Skills for accounting and finance professionals
When it comes to the skills and competencies, our findings reveal that finance professionals don’t need to become systems engineers, computer programmers, data engineers, or scientists. The finance function does, however, need to understand the ‘art of the possible’ with the deployment of technology so a working knowledge is essential.
In the space of infrastructure and automation, finance needs knowledge of application programing interfaces (APIs) to understand the principles behind the ERP systems and other infrastructure technologies the organisation may use, including Oracle, SAP, Microsoft Dynamic, and others. Finance must also keep up to date with emerging technologies so they can speak the same language as the relevant internal stakeholders and ask the right questions. It will also help finance articulate the business needs and give the right requirements when working with IT to deploy and implement.
With an increased focus on the value-added activities, finance professionals need analytical skills to make sense of data and identify trends and insights based on critical and strategic thinking. In addition to these technical skills, finance professionals need the following soft skills whether managing data, infrastructure, or automation projects.
Finance professionals should be able to identify problems, find innovative solutions, and implement efficient workflows to handle data effectively. Effective communication is essential to explain complex concepts and findings to nontechnical stakeholders in a clear and concise manner. Good communication also includes listening well to understand the requirements and expectations of others. The finance field is constantly evolving with new technologies and data management techniques. Therefore, the finance team needs to be adaptable and open to learning new tools and approaches, to embracing automation, and to seeking opportunities to streamline processes. As previously discussed, cross-functional collaboration is important. Finance professionals should be able to work effectively with other internal stakeholders to share knowledge and leverage the expertise of others.
