Visionet Systems India’s Free Youth Skills Program ‘Unnati for India’ to Address Financial Skill Gaps in the BFSI Sector

Unnati for India‘, a fast-growing free-skilling programme launched by Visionet Systems India, has reached a new milestone by extending its scope to the Financial and Accounting (F&A) Sector. It will provide them with technical training in AI, ML, automation, intelligent document processing, etc.

In May 2020, Visionet Systems India, a premier digital technology solutions company, had launched a free skilling program, ‘Unnati for India‘ to transform raw talent into a future-ready, employable workforce, adept in loan processing, customer support, loan divisioning, data analytics, cloud automation, etc. The project aims at employing 1,00,000 youth over a period of 5 years. This initiative is the brainchild of Mr. Alok Bansal, MD Visionet Systems India and Global Head of BFSI Business.

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Mr. Bansal says, “This new skilling program has been designed to meet the needs of companies in the arenas of Finance & Accounting. We welcome any diploma holder or graduate to join and learn the BPS practices of F&A including how to decode the complexities of account receivables, account payables and processes like ‘order to cash’, ‘record to report’, etc.”

The idea he says is to teach young people how to provide expertise that is needed in real time, especially when more and more companies are outsourcing their F&A services. Outsourcing, says Alok, also increases operational flexibility, reduces costs and augments the efficiency of business processes, and in this recession-proof space, employment opportunities are plentiful.

Alok cites a March 2022 report by a leading financial outsourcing firm, Quatrro Business Support Services Inc., according to which the global financial and accounting market is expected to grow at 5.9% CAGR and may be valued at $53.4 billion by 2026.

Alok adds, “There is an increasing demand for BFSI professionals in Tier 1 and 2 cities, and recruiters are looking for candidates proficient in new age skills. In the F&A space, there are skill gaps and companies are looking for managers, business analysts, specialists and employees proficient in Artificial Intelligence (AI), advanced analytics and more.”

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Post the pandemic, he says, companies can no longer put off digital acceleration and job aspirants have to keep up with Robotic Process Automation (RPA), Intelligent Document Processing (IDP), cloud migration and assorted technologies that help to retrieve and gather more accurate and efficient data, improve productivity, simplify workflows and perform tasks more quickly.

Right now, Visionet is busy fine tuning the modules by upskilling 100 of their employees and Alok informs, “Once we lock the modalities of training and skill dispersion, and the pilot program becomes a success, we will formally launch it. We will consider upskilling more employees within the company and also absorb as many freshly skilled trainees as possible.”

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