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3 November 2016

Future Roles of the Finance Department

Future Roles of the Finance Department

Your Accounts or Finance Department’s changing. With the advent of financial (or digital) transformation, its role is rapidly becoming less about housekeeping and more about innovation. That means the roles in it will change, too – in fact, it means you’ll be looking for a whole new range of finance skills.

This new world is all about data; gathering it, analysing it, interpreting it. Through the adoption of more and more advanced ERP systems, businesses are able to collect all sorts of data about their supply chain, customers and performance. And while finance professionals have long helped organisations understand financial data, they’re now expected to look deeper, unlock value from this information and use it to improve the way the whole company operates.

The Big Four accounting firms – Ernst & Young, KPMG, Deloitte, and PwC – have already changed their talent strategies to suit the way technology is transforming the way businesses are audited, and now look for graduates with strong computer and data analytics skills.

It’s no longer enough to simply deal in facts and figures; modern finance professionals need a range of ‘soft’ skills to add to their reporting abilities. They need to be able to think laterally, critically and question everything; they need to be able to present well and understand how their organisation works. Put simply, they’re now more analysts than number-crunchers – all of which will no doubt have an impact on the roles within the Finance Department. Here are a few of the job titles you might see coming through in the near future…

Systems Analyst

The person tasked with analysing complex processes or operations to improve efficiency – often work alongside expert providers such as Percipient.

Database Development Executive

Modern businesses rely on customer engagement, so these experts maintain and develop up-to-date customer and prospect databases.

Data Analyst

As Finance Departments collect more and more data, specialists will need to analyse it and run the calculations to determine how it can be best used for the business.

Predictive Analytics Statistics Manager

Their role is to help business leaders make sense of the wealth of data gathered, to help support the decisions they make.

Behavioural or Social Scientist

As the data reveals the behaviour of customers and prospects, these specialists can study it to predict how they will behave in the future.

Chief Data Officer

Working alongside the CFO and CEO, they have overall responsibility for the control and use of information as an asset, through data processing, analysis, data mining, information trading and more.

If you’d like to find out more about how digital transformation will affect – and benefit – your business, talk to one of the team at Percipient’s Cheshire HQ. Just call us on 01606 871 332.

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