Why digital skills are so important

Modern business is becoming increasingly reliant on technology and that means businesses require staff with a wide array of digital skills.


However, new research suggests that many businesses have concerns over their digital capabilities with two-fifths of SMEs revealing they will need to enhance their services in the year ahead.


The latest Close Brothers Business Barometer suggests that many companies feel under-prepared and it could ultimately cause them many difficulties in the long-run.


Of those firms, more than 90% said they were worried about how they would be able to sufficiently upskill staff and recruit more, listing a lack of finances as a major stumbling block.


Some IT skills are incredibly straightforward to learn but others can require specialist teaching and research, making these types of staff very highly sought after.


With most marketing and advertising now taking place from an online base and with aspects of business like accounting also online, a grasp of digital skills is absolutely vital.


When it comes to business finances it’s absolutely essential that everything is done properly, as failures relating to the cash flow can result in fines, legal action or worse.


Having the correct processes in place also reduces the risk of potential problems with finances being missed – in the worst instances, a firm could face liquidation if it is constantly losing money.


However, getting corporate insolvency advice and acting quickly in these types of situation can limit any potential impact that any issues could present.


That is why it is so important to have digitally trained staff who are fully aware of how the financial processes at the company are working, in order to act fast.


With an increasing focus on encouraging students to study technology-based subjects at universities across the UK, it is likely that the number of digitally-ready individuals will increase.


While this will ease the burden for companies in the long-term, many of these people are not ready to walk into the jobs market just yet.


As a result, companies need to train from within to ensure that their staff are more than prepared for anything the digital world can throw at them.


By Phil Smith


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