste management,
recovery of valuable resources, and creation of clean & renewable
energy. WM has around 45,000 employees and serves over 20
million residential, industrial, municipal, and commercial customers.
Until three years ago, WMs network operation center (NOC) services
were being delivered primarily by an in-house team, with pre-defined
processes driving these services. The WM team, led by VP of
Infrastructure, Operations, and Client Services, Gautam Roy, outlined
a vision and roadmap to transform the IT function to be in line with
global standards, thereby achieving a higher degree of control over
operations and aligning the operations with business objectives.
The key objectives of this transformation included:
Introducing a stable and well-defined process framework that
allowed for:
Standardization of management tools and platforms
Proactive monitoring of tickets/ alerts to identify and mitigate
chokepoints, and
Complete process adherence
Consolidating and upgrading the set of tools and technologies
being used, for a holistic and real-time view of the IT operations
Acquiring a globalized skill set and talent base to drive the process
improvement
Via an agile, federated, multicountry operation model

enabled by standardized
technologies, and the
industrialization of global
processes we continue on our
commitment to excellent
customer satisfaction.
The scope of the engagement included managing more than 15,000

incidents covering more than 20 million customers on a round-theclock basis.
Partnered by Microland, the team at WM executed the transition with
minimum production risk, putting in place an ITIL-based service
delivery model that allowed for monitoring and troubleshooting of
application service maps based on criticality levels. WM conducted an
overhaul of processes, SLAs and real-time performance monitoring,
and developed SOPs for faster resolution of incidents. The
engagement followed a hybrid delivery model with an optimal mix of
resources at Microlands remote Command Center and onsite at WM
premises.
This transformation is aligned

with our business strategy and
provides a framework to reduce
risk and minimize the cost of
operational continuity.
Gautam Roy,
VP of Infrastructure,
Operations, and Client Services
Rationale for
selecting
Microland
Key benefits and

results
Post evaluating a wide array of service providers, WM chose to

engage Microland, considering the providers core focus and
credentials in the IT infrastructure services space. Given the scale and
urgency of the transformation process, WM wanted to partner with a
flexible service provider who could align itself with WMs vision,
showcase high levels of innovation and flexibility, and provide a costeffective model with global delivery capabilities.
EGR-2013-4-R-0952
Improved business services agility and availability of globally

distributed setup with ability to fix problems proactively &
effectively, thereby increasing customer satisfaction levels
Overall process improvement leading to improved business-IT
alignment
Standard processes and technologies have enabled WMs IT team
to support rapid business growth and adoption of next-generation
technologies in a seamless manner
14
NIIT Technologies: Company profile

Summary assessment: NIIT
Technologies has made
significant investments in building
its application development and
management service capabilities
(tools and frameworks, talent,
and vertical-specific solutions).
The company registered an
above industry-average growth
over 2009 to 2012. Focus on
verticals such as BFSI, travel, and
transportation & logistics, and
media which offer a high
potential for ADM services, is
expected to help the company
consolidate its position in the
market.
Company overview
NIIT Technologies is a Noida, India-based IT solutions and BPO services provider. The
company was spun off from NIIT Limited in 2004 and is publicly listed, with an annual
revenue of US$376 million in FY 2012. The customer base of NIIT Technologies is spread
across North America, Europe, Middle East, and APAC. NIIT Technologies has a industryspecific focus, with key focus verticals being BFSI, travel & transportation, and media.
Revenue
US$ million
30.5%
228
169
Employees
Headquarters: Noida, India
Revenue (FY ending March

2013): US$376 million
Leadership:
Arvind Thakur, Chief
Executive Officer and Joint
Managing Director
R S Pawar, Chairman &
Managing Director
Lalit Dhingra, President,
Americas
Pratibha Advani, Chief
Financial Officer
ISO 9001:2000
ISO 27001
SEI CMMi Level V version 1.2
Six sigma
COPC
ISO 20000 (datacenter
operations)
Delivery locations:
India (Ahmedabad,
Bengaluru, Kolkata, Chennai,
New Delhi, Hyderabad,
Mumbai, and Pune)
U.S. (various locations)
Europe (various locations)
APAC (various locations)
376
292
Established: Spun off from NIIT

Ltd. In 2004

8,158
CAGR
2009
2010
2011
2012
4,476
5,806
7,362
8,158
Services mix (as of December 2012)

Percentage
Application development &

maintenance (ADM)
Managed services
Assets and asset-based services
BPO
BPO
Assets and
asset-based services
Managed services
5%
21%
12%
62% ADM

NIIT Technologies focuses primarily on the North American and EMEA markets, with more
than three-fourths of the companys revenue generated from these regions. Key focus
verticals of NIIT Technologies include travel, transportation & logistics, and BFSI, which
together account for three-fourths of the companys revenue.
Industry mix (as of March 2013)
Percentage
Geographic mix (as of March 2013)

Percentage
India
APAC
(excluding India)
Media and healthcare
10%
15%
36%
EMEA
Government
North
39% America
11%
8%
Manufacturing
& distribution 6%
Travel,
transportation
38% and logistics
37%
BFSI
Website: www.niit-tech.com
EGR-2013-4-R-0952
15
NIIT Technologies: Key differentiators

Vertical expertise Travel and transport
Key highlights
Over 65 active clients

Customer segments include
airlines, travel & distribution,
surface transport, and cargo
Examples of proprietary offerings: Revenue accounts, operations, route profitability, cargo

ground handling, mCrew, and Travelmate
Specialized focus areas:
Platforms: TPF and USAS

Airlines: All functions
Travel distribution: GDS, OTA, and travel agents
Logistics: 3PL, warehouse & distribution, airport cargo terminal, and relocation logistics
Surface Transport: Roads and railways
Vertical expertise Insurance

Key highlights
Over 70 accounts
Coverage includes life &
health, non-life, annuity, and
pensions
Examples of proprietary offerings: IPF3, IFS, Subscribe, Exact, Tracs, and Acumen
Life and annuities

Platforms: LifeComm, Ingenium, LIDP, WMA, and Vantage
Property and casualty
Platforms: Genius, GWCC, and Duckcreek
Commercial & specialty insurance
Vertical expertise Banking and financial services

Key highlights
Over 20 accounts
Coverage includes end-to-end
solutions across capital
markets and cloud-based
solutions around core banking
and risk assurance
Asset & wealth management

Client management
Investment processing
Payments
Banking & capital markets BPO
Custody & treasury services
Pre-trade and post-trade compliance
Service expertise Application development and management services

Key highlights
Over 4,500 resources

Accounts for 63% of
companys global revenue
Competence centers include
multiple Technology Centre of
Competence (CoCs) and a
Technology Innovation Centre
(TIC) for R&D and Innovation
Key differentiators:
EGR-2013-4-R-0952
Strong technology expertise in Microsoft, Oracle, IBM, Open Source, and mainframe
platforms
Mature processes: SEI CMMi Level 5 Ver. 1.2, ISO 9001:2008, ISO 27001, PCMM Level
5, and ISO 20000
MATRIXTM: Knowledge management framework

InsightTM: Code comprehension tool
ASE2T: Testing accelerator
Other Frameworks: EnRiche, SOA, and Travel Mate
16
Case study: Tower Group DCT implementation Big enough, deep enough
Client overview
Engagement
overview
Tower Group is a leading U.S.-based provider of commercial,

personal, and specialty insurance and reinsurance products. Tower
Group has around 1,400 employees and operates through more than
15 subsidiaries. The company has gross premiums of about US$2
billion on an annual basis.
Tower Group had acquired the personal line of business in 2010, and
was incurring annual expenses in maintaining the personal lines book
of business on legacy systems. Tower Group wanted to transform and
grow the business successfully. Building a world class technology
platform was critical towards achieving this vision.
With the implementation of the Duck Creek Technologies (DCT)
insurance platform for the personal line of business, a rapid time to
market was required to integrate the book of business from an
acquisition, in addition to establishing a significant business segment
for organic growth.
Tower Group called upon NIIT Technologies to revamp the incumbent
processes being used to support Tower Groups business lines. This
included:
Full lifecycle implementation of DCT Platform for the personal and
commercial lines of business
Renewal and conversion of personal lines book of business legacy
platform
Tower Group partnered with NIIT Technologies through a
collaborative model, with the project being managed by Tower
Group, and the offshore team at NIIT Technologies acting as an
extended implementation arm. The engagement was started in 2010,
with the DCT platform for the personal line of business built within
one and a half years. The scope of the engagement has so far
included the expansion and multi-state rollout of the personal lines
platform, and the successful execution of a full-cycle SDLC initiative.
Rationale for
selecting NIIT
Tech
Tower Group chose to engage NIIT Technologies, considering the

providers proven expertise in the personal and commercial insurance
business space, its mature capabilities in handling DCT
implementations, and driving end-to-end SLDC projects, as well as its
experience in new product implementation with high speed-to-market
and reduced time-to-market.
Tower Group perceived NIIT Technologies to be a highly flexible and
proactive partner, while being big enough and with the right skillsets to deliver the desired outcome. The quality staffing and services
provided by NIIT Technologies have ensured that this 100+ peoplestrong engagement is expected to continue over the coming years.
Key benefits and

results
EGR-2013-4-R-0952
Quality management process improvement achieved through the

implementation and expansion of DCT platform
Reduced time-to-market resulting in improved client satisfaction
and positive business impact
Ready availability of a skilled, global resource pool for Tower
Groups resourcing needs with the right technology and domain
mix
17
Polaris Financial Technology Limited: Comany Profile

Summary assessment: Polaris has
established itself as a highly
credible mid-sized IT service
provider and is one of the
leading players in the BFSI space.
Polaris has managed to penetrate
many leading global clients in the
BFSI sector through a customercentric approach, innovation,
and a broad array of offerings
that cut across various functions
of the clients businesses. Polaris
continues to strongly invest in
developing forward-looking FT
solutions and is well-positioned to
further strengthen its position in
the BFSI vertical.
Company overview
The largest among the showcased mid-sized service providers, Polaris, is a Chennai, Indiabased provider of financial technology services, products, and consulting. The company was
founded in 1993 and is publicly listed, with an annual revenue of US$426 million in FY
2012. Polaris has operations across North America, EMEA, and APAC, and has established
itself as one of the leading technology and services providers in the financial sector. While
Polaris has a strong focus on developing financial technology products, it has recently
restructured its business to create independent business lines for products and services, each
with strong leadership teams.
Revenue
US$ million
14.2%
286
Established: 1993
Employees
Headquarters: Chennai, India

Revenue (FY ending March 2013):
US$426 million

13,076
Leadership:
Arun Jain, Chairman and
Chief Executive Officer
Govind Singhal, Chief
Operating Officer
Natarajan Narayanasamy,
Chief Financial Officer
Jitin Goyal, CEO, Services
Manish Maakan, CEO,
Global Transaction Banking
Jaideep Billa and Venkatesh
Srinivasan, Joint CEOs, Core
Banking & Treasury and
Capital Markets
Pranav Pasricha, CEO,
Insurance Product
ISO 9001
CMMi Level V
ISO/IEC 20000
BS 7799
CAGR
428
426
348
2009
2010
2011
2012
9,512
10,974
12,886
13,076
Service mix (as of Mar 2013)

Percentage
Financial Technology Sourcing

(application development, maintenance,
and testing)
Financial Technology Intellect (license,
professional services, support &
maintenance, and system integration)
BPO services
Financial Technology
Intellect
23%
BPO 1%
76%
Financial
Technology
Sourcing

Polaris focuses primarily on Americas for its FT sourcing offerings; uptake of FT technology
offerings is spread across different geographies. Polaris has a specialized focus on the BFSI
sector, providing a broad array of services around financial technology.
Geographic mix (as of Mar 2013)
Percentage
FT Sourcing
FT Intellect
Americas
Rest of the World

18%
19%
India 6%
Rest of the World
43%
53% Americas
Europe
22% Europe
23%
16%
India
Delivery locations:
India (Chennai, Hyderabad,
Mumbai, Pune, Gurgaon, and
Bengaluru)
U.S. (New Jersey)
Canada (Toronto)
Chile (Santiago)
Northern Ireland (Belfast)
Singapore and Australia
(Sydney)
Website: www.polarisft.com
EGR-2013-4-R-0952
Industry mix1 (as of Mar 2013)

Percentage
Insurance and others
11%
Retail banking
20%
Corporate banking 29%

40%
Treasury and
capital markets
1 The industry split provided corresponds only to FT Sourcing
18
Polaris FT: Key differentiators

Vertical expertise Banking, financial services, and insurance
Polaris has a dedicated focus on developing products, and providing services & consulting for the BFSI vertical
It has partnered with nine of the top ten global banks and seven of the ten top global insurance companies
Key differentiators/capabilities
Focus on innovative future

solutions developed at the
dedicated research and
innovation center, FT8012
A comprehensive framework
called COPARIS that helps
banking clients gauge application
efficiencies, leading to enhanced
customer experience
Master Process Exchange (MPX)
framework for knowledge
management that acts as a bridge
between business and technology
functions
Project Management Exchange
(PMX) for project design, delivery
and diagnostics
OCTOPUS Workplace
Technology A web based smart
enterprise portal designed based
on social and collaboration
framework

Polaris has four distinct service categories for its customers:
Global Sourcing and Managed services
Application services including development, testing, and maintenance
Services offered through Strategic Relationships and Delivery Units (SRDU) dedicated for each
account, and leveraging global centers of excellence
Polaris Advanced Financial Technology Group
Product development for banking and insurance sectors using SOA technology
Consulting Services
Business process mapping & wiring services, and enterprise architecture consulting services
(focused on building business technology strategies) for banks
Identification of customer preferences and relevant distribution channels for insurance
companies
Financial technology infrastructure
Through this service line, Polaris offers an end-to-end infrastructure solution (FT Grid) for banks
and financial institutions
Includes desirable features such as virtualization, scalability, global coverage, round-the-clock
support, localization, and information security
Focus on innovative future solutions FT8012: Polaris has established the FT8012 facility, a research
and innovation hub for financial technology, a first of its kind globally. Polaris claims that the
significance of this nomenclature (FT8012) is that all Financial Technology innovations happen from
this point on earth. The center is designed based on ADEA or Absorb, Engage, Discover, Enable
principles and is responsible for developing solutions for the banking sector that are based on reduced
complexity and designed in line with the COPARIS framework.
COPARIS framework: Polaris has established a comprehensive framework called COPARIS that helps
banking clients to assess the efficiencies of their applications, thereby leading to an enhanced
customer experience. COPARIS is based on seven core attributes:
Customer experience
Operational excellence and workflow simplicity
Performance and technology optimization
Analytics for smart decision-making
Risk management
Integration
Security
Master Process Exchange (MPX) framework: Polaris has developed the MPX framework for the banking
sector which involves functional decomposition of business processes (solutions and services), and a
deep-dive analysis of the complexities associated with the business. The framework facilitates effective
knowledge managament, and acts as a bridge between business and technology functions.
Project Management Exchange (PMX): Polaris has developed project management platform integrating
schedule planning, resource and cost planning, defect management, scope and change management,
metrics management, process management, early warning and risk management. This platform also
enables real-time status updates
Extreme Execution D-3 OTIF (On Time In Full): One of Goldratt's manufacturing principles is
innovatively adapted to drive delivery efficiency through on-time and accurate execution of customer
delivery milestones. Successful on time delivery prompted Polaris to exceed customer expectations
through early delivery or D-3 OTIF. Currently 95% of Polaris projects are delivered on time and 17%
are delivered early
OCTOPUS Workplace Technology: Polaris has designed and developed a workplace technology to
enable sales, execution, employee engagement and knowledge efficiency of enterprises. The
technology is an integrated workspace that provides constructive and effective collaboration through
an innovative use of social media widgets to efficiently influence key enterprise entities (projects,
customer accounts, people, processes, information, and knowledge). OCTOPUS acts as:
A project collaboration, tracking & management platform, providing a single source of truth across
projects
An account collaboration and management platform for improved customer retention through
cross-sell and up-sell
An integrated employee alignment platform that allows for effective collaboration of people across
different teams by forming knowledge and problem solving circles, and common interest circles
A complete repository of enterprise information
EGR-2013-4-R-0952
19
Case study: Experts for financial services

Client overview
Engagement
overview
Rationale for
engaging with
Polaris FT
Headquartered out of the United States, the client is one of the

worlds top five financial services organizations in the world. It has
assets of over US$1 trillion, and manages operations in over 150
countries around the world.
Polaris FT has a long-standing history with the client, and is engaged
in a number of initiatives related to maintenance and support of
mission- critical banking and trading platforms, as well as the
development of new applications and technology solutions. Polaris
FTs involvement encompasses a number of key processes in back-,
middle-, and front- offices, including trading, settlement, and risk
management. Over time, Polaris FT has been involved in upgrading
of existing platforms, as well as replacing them with new platforms
and solutions this has a strong impact on the operational
performance of the bank.
Polaris FT has successfully differentiated itself as a mid-sized provider
on account of its:
Key benefits and

results
Depth of specialization As a specialized provider of technology

services to the financial services community, Polaris FT brings
considerable wealth of domain expertise to the client relationship.
This is recognized by the following relationship traits and value
drivers:
Polaris FTs above-average ability to translate business
requirements to technology terms
Polaris FTs ability to solution effectively, which often leads to
lower costs
The quality of staff that Polaris FT offers across onsite and
offshore delivery teams. On many occasions, Polaris FT teams
are not only able to address complex issues effectively the first
time, but also guide the client teams through them
Flexibility in relationships Polaris FT is perceived to be highly
flexible in its relationship with the client. Communication is typically
seamless and responsive, and the first point of contact is usually an
account executive who not only understands the domain, but can
also promptly facilitate the necessary action
Technology services in the banking and financial services world can

form the backbone of business success. Polaris FT has been able to
manage mission-critical technology platforms, and not only keep
them in shape, but also drive large upgrade operations, and suggest
improvements.
This has resulted in smooth operations for the bank across vital
processes. The relationship with Polaris FT has itself expanded across
different parts of the organization.
EGR-2013-4-R-0952
20
Conclusion: Implications for Buyers and Service Providers

Several mid-sized Indian service providers seem to have caught the right pulse
by looking to create differentiated value propositions, and positioning
themselves as best-of-breed service providers within their specific focus areas.
Given the evolving IT offshoring landscape, where cost arbitrage and scale
alone no longer remain the underlying value drivers, this differentiated
positioning has resonated well with buyers, both large and small enterprises
alike. However, the dynamic set-up of the IT offshoring landscape holds some
key implications which both global sourcing buyers and service providers need
to be aware of.
Implications for global sourcing buyers
Recognize the importance of the mid-sized Indian service providers and the
value they can potentially bring to the table within the outsourcing portfolio.
Identify specific scenarios, where mid-sized providers can add value by
virtue of their specialized capabilities
Invest the requisite time and effort to evaluate and identify the right midsized service providers that align with portfolio objectives
Define clear and realistic roles for mid-sized service providers that optimally
leverage their capabilities and specialized offerings to obtain the desired
sourcing outcomes
Proactively track service provider performances, and design plans to prevent
possible service delivery disruption due to potential consolidation and M&A
in the mid-provider segment
Implications for Indian mid-sized service providers
Recognize the need for differentiation and specialization as critical factors

for success; generic positioning often leads to credibility erosion due to
questions related to size and process maturity
Remain proactive in identifying new segments/service lines that hold
potential for growth, and constantly reevaluate existing portfolios to identify
core offerings / focus segments that will drive differentiation
Invest in targeted marketing and branding initiatives, and remain aggressive
in building recognition and brand-recall with global buyers, especially within
areas of specialization
Invest in building solutions that leverage emerging technologies that could
provide a differentiated positioning, specifically amongst large buyers
looking for state-of-the-art solutions
This research report was funded in part by Hexaware, Microland,

NIIT Technologies, and Polaris Financial Technology
EGR-2013-4-R-0952
21
About Everest Group

Everest Group is an advisor to business leaders on next generation global
services with a worldwide reputation for helping Global 1000 firms dramatically
improve their performance by optimizing their back- and middle-office business
services. With a fact-based approach driving outcomes, Everest Group counsels
organizations with complex challenges related to the use and delivery of global
services in their pursuits to balance short-term needs with long-term goals.
Through its practical consulting, original research and industry resource
services, Everest Group helps clients maximize value from delivery strategies,
talent and sourcing models, technologies and management approaches.
Established in 1991, Everest Group serves users of global services, providers of
services, country organizations, and private equity firms, in six continents across
all industry categories. For more information, please visit www.everestgrp.com
and research.everestgrp.com.
For more information about Everest Group, please contact:

+1-214-451-3110
info@everestgrp.com
For more information about this topic please contact the author(s):
Jimit Arora, Vice President
jimit.arora@everestgrp.com
Chirajeet Sengupta, Practice Director
chirajeet.sengupta@everestgrp.com
Ashwin Venkatesan, Senior Analyst
ashwin.venkatesan@everestgrp.com
EGR-2013-4-R-0952
22

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2013

AN EVEREST GROUP REPORT

Mid-sized Indian Service Providers: Stepping Up in

Jimit Arora, Vice President

MID-SIZED INDIAN SERVICE PROVIDERS: STEPPING UP IN CHANGING TIMES

Dimensions for differentiation of mid-sized service providers

Fact-based snapshots, including details on the differentiated foundations for

Implications for buyers and service providers

MID-SIZED INDIAN SERVICE PROVIDERS: STEPPING UP IN CHANGING TIMES

Winds of Change in the Global IT

Winds of Change in the Global IT Services Market

Value drivers IT offshoring

Emerging value drivers

Source: Everest Group

MID-SIZED INDIAN SERVICE PROVIDERS: STEPPING UP IN CHANGING TIMES

The search for new value drivers

Innovation: Clients expect IT outsourcing service providers to not just act as

India Continues to Lead the Transforming IT Offshoring

MID-SIZED INDIAN SERVICE PROVIDERS: STEPPING UP IN CHANGING TIMES

Indian offshore IT services

Global IT sourcing market size

Indian IT service exports provider landscape

Source: NASSCOM 2013

Mid-sized players have made strides

MID-SIZED INDIAN SERVICE PROVIDERS: STEPPING UP IN CHANGING TIMES

Mid-sized Service Providers Increasingly Relevant across

Differentiated Value Proposition of Mid-sized Service

MID-SIZED INDIAN SERVICE PROVIDERS: STEPPING UP IN CHANGING TIMES

Differentiated value propositions

Source: Everest Group

Specialized offerings for,

Offerings revolving around

IT services or products built

Differentiating Value Propositions of Showcased Service

Scale and growth of featured

mid-sized service providers

Source: Everest Group

Note: Microland does not report revenue as it is a privately-held firm

MID-SIZED INDIAN SERVICE PROVIDERS: STEPPING UP IN CHANGING TIMES

The potential of these mid-sized service providers is underscored by the kind of

Differentiating value proposition

of featured service providers

Banking & capital

Source: Everest Group

Service expertise Microland is one of the pioneers of remote infrastructure

NIIT Technologies has established itself as a highly credible

Polaris FT has established itself as a specialized IT service

The following pages provide an overview of these four mid-sized service

Microland (Page 12)

NIIT Technologies (Page 15)

Polaris FT (Page 18)

MID-SIZED INDIAN SERVICE PROVIDERS: STEPPING UP IN CHANGING TIMES

Hexaware: Company profile

Headquarters: Mumbai, India

Revenue (FY ending December

Key service offerings

Services mix (as of December 2012)

Application Development & Maintenance

Key business segments

Industry mix (as of December 2012)

MID-SIZED INDIAN SERVICE PROVIDERS: STEPPING UP IN CHANGING TIMES

Hexaware: Key differentiators

1) Airline passenger services