Better managing talent to overcome the obstacles to digital transformation in the finance function

The digitalization of companies impacts the finance function. The digital transformation of the finance function frees internal actors from strictly accounting or low value-added tasks. In order to take full advantage of this major digital evolution, it is necessary to develop the internal skills already available and to recruit new talent. They will need to be able to analyze and leverage the data to provide relevant strategic advice. How to select the best profiles?

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Don’t just focus on the finance degree

Against a backdrop of automation and robotization, the traditional finance professions (accountants, management controllers, etc.) are undergoing major changes. Also, the new recruits in the finance department will be called upon to carry out more in-depth analyses than in the past.

As true Business Analysts, they will have to develop models from the data at their disposal. By revealing the major trends, they will enable the company’s managers to seize opportunities and thus improve the business development policy.

If the use of talents from the most prestigious business schools with a specialization in Finance is still relevant today, it is important not to neglect other profiles with skills in analysis and new technologies: Chief Data Officer, Data Scientist, programmers, graduates in applied mathematics or professionals with experience in the consulting and banking world

    Assess soft skills and focus on soft skills to hire finance talent

    The scope of intervention of finance executives within the company is expanding considerably.

    Indeed, these professionals are recruited for their high level of analysis and management but also for their ability to develop strategic thinking. Moreover, they are increasingly required to interact with players from other departments in the company. A strong management ability is now expected.

    In addition, these
    new talent in the finance function
     must distinguish themselves by their know-how as well as by their interpersonal skills. The rise of robotization and artificial intelligence does not exclude human values. Soft skills are not to be neglected here.

    To be a good manager, you must also show empathy and negotiation skills, while not lacking the ability to convince people to adopt the digital transformation of the finance function.

    Moreover, intellectual curiosity and the desire to modernize the function must be present, in order to constantly update one’s skills and not give in to any kind of automation of behaviors, which is detrimental when a routine is established.

    Soft skills should therefore be taken into account during the recruitment process by means of role-playing exercises or exchanges on the candidate’s previous experience.

    Valuing the technology present in the company to attract young talent

    To be fully effective, the new players in the digitalization of the finance function will need to have high-level digital tools. Younger talent is eager to work with cutting-edge technologies to exploit their full analytical capacity. Only then can they be sure that they are in possession of reliable and up-to-date data.

    Having high quality tools is therefore a good way to attract young graduates who distinguish themselves by their analytical mind. Otherwise, they may consider that the material means made available are not sufficient to serve their ambitions and objectives.

    Identify ways to improve the finance function as a source of development for talent

    Today’s finance jobs are characterized by greater cross-functionality. Young talent is bound to appreciate this central position within the organization, which will pave the way for them to acquire cross-functional skills.

    This privileged position is also likely to reinforce management skills. The topicality and scope of the transformation of the finance function place these new managers in a position to develop innovative approaches, to move the lines and to conduct experiments. The employer will closely monitor the careers of these talented individuals, who are essential to the transformation of the finance function, and will give them priority treatment in terms of training policy.

    This new generation of finance executives will thus be effectively promoted. This will undoubtedly lead to a higher level of motivation and commitment.

    By accepting an assignment in the finance department, talents can very reasonably expect interesting career prospects. They will, in fact, be equipped to perform high-level functions or to move to other sectors of activity.

    At Sqorus, the personality of our consultants makes the difference. During our job interviews, we carefully analyze the soft skills of the candidates to ensure that they correspond to the values of the company which animate our teams on a daily basis and make the success of our clients’ projects: solidarity, diversity, commitment.

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    P.S.

    Sqorus supports its key account clients in the digitalization of their finance functions. With a functional and technical expertise of the main solutions of the market dedicated to the finance business, we implement and accompany our customers in all phases of their projects. Thanks to consultants certified on solutions such as Oracle, Netsuite, PeopleSoft, Kyriba or Axway, S&H is the preferred integrator of financial solutions on the market.

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