Outsourcing is still a valuable strategic tool for businesses. While outsourcing may be done without serious issues, some businesses do have issues. Unmet expectations or new possibilities may necessitate changes to existing sourcing strategies. Such rethinking may be prompted by internal or external developments.
Businesses are investing in standardisation and fully managed, globally provided outsourcing services to help customers achieve faster execution, lower costs, and improve dependability as a result of a market shift in provisioning expectations toward configure-to-order rather than build-to-order.
GI Outsourcing is a prominent account outsourcing solution partner for accountants and worldwide corporations, based in the United Kingdom. Its long 21-year history, deep subject expertise, and unrivalled client and people experience have made it a chosen account outsourcing partner for its global customers. The firm provides a complete accounting outsourcing solution with a choice of service packages to meet the demands of customers. Bookkeeping, Management Accounts, SMART Services, Dedicated Resource Model, Statutory Accounts, Payroll, Taxation, and GI Cloud Consultancy are among the key services. Management accounting, taxation, recruitment, payroll, IT software, virtual CFO, controllerships, and corporate advisory services are also available. GI’s teams collaborate with prominent accountants in the UK and Ireland, as well as a wide spectrum of SMEs, with a focus on the hospitality, legal, recruitment, property, and healthcare industries.
The company’s clear focus on investing in the right talent, extensive experience in fostering strong client relationships, deep commitment to maximizing efficiencies and lowering the total cost of F&A ownership for its clients, and game-changing technological solutions enable clients to develop more agile and adaptable working styles.
The Chief of GI
Vikas Chadha is the Managing Director at GI Outsourcing. He’s built numerous pillars in current areas of business to help established UK service organisations harness their strengths in quality and service. He’s also extending his firm into new geographies and establishing additional lines of business that are complementary and high-value additions.
After completing his Chartered Accountancy in 1996, Vikas joined the biggest business house in India, Tata Group, and worked with their group company, Tata Global Beverages, and got an incredible exposure to values that he nurtured throughout his career; the highest level of service standards, customer centricity, and the importance of quality, integrity, and ownership. In his relentless pursuit of excellence in his 25-year career, he has played a pivotal role in guiding MNC’s; Berggruen Hotels (Keys Hotels), Bharti Airtel, Thomas Cook, Ampersand Education, Marico Ltd, and Mahindra & Mahindra Group. He has also written a motivational book, “Secrets of Success and a Happy Heart” that was featured on the list as the number one Amazon best seller in 2020.
Vikas understands clients’ unique needs and ensures that employees develop more agile, adaptive ways of working to meet those requirements. “Having a customer-centric approach enabled us to foresee their future requirements that help us innovate our offerings. Increasing the attractiveness of our offering and keeping our price fixed ensured excellent value for all our customers. This unique approach has helped GI immensely as 65% of our turnover is based on referrals—a reflection of the high esteem within which we are held, “says Vikas.
At GI, Vikas is responsible for bringing in talent by creating a quality learning initiative, “GI academy.” The Academy hires chartered accountants from the Institute of Chartered Accountants of India (ICAI) and ACCA’s. He has already embarked on opening offices across India. GI Outsourcing is now present in Delhi/NCR, Ahmedabad and Mumbai.
As per Vikas, the motivation factor behind his effective leadership is the zeal and the opportunity to create and add value. Being a part of a brand since its inception and seeing them grow gives him a great feeling. He asserts, “Their success further inspires me to scale to greater heights.”
SMART
GI’s ‘SMART’ service is a one-of-a-kind offering. It enables a company or accounting firm to totally outsource its financial department. By offering increased management reporting and up-to-date financial information from which to examine important performance metrics, this often leads to a major improvement in a practice’s or business’s insights. On a white-label basis, GI provides the SMART service. GI also works with a number of major cloud accounting software providers, including Xero, Sage, QuickBooks, CCH, and Caseware, as well as several significant ERP systems, such as Dynamics, SAP, and Oracle, to help companies achieve operational excellence.
Adoption of a Unique Business Strategy during the Pandemic
With a customer-centric approach, GI teams were able to anticipate future requirements, allowing them to develop their solutions. As per Vikas, increasing the attractiveness of the offering and keeping the price fixed ensured excellent value to all GI customers.
Employees developed more flexible, adaptable ways of working to match the requirements after understanding the customer’s particular demands. GI built numerous expansion pillars, including deepening current lines of business and integrating its quality and service competencies with those of an existing UK service company. Concurrently, the company added new lines of business, including cloud accounting, that proved to contribute significantly to GI’s global growth and revenue. This novel strategy has greatly aided GI, as recommendations account for 65 percent of its turnover, demonstrating the company’s high regard.
GI expanded its reach and established delivery centres in important talent hotspots in India, including the New Delhi NCR area and Ahmedabad, by expanding its comprehensive offering of services and solutions to customers.
Millstones that Become Identity
A qualified Chartered Accountant, Vikas has extensive experience forming effective business relationships aimed at mutual progress and profit. He was declared the winner of the ET Now Pride of India Awards and the Best Chief Financial Officer in Digital Learning and Education in 2020. (Asia). Meanwhile, the Chartered Institute of Management Accountants in the United Kingdom named Vikas “One of India’s Most Influential CFOs” in 2016. Vikas was also named Best CFO, Hospitality and Services at the AsiaCFO Excellence Awards in Singapore, as well as ‘Business Leader of the Year’ at the World HRD Congress’ 29th edition.
Vikas was recently honoured with the Indian Achievers’ Forum’s Udyog Bharti Award 2021. GI has earned the UDYOG BHARTI award for its contribution to Indian industry and the Indian economy, creating job possibilities, and supporting the Indian export of services, all under Vikas’ capable leadership. He has also written a best-selling book called “Secret of Success and a Happy Heart.” The firm has received multiple awards under his leadership, including Dream Company to Work with at the World HRD Congress and for ‘operational excellence and quality’ at the renowned 19th Asian Outsourcing Leadership Awards, 2021.
Vision for GI
The company’s objective, according to Vikas, is to “revolutionise the way traditional outsourcing operates.” The team aspires to be a true Global Interconnected solutions provider, enhancing others’ working life via increased efficiency, automation, and knowledge. By cultivating an inventive culture within the company, they want to turn their least lucrative customer into a profitable one. To create and implement new ideas, GI gives its employees enormous decision-making authority.
In numerous sectors of finance and accounting, GI is considering aggressive development plans and extending its global reach. The organisation is aggressively expanding its footprint in India in order to foster and recruit the greatest accounting talent available. In terms of market expansion, Vikas has been developing a strategy to expand GI’s reach outside the United Kingdom and Europe, including the United States, Canada, Australia, and Singapore. GI will become a worldwide player with the greatest accounting talent and training as a result of this.
Advice for Emerging Ones
Vikas advises aspiring CEOs to recognise the enormous chance they have to shape the destiny of their company via their leadership. Vikas asserts, “They play a pivotal role in instilling a value-based culture that sets the foundation and guiding principles for decision-making, actions and a sense of community. A value-driven culture helps employees to find a balance between their personal values and organisational values, which creates a unified and motivated staff. ” He goes on to say that CEOs in successful firms are clear on how different principles completely define the organisation and ensure that their employees and future employees are aware of this.
