How automation can free up time for upskilling existing talent

LONDON, UNITED KINGDOM, April 14, 2022 /EINPresswire.com/ -- In an article published on Business Reporter, Marc Huffman, CEO of accounting automation software leader BlackLine talks about why automating the Finance and Accounting (F&A) function is key to addressing the growing talent shortage problem. The number of Mergers and Acquisitions (M&A) reached a record high in 2021 with 32 per cent of respondents in BlackLine’s Generation Future Finance research saying that their focus is on international markets for growth and acquisition. This trend puts F&A professionals under enormous pressure. Therefore, developing existing talent and hiring new talent is more important for the function now than ever. CFOs are also acutely aware of where their skills are lacking, listing leadership skills and strategic thinking where they would like to improve the most. But what really impedes not only their personal professional development but also the efficiency and competitiveness of the F&A function is the struggle to develop digital skills.

To accelerate the digital transformation of the F&A function and enable it to cope with the rising tide of M&A activity, businesses need professionals who have the right level of financial, as well as technical skills. But offering training programmes for F&A staff where they can hone their digital skills is not enough by itself. They certainly won’t have either the time or the motivation to participate in these schemes as long as they need to engage in repetitive, manual tasks for most of their working days. Automating the most repetitive financial processes, such as account reconciliations or intercompany transactions, however, can free up F&A professionals’ time and enable businesses to build strategic talent pipelines.

To learn more about why automating F&A is key to talent management, read the article.

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