I worked at Xchanging full-time (less than an year)
Pros
Salary is quite competitive
If you are looking for challenges in everyday work, this is a good place for you
Cons
No MNC culture
Driven by the Client
Lack of processes makes it very random
Advice to Management
Mature organizations must have structure, processes and clearly defined roles. Cannot sustain a company long term by just doing whatever the client asks.