4 Tips That Will Help Your Accounting And Finance Team Deal With Technological Change

Article Written by : RAC Maghreb

Businesses are often under pressure to change to face new commercial opportunities, government regulations, and standards. To ensure that your accounting and finance team are ready for technological change, here are some simple tips that will help them stay on track.

Understand the skills of your team – Look at investing time on understanding what your finance team’s strengths and weaknesses are using face to face interviews and questionnaires.

Invest in new skills – Target your training and development around improving your finance team’s technical skills and by providing them with software and hardware that will help them do their jobs better.

Embrace mentoring – Mentoring is a cost-effective way to improve the capabilities of your finance and accounting staff. Most younger employees will be well-versed in new technologies and can help senior staff understand new systems and processes.

Take note of the ‘skills-application’ gap – Give your finance team sufficient time to grasp new technologies and learn new ways of doing things. While your team is learning, provide them with the necessary support to make their transition smoother.

Business heads should remember that new evolutions are exciting but can cause pressure within teams. Therefore, look at embracing new technologies while providing the necessary skills and time that is needed when making large transitions. Instead of asking the question of when a new technology will be implemented, ask your team what they need to make their transition easier.