Kanbay Software India: Made in India, Billed in US

This first timer into the DQ Top50 club was one of the earliest American
software services companies to set up an offshore location in India in 1991. In
FY 2005, the Indian development centers in Pune, Hyderabad and Chennai
constituted 80% of Kanbay's manpower globally, and contributed nearly half its
revenues.

What helped Kanbay in 2004-05 was its singular focus on the financial
services domain-to that end, it exited its security and connectivity business in
Australia (sold off to Loop Technology) and also acquired Accurum for $12 mn to
augment its traditional strengths in banking, credit cards and credit-related
activities. Post acquisition, Kanbay ended the year with 52 active
clients-Household International and its affiliates within HSBC, was the biggest,
contributing 55%, followed by Morgan Stanley.