As technology has advanced, the variety, types and sources of information have exponentially multiplied to a point where one can drown in it.

'Information is only good if it is accurate, clear and relevant. It is the quality, not the quantity that counts. Good BIM enables the business to make the right decisions in balancing today's needs with tomorrow's opportunities,' said Ms Thong, who used the analogy that information, like water, could both sustain and sink a ship.

'In today's dynamic and complex business environment, it is important that the key components of what was once standalone information is now brought together to support holistic decision making.

'It is vital, therefore, that finance professionals involved in BIM understand that being analytical goes beyond tangible facts, usually derived from financial data.'

She said the observation of intangibles such as customer satisfaction, staff morale and internal processes were as crucial.

'This can be achieved by working closely with colleagues and encouraging frequent exchanges of information. We need to be open minded, flexible in our approach and keen to operate as part of a team.'

The Association of Chartered Certified Accountants' certified accounting technician (CAT) programme trains students in the fundamentals of accounting and finance. It further equips students with various skills, including being able to map information flow and analyse data.