Indias First ever GCC Talent Connect 2024- Bridging Skills in Future

Thu Dec 19 2024

The GCC Talent Connect 2024: A Transformative Gathering for Global Accounting India’s First-Ever GCC Talent Connect 2024 – Bridging Skills for the Future

In the past two years, more than 300,000 U.S. accountants and auditors have left their jobs (Source: CNBC). The Big Four accounting firms—Deloitte, EY, KPMG, and PwC—are grappling with a talent shortage, as highlighted by Deloitte’s recent findings. Furthermore, a report by The Wall Street Journal reveals a 17% decline in the number of employed accountants and auditors since the peak in 2019. These statistics highlight the critical shortage of skilled professionals in the global accounting and finance sector.

In response to this growing talent gap, Simandhar Education organized and brought together the GCC Talent Connect 2024 on December 7th at the historic FKCCI building in Bengaluru. This transformative event united over 50 industry leaders from the Big Four and top U.S. MNCs, along with more than 500+ alumni and aspiring professionals. It was not just an event, but a call to action, focusing on collaboration, innovation, and collective effort to bridge the talent gap in global accounting.

Why Simandhar Education Initiated GCC Talent Connect 2024

Simandhar Education has always been at the forefront of bridging the talent gap in Global Finance and Accounting. Recognizing the escalating challenges, including a significant shift towards outsourcing, this initiative was crafted to:

Foster Collaboration: Unite Global Capability Centers (GCCs), public accounting leaders, and academia under one roof, creating a platform for sharing ideas and best practices.
Address Talent Shortages: Discuss the exodus of accounting professionals and explore innovative solutions to attract, develop, and retain talent in the industry.
Highlight Outsourcing Trends: Shed light on the increasing number of accounting and finance functions being outsourced to countries like India, emphasizing the role of Indian professionals in meeting global demands.

Key Highlights from GCC Talent Connect 2024

A Star-Studded Line-Up of Industry Leaders

Over 50 leaders from global accounting giants, including the Big Four, and representatives from top MNCs participated. Their discussions centered around:

The future of outsourcing in accounting.
The critical need for upskilling talent to match global standards.
AI adoption in accounting and finance.

Panelists included:

Sripal Jain (CA, CPA), Co-Founder of Simandhar Education
Shrenik Shah, Managing Director and Head of the India Office at Armanino
Rashmi Sangtani, Finance Controlling Principal at Haleon
Vishal Agarwal (CA, CPA), Managing Director of Citrin Cooperman India LLP
Sumeet Aggarwal, Partner-in-Charge of the India Office at PKF O'Connor Davies
Ashish Jalan, President at CohnReznick LLP
Sivakumar Balasubramanian, Director, FP&A at Adobe Systems
Dr. Devesh Prakash, Purpose-Driven Partner at EY Financial Accounting Advisory Services
Vishnu Patwari, National Managing Principal at BDO USA and Founding Executive Managing Director at BDO RISE
Rajat Gupta, Executive Director and Audit Practice Leader at Grant Thornton INDUS
Veeranagouda Sharanappa, Senior Director - State & Local Taxes at RSM US LLP
Arun RamaSubramanian, Assurance Service Line Leader for India at Moss Adams India
Samit Shah, Head of the India Office at Elliott Davis
Manoj Pola, India Office Leader at Elliott Davis
Rajitha Shetty, Senior Human Resources Manager at Elliott Davis
Yashpal Jhala, Audit Executive Director at EY
Ajoy Mathew, Manager – People & Culture at CohnReznick LLP
Ankit Gheedia, Finance Lead at Microsoft
Prakash Srinivasan, Senior Director of Product Management at Seclore
Devendra Bagree, Vice President at a Large International Bank
Balaji Ranganathan, Head of Audit for India and the Philippines at Wells Fargo
Amitesh Malhotra, Global Accounts Payable Service Leader at Cisco
Rohit Kaushal, Head of Finance, Vice President of Finance, and Board Director at Maximus India
Rajesh Kini, Chief Financial Officer at Perfios
Prasanna Raghunathan, Head of Financial Planning & Analysis at Teva Pharmaceuticals
Ricky Saraf, Director and Founder at Hillpine Consulting
Amit Sukhija, Executive Recruitment Operations Coordinator at KPMG

Unprecedented Alumni Engagement

More than 500+ alumni of Simandhar Education graced the event, adding their unique perspectives. These alumni, many of whom hold influential positions in global firms, showcased the transformative power of education and the ripple effect it creates in the industry.

Insightful Panel Discussions and Networking

The day was packed with impactful panel discussions, where leaders shared insights into trends reshaping the accounting profession. Topics ranged from the integration of AI and automation in accounting to the importance of regulatory compliance in a globalized world. The networking sessions buzzed with conversations that could shape the future of the industry.

Why GCC Talent Connect 2024 Matters

The GCC Talent Connect 2024 is more than just an event; it is a wake-up call for the global accounting community. With an increasing number of accounting functions being outsourced to India, the country has become a pivotal player in meeting global demands. Events like these highlight the critical need to nurture talent, adapt to changing landscapes, and uphold excellence in every sphere of accounting.

Simandhar Education’s commitment to addressing these challenges is unwavering. By hosting this event in collaboration with industry giants such as EY, PwC, Deloitte, KPMG, and other leading companies, Simandhar has taken a decisive step to ensure that India remains at the forefront of accounting innovation and talent development. Unlike other initiatives, Simandhar Education focuses on bridging the gap between students and companies, fostering meaningful collaborations, and creating pathways toward a brighter, more prosperous future.

The Road Ahead

The conversations ignited at GCC Talent Connect 2024 have set the stage for a transformative year. As leaders, alumni, and educators move forward with renewed focus and determination, the event stands as a testament to the power of collaboration and shared vision.

As the lights dimmed at the FKCCI building, one thing became abundantly clear: this was more than an event—it was the beginning of a movement. Like the first spark of a fire that grows into a blazing flame, this movement is powered by dreams, fueled by collaboration, and driven by the shared desire to redefine the future of global accounting. Simandhar Education remains steadfast in its mission, inspired by the countless lives it touches and the potential it unlocks. Together, we are not just building careers; we are shaping destinies.

Stay tuned as Simandhar Education continues to drive initiatives that shape the future of accounting and finance. The journey is just beginning, and the best is yet to come.