Basic IT and Financial Skills That An IT Manager Need to Have

By | May 4, 2022

Knowledge of IT and finance is necessary for any manager. It helps them to understand their employees’ needs, be aware of the company’s financial situation and make better decisions. Management is all about the ability to make informed decisions, knowing what is happening in your company and how it can affect you. So, what are the basic IT and financial skills that an IT managers needs to have.

Basic IT and Financial Skills That An IT Manager Need to Have

Becoming an IT manager is not an easy task. They are an important organ of any company. IT managers are those who plan, direct, supervise and control all the computer, internet, software, hardware, network and all information technology related matters of a company. They ensure the fulfillment of all IT related need of a company and employees.

According to a survey in USA, the job of an IT manager is assumed as one of the second most stressful job in the world.

Basic IT Skills That Every IT Managers Need to Have

1. Typing

Writing text in computer through keyboard is called typing. It is writing through fingers on typewriter or computer. It is an art and requires a lot of practice for fast typing. We also do typing in our mobile phone when chatting or messaging with our friends.

2. Word Processing

Word processing is a computer software program that help us to create a document and save it for future use. You can also print the prepared document. There is a need to create many types of documents every day like resume, newsletter, bio-data, project etc. The process of preparing such documents is called word processing.

3. Spreadsheet

Spreadsheet is a computer is software program that provides the facility of managing and arranging data in the form of table i.e. in the form of row and column. It is a type of software to manage and edit numbers.


HTML is a markup language, which has been developed for creating web documents (web pages). It was developed in the 90s. It is the basis of a web page and web pages are the basis of a website. HTML uses ‘tags’ to create web documents.

5. XML

XML is a markup language. Its full form is Extensible Markup Language. It is used to store and organize data. With the help of XML, we can store any kind of data and can also transfer data from one web page to another very easily.

6. Project Management

Project management is the practice of initiating, planning, executing, controlling and closing the work of a team to achieve specific goals and meet specific success criteria at specified times. It is the discipline of using established principles, procedures and policies to guide a project from conception to completion successfully.

7. E-mail

The full form of E-mail is electronic mail. If you want to send any kind of information, any official letter, etc. to any person through the Internet, then you can do so through E-mail.

E-mail is like a letter sent through the Internet. In today’s time, the use of E-mail has been made the official way of sending and receiving information in offices, courts, schools, colleges etc.

8. PowerPoint

PowerPoint is a program with the help of which you can prepare a very good, powerful and attractive presentation. Power Point is developed by Microsoft. It works to prepare our data (Text, Audio) in the form of slides and create, edit, format, share and present it. In power point program you can add animation, photo, song, graphics, video etc.

9. Photoshop

Photoshop is an image editing software which is developed by Adobe Inc. It is mainly used for digital art, graphic design, and image editing. Adobe Photoshop is the most famous software of the word that almost everyone uses in their computers.

Basic Finance Skills That Every IT Manager Needs To Have

1. Budgeting

Budgeting is an important aspect in everyone’s life that focuses on what and where you are spending. The biggest advantage of budgeting is that you get to know where you need to change your attitude to meet your financial goals. Properly evaluating your financial condition i.e. sources of income and assets will also be beneficial in this direction. This will help you to improve your budgeting process further.

2. Financial Analysis

Financial analysis is the process of critically examining the detailed accounting information contained in the financial statements. For the purpose of analysis, individual objects are studied, their inter-relationships with other related data are established, and also the data is sometimes collected in order to have a better understanding of the information with the help of various techniques or tools.

3. Cost Accounting

Cost accounting is a valuable tool that you use to reduce and eliminate costs in a business. You also use cost accounting to determine a price for your product or service that will allow you to earn a reasonable profit. You should be familiar with the most important formulas, terms and principles that you need to know to apply cost accounting.

4. Forecasting

Forecasting is the process of making prediction about the future happening based on the intelligence, data, fact and information. This helps to find possible future opportunities and threats. Adequate knowledge and intelligence is required for proper forecasting.

So, this is all about or today’s article on the topic ” basic IT and financial skills than every IT managers needs to have “. I hope you have found the article informative. Please do not forget to give your feedback and suggestion in the comment box below. Thank You!

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