Finance GCCs: Powering innovation, automation and capabilities for global enterprises

Over the last decade, global capability centres (GCCs) centres in India have scripted a phenomenal success story from India–moving from a ‘proof of concept’ to centres of strategic excellence handling complex knowledge-based processes. From its initial years, when GCCs were set up with the intention to provide value to their global organisations, this sector has come a long way from providing value far beyond the anticipated - wage and cost benefits. The need to drive innovation at GCCs has been one of the critical factors to drive innovation and encourage synergies that benefit their parent organisation, the ecosystem partners, and significantly enhance India’s reputation not just for GCCs but also for 3rd party service providers operating out of India. According to Deloitte, India’s global capability centre (GCC) sector comprises more than 1,300 global organisations, employing more than 1.3 million people and generating USD 33.8 billion in annual revenue in FY20.
 
In the past, GCCs were seen as single function transactional service centres, which would primarily focus on providing finance and IT services, but now, GCCs have moved up the value curve and evolved as transformed themselves into multi-functional, multi-geography service integrated global centres catering to the varied needs of their parent organisations and positioning themselves as business partners. Furthermore, GCCs offer both efficiency and quality, presenting a unique opportunity to generate transformation across the entire business model. GCCs are diversifying their talent pool and making key investments in digital technologies to become the global innovation hub for their parent organizations.

Link to the nomination form: https://www.businesstoday.in/top-finance-gcc-in-india/guidelines

Link to the website: https://www.businesstoday.in/top-finance-gcc-in-india

Today, when India is deemed as the “global GCC capital” with over fifty percent stakes in the global GCC market, their contribution requires significantly more prominence in terms of both visibility and acknowledgements. Against this backdrop, Business Today and Thomson Reuters have come together to recognize Top 30 Shared Services (or GCC –Global Capability Center) in India, in Finance. Through this initiative, Business Today aims to celebrate the best-in-class performance improvements, innovations and achievements by Finance GCCs in this sector and build this as an annual initiative to publish the most definitive list of the top 30 GCCs in finance. The list of Top 30 Finance GCCs will be published in Business Today Magazine.
 
Performance improvement can take many forms; from digital transformation initiatives to scope expansion and incorporation of knowledge-based processes (across global tax, supply chain, statutory reporting etc.). If your global capability centre is innovating, transforming or re-imagining ways of working, we want to hear from you. Tell us about your process improvements, digital transformations, talent management initiatives and/or business impact deliverables.
 
An independent jury will review and assess all submissions. Quantitative and qualitative metrics will be used to determine which finance GCCs will be included in the top-30 power list. The finalists will be announced and celebrated in a special Business Today feature.
 
Participate in the Business Today-Thomson Reuters listing of the top 30 finance GCCs in India, and find out where you stand against your peers across key areas such as Automation & Innovation Strategy, Process Improvement, and Impact. Nominate your GCC Now! It’s time to test your finance GCC’s mettle, and your investments’ returns.