Geodata, or geospatial data, describes locations, whether in the air, on the ground, at sea or under our feet, and how they might relate to objects and people. The spectrum of data is incredibly broad – everything from a simple address to a satellite image to advanced mapping information – as too are the means of gathering data, which includes manned and unmanned vehicles, satellites, a plethora of constantly evolving gadgets, and of course, people.
The geospatial data and technology industry is a complex one, spanning sectors with a wide range of products and services and distinct submarkets. ‘This complex market is difficult to define, measure and evaluate,’ a Geospatial sector market report by the UK government found in 2024. ‘Traditional methods are unlikely to capture the full value of commercial geospatial activity.’ It added that the sector could be valued upwards of £6bn a year in the UK alone.
‘The move towards renewable energy makes for a bullish sector outlook’
It’s a growth industry, then, and one closely tied to global sustainability efforts. That is an important motivator for Ben Lim FCCA, accounting team lead for the Pacific at geodata specialist Fugro.
‘With the world moving towards renewable energy sources, the outlook for this sector is bullish and I’m proud to be working for a company that is committed to creating a safer and more liveable world by providing innovative geodata solutions,’ he says.
Career scope
The sector might seem niche at first glance, but given Netherlands-headquartered Fugro has a global presence, and Australia-based Lim, who is originally from Singapore, oversees an entire region, it can provide a raft of international career opportunities.
The structure of organisations in the sector will be familiar to most finance professionals with corporate experience. Large international businesses will have a head office CFO team and finance department, as well as regional and country finance teams. Roles cover accounting, internal auditing, governance, risk management, business strategy, digital transformation, and financial planning and analysis, depending on the needs and scale of the business.
There is no ‘model’ geodata accountant
‘As accounting team lead for operations in the Pacific region, I’m responsible for ensuring the smooth operation of the business from a procure-to-pay and order-to-cash perspective,’ Lim says. ‘I also hold custody of the record-to-report process, ensuring the financial reports in the region are accurately representative.’
The geodata sector is also attracting large sums in fundraisings, so working for high-growth startups may also be an avenue.
Getting in and getting on
The ACCA qualification is considered a highly valuable foundation in this sector for its versatility and international recognition. Lim stresses the knowledge and skills across financial and management accounting, taxation, auditing, and business law it has provided him with.
‘This set the stage for me to excel in diverse roles within the accounting field throughout my career,’ he says. ‘ACCA members are highly valued by employers for technical expertise and professionalism.’
However, there is no ‘model’ geodata accountant. Individual requirements are heavily dependent on the sectors or subsectors in which a company operates, its size and lifecycle, and the nature of the role. One key quality that all employers will value is that of an ‘active learner’, someone with the appetite to continuously learn and upskill, Lim says.
The ability to handle stress in high-pressure situations is highly valuable
This is vital given geodata is a rapidly advancing sector. It is exposed to evolving regulations globally, including sustainability-related financial disclosures, and international tax rules.
On the softer skills side, workplaces and clients can be multicultural and spread internationally, so good communication and virtual management are key. Equally valuable are the ability to handle stress in high-pressure situations, effective time management amid tight deadlines, critical thinking skills (for example, to challenge assumptions) and an ability to use financial data to make recommendations to senior management.
‘The modern accountant is not just a bean-counter but a business partner providing insights from a financial perspective,’ Lim says.
As geodata businesses work closely with companies in the mining, renewables, energy and utility sectors, finance professionals working in geodata would find it easy to switch to a role in a company operating in such sectors, or just as easily forge a path as a sector specialist and stay within geodata.
‘The good thing about the accounting profession is the versatility of the skillset,’ Lim says. ‘I have been in multiple sectors throughout my career and many of the technical and soft skills are applicable across all of them.’
More information
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