XT Global Infotech is an Indian IT services company that has spent nearly four decades reinventing itself through each technology cycle, most recently by acquiring its way into the US market and building a proprietary accounts-payable platform called Circulus. What began as Frontier Informatics in 1986 is today a publicly traded firm with over 600 professionals across India and the US, anchored by a simple, recurring approach: use deep customer relationships and contextual knowledge to run the finance and accounting operations of Western enterprises, then sell them the digital tools to automate those operations further. That twin-engine model - outsourcing services on one side, cloud and automation software on the other - explains everything else the company does. # Business segments Two engines that feed each other - a finance and accounting outsourcing business built on a proprietary AP automation platform, and a digital IT services practice that sells cloud, automation and enterprise-application work to the same kind of client. ## 1. Finance & Accounting Outsourcing: running the back office for Western companies **XTGlobal takes over the accounts-payable, receivables, payroll and HR processing of US and international clients, using its own Circulus software as the factory floor.** - **A platform-first outsourcing model** - the division is built on Circulus, a cloud-based accounts-payable automation tool that extracts invoice data, matches purchase orders, routes approvals and processes payments, which means XTGlobal is selling a technology-enabled service, not just warm bodies. - **One platform, two revenue streams** - Circulus is both the engine inside the outsourcing contracts and a software product sold on its own to enterprises and smaller businesses that want to automate AP without handing over the whole function. - **The US accountant shortage is a tailwind** - American companies facing restrictions on hiring skilled accountants domestically are shifting finance and accounting work offshore to India, and XTGlobal is positioned to capture that demand. - **Land-and-expand in English-speaking markets** - the division has long-term contracts with global clients, and it has added its first engagements in Australia and Ireland, the latter a dedicated offshore finance-support team covering management accounts, AP supervision, employee onboarding and HR administration. - **AI is tightening the extraction engine** - the company has been integrating machine learning into the optical character recognition layer of Circulus, aiming to improve data-extraction turnaround times; one Fortune 1000 insurance broker used the platform to hit 99.5% accuracy across roughly 10,000 vendor invoice templates and eliminated manual data entry entirely. ## 2. Digital IT Services: cloud, automation and enterprise-application work **A mid-tier IT services practice built on Oracle and Microsoft ecosystems, robotic process automation and low-code platforms, delivered through flexible offshore and managed-services models.** - **Three-platform stack** - the Oracle practice covers cloud applications, E-Business Suite and analytics; the Microsoft practice spans Dynamics 365, Power Platform and Azure; and the RPA practice works with UiPath and Automation Anywhere, giving the company a multi-vendor toolkit rather than a single-vendor dependency. - **Sold by the project, the team or the outcome** - engagement models range from time-and-materials and fixed-bid projects to managed services and a “BOLT” model where XTGlobal builds and operates an offshore delivery centre that the client can eventually take over, with one toll-solutions client cutting its total cost of ownership by 60% and development time by half. - **The H-1B visa is not the constraint** - with fewer than 25 employees on H-1B visas, the company pitches its India-based Global Delivery Centre as a way for US clients to sidestep their own immigration headaches, not share them. - **Clients are mid-market and Fortune 1000, across unglamorous but steady industries** - banking, healthcare, tolling, ticketing, telecom, real estate, insurance, manufacturing and retail, with recent engagements including a law association, a packaging firm, a battery manufacturer and a healthcare tech provider. - **Australia is the new beachhead** - the company commenced operations in Australia to tap demand for digital and IT services, adding a third geography alongside the US and India. # Group structure and partners **XTGlobal is an Indian parent with two US subsidiaries, one of which was acquired in stages through all-stock deals, and it leans on a network of technology-platform partnerships rather than building everything itself.** - **Network Objects Inc. - the US foothold bought with shares** - XTGlobal acquired a 44.33% stake in the Texas-based IT solutions provider in December 2021 through an all-stock share swap, then bought another 7% for USD 700,000 in cash in January 2025 to take majority control at 51.33%, making it a subsidiary. - **XTGlobal Inc. - the wholly owned US arm** - a separate US subsidiary that provides and receives services with the Indian parent, giving the group an onshore presence for client engagement and delivery. - **The Xenosoft merger - the acquisition that reshaped the company** - the Indian subsidiary Xenosoft Technologies was merged into XTGlobal effective 22 December 2021, a move that had earlier given the company its leverage in the AP automation market and added significant infrastructure and headcount. - **Partner ecosystem - Oracle, Microsoft, UiPath, Automation Anywhere, Mendix and AWS** - the company holds Microsoft Gold Partner status for cloud solutions and is an Oracle Service Partner for Finance, HCM and PPM, while also partnering with the two major RPA platforms and the low-code provider Mendix. - **More deals on the radar** - the company is in preliminary discussions to acquire businesses in similar lines of work or in different geographies, and in January 2026 entered a term sheet for a proposed acquisition of a business in an entity.