Pandemic turns the tide in favor of accounting outsourcing
- Vikas Chadha, CEO, GI Outsourcing narrates his journey from a CA to CEO.
The calm yet determined man, Vikas Chadha does not believe in regretting any business decision made. He manifests the fact that to remain competitive in this hyper-dynamic environment, businesses need to focus on delivering against the broader definition of value.
An ace leader who is known for his business acumen and precision in the industry, Vikas Chadha, Managing Director of GI Outsourcing talks about his remarkable journey and vision to transform GI into a leading KPO.
How has your journey so far been like?
It has been an incredible journey so far, I completed my Cost accountancy in 1995 and then completed my Chartered Accountancy in 1996, I Joined the biggest business corporate house Tata Group and worked with their Group company Tata Global beverages. Those were exciting times with Tata Global acquiring Tetley UK. Beyond the work experience, working with Tata’s gave me exposure to the highest level of service standards, Customer centricity, the importance of quality, Integrity, and ownership which were the pillars on which I further built my career. I worked with Tata Global for five years and kept value-adding to my degrees through various National and International management courses
Today, after nearly 25 years, I feel have been fortunate to guide MNC's which includes my stint at Berggruen Hotels (Keys Hotels) as Executive Director and CFO, Bharti Airtel, Thomas Cook, Ampersand Education, Marico Ltd, and Mahindra & Mahindra Group, my journey has been graced by awards by the Chartered Institute of Management accountants the UK as “One of the Most influential CFOs of India” in 2016 and Asia Business leader of the year 2020. I was also inspired in 2020 to write a motivational book “Secret of Success and a Happy Heart" which also featured on the list as the Number one Amazon bestseller in 2020.
Through my deep connections, I have ensured that GI has visibility and recognition in the business circles. It will fortify fresh talent and high-quality resources taking the firm to the next level. Networking is of prime importance and I have been creating opportunities for GI and leveraging its 21 years pedigree to gain substantial growth.
What inspired you to do what you are doing right now?
I have been driven by the goal to create success stories and leverage the opportunities. Co-creating a vision for growth and growing the business along with your colleagues and making GI a leading KPO and a company providing high value-added services. Success is what motivates me and knowing the fact that our hard work and perseverance will help GI achieve greater professional success is what keeps me going. As a leader, you must trust your team members and support them.
Can you brief us about the scope and USP of your firm?
Based in the UK, GI is a leading account outsourcing solution partner for accountants and global businesses. Our rich 21+years’ legacy, deep domain expertise, and unmatched client and people experience have made us a preferred partner to our global clients for account outsourcing. We offer a comprehensive accounts outsourcing service, with a variety of different service packages to suit customer needs. Our key services include Bookkeeping, Management Accounts, SMART Services, Dedicated Resource Model, Statutory Accounts, Payroll, Taxation, and GI Cloud Consultancy, management accounting, taxation, recruitment, payroll, IT software, virtual CFO, controllerships, and corporate advisory services. We work with leading Accountants in the UK and Ireland and also work with a diverse range of SMEs, with a strong specialization in the Hospitality, Legal, Recruitment, Property, and Healthcare industries.
Our clear focus on investing in the right talent, extensive experience in fostering robust client relationships, deep commitment toward maximizing efficiencies and reducing the total cost of F&A ownership for our clients, and our game changing technological solutions empower our clients to develop more agile, adaptive ways of working, makes us.
SMART is a unique service developed by GI. It allows a business or accountancy practice to completely outsource its finance function. This typically results in a significant improvement to a practice or business's insights by providing enhanced management reporting and up-to-date financial information from which to assess key performance indicators. We offer SMART service on a white-label basis.
Alongside, we partner with the major cloud accounting software players, including Xero, Sage, QuickBooks, CCH, and Caseware, Iris as well as many of the large ERP systems, such as Dynamics, SAP, and Oracle for driving operational excellence.
What is the vision of your company?
The company has the vision to double our operations in the next two years and further expand our footprint in other geographies including the US, Australia, Singapore, and Canada. GI has already started investing in hiring a world-class workforce.
What is your current perception of the market situation?
Future-ready organizations in the new normal will be agile in adapting to changing environments and act with speed through robust decision-making.
The pandemic has forced organizations to reconsider their status quo and push for what is possible. Traditionally, F&As have been reluctant to implement work from a home model, however because of the pandemic as any other function CFOs have realized the value of working from home and have it as a part of their permanent delivery model from the business continuity planning. Interestingly this development has given rise to a new trend, businesses are increasingly open to leveraging hybrid operating models in the future; partnering with third-party service providers.
How did GI cope/ perform during the pandemic?
Despite an uncertain business environment, outsourcing providers are creating a transformative impact on companies of any size that suffered a downturn due to COVID-19. GI Outsourcing has witnessed a growing demand for accounting services which has helped us to overcome the challenges thrown by the pandemic and drive strong momentum.
GI has rolled out a salary hike for all our employees in the middle of a pandemic. We are extremely thankful to all our employees for demonstrating resilience, adaptability, and an innovative mindset to steer the company in these tough times.
What are your plans for the company?
We have carved robust expansion plans while strengthening our footprint globally in various areas of finance and accounting; Management accounting, YE Accounting, Taxation, Payroll, Dedicated Resource outsourcing. We are focusing on growth through a two-pronged strategy; increasing service offerings and increasing geographical expansions.
We plan to expand our services into Cloud Computing, Advisory to India outbound business to geographies covered by us, Advisory to India inbound business from all geographies across our network, Virtual CFO, Corporate secretarial and Company Formation, Directorship services, International Entity Health checks, Common Reporting Standards and Compliance services: FATCA/ KYC Compliance.Concurrently, we would also like to delve into new markets by deepening our reach in UK and Ireland, foray into the USA, Canada, Australia, Singapore, Dubai, and Hongkong.
Disclaimer: This is a company press release. No HT journalist was involved in the creation of this content.