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To stay ahead, business and finance professionals, at all career levels, must embrace data and analytics as a strategic asset
The demands and day-to-day operations of finance professionals continue to change thanks to technological developments, an increased focused on sustainability, and the complexities of global operations. And within these changes, are four key trends for 2025 that will advance greater change within the management accounting profession.
By monitoring these trends and staying informed, you can take a strategic approach to meeting your organisation’s needs, support decision-making, and enhance innovation.
Trend one: Stay abreast of the digital transformation
Automation and artificial intelligence (AI) continue to redefine how daily tasks and projects are completed. The intent of implementation is to streamline routine and tedious tasks, enabling management accountants to provide strategic insights and predictive analyses — enhancing their role as trusted advisors. This holds true for any business professionals as well.
In a fast-moving, fragmented, and uncertain business world, data-driven decision-making is vital. To stay ahead, business and finance professionals, at all career levels, must embrace data and analytics as a strategic asset. This enables the generation of insights from large data sets, identifying potentials risks early on, and making better connections between financial and non-financial information. When AI and automation are employed, less time is spent on routine tasks and more time on delivering actionable insights, supporting decision-making, and driving execution.
Trend two: Integrated thinking reveals a bigger picture
Financial information is just one element in the overall picture of an organisation’s health. An integrated approach to business includes analysing non-financial information, such as environmental impact, employee engagement and satisfaction, product quality, and customer loyalty.
The inclusion of these and similar data points offers holistic insights to strategic decision-making and drives organisational resilience. Review what your organisation is currently monitoring and see where you and your team can expand your organisation’s monitoring efforts.
Trend three: Navigating complex regional challenges
Any job has its challenges, but you must also understand the inherent complexities of simultaneously navigating regulatory, diversity, and operational challenges within your region and the world at large. To do this effectively, it’s recommended to grow your expertise in both local compliance requirements and financial practices as well as global trends impacting business.
In addition to becoming versed in compliance, don’t overlook the importance of job performance skills such as empathy, communication, critical thinking, problem-solving, and collaboration. These skills are critical — for both managers and staff — to build strong relationships with stakeholders, question constructively, communicate insights effectively, and work collaboratively to support strategic initiatives and organisational success.
Trend four: Strong storytelling and ethical practices are intertwined
With a broader picture of what our organisations encompass and do, storytelling is more important than ever.
The ability to translate complex data into compelling narratives is crucial for effective communication and building better relationships with businesses and community partners — especially as you and your team employ integrated thinking. A more complete picture of the organisation also drives long-term value creation.
Equal in importance with storytelling is ethical integrity and decision-making — they’re intertwined. Stakeholders and shareholders need trustworthy and reliable information from sources they can trust.
Additional areas for professional development
These four trends can guide you on your professional development journey this year, and overall, help you and your organisation grow.
There are three additional areas we can consider in this effort.
Offering more opportunities for graduating young talent to familiarise themselves with the profession can inspire and attract the next generation of accounting and finance professionals. Growing partnerships between educational institutions and businesses is where we can start.
Earning professional designations like the Chartered Global Management Accountant (CGMA) designation from The Chartered Institute of Management Accountants (CIMA), can help you showcase your business and financial expertise to Sri Lanka-based employers and the world at large.
And right now, we can all commit to becoming lifelong learners, ensuring we are up to date on professional trends, able to adapt to change, and employ new competencies that will help us stay relevant in this competitive market.
By understanding and adapting to these emerging trends in finance management accountant professionals can enhance their strategic value and contribute to the success of their organisations.
(The writer holds an FCMA (UK), CGMA, MBA, and is Country Manager — Sri Lanka and The Maldives, AICPA & CIMA, together as the Association of International Certified Professional Accountants.)