One might think that accounting is all about crunching numbers. So what does creativity have to do with this niche field? A recent report by the World Economic Forum found that 73% of accounting firms regard creativity as one of the most essential skills. For accountants, there has to be a key focus on logic, there is no doubt about that. But in today’s world, that is not enough. Creative thinking comes in handy when you need to take a problem-solving approach, make important decisions, and make a difference. As an accountant, we are sure that you aim to climb the corporate ladder and become commercial-minded. To succeed in senior roles, you must wear several hats, and being creative is the most important of them all.
In this blog, Finsmart Accounting – trusted globally for outsourced accounting services In India – will help you learn how creativity helps an accountant grow and how accounting firm leaders nurture creativity within their team.
Let’s start by learning about the evolution of soft skills in accounting!
The Evolution of Soft Skills in Accounting
When hiring a candidate in an accounting firm, while the leaders do look for someone who is technically sound, cultural fit is a major area that is paid attention to. Over the years, the right candidate is someone who strikes a balance between the soft skills and the technical skills.
Soft skills allow getting things done in our day-to-day professional lives. They are the foundation of a strong leader and everyone should work towards them if they want to grow. As artificial intelligence continues to boom in the accounting field, the need to give a human touch to your services becomes paramount. Sometimes, they also act as a determining factor in providing great customer service.
How does being creative help an accountant grow?
Everybody wants to grow. No matter at what stage of their careers they are in. Accounting, for the longest time, has been perceived as a traditional and stagnant field. Times are changing now and so is the role of accountants. Today, the accountants who do not update themselves are left behind. Creativity is one skill that helps accountants grow. Here’s how:
– Helps develop a problem-solving approach:
An accountant’s major task is to solve problems. Whether it is balancing books, identifying faults in reconciliation, or simply optimizing financial processes – creativity is a secret weapon. Being creative allows accountants the flexibility to approach challenges with fresh perspectives. With innovative strategies running on their minds, accountants can bring out-of-the-box solutions to the table. The field of accounting is often posed with complex issues. A creative accountant, instead of relying on bookish knowledge, uses their imagination to curate newer approaches that others might overlook. This ability to think creatively enables accountants to tackle the most critical financial puzzles easily.
– Promotes Strategic thinking:
Running their minds swiftly is one of the key ingredients to make for a great accountant. Accountants, today, do not just crunch numbers, they act as strategic partners who sustainably enable organizational growth. Creativity helps foster strategic thinking. Creative accountants possess the foresight to anticipate trends, identify opportunities, and build financial strategies that are in sync with the accounting firm’s goals. From optimizing budgets to meticulous tax planning or exploring new revenue streams – the accountants’ ability to think creatively allows them to stay ahead of the curve and drive meaningful value for clients and leaders.
– Inculcates communication and collaboration:
It is not enough for an accountant to be good at their job – it is equally important to be able to comprehend and communicate that in words. Through effective communication, accountants can convey complex financial information clearly and concisely. Creativity allows accountants to communicate complex concepts through compelling narratives, visualizations, and presentations. From crafting financial reports to delivering presentations, or collaborating with different teams – creativity helps accountants ace it all. It bridges the gap between numbers and narratives. Being creative also helps accountants leave a lasting impression on the firm’s leaders, clients, and colleagues.
– Makes Space for Innovative:
An accounting firm that fails to change with the ever-changing landscape and innovate in all forms is often left behind. Creative accountants help drive change for firms that want to remain innovative and relevant. Being creative helps identify inefficiencies, spot untapped opportunities, and be the torchbearer of new approaches to financial management. Whether it’s a brand-new development in AI to streamline processes or develop a new financial solution or product for clients, creative accountants help firms reimagine business models. Embracing innovation helps firms position themselves as valuable contributors to long-term success and creative accountants are the catalysts.
– Enables personal and professional growth:
Embracing creativity can lead to rapid personal and professional growth for accountants. Being creative allows accountants to challenge themselves every day, expand their skill set, broaden their perspectives, and grow in their roles. Continuous learning and adaptation empower accountants to stay ahead of their peers in an ever-changing environment. It fosters a sense of achievement, as they see the results that their innovative ideas bring. Whether it’s advancing to higher positions, transitioning to new roles, or even pursuing entrepreneurial ventures, creative accountants are ready to ace it all.
Now, you have an idea how creativity helps an accounting grow, let’s understand how accounting firm leaders nurture creativity within their teams.
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How can accounting firm leaders nurture creativity?
Gone are the days when accountants could hide behind a pile of papers all day long. Today, accountants need to go out, learn constantly, understand what is trending, what works and what doesn’t, and collaborate effectively with other teams and clients to ensure reaching their optimum potential. While being creative is one aspect of it, accounting firm leaders also have a responsibility to nurture this skill in their employees. Here’s how they can do it:
– Creating an environment of creativity: For leaders, it is important to build an open team environment where brainstorming is encouraged and welcomed. Conducting regular sessions where inputs are shared and discussed and new ways to solve client issues are addressed. Instead of working and struggling alone, this kind of environment allows everyone to be on the same page and learn from one another.
– Promoting diversity and inclusion: When you build a team that consists of members of different backgrounds and cultures, diverse opinions, and outlooks, you open avenues for new perspectives. People with different skills, experiences, backgrounds, ages, and gender can help stimulate creative thinking.
– Build a culture of feedback and suggestion: We all have something to learn from one another, even the leaders. Often, an accountant may have a great idea for improving the process or a trick that can help with long-pending client issues. Creating a culture of open feedback and suggestions helps promote creative thoughts, thus solving many problems.
– Creating a stimulating physical environment: A dingy, poorly lit, cluttered office space is hardly somewhere people can be creative. A stimulating environment with greenery, colorful surroundings, art, and open spaces can aid creative minds, allowing them to work better.
– Encourage taking breaks: Instead of penalizing employees for taking breaks and leaves, promote taking care of their mental and physical health. Encouraging exercises, team building activities, social downtime, and paid leaves are some ways. As we continue to live stressful lives, promoting conversations on better health becomes important in fostering creativity.
Get creative and play smart with outsourced accounting
In accounting, creativity is no longer just a nice-to-have trait; it is a fundamental skill that helps their careers achieve new heights of success. Embracing creativity opens several avenues for accountants that can help accommodate personal and professional growth. As automation, new software solutions and artificial intelligence continue to transform the core work of accountants, creative thinking will remain premium – one that no AI can’t replace.
Want to hire a team of creative expert professionals to ease your accounting practice? Outsource with Finsmart Accounting today! Write to us at connect@finsmartaccounting.com to get started.
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Director Growth Strategy & Alliance
Maanoj Shah is a finance and outsourcing expert with strong Business Strategy and Scaling-up experience. Over the last 20 years, he has incubated multiple businesses and helped build global enterprises in verticals as diversified as hospitality, technology, and healthcare.
