Syllabus: SQA - Higher Course Spec Business Management
Module: Management of Finance
Lesson: Technology

Introduction

In the SQA Higher Business Management course, the “Management of finance – Technology” unit explores how digital tools and systems support financial decision-making in modern organisations. This aligns directly with the SQA syllabus strand that highlights the impact of ICT on financial management practices, such as electronic banking, digital record-keeping, and automated financial reporting.

This area not only prepares students for assessment success but also supports wider enterprise and employability goals by showing how financial technology (fintech) drives everyday decisions in business.

Key Concepts

Students are expected to understand the following core concepts related to technology in financial management:

• ICT in financial functions: How technology is used in budgeting, forecasting, invoicing, and payroll.

• Advantages of using technology in finance:

  • Increased accuracy and speed of calculations and records.

  • Automation of repetitive tasks like invoice generation or payroll processing.

  • Easier access to real-time financial data for better decision-making.

• Disadvantages or risks:

  • Cybersecurity threats and data breaches.

  • High setup and maintenance costs.

  • Risk of staff redundancies due to automation.

• Examples of technology in use:

  • Accounting software (e.g. Sage, Xero, QuickBooks).

  • Spreadsheets (Excel for budgeting or cash flow forecasts).

  • Online banking and mobile finance apps.

These content points reflect SQA’s expectation that learners analyse both the benefits and challenges of technology in managing business finance.

Real-World Relevance

In practice, even small businesses are now reliant on technology for day-to-day financial decisions. For example, a local café might use Square or Zettle to manage point-of-sale transactions, sync those with accounting software, and automate tax reports.

Larger firms like Tesco or ASOS use integrated financial management systems to track real-time sales, manage supplier payments, and forecast budgets. The ability to extract and interpret financial data using software is now a baseline expectation in the business world.

This section gives students a direct link between what they study in class and what’s happening in the world of work.

How It’s Assessed

This topic is assessed through:

• Extended response questions: Often asking for advantages and disadvantages of using specific technologies in finance.

• Case study analysis: Students apply knowledge to real or hypothetical business scenarios.

• Command words: Such as explain, discuss, analyse, or evaluate. It’s key students practise unpacking what these mean in context.

An example might be:
“Analyse the impact of introducing new financial management software on a medium-sized business.”
Students should aim to structure their response using financial and technological reasoning, referring to both benefits and potential risks.

Enterprise Skills Integration

This topic naturally links to several enterprise capabilities, including:

• Problem-solving: Evaluating which digital tools best meet a company’s financial needs.

• Decision-making: Weighing cost vs benefit of adopting new software or cloud-based solutions.

• Numeracy and data literacy: Working with spreadsheets or interpreting outputs from financial tools.

• Adaptability: Understanding how businesses evolve their practices as new technologies become available.

Practical classroom tasks might include software simulations or “budgeting challenges” using spreadsheet tools to build these skills.

Careers Links

Studying this topic helps meet Gatsby Benchmarks 4 (linking curriculum learning to careers) and 5 (encounters with employers through case studies or guest speakers).

Relevant roles and pathways include:

• Finance assistant or accountant: Strong IT and financial systems knowledge is a must.

• Business analyst or operations manager: Interpreting digital financial data to inform strategy.

• Tech-based careers: Such as software implementation consultants or fintech support roles.

• Entrepreneurship: Knowing how to manage cash flow and tools to track income and outgoings.

This section builds awareness of the practical value of financial ICT skills across sectors.

Teaching Notes

Here are some practical pointers for delivery:

• Make it real: Use real-world tools in lessons (e.g. set up a simple budgeting spreadsheet).

• Keep it current: Update examples to reflect the latest digital tools in finance. Free trials or case studies from software providers can help here.

• Differentiate: Provide scaffolded support for learners who need more guidance navigating tech-related terms.

• Watch out for misconceptions: Students may assume technology is always cost-effective or reduces workload. Encourage balanced analysis.

• Assessment practice: Build in short written tasks using SQA-style command words, especially for “evaluate” and “analyse”.

Optional extension: Invite a local business or finance professional to discuss how they use financial technology in their work.