Global Capability Centers (GCCs) are offshore facilities that multinational corporations set up to facilitate various business functions and processes for their parent organizations. According to the website assets.ey.com, the number of GCCs in India is projected to grow from 1,700 to 2,550 centers with a market value of USD 110 billion by 2030 and is expected to create over 2.5 million jobs.(Source) India’s expanding GCC landscape showcases its emergence as a strategic hub for global business services, not just cost arbitrage. KMK, as a GCC, exemplifies India’s evolving capability to leverage advanced technology, innovation, and operational efficiency.
Before the advent of GCCs, these facilities focused on back-office and business support tasks. They also helped in end-to-end IT support services such as maintenance and help centers. Their activities were limited to some business functions, such as customer service, document management, and data processing. However, such facilities in India have evolved into innovation hubs and Centers of Excellence (CoEs) across multiple areas rather than just simple support centers. KMK has mirrored this evolution by transitioning from a traditional support function provider to a center that enables co-creation, innovation, and advanced financial solutions for global clients.
The trend is clear. India is no longer a destination for cost-saving measures. Instead, it has become a strategic location for co-creation, innovation, and scaling. It can be said that the GCC model has evolved. Today, the GCC model focuses equally on driving new revenue streams and strengthening organizational capabilities.
The concept of GCCs in India has evolved significantly since the first back offices and support centers were established. Earlier, GCCs were established as back offices of multinational corporations. They were engaged in simple tasks such as IT support and customer service and were driven by cost advantages offered by lower labor costs in India.
In the next growth phase, GCCs began to offer more value-added functions, such as R&D, engineering, and product development, as Indian talent and infrastructure improved. They transitioned to strategic assets from being cost centers. With this, GCCs came of age, playing a crucial role in supporting global MNC operations.
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Presently, GCCs are enhancing their capabilities and improving efficiency through digital technologies. They are now positioned as innovation hubs. At the same time, companies are investing heavily in talent development to ensure their GCCs can access a skilled workforce. This has made India a leading destination for GCCs of several global giants, which include Amazon, Microsoft, Google, Goldman Sachs, Deloitte, JP Morgan, Citi, and HSBC.
KMK’s role as a GCC aligns with this narrative. By investing in talent and adopting digital technologies like AI, machine learning, and cloud computing, KMK has positioned itself as a forward-looking capability center driving innovation and operational excellence.
India’s GCCs continue to contribute to organizational success. This is due to their superior capabilities in providing specialized IT, R&D, finance, customer support, and data analytics services. By leveraging these resources and expertise, companies can achieve significant success and growth:
Cost-Effectiveness: When GCCs adopt cost-effective locations and streamlined processes, this leads to standardized practices, reduced overheads, and significant cost-efficiencies.
KMK Perspective: KMK maximizes cost-efficiency for global businesses by leveraging strategically chosen locations and optimizing processes. This enables clients to reduce operational costs, standardize workflows, and focus on core business functions while enjoying high-quality, scalable services.
Innovation: India’s GCCs lead in fostering the development and application of advanced technologies. This is done through the promotion of originality and collaboration. At the same time, these centers push technological boundaries while aiming for future growth.
KMK Perspective: KMK excels in driving innovation for global businesses by integrating cutting-edge technologies into its service offerings, enabling clients to achieve sustained growth.
Supporting Strategic Initiatives: Indian GCCs closely align with the business objectives of their partners. Some of these include digital transformation, market expansion, and product development. GCCs thus assist organizations to maintain a cutting edge in the global markets and achieve strategic goals.
KMK Perspective: KMK partners with clients to deliver tailored solutions aligned with their strategic goals, whether it involves market expansion or digital transformation.
Operational Excellence: GCCs in India continue to focus on implementing best practices and robust processes. They meet quality standards and help organizations achieve their objectives while enabling them to set new benchmarks.
KMK Perspective: KMK’s dedication to operational excellence ensures seamless service delivery, enabling businesses to set benchmarks in efficiency and quality.
Agility and Scalability: GCCs in India continue to respond quickly to customer needs and market changes. They can offer flexible resource allocation, scalable operations, and rapid solutions deployment.
KMK Perspective: KMK stands out for its agility in addressing client needs and scaling operations efficiently to meet dynamic market demands.
Global Collaboration: GCCs make it easy to facilitate cross-functional collaboration and adopt best practices. This provides a competitive advantage and helps establish the best-in-class data centers and computing infrastructure.
KMK Perspective: With a global mindset, KMK fosters cross-functional collaboration and leverages best practices to deliver superior results for its international clients.
Global Capability Centers (GCCs) are pivotal in driving innovation and resilience in today’s fast-evolving business landscape. Here’s a closer look at how GCCs contribute to key business areas:
As a GCC, KMK delivers innovative solutions across these business areas, providing clients with actionable insights, enhanced risk management, and streamlined compliance.
While GCCs bring significant advantages, they also face notable challenges:
KMK proactively addresses these challenges by implementing robust governance frameworks, investing in employee upskilling programs, and fostering an inclusive work environment to bridge cultural gaps.
The future of Global Capability Centers (GCCs) in India is promising, driven by strategic focus areas and expanding opportunities:
KMK continues to innovate by integrating these advanced technologies into its service offerings, ensuring clients are well-equipped for the future.
India’s GCC landscape is expanding beyond traditional hubs like Bengaluru, Hyderabad, and Mumbai to tier-II cities such as Visakhapatnam, Jaipur, and Coimbatore, thanks to improved infrastructure, favorable policies, and lower operational costs. As GCCs enhance automation, operational efficiency, and sustainability, they are poised to create significant job opportunities and establish India as a global business and IT services leader.
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As a Global Capability Center, KMK exemplifies how GCCs can drive innovation, efficiency, and value for businesses worldwide. By leveraging advanced technologies such as AI, machine learning, cloud computing, and data analytics, KMK delivers tailored solutions in accounting, tax preparation, audit support services, and financial services. Its commitment to operational excellence and strategic alignment with client objectives ensures cost efficiency, compliance, and scalability.
KMK’s focus on talent development, continuous learning, and emerging technologies like IoT and digital twins solidifies its position as a forward-thinking GCC. KMK plays a crucial role in enhancing global business operations by fostering innovation and collaboration while contributing to India’s reputation as a GCC powerhouse.
Global Capability Centers have transformed from cost-saving support hubs into strategic assets, driving innovation and growth for multinational corporations. India’s robust GCC ecosystem, fueled by advanced technologies, talent development, and expanding regional opportunities, underscores its significance as a global services leader. KMK is at the forefront of this transformation, setting operational excellence and innovation benchmarks while creating value for global businesses.
As GCCs continue to embrace innovation, enhance operational efficiency, and expand into new markets, their role in shaping the future of global business remains indispensable. India stands poised to lead this transformation, solidifying its position as a hub for excellence and innovation in the GCC landscape.
Dev Kothari, a seasoned leader at KMK, heads the Special Teams, where he leverages his extensive expertise in managing large-scale accounting and tax return processing for U.S.-based clients. With a keen eye for workflow optimization and stakeholder collaboration, Dev drives exceptional efficiency and quality in high-volume project delivery. As a dual-qualified CPA (AICPA, Arizona) and Chartered Accountant (ICAI), Dev’s blend of strategic insight and technical prowess positions him as a key asset in ensuring KMK’s clients consistently achieve their financial goals.
KMK is a top outsourced accounting and tax service provider. We offer end-to-end accounting and tax services for small to mid-sized businesses, with a team of 875+ professionals, including certified public, chartered, and staff accountants.
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