How to Attract Top Talent for the Digital Transformation of Finance

The digital transformation, driven by AI and cloud technologies, is revolutionising accounting. These technologies are fundamentally changing financial processes and accounting practices. For businesses and their CFOs, this means they must not only embrace these new technologies but also find and retain the right talent to thrive in this dynamic environment.

“The shortage of skilled professionals is prompting companies to increasingly rely on digital solutions and automation through AI and cloud technologies to improve efficiency,” says Hande Bostan-Caruso, Associate Director and Office Head Frankfurt am Main at Robert Walters. The demand for professionals with both traditional financial knowledge and technological expertise is on the rise.

Talent acquisition in the digital age: skills for the future

AI enables the automation of routine tasks and opens up new opportunities for finance professionals to focus on more strategic responsibilities. According to forecasts, AI-supported process optimisation could reduce time spent on manual tasks by up to 30% by 2025. However, this requires new competencies in data analysis and AI management.
Cloud technologies, such as Microsoft Business Central, allow for real-time data analysis and improve decision-making.

The relevance of cloud solutions is further highlighted by findings from the Robert Walters Salary Survey, which reveals that 62% of finance and accounting professionals feel comfortable using AI tools. At the same time, only around 27% of finance talent receive appropriate AI training. This underlines the need to invest in employee development. Digital transformation is also creating new roles, such as Finance Data Scientist and Tax Tech Specialist, which require a combination of analytical skills and strategic thinking.

New demands and job profiles in finance and accounting

Digital transformation is also giving rise to new job profiles in finance. Interface roles between finance and IT, as well as specific positions such as Finance Data Scientist and Tax Tech Specialist, are becoming increasingly sought after. These roles require a blend of analytical capabilities and strategic acumen to drive data-based decisions and conduct complex financial analyses.
The shift in job requirements is also reflected in the growing use of technologies like SAP HANA and Microsoft Dynamics, whose presence among finance professionals’ skill sets has increased by 47% and 22% respectively in the past twelve months.

Data security and compliance

With the greater use of digital solutions, data protection and compliance are gaining importance. CFOs must ensure that robust data protection and governance frameworks are in place to safeguard sensitive financial information. One example is the DORA EU regulation, which aims to strengthen the digital resilience of financial institutions.

Outlook and recommended actions

The digital transformation of accounting presents numerous opportunities for professionals and businesses. Hande Bostan-Caruso advises: “It is vital for finance professionals to expand their technological capabilities and actively engage with new digital tools to succeed in today’s finance landscape. Companies willing to invest in this talent and these technologies will gain a clear advantage in the digitalisation of finance and accounting.”

Strategic talent acquisition as a competitive advantage

Securing the right talent is key to the success of digital transformation. CFOs must recognise that recruiting experts in areas such as data analytics, AI and cloud technologies is a strategic priority. Partnering with a specialised recruitment consultancy can provide a significant advantage. Recruitment experts possess the know-how and network to identify candidates who meet specific requirements and support companies in developing attractive compensation packages.

In summary, the digitalisation of accounting is not only transforming existing processes but also creating new opportunities for innovation and growth. The future of accounting is digital – and it starts now.