TFS Gulf
  • All categories
    • inPractice
    • Entrepreneur Story
    • Finance Leaders
    • Videos
TheFinanceStory
No Result
View All Result
  • Login
  • Register
Book 1:1 session with industry experts!
  TFS Gulf
  • All categories
    • inPractice
    • Entrepreneur Story
    • Finance Leaders
    • Videos
The finance story
No Result
View All Result
  • Login
  • Register
Book 1:1 session with industry experts!
The Finance Story
No Result
View All Result

Finance professionals should master coding?

As the finance industry undergoes a transformation, professionals in this field must adapt to new technologies and acquire new skills such as data analysis, or learning programming languages like Python.

Preeti Mondal by Preeti Mondal
Published date: 30th July, 2024
Last edited date: 27th August, 2024
SHARE (0)
Share on FacebookShare on Twitter
  • As the finance industry undergoes a mind-blowing transformation, professionals in this field must adapt to new technologies and methodologies.
  • Sure, ChatGPT won’t be snagging your job, but here’s the kicker: the tech-savvy professionals in your domain are already leveraging AI for efficiency.
  • At The Finance Story Bangalore event, Dipanjan Basu, Co-founder and Partner at Fireside Ventures, Saradha Govindarajan, CFO of Veranda Learning, Sriram Iyer, former MD at Accenture India, and Raghav Swaminathan, CFO at Wipro Enterprises dived deep into the rapid changes reshaping finance roles.

Importance of Python in finance

Dipanjan highlights the critical need for programming skills among finance professionals.

With the advent of tools like ChatGPT, many traditional finance tasks are being automated, making programming an essential skill.

Saradha recalls her experience of forming business finance teams composed of engineers with MBAs from top business schools.

She mentions, “In the last two companies that I worked with, I formed a business finance team of engineers who had done their MBA from IIM or a top business school. We also sponsored them for programs to learn Python, and we built our own BI tools. That’s very much the requirement today. Without that, I don’t think a finance team can function.”

Role of data analytics in finance

Dipanjan reflects on his CFO days at Myntra.

He notes that except for the core controllership team, the business finance side was primarily staffed by individuals from engineering backgrounds.

This shift was driven by the need for advanced data analytics, which could not be managed using traditional tools like Excel.

The role of business finance in our e-commerce company revolved primarily around analytics and data.

The sheer volume of information they dealt with was far beyond what could be managed in Excel.

Consequently, they had to run complex queries and write code to derive meaningful insights from that massive dataset.

Also read: This 28-year-old Big 4 Risk Advisory professional shares how he is adapting to AI & Automation

future of Planning and Analysis

Sriram envisions a future where finance roles are divided into planning and analysis.

He predicts that the planning process, traditionally a lengthy exercise, will become more streamlined, relying heavily on historical data and industry cycles.

This shift will significantly reduce the time spent on planning, potentially rendering some roles obsolete.

The focus will shift towards analysis, which, while becoming a standard requirement, will demand a deeper understanding of business dynamics.

Sriram adds, “I see the planning process coming down from a month and a half to maybe 4-5 days.”

Leaner core finance workforce

Sriram foresees a significant reduction in the number of finance roles due to automation and transformation efforts.

The trend towards creating pools of common resources and standardizing skills across roles will lead to a leaner finance workforce.

Also read: Germany is facing a shortage of finance talent: Here is why they are looking at India to fill the gap

Wrapping up

The finance industry is undergoing a significant transformation driven by automation, data analytics, and the need for new skills.

As automation continues to reshape finance roles, professionals must adapt by diversifying their skills and focusing on broader business functions.

And as Sriram says, “You won’t be the same finance professional you were a year ago or five years ago.

You’ll need to be more like a business development (BD) professional who understands finance better than a traditional BD professional.”

Preeti Mondal

Preeti Mondal

Recommended for you

Microsoft fires 6000 employees...To sharpen focus on AI
News

Microsoft fires 6000 employees…To sharpen focus on AI

20th May, 2025 | 4 mins read
The U.S. has imposed massive tariff hikes on over 180 countries. Indian exports now face a new tariff rate—lower than China or Vietnam, but there is a catch. To unpack what this means for India, we sat down with Robin Banerjee, a seasoned CEO and global trade expert.
CEO

U.S. Hit The World With Big Tariffs. Modern-day Great Depression?

9th April, 2025 | 9 mins read
Saudi Arabia sees massive surge in Data Centres
Technology

Saudi Arabia sees massive surge in Data Centres

11th March, 2025 | 4 mins read
Keir Starmer aims to make the UK a global leader in artificial intelligence, hoping to boost the country's struggling economy. His administration estimates that AI could add £47 billion ($57 billion) to the UK economy annually over the next decade.
News

UK will appoint headhunters to recruit top global AI talent

14th January, 2025 | 3 mins read
Bench Accounting: $113Mn+ VC-Backed Automated Bookkeeping Startup Shuts Down
Fintech

Bench Accounting: $113Mn+ VC-Backed Automated Bookkeeping Startup Shuts Down

30th December, 2024 | 5 mins read
How CFOs can prepare for geopolitical tensions in the Middle East
Expert Opinion

Middle East crucial to the global and Indian economies?

19th October, 2024 | 6 mins read
Next Post
Evolved CFO role: From number crunchers to strategic masterminds

Evolved CFO role: From number crunchers to strategic masterminds

Start conversation Cancel reply

Your email address will not be published. Required fields are marked *

1:1 career advice platform

  • Manager

    Investment Banking (Front Office) at HDFC Bank.

  • Finance Director

    at Procter & Gamble (P&G)

  • Strategic Program & Ops Manager

    Risk and Internal Audit at Accenture

  • Vice President

    at Alcazar Capital

  • Manager ACR

    Accounting, Compliance and Reporting at EY

  • Senior Accountant

    at BDO Canada LLP

  • Regional Financial Coordinator and Project Manager

    at TotalEnergies

  • Accounts Manager

    at Sterling Perfumes Industries LLC (Fakhruddin Holdings)

BOOK 1:1 CALL

1:1 career advice platform

  • Manager ACR

    Accounting, Compliance and Reporting at EY

  • Senior Accountant

    at BDO Canada LLP

  • Regional Financial Coordinator and Project Manager

    at TotalEnergies

  • Accounts Manager

    at Sterling Perfumes Industries LLC (Fakhruddin Holdings)

BOOK 1:1 CALL
The Finance Story

The Finance Story empowers finance professionals—CFOs, consultants, accountants, tax experts, and bankers—to navigate critical market shifts, industry disruptions, and emerging technologies & trends.

How? We spotlight key opportunities in India and globally, equipping finance professionals with the insights and strategies to drive business growth, optimize decision-making, and position their companies at the forefront

Quick Links

  • Finance
  • Partners
  • Privacy and Policy
  • Terms of use

Follow us

  • /TheFinanceStory
  • @TheFinanceStory
  • /TheFinanceStory
  • @thefinancestory_com
  • TheFinanceStory

© 2022. The Finance Story. All Rights Reserved.

No Result
View All Result
  • TFS Gulf
  • Entrepreneur Story
  • Finance Leaders
  • Videos
  • Login
  • Sign Up

Welcome Back!

Sign In with Google
OR

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Sign Up with Google
OR

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
We use cookies to personalize your experience. By continuing to visit this website you agree to our use of cookies.
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?
Book 1:1 call with industry expert