Finance is an integral part of every business. From financial planning and forecasting to managing cash flow, accurate and insightful accounting and analysis can differentiate between success and failure.
According to Garner, a driving factor for many finance transformation efforts is to drive productivity and cut costs. The best way to start evaluating the areas that need improvement is to benchmark the metrics that are key to finance operational efficiency.
Read on to learn how to explore the three skills that employers value most in finance professionals: financial modeling, budgeting, and data analysis and interpretation.
1. Financial Modeling
One of the most important financial skills that employers value is understanding and interpreting financial statements. Financial statements provide insights into a company’s overall financial health and performance. They can be used to identify trends and make predictions.
Understanding financial statements is a valuable skill for any finance professional. It shows that you can critically analyze information and make sound decisions based on your findings. Again, this is a skill that will benefit any career.
Another important finance skill that employers value is the ability to create accurate and insightful financial models. Financial modeling is used to forecast a company’s future financial performance. This skill requires strong analytical and mathematical skills and the ability to think creatively. Again, this is a skill that will benefit any finance career.
3. Data Analysis & Interpretation
Data interpretation and analysis is an important skill for employees to learn. By understanding how to interpret data, employees can make better decisions about their work and improve their productivity. By following these tips, employees can improve their data interpretation and analysis skills, making them more productive and efficient in their work.
How to improve your data analysis & interpretation skills:
1. Know your audience. Make sure you understand who will be reading your analysis and tailor your interpretation accordingly.
2. Be clear and concise. Data interpretation can be complex, so it’s important to communicate your findings in a way that is easy to understand.
3. Use visuals. Using graphs, charts, and other visuals can help make data interpretation more effective.
4. Practice critical thinking. When interpreting data, it’s important to think critically and consider all possible explanations for the results.
5. Seek expert opinion. If you’re unsure about how to interpret data, seek out expert opinion from someone with more experience.
Learn the Finance Skills Employers Value
There are several finance skills that employers value. These include budgeting, financial analysis, and forecasting. If you can demonstrate these skills in your job application and during interviews, you will be in a solid position to land the job you want.