How AI is Transforming Transactional Finance Roles and the Importance of Upskilling

Accounts payable

Accounts Receivable

Credit Control

Payroll

The Importance of Upskilling

As AI automates routine tasks, the role of supervisors and managers in finance is evolving. Current transactional staff must adapt to stay relevant. Upskilling is essential for career progression in this evolving landscape. By gaining new skills and competencies, transactional staff can transition into more strategic roles and take advantage of new opportunities created by AI advancements.

Key Areas for Upskilling

Steps to Begin Upskilling

Self-Assessment: Identify current skill gaps and areas for improvement. Set clear career goals and determine which skills are needed to achieve them.

Seek Educational Opportunities: Enrol in relevant courses and certifications, such as data analytics, AI in finance, and project management. Utilize online learning platforms (e.g., Coursera, edX, LinkedIn Learning) that offer courses on these topics.

Leverage Workplace Resources: Participate in training programs and workshops offered by employers. Engage in cross-training opportunities to gain exposure to distinct functions within the finance department.

Network and Mentorship: Join professional organizations and attend industry conferences to stay informed about trends and best practices. 

Seek mentorship from experienced colleagues or industry professionals who can provide guidance and support.

Practical Experience: Apply new skills in real-world scenarios by volunteering for projects or initiatives within the organization. Take on additional responsibilities that allow for the application of newly acquired knowledge.

The Future of Managerial Training

For managers, the future will require a blend of technical expertise, analytical skills, and leadership capabilities. Training programs will emphasise data analysis and interpretation, familiarity with AI tools, change management, and ethical considerations. Continuous learning will be essential to stay updated on the latest AI developments and best practices.

Conclusion

Explore transactional finance jobs with Marks Sattin 

Our part-qualified and transactional division is one of our most established teams in the business. They have the in-depth market knowledge and expertise to place high-quality candidates across a variety of sectors including retail, FMCG, telecoms, media, technology, property, construction, pharmaceuticals, healthcare, legal, travel and tourism. 

If you are looking to recruit or be hired as an accounts payable or receivable professional, then explore our finance and accounting division at Marks Sattin.