Rank - 38 : Polaris Software : Third World Champion

Though its former parent still accounted for more than 40% of its revenue,
Polaris is steadily shedding its image as a Citi-plus company and repositioning
itself as an integrated products and services solutions provider. Products
already contribute 23% to its overall revenue. While it claims that four of the
top ten banks in the world are customers for its Intellect Suite. After the
LaserSoft acquisition, it is now betting on newer markets for growth. Emerging
markets already account for 8% of its revenues. But, the differentiating
strategy for Polaris is the proactive targeting on third world countries where
it already has twenty-two partners and is planning to double that number this
year. It won two deals in Vietnam, one in Chile and one in Egypt and is using
these countries as its low-cost hubs.

In India Laser Soft has a footprint in almost all nationalized banks. Now, it
is targeting the coop/rural banks, and has signed a deal to implement Intellect
in Andhra Pradesh State Coop Bank and twenty-two district coop banks. It also
had success in newer segments like retail and insurance.