Skip to main content
Home
The Online Resource for Modern FP&A Professionals
Please register to receive the latest FP&A news, updates and tips Login

Main menu

  • Home
  • FP&A Insights
    • FP&A Trends Digest
    • FP&A Trends Research
    • FP&A Trends Insight Paper
    • FP&A Trends Survey
    • Short Videos
    • Our Contributors
  • FP&A Events
    • International FP&A Board
    • FP&A Trends Webinars
    • Digital FP&A Circles
  • AI/ML Committee
    • Introduction
    • Members
    • Resources
    • Meetings
  • FP&A Tools
    • FP&A Trends Maturity Model
  • About Us
    • Company Policy
    • Privacy Policy
    • Editorial Guidelines
    • Our Ambassadors
    • Our Sponsors & Partners
    • Contact Us
image
Would a Renewed Focus on These Four Areas Make FP&A Sharper in 2024?
January 29, 2024

By Partha Basu, Global Head of Finance Transformation at Aliaxis, the Author of the Book "Outskill"

FP&A Tags
Financial Planning and Analysis
Planning and Budgeting
Agile FP&A
Cash Planning

Most would agree that the world is very different in the post-COVID era. While global economic uncertainty continues, growth is still slow in many countries, inflationary conditions still exist, climate worry intensifies, renewing focus on sustainability, and optimism for a brighter future is probably on the rise.

The ways of working are changing daily, led by a purpose-driven workforce and aided by the invention of new technology/tools/apps. Simply put, the change we witness is even more rapid than in the past.


How Can Your FP&A Team Elevate Your Business in 2024?

The Financial Planning and Analysis (FP&A) team sits in the ‘middle of everything’ and probably has the best view of the business trends/performances. Hence, with all the insights, FP&A can truly help the business to move to the next level.

In my view, 2024 should be a year of the ‘step change’ for our function, so we should become ‘the true strategic partner’ to the business and top management through deeper collaboration and helping to achieve the strategic ambition by driving business performance.

The points shared below are based on my learnings and discussions with other leaders and do not represent the opinions of my past/current employers. These are generic observations, and the situation for each organisation/individual is certainly different, so you will have to evaluate these recommendations carefully before adopting them.

I am trying to capture a few areas that might need a renewed focus from FP&A professionals in 2024.

  • Drive business transformation through data-led stories

As we discussed above, the economic conditions are still challenging in many parts of the world, the inflation continues, and the growth is slow. Competition is also fierce. To stay ahead of the curve and to deliver shareholder returns, every business is looking for agile decision-making regardless of the perspective of return on investment or cash flow. They look at running the business with real-time insights. On-time decision-making is key to success, and the speed of decision-making is paramount.

In today’s world, information is widely available. But the story behind that information is exactly what the businesses need. It is the time for FP&A to help companies transform through data-led stories.

  • Help to free up the cash flow

Borrowing interest levels will likely remain soaring even in 2024, so costs related to it will still be high.

The finance function can renew its focus on reducing the cost of an organisational debt by freeing up the cash flow. FP&A has all the visibility and insights of the business. However, many enterprises still focus a bit more on P&L than the balance sheet. It may be a lost opportunity.

That said, FP&A can help lead the Change Management process to guide the organisation to focus equally on the balance sheet along with P&L. Moreover, the FP&A team can aid the businesses with the insights to help the leaders focus on working capital and evaluate every investment need.

  • Steps towards advanced analytics and automation

In the last few years, technologies truly have moved to a different level. However, many companies are far away from adapting to them. Many hours are still spent on such activities as budgeting, forecasting and manual analysis. It means that many FTEs are spent on non-productive work. I suppose the organisations are missing the technology edge. So, 2024 can be the year when FP&A should seriously consider embracing technology to free up many business hours, which can be used in areas where they would get the best return.

  • Help organisations revisit existing KPIs and move towards productivity-based KPIs

Even today, many companies continue to use Key Performance Indicators (KPIs) from the past. KPIs need to be dynamic and relevant to the current business and economic conditions. With all the changes that we have faced during the last few years, most organisations may need to revisit their KPIs so that these metrics can help enterprises navigate the current realities, challenges and opportunities. In my view, 2024 should be the year when FP&A can truly establish the relevant KPIs based on insights that will drive the right behaviour and reflect the business needs.


Conclusions

It is time to drive a step change in how we work, especially in thinking about how we can drive the FP&A function. The business needs our help, so why not wear an evolved hat this year and be the real partner our companies are looking for? We can contribute to profitability and cash flow and truly enhance shareholders' expectations.

The full text is available for registered users. Please register to view the rest of the article.
  • Log In
  • or
  • Register

Related articles

Mohamed-El-Rouby-Data-Storytelling-Main
Data Storytelling: The Most Important Things to Keep in Mind
October 5, 2023

In this article, the author shares the essentials of compelling data storytelling and provides several tips...

Read more
fp&a
Cash Flow Planning Is Paramount
March 15, 2022

This article provides an overview of the topics and cases presented and discussed by the experts...

Read more
fp&a
Cash Flow Management as an Art and a Science
July 28, 2022

Cash flow seems to be generally ignored by larger companies as the focus lies in growing...

Read more
FP&A Trends White Paper 2021
FP&A Trends White Paper 2022: Extended Planning and Analysis (xP&A): FP&A’s Role in Business Transformation
March 23, 2022

xP&A is more than an attempt to ‘fix’ the planning process. It is a complete transformation...

Read more
fp&a
Measuring FP&A Performance with Key Performance Indicators (KPIs)
January 13, 2022

Why are the KPIs an important component in FP&A? What can organisations do to design and...

Read more
Do You Know Your Business Drivers or Still Rely just on KPIs?
Do You Know Your Business Drivers or Still Rely just on KPIs?
January 26, 2023

This article provides an overview of the topics and cases presented and discussed by the expert...

Read more
+

Subscribe to
FP&A Trends Digest

We will regularly update you on the latest trends and developments in FP&A. Take the opportunity to have articles written by finance thought leaders delivered directly to your inbox; watch compelling webinars; connect with like-minded professionals; and become a part of our global community.

Create new account

image

Event Calendar

Pagination

  • Previous
  • May 2025
  • Next
Su Mo Tu We Th Fr Sa
27
28
29
30
1
2
3
 
 
 
 
4
5
6
7
8
9
10
11
12
13
14
15
16
17
Transforming FP&A Together: Human & AI Synergy
 
18
19
20
21
22
23
24
Moving from FP&A to Extended Planning and Analysis (xP&A)
 
Five Critical Roles for Building a World-Class FP&A Team
 
25
26
27
28
29
30
31
FP&A Business Partnering and AI: A New Era
 
All events for the year

Future Meetings

The Face-to-Face Amsterdam FP&A Board
The Face-to-Face Amsterdam FP&A Board Transforming FP&A Together: Human & AI Synergy

May 15, 2025

The Face-to-Face Milan FP&A Board
The Face-to-Face Milan FP&A Board Moving from FP&A to Extended Planning and Analysis (xP&A)

May 20, 2025

The Face-to-Face Frankfurt FP&A Board
The Face-to-Face Frankfurt FP&A Board Five Critical Roles for Building a World-Class FP&A Team

May 22, 2025

BPAI
The FP&A Trends Webinar FP&A Business Partnering and AI: A New Era

May 28, 2025

The Face-to-Face London FP&A Board: Data Management & Analytics: Unlocking FP&A Value
The Face-to-Face London FP&A Board Mastering Data in FP&A: Smarter Analytics, Better Decisions

June 5, 2025

FP&A Trends Webinar The Evolving Role of FP&A: From Number Cruncher to Strategic Advisor
The FP&A Trends Webinar Making FP&A Teams Fit for the Future

June 11, 2025

The Face-to-Face New York FP&A Board
The Face-to-Face New York FP&A Board From Insight to Impact: FP&A Business Partnering in Action

June 17, 2025

The Face-to-Face Sydney FP&A Board
The Face-to-Face Sydney FP&A Board Modern Financial Planning and Analysis (FP&A): Latest Trends and Developments

June 26, 2025

The Face-to-Face Singapore FP&A Board: Modern Financial Planning and Analysis (FP&A): Latest Trends and Developments
The Face-to-Face Singapore FP&A Board Modern Financial Planning and Analysis (FP&A): Latest Trends and Developments

July 8, 2025

AI/ML FP&A
AI/ML FP&A
Data and Analytics
Data & Analytics
FP&A Case Studies
FP&A Case Studies
FP&A Research
FP&A Research
General
General
Integrated FP&A
Integrated FP&A
People and Culture
People and Culture
Process
Process
Technology
Technology

Please register to receive the latest FP&A news, updates and tips.

info@fpa-trends.com​

              

Foot menu

  • FP&A Insights
  • FP&A Board
  • FP&A Videos

Footer countries

  • Amsterdam
  • Austin
  • Boston
  • Brisbane
  • Brussels
  • Chicago
  • Copenhagen
  • Dubai
  • Frankfurt
  • Geneva
  • Helsinki
  • Hong Kong
  • Houston
  • Kuala Lumpur
  • London Board
  • London (Circle)
  • Melbourne
  • Miami
  • Milan
  • Munich
  • New York
  • Paris
  • Perth
  • Riyadh
  • San Francisco
  • Seattle
  • Shanghai
  • Singapore
  • Stockholm
  • Sydney
  • Tokyo
  • Toronto
  • Washington D.C.
  • Zurich

Copyright © 2025 fpa-trends.com. All rights reserved.

0