THE MAN WHO MOVED FROM A SUCCESSFUL CFO ROLE TO PIVOT GI OUTSOURCING TOWARDS IMMENSE GROWTH

In his 25-year career, Vikas has guided prestigious MNCs including Berggruen Hotels (Keys Hotels), Bharti Airtel, Thomas Cook, Ampersand Education, Marico Ltd, Tata Global, and Mahindra & Mahindra Group with a tireless pursuit of excellence. Following the completion of his Chartered Accountancy in 1996, Vikas was given the fantastic opportunity to work for Tata Global Beverages, where his extensive exposure to the highest standards of customer service, customer centricity, and delivering quality, integrity, and ownership proved to be his greatest strength.

With a team of about 300 people, including Chartered accountants and ACCAs, the organization has had a presence in India for more than 20 years.

GI OUTSOURCING- THE COMPANY

GI Outsourcing, a pioneer in account outsourcing and provider of a complete accounts outsourcing service, was established in 1999. To meet the needs of the consumer, it creates specialized service packages. The company’s main services include accounting, management accounts, smart services, statutory accounts, payroll taxation, IT software, virtual CFO, controller-ship, and GI Cloud consulting, with a focus on the hotel, legal, recruitment, property, and healthcare sectors.

By improving others’ working lives through    improved efficiencies, automation, and knowledge, GI seeks to become a truly Global Interconnected solutions provider, carrying out its ambition to transform the way conventional outsourcing operates. By fostering an inventive culture within the company, the company aims to turn its least profitable client into a profitable one.

BIGGEST CHALLENGES THAT VIKAS HAD TO OVERCOME WHILE LEADING GI AND THE GAME-CHANGING DECISIONS HE TOOK

Vikas joined the company in 2020, a tough time for almost all the CEOs in the world to navigate during the unprecedented crisis. Additionally, GI was looking for a leader who could spearhead the company to the next level of growth.

A proven business leader, Vikas quickly figured out the secret sauce for spearheading GI to the next level and focused on two key aspects- the business model and work culture by binding them with customer-centricity. 

Secondly, GI shifted its focus heavily on quality, and innovation along wand its conscious expansion in our service offerings at different locations in India including Ahmedabad, New Delhi, and Mumbai.

Introducing a performance-led work culture in the organization that continuously encourages, recognizes, and rewards motivated team members to be the best versions of themselves.

Today, GI has evolved into a trusted strategic partner  for its clients.

THE RISE IN GLOBAL MARKET DEMAND FOR ACCOUNTING SERVICES IN INDIA

According to studies, the global market for finance and accounting outsourcing is anticipated to be worth $53.4 billion and increase at a CAGR of 5.9% in 2026, making it one of the fastest-growing BPO areas. India has the greatest pool of qualified and skilled accountants, bookkeepers, and skills, making it an attractive KPO location for finance and accounting.

Global accounting firms are looking at India for their niche accounting services such as business transformation and advisory – bookkeeping, management accounts, smart services, statutory accounts, payroll taxation, IT software, and sophisticated offerings, virtual CFO, controllership. Interestingly surveys also indicate that India’s outsourcing sector contributes to more than 50% share of the worldwide bookkeeping outsourcing service.

THE CLIENT BASE

With an experience of more than two decades, GI has established itself as the preferred partner for top accounting firms and leading enterprises across sectors in Europe, Canada, and leading geographies around the world.

GI’s working style is more agile, and adaptive which helps to meet the requirements. Having a customer-centric approach based on future requirements where we provide upgrade service while keeping the price fixed helped us increase our customer base.

This unique approach has helped us immensely as 65% of our turnover is based on referrals – a reflection of the high esteem within which we are held.

THE MOST DIFFICULT TASK OF BEING IN THIS INDUSTRY

The search for the right talent with a perfect mix of a deep accounting and finance background coupled with deep technological capabilities is challenging. But to overcome the challenge company has introduced several mentorship programs, training, and upgrading courses so that GI can have more seasoned and expert talents in the team.

GI OUTSOURCING – EMPLOYEE-FOCUSED ORGANIZATION

Long hours and constant pressure are requirements of the accounting profession; therefore, companies place a strong priority on employee well-being to assist staff in reducing chronic workplace stress. The introduction of several employee-focused and centric initiatives like    Awards and Recognition (GI Gladiator Awards), Learning and Development for the upskilling of employees, the mentorship program, and Coffee with   the MD for an open discussion with MDs sharing         their experience are all results of GI implementing a performance-led culture.

Employee Well-being Initiatives in the form of Yoga and mental well-being sessions by leading experts are organized. The company always encourages teams to celebrate important milestones, achievements, accolades, birthdays, and anniversaries and organizes team      picnics, while welcoming the new GIITIANS who joined   in company. The celebration also includes Women’s Day, Employee birthdays, Ganesh Chaturthi, Navratri, Christmas, and team excursions.

GI Outsourcing has witnessed incredible growth during the pandemic and has expanded to several new cities in India; Delhi NCR, Ahmedabad, and Mumbai. GI has focused on recruiting the right talent by creating a great employee experience.

GI Outsourcing is committed to driving gender diversity and inclusion.  As a result,59% of their workforce comprised women working at all levels. The conscious effort of the management has been always there to bring women employee-friendly policies and programs that provide holistic support.

GI has also launched the connected workplace program which has hybrid models of working for the qualifying staff which has helped give flexibility and increase employee satisfaction.

GI’s efforts have been consistently recognized at prestigious forums and awards- as the “Dream Company to work for “by Times Ascent and World HRD Congress consecutively for two years, Maharashtra State Best Employer Brand Awards 2022 for being a leading brand in the space of Finance &Accounting Outsourcing and Consulting, we recently named among the top 100 Great People Managers in India by Great Manager Institute®?.  Our leadership teams in India and UK have been proactively working to make this a big differentiator and area of strength at GI Outsourcing.

FUTURE ENDEAVORS

GI has witnessed steady growth even during the pandemic, they have recently expanded to two new locations in India; Ahmedabad and NCR. GI has robust expansion plans both for global and domestic locations. GI is focusing on increasing both manpower and client strength. The company is focusing on doubling itself and touching a milestone of 600  top-notch finance and accounts outsourcing professionals in the next few years. Being a global player with the best accounting talent and training GI is now covering global locations like the UK, Europe, USA, Canada, Australia, and Singapore.