Revenues and Accounts Receivable (Tables)

3 Months Ended

Jun. 30, 2020

Revenues and Accounts Receivable

Schedule of disaggregation of revenue

	Three Months Ended
	June 30,
Revenue by geography:	2020		2019
North America	$	224,322	$	230,480
Europe		50,424		63,080
Rest of World		26,318		25,464
Consolidated revenue	$	301,064	$	319,024

	Three Months Ended
	June 30,
Revenue by customer’s industry groups	2020		2019
Banking Financial Services and Insurance	$	165,573	$	183,202
Communications and Technology		72,364		70,066
Media & Information and Other		22,330		19,153
Healthcare		40,797		46,603
Consolidated revenue	$	301,064	$	319,024

	Three Months Ended
	June 30,
Revenue by service offerings	2020		2019
Application outsourcing	$	162,420	$	181,963
Consulting		138,644		137,061
Consolidated revenue	$	301,064	$	319,024

	Three Months Ended
	June 30,
Revenue by contract type	2020		2019
Time-and-materials	$	176,718	$	189,899
Fixed-price*		124,346		129,125
Consolidated revenue	$	301,064	$	319,024

*Fixed-price includes both retainer-billing basis and fixed-price progress towards completion

Schedule of movements in contract assets and deferred revenue balances

The table below shows the movements in contract assets during the three months ended:

	June 30, 2020		June 30, 2019
Beginning balance	$	14,241	$	18,538
Revenues recognized during the period but not yet billed		18,369		20,859
Amounts billed		(19,068)		(20,594)
Other		(6)		(65)
Ending balance	$	13,536	$	18,738

Contract liabilities comprise of amounts billed to customers for revenues not yet earned. Such amounts are anticipated to be recorded as revenues when services are performed in subsequent periods.

The table below shows movements in the deferred revenue during the three months ended:

	June 30, 2020		June 30, 2019
Beginning balance	$	8,054	$	6,421
Amounts billed but not yet recognized as revenues		5,930		4,123
Revenues recognized related to the opening balance of deferred revenue		(3,512)		(3,495)
Other		351		25
Ending balance	$	10,823	$	7,074

Schedule of allowance for credit losses on accounts receivable

	Three Months Ended
	June 30, 2020
Balance at March 31, 2020	$	1,541
Transition period adjustment on accounts receivable pursuant to ASC 326		—
Adjusted balance at April 1, 2020		1,541
Current-period provision for expected credit losses		71
Write-offs charged against the allowance		(218)
Foreign currency translation adjustments		7
Balance at June 30, 2020	$	1,401