By Jessica Bown StudentsWhat employers want: the importance of being tech savvy in accountancy today11 Nov 2022 Whether you want to work for a multinational that values data analysis or a small firm that needs its employees to understand a range of software packages, technological skills will vastly improve your chances of getting your dream job in the industry today.In fact, 88% of businesses agree that an understanding of technology is important for accountants, according to a recent survey from marketing agency PracticeWeb. And 66% would pay a tech-savvy accountant more – meaning honing your IT skills can also boost your earning power in the early stages of your career.The significance of technologyAs accounting giant PwC UK, which describes itself as “a community of solvers, combining human ingenuity, experience and technology innovation”, concludes in a recent report: “With technology permeating every aspect of society and every function within organisations, upskilling and expanding the pools of technology-savvy employees is no longer a nicety.“It will increasingly determine whether you remain competitive and relevant or not.” Craig Moore, founder of Cannock-based accountancy practice CJM Associates, agrees.“Over the last 15 years the significance of technology within the accountancy sector has increased enormously,” he says. “Knowledge of different software programmes and proficiency in data manipulation and interrogation are now considered basic skills.“And other than years of accountancy experience, technological competence is generally the highest regarded skill on any CV.”Here are five ways to gain the tech knowledge you need to succeed.1. Get onlineThe internet is a great place to learn more about what technical skills will be useful to you for a career in accountancy and how to acquire them.You can attend webinars, join forums, research training opportunities, and complete the online courses offered by many software providers.For accountants working for smaller companies and – soon – self-employed individuals and landlords, the government’s Making Tax Digital (MTD) initiative has made understanding a range of software programmes even more crucial because they have to keep digital records and submit VAT returns via HMRC-recognised MTD software.Top tipIf you’re keen to work at a particular local bookkeeping or accounting firm, it’s worth trying to find out what types of software it uses. That way, you can watch tutorials and maybe even take a course in the firm’s chosen tools.“New employees are obviously given training in specific software programmes when they start,” Moore says. “But additional learning of this kind will stand candidates in very good stead.”2. Master ExcelExcel continues to be one of the most valuable tools for accountants in a variety of roles because it offers such a great way to organise and manipulate data.“At a medium-sized practice, advanced excel skills are always useful, while for more specific roles they are a must,” Moore adds.Doing an online course in the ins and outs of Excel could therefore prove a bonus when applying for your next job.3. Understand AIAI and machine learning is the key focus area of investment for 48% of companies in the UK, according to a recent KPMG survey. Paul Henninger, head of data, AI and emerging technologies at KPMG UK, says: “As the amount of data accessible to businesses grows, adoption of AI and machine learning does too as businesses look at the best ways of processing and learning as much as they can from the data at their fingertips.“Establishing a platform that can make data truly useful is central to improving customer experience and business efficiency.”As such, developing an understanding of AI is a wise move, wherever you want to work.“From Corporate and Digital Analytics, to People and Workforce Analytics, we have a large range of data analysis roles available,” Deloitte tells visitors to its Careers page. Top tipThere are several charities that may be able to help you attain tech skills such as data analysis. Tech She Can, for example, aims to inspire and educate girls and women to pursue technology careers.Other organisations worth checking out include WorldSkills UK and techUK.4. Conquer the cloudThe cloud is fast becoming a cornerstone of business for companies of every size and sector, both in the UK and beyond.KPMG’s figures suggest that 79% of UK organisations are currently migrating strategic workloads to the cloud.Some knowledge of the cloud is therefore likely to be highly beneficial, whatever type of company you hope to join.If you want to specialise in cloud accounting, meanwhile, there is a wide range of positions available at leading accounting and consultancy firms. These include cloud engineer and cloud strategy consultant.5. Grasp cyber securityCyber attacks are a major concern for businesses of all kinds, and accountants are no exception.Most of the big firms now have separate cyber security departments to protect both themselves and their clients from online criminals such as hackers and scammers.What’s more, there’s a notable shortage of candidates with the necessary skills to take on these jobs, which also tend to be comparatively well paid, even at entry level.Top tipWhile tech training courses look good on your CV, evidence of real-life experience is even better – but can be difficult to find while you’re still studying.One way around this is to offer your time and expertise to a charity, many of which are constantly on the lookout for volunteers with tech skills.Further reading5 types of digital tools accountants need to understand nowThe science of studying: how to make it work for youMaking accountancy digital: the technology clients and employees are expecting as standard Jessica Bown is an award-winning freelance journalist and editor.