Preparing Finance Professionals to be the Business Advisors of the future.

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A Business Advisor is there to guide their clients, or their employer, through the critical decisions that set them on the path to growth.  But, as the digital economy grows and businesses turn increasingly to data for insight, a new type of Advisor is needed.

This is someone who can help businesses become more digital in operation and turn the analysis of data into business intelligence.   Those businesses therefore make decisions based upon a solid foundation of evidence transforming their ability to grow.

Paul Clarke describes the opportunity

A Business Advisor is there to guide their clients, or their employer, through the critical decisions that set them on the path to growth.  But, as the digital economy grows and businesses turn increasingly to data for insight, a new type of Advisor is needed.

This is someone who can help businesses become more digital in operation and turn the analysis of data into business intelligence.   Those businesses therefore make decisions based upon a solid foundation of evidence transforming their ability to grow.

This new role is the Business Advisor of the future.

  And we at Develin can help you to become one.

To find out more please contact us by clicking here.  Or go to our Knowledge Portal for Business Advisors by clicking here.

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1. A vital role within the digital world

There is a shortage of digital and data related skills amongst SMEs within the South East Midlands within the UK.

This is based upon reports that sit behind the Strategic Economic Plan for the region (e.g. the Growing People Skills Strategy published in November 2017).

It’s hard to estimate the extent to which this is stunting the performance of these ‘engines of economic growth’.  But, it will be enough to matter.

This is because, without the right skills, there will be a world of data within easy reach of SMEs not being used to its full potential.  This is data that can yield insights into the lives of your customers, or show you ways to take cost out of your business, or provide opportunities for new lines of business.

This data is not all in one place.  Some of it is held within the business, some is held by suppliers and customers, and some (perhaps the most valuable) is out there in cyberspace.

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For example, imagine you are a mini Amazon and you ship what you sell by courier.  Your own data will tell you when stuff gets picked up for delivery – important to know because it will tell you if things are working ok.

The courier will have data that shows when it reaches the customer – essential to know because it will tell you if a delivery is late.  And on-line posts will indicate to the world what your customer thinks about you.

Businesses need an advisor who can show them what data they have within their reach and what sort of decisions become possible if it can be used.

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We believe, that their Accountant is ideally placed to perform this role.

The world of Accountancy is changing.  New technology is transferring many of the routine accounting tasks away from the Accountant and into the hands of their clients.  But this represents a great opportunity for Accountants to build new business advisory services for their clients.  With our help, they can place business intelligence at the heart of those services.

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It starts by rethinking what it will mean to be a Business Advisor in the future and how you can guide a client through the world of small data, big data, alternative data, digital automation and machine learning.  It is a role that involves demystifying technology, decoding jargon, understanding what the critical unanswered questions are, and knowing what a client needs to do with their data in order to find answers.

Accountants are ideal candidates for this role.  They know their clients’ business, they are already there as a trusted advisor, and they understand what their clients have to do well in order to grow.

We are here to help those Accountants who want to take on this challenge to benefit from those considerable strengths within the world of data, analysis and intelligence.

We are working in partnership with three outstanding organisations:   The Biztech Technology Forum based in Milton Keynes,  BPP Professional Education  (within which Develin teach and present), and Keen Shay Keen MK Chartered Accountants and Business Advisors who are piloting the service.

This is the first of a regular series of blogs about the service.  Within each we will describe another part of the journey to becoming a Business Advisor of the future.

To find out more please contact us by clicking here.  Or go to our Knowledge Portal for Business Advisors by clicking here.