Evolving Digital Skills in Accounting and Finance

Finance professionals will need to use their competencies to learn how to manage the finance function in the digital world.

This will require an in-depth understanding of technologies, algorithms, data and organisational structures that are emerging in the digital age. Three key areas will keep professionals relevant in an ever-evolving technological world

Shifting Compentencies

The competency focus is shifting from pure technical skills to people/leadership skills. This is likely to continue as technology automates business processes and the finance function adopts a more collaborative approach within the organisation. In addition, this is also emphasised in the skill gaps experienced by employers and finance functions. The top three skill gaps have been identified as:

+ Business partners (business acumen, behavioural, leadership)
+ Data and analytics (data modelling, data science) Business solutions architect (integrating functional and IT solutions).

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Basic Digital
Literacy

To Work in a Digital Environment

+ Information treatment
+ Digital communication
+ Digital content creation Safety
+ Problem-solving

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Technology
Know-how

Where Deeper Expertise is Required

+ Cloud computing
+ Privacy and security
+ Data analytics
+ New business models

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Mindset and
Behaviours

To Succeed in a Digital Environment

+ Dealing with complexity
+ Working in an agile way
+ Creativity and imagination
+ Lifelong learning (learn, unlearn and relearn)