20. Revenue

Disaggregation of revenue

In the following tables, revenue is disaggregated by service type, major industries serviced, contract type and geography.

Revenue by service type


	Year ended March 31,
	2019		2018		2017
Industry-specific	$	307,214	$	258,155	$	170,212
Customer interaction services		183,199		193,427		168,096
Finance and accounting		175,194		162,432		124,089
Research and analytics		91,716		89,402		79,948
Auto claims		34,885		35,414		44,642
Others		16,912		19,127		15,559

Total	$	809,120	$	757,956	$	602,546

Revenue by industry


	Year ended March 31,
	2019		2018		2017
Insurance*	$	215,242	$	194,593	$	178,196
Diversified businesses including manufacturing, retail, CPG, media and entertainment, and telecom		142,091		137,049		105,325
Travel and leisure		140,996		142,091		128,051
Healthcare		124,109		111,593		40,814
Utilities		56,334		66,030		56,059
Shipping and logistics		49,858		33,922		25,638
Consulting and professional services		44,142		39,683		41,876
Banking and financial services		36,348		32,995		26,587

Total	$	809,120	$	757,956	$	602,546

*	Includes revenue disclosed under the Auto Claims BPM segment in Note 28.

Revenue by contract type


	Year ended March 31,
	2019		2018		2017
Full-time-equivalent	$	522,436	$	473,898	$	432,919
Transaction*		137,219		141,617		106,352
Subscription		66,542		58,916		2,139
Fixed price		42,512		39,788		27,375
Others		40,411		43,735		33,761

Total	$	809,120	$	757,956	$	602,546

*	Includes revenue disclosed under the Auto Claims BPM segment in Note 28.

Revenue by geography

Refer Note 28 — External revenue.

Contract balances

As at April 1, 2018, the Company capitalized $6,821 towards incremental costs incurred for acquiring contracts that were not completed. The capitalized costs will be amortized on a straight-line basis over the expected life of the contract.

The movement in contract assets during the year is as follows:


	As at
	March 31, 2019
	Sales Commission			Transition activities			Upfront payment / Others			Total
Opening balance	$	—		$	3,038		$	3,202		$	6,240
Impact on adoption of IFRS 15		6,821			201			359			7,381

		6,821			3,239			3,561			13,621
Additions during the year		3,182			11,507			6,533			21,222
Amortization/recognition during the year		(1,185	)		(1,120	)		(4,844	)		(7,149	)
Impairment loss recognized during the year		(508	)		—			—			(508	)
Translation adjustments		(279	)		(215	)		(465	)		(959	)

Closing balance	$	8,031			13,411			4,785			26,227

The movement in contract liabilities during the year is as follows:


	As at
	March 31, 2019
	Payments in advance of services			Advance billings			Others			Total
Opening balance	$	1,107		$	2,106		$	266		$	3,479
Impact on offset with trade receivables and unbilled revenue		115			4,345			793			5,253

Gross opening balance		1,222			6,451			1,059			8,732
Impact on adoption of IFRS 15		64			—			—			64

		1,286			6,451			1,059			8,796
Additions during the year		11,175			44,940			11,861			67,976
Revenue recognized during the year		(2,918	)		(39,927	)		(12,075	)		(54,920	)
Translation adjustments		(109	)		(351	)		(83	)		(543	)

Gross closing balance		9,434			11,113			762			21,309
Impact on offset with trade receivables and unbilled revenue		(2,255	)		(6,379	)		(639	)		(9,273	)

Closing balance	$	7,179		$	4,734		$	123		$	12,036

The estimated revenue expected to be recognized in the future relating to remaining performance obligations as at March 31, 2019 is as follows:


	As at March 31, 2019
	Less than 1 Year		1-2 years		2-5 years		More than 5 years		Total
Transaction price allocated to remaining performance obligations	$	15,635	$	10,182	$	1,906	$	—	$	27,723

The Company does not disclose the value of unsatisfied performance obligations for:

(i)	contracts with an original expected length of one year or less; and

(ii)	contracts for which the Company recognizes revenue at the amount to which the Company has the right to invoice for services performed.