Independent IT workers make up a significant part of the workforce with the rise of tech freelancers. And their numbers are growing exponentially.
Not that long ago, freelancing was a somewhat mysterious concept reserved for a few lucky ones and the creative types. Nowadays, independent workers make up a significant part of the workforce with the rise of tech freelancers. And their numbers are growing exponentially. This is especially true in IT, where skill shortages and the constant need for IT professionals across all industries provide the perfect conditions for a freelance lifestyle.
We take a look at the
factors propelling (and hindering) this transformation.
A new office environment
This rise in
freelancing is in large part due to the generational shift in the workplace.
By the end of 2020, millennials will have caught up with Generation X, with each making up 35% of the world’s labour. At the same time, those born after 1997 (Gen Z) will have established a solid foothold in the workplace with 25% of the total.
A recent survey of more than 7,000 freelancers in over 150 countries revealed that a staggering 70% of independent workers are under the age of 35. Those younger than 25 represent 21% of the total.
This new workforce configuration is introducing important changes, from corporate culture to salary expectations or how teams operate. Considering that, by 2025, millennials will represent three-quarters of all employees and many of them will be in managerial positions, these new standards will have a big impact on recruitment moving forward. Concepts like flexible schedules, hypermobility and freelancing are becoming more ubiquitous and sought after.
Albeit often
accompanied by controversy, the emergence of the so-called gig economy has too
contributed to the normalisation of the freelance life. While some tout the
benefits of this labour model, such as greater flexibility or financial
freedom, others consider it a source of precarious employment. Whereas that
could be argued when it comes to very specific sectors, the reality is that tech freelancers
generally enjoy an advantageous position in comparison to their in-house
counterparts.
Yes. Independent workers must deal with limited social protections, fluctuating activity and internal red tape. However, the average daily rate of tech freelancers fluctuates between €350 and €800 – well above the average rate of salaried employees in most countries. They also express a 4-out-of-5 satisfaction with their lifestyle.
Programming and IT make up 29% of the global freelance workforce, sharing the top three with web and graphic design. The fit between IT and a freelance lifestyle is clear. A highly coveted skillset that is relevant to almost all industries gives IT professionals the flexibility and bargaining power required to go independent. IT contractors are also among the best-paid freelancers.
A new regulatory landscape with the rise of tech freelancers
But freelancing faces
some roadblocks too. All around the world, new regulations on temporary
employment are being put in place in an effort to avoid precariousness and
reduce the disparity between permanent and short-term positions. Nonetheless,
some of these well-meaning measures can end up doing more damage than good.
A good example of this
problem is the UK’s IR35. Set to kick in on April of this year, this piece of
legislation plans to increase employment tax costs for those companies who
consider a contractor as an employee in all but name. Although the law is
intended to discourage companies from abusing temporary contracts for
tax-saving purposes, what it could mean in practice is that companies would
steer clear of contractors altogether.
Both the freelance
community and businesses are pressing for the legislation to be
re-examined.
SAP FICO is a functional component of SAP ERP, used in many large companies to manage financial statements. Explore the role of the SAP FICO Consultant
Use our template to create a compelling and comprehensive SAP FICO Consultant job description to attract top talent.
The SAP FICO consultant is responsible for developing and implementing SAP-based ERP solutions, focusing on the finance and controlling areas. They work closely with the client’s finance team to analyze and design SAP FI/CO solutions, perform testing and ensure the stability of the solution.
The SAP FICO module is one of the most widely used SAP modules and includes SAP FICO configuration and usage. Therefore, aspiring SAP FICO consultants should have a strong foundation in all aspects of the SAP FICO module to succeed in their role.
Find SAP FICO Consultant missions on our freelance and permanent IT recruitment platform, or join Mindquest so you don’t miss out on any SAP assignments!
What is SAP FICO?
SAP FICO is a functional component of SAP ERP, used in many large companies to generate and manage financial statements. It is used for reporting, but also for analysis for decision-making. Explore the role of the SAP FICO Consultant
Above all, we are talking about two modules: SAP FI (Financial Accounting) for the Finance part and SAP CO (Controlling) for the Management control part:
The SAP FI module allows
companies to generate financial statements such as balance sheets or profit and
loss reports. It is itself made up of secondary modules dedicated to specific
accounting processes: Customer Accounting (FI-AR), Fixed Asset Accounting
(FI-AA), General Ledger (FI-GL)…
The SAP CO module manages the
planning, reporting and supervision of operational costs. A determining module
to improve the profitability of a company, it is also composed of secondary
modules: Cost control by product (SAP CO-PC), Accounting (SAP CO-OM-CEL),
Analysis of the income statement ( SAP CO-PA)…
As a consequence, the SAP FICO consultant is an expert on these specific modules. Before installing the software, their primary role is to analyze and define the needs of the company. They can then have an advisory or support role.
What is the role of the SAP FICO Consultant?
Analyze and assess user needs
Before installing the solution, the SAP FI
/ CO consultant must analyze and understand user needs. As a result, they will
be able to precisely define which functionalities to configure.
Solution and functionality development
Once the assessment is completed, the role of the consultant is to implement the solution. His knowledge of business case allows him to develop tailor-made functionalities to fully cover the needs of the company.
Train future users
After installing the solution, the SAP FICO consultant must ensure that future users can handle the software. They then train future users and play a support role in the event of any problems.
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Whether you are a business leader, IT professional, or project manager, this whitepaper will help you understand how to plan, execute, and manage a successful SAP implementation that delivers tangible benefits and ROI.
Required skills of the SAP FICO Consultant
How to become a SAP FICO consultant? Here is a list of the skills needed to succeed in this career.
Technical expertise
As an expert, mastery of the SAP FICO modules is obviously essential. The consultant must have very good technical knowledge in order to be able to fully meet the client’s needs and to develop suitable functionalities. But also to validate and document the project requirements.
Knowledge of accounting, corporate finance & management control
Firstly, business knowledge is essential for the FICO consultant: they must master and understand the end user’s problems, as well as the business processes involved, to set up suitable workflows in the information system.
A good analytical mind
Soft skills are also essential the SAP FICO consultant must be able to better analyze the processes and business lines of the company, to determine if the necessary functionalities fall under a standard use of SAP FICO or if they require custom development. They also often act as an intermediary between technical teams and trades.
Listening skills
and pedagogy
Then, to better understand the needs of the company, the SAP FICO consultant must have good interpersonal skills and always remain attentive to their client and future users to assess their needs. Likewise, once the solution has been implemented, the consultant will have to provide training for future users: being a good communicator and teacher is therefore very useful.
SAP FICO consultants can work either in-house or externally.
In-house consultants work for the organization during and after the implementation phase, while external consultants are only involved in the implementation.
Moreover, consultants are responsible for system configuration and execution, based on business requirements, GAAP analysis, process improvement, and identifying new opportunities or products. Thus, their role is more significant than that of end/power clients since they are accountable for successful execution of the system. Becoming an SAP FICO consultant is a major career advancement.
In addition, the SAP FICO consultant plays an important role during a digital transition. It is usually the large companies that use this type of profile. Recently, some SMEs have integrated this tool into their activity to gain competitiveness. Today, the needs of companies in SAP FICO expertise are numerous.
Salary of the SAP FICO Consultant
How much does a SAP FICO Consultant make?
The salary of a SAP FICO Consultant can also vary depending on several factors such as location, years of experience, industry, and company size. According to Payscale, the average salary for a SAP FICO Consultant in Europe is around €61,000 per year, with the range typically falling between €40,000 to €89,000 per year.
While according to Glassdoor, the average salary for a SAP FICO Consultant in the United States is around $97,000 per year, with the range typically falling between $75,000 to $120,000 per year.
However, the actual salary can differ based on the country and specific location within that country.
Training of the SAP FICO Consultant
The FICO functional consultant can come from a business school with a finance option, an engineering school, or even from an accounting background. However, it is generally necessary to pass the various SAP certifications concerning the SAP FI and SAP CO modules, as well as to have several years of experience in the implementation and support projects.
In conclusion, a SAP FICO consultant typically evolves by taking on increasingly important integration missions and supervising a team. As they gain more experience and expertise in the field, they may be entrusted with critical integration projects that have a significant impact on the organization’s financial systems and operations. Thus, this offers opportunities for growth and advancement in the field of finance and technology.
Are you looking for IT mission opportunities in the Tech and IT sectors on a freelance or permanent basis? Mindquest can help you find your next IT assignment opportunity. Find a SAP FI CO Consultant mission by consulting our freelance and permanent mission offers available on our digital recruitment platform Mindquest :
There are probably dozens
of variants of the Venn diagram that Drew Conway proposed a few years ago
to capture the core skills of a data scientist. Needless to say, the role has experienced
many changes since then, while rapid technological developments and the boom of
AI have further propelled the profession to the top of LinkedIn’s emerging
jobs ranking.
Well — we couldn’t resist putting forward
our own version of the infamous Venn diagram. Like Conway’s, ours is built on three
axes. However, our model focuses on broader categories rather than on specific expertise.
In today’s ever-changing business world, soft and cross-cutting skills are the
truly decisive factors that, in the long run, can ensure adaptability and
success.
Thus, our “holy trinity,” if you will, of
data science is made up of:
Curiosity
Technical know-how
Collaboration
Thinking of a career in the field, or
wondering if you’re doing this right? Let’s dive into each component.
The importance of a curious mind
Probably obvious, but it’s impossible to
talk about science and not mention the innate curiosity that powers it. Whether
you plan to explore the possibility of life in other planets or the mysteries
of quantum entanglement, it is the thirst for answers to questions and riddles
that will make you advance.
This, of course, applies to the problem-solving
capabilities required in data science projects. Nevertheless, well-directed technical
inquiries tend to fall on shaky ground whenever there are not accompanied by a
good contextual understanding. Just because you’re good at playing with data and
creating models that produce intricate insights and machine learning
experiences, none of it is worth anything if your work isn’t helpful to the
overarching goal.
For this reason, the need for curiosity
expands to the domain of expertise in which you operate (i.e. finance, political
studies, marketing). The more you know about the field of work of your company
or department, the better questions you will ask yourself, the useful insights
and models you will produce.
Note that we’re highlighting “curiosity” rather than “knowledge.” You’re going to spend many hours working with this data. Make sure it’s something that you are passionate about or at least find interesting.
Knowing the technical ins and outs
Some describe a data scientist as someone
who knows more about math and statistics than your average programmer while
having greater coding capabilities than your average mathematician. Although this
definition errs on side of oversimplification, it is not totally misguided.
To be successful in data science, you need
to be proficient in certain data engineering and coding-related methodologies
and practices. It is important not only to know how to build effective code, but
also how to efficiently extract and clean data.
Additionally, there is the crucial
technical knowledge that has less to do with computer engineering and more with,
for instance, data privacy compliance. You must know what data sets you can
manipulate and which ones you can’t, which processes can be computed on the
cloud and which ones are better reserved for on-premises infrastructure. At the
same time, if you work in finance or in any other field where sector-specific concepts
are a basic requirement, you will have to dominate those on top of your
knowledge of data science.
Playing as a team
This is where soft skills play the biggest
role. Interpersonal communication and teamwork have always been one of the key
factors of success Their relevance in this hyperconnected world of ours is only
increasing.
There must be good cooperation between all
teams and stakeholders involved in the process, and, for that, you should be
able to communicate efficiently and in a compelling way. It’s not enough with working
closely with developers or analysts. Knowing how to present a project in
layman’s terms becomes essential if you want to be granted the staff or
computational power that you’ll need to complete it.
Apart from this, you need to be well-versed
in concepts like Agile development, which help teams streamline the production
pipeline. Version control, a unified repository, and a good understanding
between development and production are a teamwork-must in today’s IT world.
How the Covid-19 Pandemic is Accelerating the hybridisation of Careers in Tech & IT
Freelancing is the subject of much ink as the gig economy keeps on growing. Frequently portrayed as the future of work, freelancing is not always the Holy Grail of well-being … especially not in tech, an area that is so buoyant.
Whoever says freelance often implies freedom, autonomy, a passion-driven career. But make no mistake: the reality is often far from ideal. Freelance status is also synonymous with limited social protections, fluctuating activity and having to deal with a good amount of internal red tape. A mixed bag, then. A status that might not always be enviable.
What’s it like in the fields of technology, digital and data, which are particularly dynamic and hungry for talent? Are freelancers to envy or do they face the same difficulties?
Tech, a sector rather favourable to freelancers
It is quite evident that the situation of freelancers in tech is significantly better than for those in other sectors. With the same level of experience, a freelance web developer or a SAP consultant will find it easier to find assignments and will be better paid than a freelance photographer or a communications consultant.
Firstly, because the
talent war is particularly intense in these areas of competence, with companies
fighting to attract and retain the best profiles. Secondly, because in tech and
digital companies often work in “project mode”. This operational
mentality lends itself very well to freelancing, with very specific skill needs
and limited time.
And this trend is accelerating
— Organizations are progressively opening up to the idea of collaborating
with freelancers and are increasingly structured in ways that allow for greater
integration of this type of employee. However, on closer inspection, the
reality is more heterogeneous than it seems.
Varying career prospects
As in all sectors and areas
of activity, it can be difficult for freelance consultants to make themselves
visible to companies. Furthermore, the logic of supply and demand varies
greatly depending on the field and the function.
If a consultant with expertise in SAP management software is in addition specialized in a specific SAP module, they will be able to expect an average daily rate of between 500 and 850 pounds. Meanwhile, an independent web designer will often be satisfied with a daily salary of 250 to 350 pounds.
Beginners can find it
difficult to find a place among the experts, as companies never hire a
freelancer that needs to be trained. Additionally, for assignments that require
a lower level of expertise, firms are more likely to call on lower-cost,
offshore services.
In contrast, some tech
freelancers hold a “rockstar” status, with a very high level of
experience, highly specialized and sought-after skills, and excellent
references. These profiles have a particularly enviable situation because they
are over-solicited by recruiters and agents, and therefore in a position to
impose very high levels of remuneration and particularly advantageous
contractual conditions.
These rare profiles do
not endure a latency period between two gigs, often have higher salaries than
they would on permanent contracts, and enjoy the luxury of being able to choose
their assignments. All the advantages of being self-employed, without the
constraints.
Freelancers in tech: what is the recipe for success?
No miraculous formula
here: success is first reserved for those who have proven themselves in terms
of results and performance in the workplace. Reliability and flawlessness are
fundamental.
And that’s not all.
The entrepreneurial spirit counts quite a lot. Working freelance is a lifestyle
choice that does not suit everyone. You must know how to manage the relational
aspect and build trust with your customers, juggling between know-how and
interpersonal skills. It’s also important to know how to make the right career
choices.
What does exactly mean
to make the right career choices? Well, first specialize in areas of expertise
and / or sectors where the demand is high. Among the highly rated profiles of
the moment: SAP consultants, Microsoft technology specialists and security and
infrastructure expert.
Then you must make an
effort to continuously improve and develop your skillset. Build a good CV with
solid experiences, keep abreast and adapt to technological developments.
Finally, learn how to enhance your profile and experiences, manage your
visibility and maintain and nurture your professional network. It’s not easy
when you’re independent since you often tend to focus on the present or the
near future.
The good news is that
you’re not alone. Tech recruiters and sourcing experts are well placed to guide
professionals in the management of their development, as well as in the present
and future development of their skills.
In summary, if tech freelancers want to be successful in this ever-evolving market, it is vital for them to know how to seize the right opportunities while positioning themselves in the best niches of expertise.
An IoT consultant is involved in the development of IoT projects in all types of companies. Explore the role with our job description.
Use our template to create a compelling and comprehensive IoT Consultant job description to attract top talent.
IoT is undoubtedly a rapidly expanding field. Accordingly, the IoT consultant role is on the rise. An IoT consultant is involved in the development of IoT projects in all types of companies. They can also help a company transform its existing products into connected objects as part of a global innovation process.
Support and advise
the company before, during and after making the decision to enter the IoT
space.
The first step in the IoT consultant’s mission is often to analyse the situation and understand the level of stakeholder awareness. The world of connected objects is complex, therefore the consultant must ensure that the project is coherent and beneficial for the company.
They must also assess the opportunities and risks that connected objects can offer in relation to the specific context of a company (sector, products, customer uses, internal organization, etc.). They then estimate the investment required, in terms of time and costs for a given project.
Identify customer
needs and define a strategy
Further, the IoT consultant must make recommendations that take into account the capabilities and constraints of the company. For example, it can perform an IT and technology audit, design a business plan, and design an implementation plan.
Develop complex
analytical solutions
In addition, the IoT consultant often plays a key role in drafting the project’s specifications, all in coordination with the other departments of the company. They can then subsequently manage the implementation of the project, playing a coordinating role to ensure the correct deployment and monitoring of the projects concerned. This process covers the implementation of IoT products and services, as wells as of user training and support procedures.
The IoT consultant must also demonstrate great listening skills to best meet the expectations of their client. Their adaptability must also allow them to interact with any type of interlocutor, regardless of their level of seniority or their knowledge of IoT technologies.
Advanced technical
knowledge
The IoT consultant must obviously have a deep and broad knowledge of information and communication technologies and, in particular, of the latest technologies developed in terms of connected objects. They must also be able to work with technical experts whose language they must understand and have mastered.
The soul of a
leader
Moreover, to lead a team and convince them to embark on often profound changes, IoT consultants must be able to assert their ideas, as well as to get their clients to trust them, despite possible resistance from certain stakeholders.
Great responsiveness
and curiosity
Dynamic, lively,
reactive, they must learn how to continuously evolve in an often-complex
customer context, be creative and keep strengthening their proposal skills.
Education
To access this profession, one must go to engineering school (some have IoT-focused programmes or specializations).
Dual management skills
in a business school are also highly appreciated.
And, remember — An IoT consultant is an expert. Access to this role is therefore not possible right after graduation. Job seekers must first have experience in business and in project management related to the Internet of Things.
