People Dependency to Process Dependency
When organizations start, naturally, it is people who matter most. It is people who conduct business, execute transactions and help in...
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INDUSTRY EXPERTS
J V S N Krishna
Founder & CEO
Chartered Accountant
Founder & CEO – JSS Pro | Ex. KPMG | Growth Advisor & Mentor
Business advisory & consulting experience of 14+ years
Experience in tax, audit, process optimization and management consulting roles
Founder CEO of JSS Pro Services, a professional services firm that has grown multi-fold in headcount, clients and revenue.
Responsible for creating Inventory Management COE for TATA Motors and Coca-Cola Beverages.
J V S N Krishna
Founder & CEO
LEADERSHIP
As a first step to hire an India Head followed by a sustainable leadership pool and leverage on global talent pool. Focus on ability to attract top talent and control attrition.
CAPABILITIES
Using Org design, to create core, strategic and business critical functions. Conduct competency and capacity augmentation.
INTEGRATION & EXTERNAL TEAMS
Owned, integrated and streamlined with global operations with low reliance on external teams but to some extent, to benefit from cost leverages of expandable external teams.
INFORMATION SECURITY
Ensuring information security and controls as well as continuity of services is key for mitigating risks.
VALUE
Deliver on core, critical functions while attaining good levels of productivity. Investment into centres of excellence. Strategic partnerships with the ecosystem for engaging with local startups key universities and other vendors of strategic significance.
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4 KEY AREAS | DEEP DIVE
Talent
IT CORRIDORS
IT Corridors provide high quality infrastructure with strong talent pool connections. Hyderabad's corridor extends from Hi-Tec City to Airport and houses 14 SEZs.
SEZs & CLASS-A FACILITIES
Most SEZs are class A facilities while some non-SEZs also have world class facilities. Identifying the space requirements with long term arrangements will be beneficial.
MANAGEMENT STRUCTURE
With a minimum two director requirement and the board management needing to done from India, adequate aspects of governance may be segregates across Indian & global managements.
REGISTRATIONS & OTHER KEY ASPECTS
Mandatory registrations and optional registrations - about 15 laws to be complied with, internal committees to be set up for HR etc. IP protection and MSA / SOW structures. Besides HR, vendor policies and T&C including global anti-bribery and other norms to be set up.
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4 KEY AREAS | DEEP DIVE
Infrastructure
FINANCIAL PROCESSES
The finance process broadly needs to cater to financial controls, compliance, reporting and strategic needs including revenue model, key cost identification and budgeting.
ACCOUNTING PROCESSES
Indian GAAP and IFRS distinctions and tax accounting processes need to be put in place to enable accurate and appropriate GAP compliance and global and India reporting.
TAX COMPLIANCE
At a broad rate of 25.17%, efficient tax planning possibilities are available. Procedural aspects include maintenance of 8-10 registers, committee operations, ensuring manuals and handbooks are compliant with Indian laws. Besides, return filings and tax / duty payouts in a timely manner as per SOPs / calendars are required.
BENEFITS & INCENTIVES
Tax benefits favouring export-oriented undertakings can be taken advantage of. These include EOU, EPCG, SEIS, SEZ, etc to be evaluated periodically and can result in a 40% tax cost reduction.
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4 KEY AREAS | DEEP DIVE
Finance & Tax
CORPORATE STRUCTURE
LLP vs Company and the group holding structure to be strategized to maximize benefits and achieve smooth fund flows.
CAPITAL STRUCTURE
Depending on short-term and long-term fund requirements, revenue advances, ECB (loan models) and FDI or a combination of the three may be deployed.
MANAGEMENT STRUCTURE
With a minimum two director requirement and the board management needing to done from India, adequate aspects of governance may be segregates across Indian & global managements.
REGISTRATIONS & OTHER KEY ASPECTS
Mandatory registrations and optional registrations - about 15 laws to be complied with, internal committees to be set up for HR etc. IP protection and MSA / SOW structures. Besides HR, vendor policies and T&C including global anti-bribery and other norms to be set up.
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4 KEY AREAS | DEEP DIVE
Legal & Regulatory
India is rapidly becoming a major destination for Global Capability Centers because of its vast workforce, among other emerging factors, which is second to none in providing R&D capabilities across all conceivable domains.
While multinationals in the IT and BPM (Business process management) sectors continue to dominate the GCC industry in India, recent trends have shown that the engineering and manufacturing industries are also not far behind.
In the Post COVID world, GCCs will have to adapt to the digital “New Normal” while developing and building on their expertise in new age technologies like AI and machine learning.
CORPORATE SERVICES
GCC Setup & Scale-up
Adapting to the new normal
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