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The Growing Importance of the Financial Analyst

over 2 years ago by Luigi Muscat Filletti
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Evolving technologies are developing the rapid growth of digital transformation across companies of all sectors. The power of data is resulting in the need for organisations to effectively aggregate and analyse quantities of information to be used in their internal and external operations - this is consequently merging further the sectors of finance and technology.

Professionals in Finance are witnessing a shift in their traditional roles through the implementation of technology which is automating a multitude of manual tasks, thus providing these individuals with the liberty to dedicate their time to more strategic tasks within the organisation. Needless to say, opportunity continues to grow steadily for professionals in finance as they are being given the chance to contribute their expertise more directly, this, however, as a result of becoming accustomed to the shifts brought about through technology. The essence of their role does not entirely change, though.

Finance professionals will still be needed to analyse and interpret financial reports to help steer the company to success and gain a competitive advantage over other companies in their market. Understanding Big Data and A.I. technologies and keeping up to date with the latest industry trends is certainly highly beneficial to professionals in finance for them to able to successfully analyse and predict market trends, develop financial models, set budgets and assist on other deals and negotiations, which are just a few responsibilities of finance professionals in today’s digital age. Thus, this means that as more opportunities are presented to finance professionals, it is ultimately in their hands to make the most of the fruits of the digital age.

Moreover, in order to ensure that companies continue to flourish sustainably, the right investments need to be made in the right areas. So much is being said about investing in the right Tech skills and seeking the right talent solutions in Tech, yet although such expertise will undoubtedly provide excellent tech infrastructures for the company, the right talent in Finance is needed to make clever use of these innovative tools in order to intelligently shape effective financial solutions to drive business value and growth. The rise to greater decision-making responsibilities thus leaves the finance professional with extended room for career progression.

Companies should therefore invest in this segment of talent, and also nurture their in-house talent by providing them with learning opportunities to sharpen their skills and gain insight on evolving industry practices through digital innovation. Since the importance of the financial analyst is increasing through the technological innovations of our time, it is wise for companies to identify their skills gap to recognise if this lucrative role is needed, assessing how beneficial it will be for the company in the long run.