Staying Ahead for Finance professionals: The Need for Continuous Development in the Age of Digitalization and AI

In the Business everything begins and ends with finance. That’s why the financial world must be led by highly competent professionals with a holistic and strategic perspective—individuals who can see the bigger picture, connect all the moving parts, and create value. These professionals don’t just manage numbers; they drive businesses toward their objectives, ensuring sustainable growth and success.

This field offers numerous advantages, including competitive salaries and extensive career opportunities. However, the expectations for finance professionals go beyond technical expertise—they must also develop versatile competencies such as emotional intelligence, strategic thinking, presentation, and communication skills.

Moreover, the rise of artificial intelligence (AI) is transforming the industry. Currently, AI is primarily impacting large organizations that leverage its potential to enhance efficiency, improve quality, and reduce costs. However, this shift will soon extend to small and medium-sized enterprises (SMEs) as well. Finance is among the first professions to be affected by AI, making transformation inevitable.

In our previous article, "The Evolving Competencies in Accounting and Finance in the Age of AI", we explored the new skill sets finance professionals must develop. It's important to emphasize that AI is not about replacing humans entirely but rather enhancing their capabilities, enabling them to focus on more strategic tasks. While AI still lacks the trust and abilities required for complex decision-making, the pace of its advancement remains uncertain.

I firmly believe that the finance landscape is evolving rapidly. Finance professionals must adapt quickly, embracing a mindset of "patient aggression"—staying informed, recognizing opportunities in emerging trends, setting clear goals, and steadily working toward them. Understanding these shifts and positioning oneself strategically is essential for long-term success in this ever-changing industry.

Let’s see how Finance professionals can grow in professionalism and career staying in trend.

1. Formal Education and Certifications – is a MUST: A fundamental knowledge base acquired through university education and professional certifications is essential. They provide the ability to think broadly, develop professional judgment, and apply cost-benefit analysis while making a choice effectively. A comprehensive and in-depth study enables us to make strategic decisions beyond technicalities to ensure optimal outcomes for clients.
2. Workplace Experience: Historically, the professional development of finance professionals depended significantly on the size and complexity of the organizations they worked for. In smaller entities, finance professionals typically gained a broad skill set, often engaging in multiple domains such as accounting, tax, cost control, financial planning and analysis (FP&A), and risk management. This cross-functional exposure allowed individuals to develop a well-rounded understanding of business finances, making them adaptable and resourceful. The difference in organizational structures also influenced professional growth trajectories. In smaller companies, professionals had the advantage of broad learning opportunities, enabling them to embrace multiple areas of expertise and position themselves for leadership roles. The lack of hierarchy in such companies often facilitated faster career progression for individuals demonstrating initiative and expertise. On the other hand, finance professionals in large organizations faced a different kind of career journey. While opportunities for vertical mobility were limited to a select few, many employees found ways to excel in their specialized fields. Some could leverage internal rotation programs to transition into different roles within the organization, thereby expanding their competencies and gaining a more comprehensive view of business operations. This internal mobility often prepared them for leadership roles either within their organizations or in smaller, growing companies where their structured expertise was highly valued.
3. Job Changes for Growth and Professional Development: HR and recruiters often favor professionals with long-term tenure while being cautious about candidates who change jobs every 2-3 years. However, frequent job changers are often highly driven individuals who seek professional growth. These professionals deliver immense value, and if companies fail to retain them, they move on to maintain their motivation and relevance. Seeing multiple companies provides an invaluable perspective, enabling finance professionals to develop abstract thinking. This ability allows them to step away from the details—so inherent in positions within large corporations with limited roles and responsibilities—and instead, focus on identifying problems and applying their diverse experience to sustainable solutions. This approach definitely brings many benefits, such as accelerated career growth, higher salary potential, diverse experience, and an expanded skill set. However, in traditional employment environments, frequent transitions may be perceived as a lack of stability and commitment. On the contrary, in dynamic workplaces that encourage professional growth—such as many American companies—a job change after two years in a stable role without promotions or internal rotations is considered normal. In fact, some organizations believe that staying in the same position for more than four years can indicate stagnation, making a candidate less attractive for future opportunities. The key is to have a long-term vision of the career goals a finance professional aims to achieve when changing jobs, rather than focusing solely on short-term gains. Additionally, they should strive to deliver maximum value to their employer to maintain a strong professional reputation and avoid any negative perceptions.
4. Experience in Globally Recognised Consulting Firms (Big 4, Bain, BCG etc). Working in major consulting firms, such as the Big 4, provides invaluable learning opportunities and exposure to diverse organizations and solutions. Additionally, it enhances one’s CV by showcasing experience with globally recognized industry leaders. However, challenges such as work-life balance and limited long-term career growth can arise. Despite this, starting a career in such an environment is often an ideal choice.
5. GBS and Shared Service Centers: Contrary to the common belief that centralized functions merely perform repetitive tasks, Global Business Services (GBS) are designed as centers of expertise. They ensure value through high-quality, efficient services. However, many finance roles in GBS remain highly specialized, with a focus on volume-driven, repetitive tasks rather than high-level analytical work. This can lead to burnout and demotivation over time.

6. Moving to Independent Practice: When a finance professional does not see long-term potential within corporate constraints, another path is independent practice. This route removes limitations, allowing one to step away from traditional roles and apply their knowledge and expertise by offering tailored solutions to each client's unique needs. However, pursuing this path requires a strong level of self-confidence, as it lacks the guarantees provided by an employer. Therefore, it should be carefully thought out. But once the decision is made, don’t hesitate—keep moving forward toward your goal. Definitely this way provides lots f learning opportunities.

The Importance of Digital Literacy

Regardless of the chosen way of learning and developing competencies, it is imperative to develop digital literacy. Finance professionals should be able to operate quickly and efficiently with digital tools to enhance accuracy, efficiency, and decision-making. Mastering financial software, automation tools, and data analytics platforms will be critical for staying competitive in the evolving job market. The ability to adapt to new technologies will ensure that finance professionals can provide high-value insights and strategic guidance to their organizations.

Conclusion: The Future of Finance professionals

The finance and accounting profession is at a turning point. With AI and digitalization, professionals must evolve from being mere operational executors to strategic problem-solvers. The rise of external consulting and interim management roles presents a valuable opportunity for finance experts to thrive in a rapidly changing business environment.

The demand for highly skilled professionals capable of implementing financial transformations and adapting to change will only increase. Those who embrace this model will not only find success but will redefine the very nature of finance expertise in the digital age. No matter how finance professionals choose to grow their expertise and shape their careers, one thing remains clear—we must stay in tune with the latest trends to remain competitive and relevant.