In planning how to survive and thrive in the current climate there is a temptation to search for a magic bullet; something that will dramatically reduce costs or improves sales. It may be a cliché to say we manage what we measure (and report), but today more than ever it is true. The time is now right to ask whether we have been measuring the right things in the right way and communicating them appropriately to the right people.
This puts a focus on how adept we are at using the technology at our disposal, to identify potential opportunities and sources of revenue. In reality, the way to improve on costs and sales is right in front of us. The efficient use of programs such as Excel, Outlook and even PowerPoint allows you to view and communicate the performance of key metrics and move swiftly through layers of data to identify the critical information. When staff are proficient in MS Office they can share ideas and collaborate seamlessly. Increased information technology skills promote real data analysis as well as data collection; people can use the information rather than merely input the data.
Chartered Accountants are key leaders in difficult financial circumstances. They need to stay organised and proactively manage emails, tasks and diary using programs such as MS Outlook. They need the ability to perform complex data analysis, and guide strategies and tactics by showing their effect on profit and cash flow before they are adopted by using MS Excel. At the most basic level, preparing timely, professional-looking reports using MS Word is a day to day requirement.
While the global recession may mean that L&D budgets are under pressure, there has never been a greater need to find new ways to improve and maintain employee and organisational performance. Every employee has something to track, something to measure, and something to monitor. Excel is the ideal medium in which to accomplish these tasks, and most employees already have it installed on their computer. However, most employees have had no formal training on the software they are expected to use effectively in their day to day activities. Even people who have mastered the key elements are not using the software productively. These untrained users may waste hours and even days performing inefficient tasks, creating unnecessary stress and delays.
As employment relationships are becoming more diverse within organisations, one consequence is that individuals are now required to take ownership and responsibility for their own career management. This new career management strategy requires individuals to focus on remaining employable across many organisations rather than just one. By including IT training modules into any CPD programme there are benefits for both the organisation and the individual. IT improves the organisation's ability to respond to an increasingly competitive environment and enhances the individual's employability.
ICAI offers a range of IT courses aimed at Chartered Accountants. For more information please see the ICAI website.