Once considered as the glorified cost-saving alternatives, the Indian Global Capability Centres (GCCs) are now the backbone of most global businesses, if not all. The profound transformation in the Indian technology space, fueled by incredible tech talent and state-of-the-art infrastructure for them to flourish, has transformed these GCCs into global hubs of innovation, transformation, and high-value business outcomes.
The current First Meridian report covered by The Economic Times highlights that India’s GCC workforce is anticipated to see as many as 4 lakh new jobs and drive a 3-5% enhancement in gender diversity for freshers by 2030, which is a testament to the nation’s position as a global epicenter for digital operations and knowledge-intensive services.
For the global Finance & Accounting (F&A) space, this resurgence of Indian GCCs will translate into immense growth opportunities – especially for CPA firms and mid-market enterprises in Canada and Europe.
If you’re a CPA firm seeking to streamline processes, cut costs, and scale with speed, perhaps it is time to ride the GCC wave for Global Finance and Accounting.
The Talent Engine That Fuels Indian GCCs
According to NASSCOM, as early as 2024, India was home to nearly 1,580 active GCCs, adding almost US$46 billion to the Indian economy annually. Each GCC rapidly evolves into a global hub for next-gen functions, such as AI-powered accounting and bookkeeping, audit analytics, tax automation, and real-time financial reporting.
While the technology infrastructure has been conducive to the growth of Indian GCCs, the absolute powerhouse here is the Indian talent engine, with nearly 1.5 million highly qualified commerce graduates entering the workforce annually. To further elevate the standards, complimenting the fresh crop of talent is the massive pool of existing highly qualified CPAs, Chartered Accountants, and ACCAs. With all of that, India is the perfect melting pot of large-scale skills, technology infrastructure, and modern sophistication needed to support global finance and accounting transformation.
DBSL’s Legacy in F&A Transformation for Canadian CPA Firms
Datamatics Business Solutions Ltd. (DBSL), with its bespoke accounting and bookkeeping services tailored for Canadian CPA firms, has been at the forefront of helping Canadian CPA firms establish high-performance GCCs in India. The comprehensive suite of outsourcing services encompasses tax preparation, outsourced bookkeeping, financial analysis, and payroll.
DBSL’s rich resource pool of the finest accounting talent, including proficient CAs & CPAs, combined with an advanced technology ecosystem, sets it apart. Its commitment to Canadian GAAP and CRA compliance instills immense trust in its clients. The localized expertise combined with global reach allows DBSL to operate as if their teams were local, resulting in significant cost savings of up to 60% for their clients.
Some of the key highlights of DBSL’s GCC for Canadian CPA firms include –
- Engagements with mid-to-large-sized Canadian CPA firms
- Scalable teams handling end-to-end bookkeeping, accounts production, and tax return preparation
- 100% adherence to data privacy and non-compete protocols
- Customized cloud accounting solutions integrated with platforms like QuickBooks, CaseWare, Xero, and Sage
With its GCCs, DBSL has delivered 3x faster turnaround times during peak tax season, demonstrating our commitment to efficiency and client satisfaction. This has resulted in a 40% increase in client capacity without local hiring, further showcasing the effectiveness of our services.
Strategic European Expansion DBSL’s GCC
While DBSL has a strong foothold among the Canadian CPA fraternity, the European CPA industry also leverages DBSL’s GCC. We recently partnered with a leading eCommerce enterprise from Germany, establishing DBSL’s growing influence in the European GCC landscape.
Our partnership with the German eCommerce giant will enable them to penetrate multiple EU markets with an agile F&A backend. This backend can support multi-entity accounting, VAT compliance, inventory reconciliation, and monthly close processes across 15+ countries. With this partnership, DBSL is fast establishing itself as the hub for finance transformation among European brands.
What’s The DBSL Advantage That Makes Them the Preferred GCC Partner
DBSL offers a unique blend of advanced technology ecosystems and state-of-the-art infrastructure as the breeding ground of immense finance and accounting expertise. So, whether you are a small boutique CPA firm in Canada or a large manufacturing giant headquartered in Berlin, DBSL has the capability and the infrastructure to help you build your GCC with absolute confidence.
The DBSL Differentiators:
- A rich pool of finance professionals across India trained in international accounting standards
- End-to-end support: from hiring and onboarding to governance and reporting
- Dedicated GCC-as-a-Service model for mid-market firms
- Integration with leading F&A tools: NetSuite, QuickBooks etc.
- Enterprise-grade security with ISO 27001:2002 and GDPR compliance
India’s Economic Growth & DBSL’s GCC – A Cohesive Growth Story
While GCCs often have been associated with delivering benefits for global CPA firms, DBSL, with its GCCs, has been an active contributor to India’s employment growth and economic success story. According to the recent EY-FICCI report, India’s GCC market is poised to grow to US$100 billion by 2030, doubling the current workforce to over 2 million professionals.
DBSL’s diverse service offering is making immense contributions to this growth story by actively hiring and upskilling accounting and bookkeeping professionals in global F&A practices. DBSL also has active partnerships with local universities and ICAI/CPA associations, which helps them develop and nurture talent in accounting and bookkeeping. The holistic approach of DBSL turns each of their GCCs as a step forward toward the collective growth goal of the nation.
The Future of Global Finance with DBSL
The global finance and accounting industry is undergoing a severe transformation with the ongoing wave of digitization, decentralization, and intelligent services. As a result, CPAs worldwide are reimagining how they run their back-office operations with DBSL’s GCC. If you’re planning to harness the power of GCC as your strategic growth anchor, write to us at [email protected], and we will help you establish a GCC in India with the highest degree of innovation required to compete in today’s market.
