Financial management is witnessing a massive and ongoing emphasis on digitization and the adoption of new and emerging technologies to improve operational efficiencies and provide superior customer experiences
Fremont, CA: Management graduates are taught financial management at business schools, which includes aspects such as organizing, strategic planning, directing, and controlling financial endeavors in an organization.
Management graduates also learn how to apply management principles to an enterprise's financial aspects, as well as key aspects related to critical financial decisions. Capital structure, capital budgeting, as well as working capital management are some of the fundamental concepts taught.
Graduates who enter the finance workforce contribute significantly to the organization's financing, investment, and dividend policy decisions. One of the primary roles of a large organization's financial management team is to maximize shareholder wealth to make sure that shareholders earn the most wealth for their investment.
There are a few emerging trends in finance management that management graduates must understand in order to remain relevant and efficient in the future workforce.
Digital Transformation
Financial management is witnessing a massive and ongoing emphasis on digitization and the adoption of new and emerging technologies to improve operational efficiencies and provide superior customer experiences.
Finance is being transformed by the application of artificial intelligence, big data analytics, and machine learning. There are financial management tools, technologies, and platforms, and having hands-on experience will be extremely valuable to the next generation workforce.
Digital Finance
The next financial management trends are digital finance and digital money (DFDM). DFDM encompasses a slew of new financial products, finance-related software, financial businesses, and new forms of customer communication and interaction, all of which are delivered by FinTech firms and innovative financial service providers.
Many banks and traditional insurance companies are now competing with 'FinTech' companies that release new products and services almost every month.
The next generation of financial managers must learn new ways to reach out to and engage with technologically savvy clients, as well as have a firm grasp on DFDM.
