Finance Archives - Best PGDM colleges in Delhi NCR https://www.gims.net.in/blog/tag/finance/ Thu, 21 Dec 2023 05:25:48 +0000 en-US hourly 1 https://wordpress.org/?v=6.6.1 https://i0.wp.com/www.gims.net.in/blog/wp-content/uploads/2021/12/cropped-gims-1.jpg?fit=32%2C32&ssl=1 Finance Archives - Best PGDM colleges in Delhi NCR https://www.gims.net.in/blog/tag/finance/ 32 32 214952409 The Evolution of Finance: From 1.0 to 4.0 https://www.gims.net.in/blog/2023/12/21/the-evolution-of-finance-from-1-0-to-4-0/ Thu, 21 Dec 2023 05:25:45 +0000 https://www.gims.net.in/blog/?p=1058 Finance has come a long way since its early initial stages. The traditional industry worldwide has experienced swift change due to the digital revolution, augmented by continually developing technology. It is an extensively recognized element that the world has been veteran to four industrial revolutions till now. Finance 4.0 epitomizes a paradigm shift in the

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Finance has come a long way since its early initial stages. The traditional industry worldwide has experienced swift change due to the digital revolution, augmented by continually developing technology. It is an extensively recognized element that the world has been veteran to four industrial revolutions till now. Finance 4.0 epitomizes a paradigm shift in the financial industry. It is not just about digitalizing dominant methods but reimagining the entire financial environment. With Finance 4.0, financial institutions are accepting cutting-edge technologies to boost customer immersions, improve effective productivity, and drive transformation.

Finance

One of the key drivers of Finance 4.0 is blockchain technology. With blockchain, financial transactions can be executed faster, more securely, and at a lower cost. Additionally, it enables the creation of smart contracts, which automate and enforce the terms of agreements without the need for intermediaries. The term “Fintech” is said to have appeared for the first time in the 1980s and 1990s. After the financial crisis of 2007 it was used extensively outside the world of finance to define pioneering, rather new businesses using digital, mobile, AI, etc. skills for financial and banking services to be more competent, economical and faster.

Finance

Technological developments have made it possible to reinvent finance and even shake up the established players in the sector by creating new products and new opportunities which allowed FinTech’s to penetrate into customer focused areas neglected by the big players. Fintech services like Banking APIs, Artificial Intelligence, Personal Finance, Retail Investments, Corporate Investments, Asset Management, Money Transfer, Important Data and Analysis, Financial Platforms, Insurtech, Blockchain and Cryptocurrency Technology, Robo Assistants and Next Generation Banking are having enormous impact on individuals by the accelerated use of mobile phones and the Internet.

Although there is impetus behind the conversion to Industry 4.0, Evidently there are certain challenges for its adoption. In retort ‘Finance 4.0’ has been coined to describe financing practices & systems to enable sustainable digital transform the latent diversity of financing options accessible to organizations. When the organizations are facing challenges in transition financing innovations come to liberation.

Finance

The journey to digital transformation requires deploying combined hardware and software solutions that can deliver digital data streams of performance data. These data are the key to production optimization, predictive and remote maintenance, and more intelligent manufacturing. Financial solutions will usually be based on a range of options: finance lease, operating lease, rental or hire purchase arrangement. Financiers with a deep knowledge of manufacturing in general and digitalization in particular will adapt the finance arrangement to align with the likely benefits the manufacturer will gain from the technology. Financing agreements in which payments are predicated on the expected business benefits, or ‘outcomes’, that the technology makes possible are being offered with increasing frequency. Cash flow and working capital challenges arise at moments other than just the initial point of acquiring digitalized technology. Digitalization may increase production capacity and productivity, while improving price. Vendor finance can play an important, complementary role to support the sale of digital technology and machines and can encompass complete finance solutions, including maintenance, servicing, hardware and software.

Upcoming future changes in the organisations will be based on the skills and competences of Fin Techs to quickly overcome the new methods of processing ever-increasing amounts of data. Many companies can become partners with FinTech companies and have combined investments in technology projects. Corresponding to the digitization process, it is essential to effectively control the financial framework in order to remove or alleviate risks. The security environment brings new challenges, threats, but also development opportunities for a collective solution to the problems facing the Fintech industry. The demands of different users of financing services and new customers are essentially reduced to the requirements of different generations of users. Nonetheless the credence that the largest users of digital services are the younger generation, which grew up in the digital age, studies have shown that older generations have quickly adopted and mastered digital methods of communication and digital business.

Dr. Navita Gurbani

Dr. Navita Gurbani
Assistant Professor

GNIOT Institute of Management Studies
Best College in Greater Noida
Website: www.gims.net.in
Email ID: admission@gims.net.in
Toll Free No.: 18002746969

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Unlocking Success: Key Skills for Fresh Management Graduates in Finance https://www.gims.net.in/blog/2023/12/19/unlocking-success-key-skills-for-fresh-management-graduates-in-finance/ Tue, 19 Dec 2023 05:19:27 +0000 https://www.gims.net.in/blog/?p=1072 In the dynamic world of finance, where every decision can have a ripple effect on an organization’s success, the role of management professionals is crucial. For fresh graduates entering the field of finance, possessing the right set of skills is paramount to navigate the complexities of this industry. Here, we delve into the key skills

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In the dynamic world of finance, where every decision can have a ripple effect on an organization’s success, the role of management professionals is crucial. For fresh graduates entering the field of finance, possessing the right set of skills is paramount to navigate the complexities of this industry. Here, we delve into the key skills required for management freshers to thrive in the world of finance.

Analytical Acumen:

Finance

Finance is inherently data-driven, and the ability to analyze and interpret financial information is fundamental. Management graduates entering the finance sector should be adept at crunching numbers, identifying trends, and extracting meaningful insights. Strong analytical skills empower professionals to make informed decisions, assess risks, and contribute to strategic planning.

Attention to Detail:

Finance is a field where precision is non-negotiable. A small error in a financial statement or oversight in data analysis can have significant consequences. Freshers need to cultivate a keen eye for detail, ensuring accuracy in financial reporting and compliance with regulatory standards. Attention to detail is the bedrock of financial integrity.

Communication Skills:

Finance

Effective communication is a cornerstone of successful management in finance. Fresh graduates must be able to articulate complex financial concepts in a clear and concise manner. Whether presenting financial reports to executives, communicating with team members, or liaising with external stakeholders, the ability to convey information accurately and comprehensibly is paramount.

Adaptability and Continuous Learning:

Finance

The financial landscape is dynamic, with regulations, technologies, and market trends evolving rapidly. Successful finance professionals must be adaptable and open to continuous learning. Management freshers should proactively seek opportunities to update their skills, stay abreast of industry changes, and embrace new technologies shaping the finance sector.

Time Management:

Finance

Finance professionals often juggle multiple tasks, deadlines, and projects simultaneously. Time management is a critical skill that enables fresh graduates to prioritize effectively, meet deadlines, and handle the demands of a fast-paced work environment. Efficient time management ensures that no financial detail is overlooked and that all tasks are completed in a timely manner.

Ethical Judgement:

Integrity is non-negotiable in finance. Management freshers must navigate ethical dilemmas and make decisions that align with the highest standards of honesty and transparency. Understanding the ethical implications of financial decisions is crucial for building trust with colleagues, clients, and regulatory bodies.

Team Collaboration:

Finance

Finance is rarely a solo endeavor; it often involves cross-functional collaboration. Management freshers should cultivate strong interpersonal skills and the ability to work seamlessly with colleagues from diverse backgrounds. Effective teamwork enhances problem-solving, fosters innovation, and contributes to a positive workplace culture.

Risk Management Skills:

Finance

Finance inherently involves risk, and understanding how to identify, assess, and manage risks is a key skill for management freshers. This includes financial risk, compliance risk, and operational risk. Being able to strike a balance between risk and reward is essential for making sound financial decisions.

Technology Proficiency:

Finance

The finance industry is undergoing a digital transformation, and proficiency in financial software, data analytics tools, and emerging technologies is increasingly important. Management freshers should familiarize themselves with industry-relevant technologies to streamline financial processes, enhance efficiency, and stay competitive in the job market.

Networking Skills:

Building a professional network is crucial in finance. Management freshers should actively engage in networking opportunities, both within and outside their organization. Networking helps in gaining insights, staying informed about industry trends, and opening up avenues for career advancement.

In conclusion, success in the field of finance for management freshers goes beyond academic qualifications. It requires a combination of technical expertise, soft skills, and a proactive mindset. By developing and honing these key skills, fresh graduates can position themselves for a rewarding and successful career in finance, contributing meaningfully to the financial health and growth of their organizations.

Dr. Mohammed Rashid

Dr. Mohammed Rashid
Assistant Professor

GNIOT Institute of Management Studies
Best College in Greater Noida
Website: www.gims.net.in
Email ID: admission@gims.net.in
Toll Free No.: 18002746969

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