Most in demand tech skills your accounting and finance team needs

The once-reliable field of accounting and finance has now become an ever-evolving landscape—a change we can credit to various technological advancements. A recent survey showed that 86% of accounting and finance respondents believe that technology will play a significant role in their growth.

Emerging technologies, like AI and automation, have rendered traditional methods, such as manual bookkeeping, to a relic of an older time. For organizations that want to avoid a similar fate of falling behind the times, adapting to the modern ways of working is essential.  

Whether you’re upskilling your current workforce or on the market for new tech-savvy professionals, building your accounting and finance team with the following tech skills will benefit your company in the short and long term.  

Cloud computing

Cloud computing manages a range of basic accounting tasks, including auditing, bookkeeping, data entry, and more, acting as a digital storage of information.  

While this may have initially seemed like career-crushing software, the opposite is true, as organizations that incorporate it into their operations saw improved efficiency and data security. Employing workers who are strongly familiar with cloud-based software will ensure they are better able to save time and access and share data.

Data analytics

Among the top skills for an accountant and other finance professionals is experience in data analytics. Data analytics allow accountants and other finance professionals to discover valuable insights in their financials they can then use to contribute to the decision-making process for their clients and stakeholders within their organization.

AI & robotics

While AI has left workers across many fields feeling uncertain about their futures (34% of accounting and finance professionals believe it will have a long-term impact on their careers), utilizing it can streamline an abundance of repetitive tasks, especially for those in accounting.

Fortunately, our research indicates that 96% of professionals want to learn more about AI to help them one: adapt to new roles (81%) and two: improve their efficiency and productivity (77%).

Common functions AI can perform for your accounting and finance organization include:

• Document review
• Data entry
• Invoice processing
• Transaction categorization
• Tax research

Download our Talent Trends report for more insight on workers’ perspectives

Data visualization tools

Professionals in accounting and finance manage a lot of data, so adopting ways to make large amounts of information more digestible can be helpful. Graphic representation, including graphs, charts, and tables, allows your workers to transform data into meaningful visuals they can share with clients and other stakeholders or use to improve their own understanding.

Ensuring your team stays up to date on the latest data visualization tools will enhance their performance, making it easier for them to identify trends, patterns, and high risks.

ERP systems implementation

Along with automation software, finance teams should also have a strong understand of enterprise resource planning (ERP) systems, which includes a range of features and acts as a platform for numerous activities, such as payroll, accounts receivable, accounts payable, and more.

When implementing ERP systems, finance teams can expect enhanced processes for the following:  

• Customer relationship management: ERP systems allow you to easily store and access important information about your customers’ records, such as payment history and purchase volume.
• Data centralization: Employees in accounting and finance understand how frustrating duplicated data is. An ERP system collects and organizes shared information from multiple sources, freeing up time your finance team would otherwise spend cross-referencing data.
• Data security: ERP systems are also equipped with strong security measures designed to protect sensitive data from unauthorized access.

ERP systems are a great way to manage multiple processes in a single system and ultimately gain a competitive edge, making employees with ERP expertise invaluable.  

How can Michael Page help?

Finding employees with the right skills takes time, especially in a field heavily impacted by quickly advancing technology.  

Partnering with a well-established agency like Michael Page can help streamline the process. We have a large pool of existing talent, allowing our specialized accounting and finance recruiters to connect you with your ideal candidate in less than thirty days for permanent and temporary roles.

Request a call back to start a conversation about your hiring needs.