Introduction

Recently, I had the opportunity to source candidates for an FP&A Manager role where one of the key requirements was advanced IT skills, including advanced Excel, Power BI, and SQL. Whilst Excel is a familiar tool in finance, Power BI and SQL are slightly newer business analytic tools and have been evolving over the years. In the process of speaking with candidates about the role and their skill match, I learned a great deal about these technologies and their advantages, which got me thinking about how vital these skills will become for the next generation of accountants.

As technology continues to evolve, so does the accounting profession. The integration of advanced tools such as Power BI and SQL into financial analysis allows for greater efficiency, deeper insights, and more data-driven decision-making. But how do accountants of the future learn these skills? And how can they stay competitive in an increasingly tech-driven field?

To offer a deeper understanding of this, I reached out to the talented Fiona McNally, Finance Business Partner, Leeds Bradford Airport who uses these technologies in their day-to-day work. Here are a few key insights they shared:

Interview Insights:

How did you learn about Power BI and SQL?

Get stuck in! Excel VBA was my first introduction and it was key in my first role after university because there were a lot of repetitive tasks that took forever to do manually so we used Excel macros to automate them. I learned it simply by trial and error, and plenty of googling. As I picked up VBA I moved on to using Access databases and Microsoft Scheduler so I had to learn SQL too in order to develop these processes. Power BI has been brought into every workplace I’ve been at so I’ve always been part of the implementation teams as I just love it. It’s so powerful and much better (and prettier) than doing everything within Excel.

What are the advantages of using these technologies?

Speed is the biggest advantage. I can build something that will run by itself, either after I press a button or even at a certain time every day. It means I get to spend more time looking at the results and interpreting them which is where the real value-add part of my job comes in. And it's always handy when you can set something running and go make a brew and know it’ll be finished when you get back instead of having to manually copy and paste things for two hours.

How can you see technology changing the accounting field in the future?

In simple terms, I think technology will push us away from the repetitive number crunching and more into the storytelling. The great thing about accounting (for me!) is the rules, in terms of producing reports there are usually specific steps that need to be done in order to get the outputs. This can be repetitive and boring; which makes it ideal for automation! It will free up time to dig into the numbers and allow accountants a greater ability to understand why the numbers say what they do which is where we can help more with the strategic decisions within a business.

What challenges did you face when learning Power BI and SQL, and how did you overcome them?

It can be tricky to learn the languages and frustrating when things don’t work. But the key is perseverance. Don’t be afraid of breaking it (save a backup!) because the more errors you make, the more you learn. Plus, I’m yet to come across an issue that hasn’t been resolved by somebody else and shared online. It can also be time-consuming initially to get things built so keep remembering that in the long term it will save you so much time, you’ll wonder how you ever did your job without it. It is absolutely worth the investment.

How do these technologies improve decision-making and financial forecasting?

Power BI is great for visualising which is a huge help when providing insights for non-financially minded managers who need the graphs to be simple and quick to flag where there is an area of concern so that resources can be put in the right places to help make the right decisions.

What advice would you give to someone looking to upskill in Power BI or SQL?

Just try it. Get stuck in. especially with Power BI which is more about visualising the data, rather than changing the data, there is actually very little you can do to actually break it. So have a play with the visuals and see what you can come up with. There are also plenty of free videos on YouTube, learn.microsoft.com, stackoverflow.com and many others. If you can, I’d also recommend a LinkedIn learning licence because there is so much available on there to help get you started

How important is it for accountants to stay updated with new technologies in finance?

I think it's extremely important. Technology is adapting so quickly that you’ll struggle to find a job in finance now that solely uses Excel formulas. There are so many technologies available though that I don’t think being an expert in all of them is realistic either. So, I think the most important thing for accountants to do is embrace change, don’t be afraid of it, and just try.  

My overview:

Upskilling in areas such as Excel, Power BI, and SQL can provide a significant advantage in the job market. These skills are increasingly in demand, and those who can demonstrate the skills will stand out to potential employers. After chatting with Fiona, it became clear to me how important these tools are and how advantageous they can be for young accountants.

There are many ways to develop your skills in these areas. In addition to formal training courses, platforms like LinkedIn, YouTube, and TikTok offer accessible tutorials and tips, making it easier than ever to upskill at your own pace. With AI being so readily available, tools like ChatGPT can also be used to ask relevant questions and support your learning. As I said to a candidate this week, using these tools, as well as AI, is like having a master Yoda next to you.

The technology is there for young accountants, so make the most of it.

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Leighton Thomas – Read my Q&A here

Mobile: 07732 495 873

Email: leighton@pratappartnership.com

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Read my other 'Your Career in Finance' Articles in my series here:

• Qualifications
• Post Qualification
• Upskilling -Technology in Finance