Revenues, net

12 Months Ended

Dec. 31, 2019

Revenue from Contract with Customer [Abstract]

Refer to Note 3 to the consolidated financial statements for revenues disaggregated by reportable segments and geography.

Contract balances

The following table provides information about accounts receivable, contract assets and contract liabilities from contracts with customers:



	As of
	December 31, 2019		December 31, 2018
Accounts receivable, net	$	171,864	$	164,752
Contract assets	$	5,391	$	5,445
Contract liabilities:
Deferred revenue (consideration received in advance)	$	11,259	$	6,345
Consideration received for process transition activities	$	3,036	$	1,669

Accounts receivable includes $73,920 and $63,952 as of December 31, 2019 and 2018, respectively, representing unbilled receivables. The Company has accrued the unbilled receivables for work performed in accordance with the terms of contracts with customers and considers no significant performance risk associated with its unbilled receivables.

Contract assets represents upfront payments in nature of deal signing discount or deal signing bonuses made to customers. These costs are amortized over the expected period of benefit and are recorded as an adjustment to transaction price and reduced from revenues.

Contract liabilities represents that portion of deferred revenue for which payments have been received in advance from customers. This may also include revenues deferred for certain contracts where services have been rendered but other conditions for revenue recognition have not been met for e.g. legally enforceable contract is not executed. The Company also defers revenues attributable to certain process transition activities for which costs have been capitalized by the Company as contract fulfillment costs. The contract liabilities are included within “Deferred revenues” and “other non-current liabilities” in the consolidated balance sheets. The revenues are recognized as (or when) the performance obligation is fulfilled under the contract with customer.

Revenue recognized during the year ended December 31, 2019 that was included in the contract liabilities balance at the beginning of the period was $6,077 and revenue recognized during the year ended December 31, 2018 that was included in the contract liabilities balance at the beginning of the period was $9,147.

Contract acquisition and fulfillment costs

The following table provides details of the Company’s contract acquisition and fulfillment costs:



	2019						2018
	Contract acquisition cost			Contract fulfillment cost			Contract acquisition cost			Contract fulfillment cost
Balance as of January 1	$	713		$	4,051		$	454		$	2,769
Addition	1,222			4,652			567			2,216
Amortization	(628		)	(1,448		)	(308		)	(934		)
Balance as of December 31	$	1,307		$	7,255		$	713		$	4,051

There was no impairment loss in relation to costs capitalized. The capitalized costs are amortized on a straight line basis over the life of the contract.

Consideration received from customers, if any, relating to such transition activities are classified under Contract Liabilities and are recognized over the period in which the related performance obligations are fulfilled.