3 Key Skills Every Finance Professional Need

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Thursday, May 31, 2018

Upskilling is an essential part of being a finance professional, but do you have the necessary expertise?

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Having the right skillset to tap into is a core part of any finance department, and for professionals in this sector, it's essential that they are able to develop their expertise to complement the ever-changing landscape of the industry.

But what skills are going to be in-demand in the future?

Attention to detail

It goes without saying that having a keen eye for the smaller details is an essential skill for finance professionals looking to blossom in the next few years. Of course, it's something that's important in all lines of work but in finance it's nothing short of vital. For most employees, making a small error in a spreadsheet or report is a slight inconvenience, but for those in finance it can be a disaster.

However, a strong attention to detail can be valuable in many more ways than just ensuring reports and calculations are accurate. Finance professionals are now more than ever having to understand the complexities of business and how the accounts for a certain period will influence it. Being able to spot and explain how small factors will impact the company's finances is something that all organizations will want to take advantage of.

Common sense

Common sense isn't something that many people would automatically associate with finance, but professionals that are able to use a little everyday knowhow in their day to day actions can help to provide an uncomplicated and straightforward strategy that works.

People have a tendency to overcomplicate business in general and forget that the simplest approaches can be the most effective. Finance is an area in which this happens far too often. However, if you're able to maintain an element of common sense in every decision or recommendation you make, then you'll be an asset to any team.

Communication

Finance professionals can often be guilty of disconnecting from the rest of the company. It's easy to understand why; they are skilled in a very different discipline to most employees, they often have to make unpopular decisions, and collaboration is rarely necessary. These factors all mean that finance professionals that are able to effectively communicate with the rest of the business are like gold dust.

For many of those outside of finance, the industry can be one full of jargon, figures and statistics that are near-impossible to get your head around. This means people that are able to understand this information, putting it into words and a context that resonates with their colleagues, are priceless professionals.

Strong communication skills are vital for those looking to excel in finance. From delivering reports for top-level executives to ensuring employees understand your company policies, being able to exchange information seamlessly with others is a valuable and transferable skill.

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