3 Critical Skills Every FP&A Professional Needs in 2024

Let’s be real—2024 isn’t going to be smooth sailing. If you work in FP&A, you’ve already seen how unpredictable the market can be: rising inflation, geopolitical conflicts, and technology shaking things up. As someone who’s worked in finance long enough to see trends come and go, I can tell you this: the game has changed. If you’re not actively refining your skills, you’ll get left behind. Here are the three essential skills that every FP&A professional must master to succeed in 2024.

Strategic Business Partnering

If you’re still only focused on traditional financial reporting, it’s time to step up. FP&A professionals are now expected to partner with the business and influence strategy. The numbers you crunch should provide actionable insights that help guide leadership through market shifts. When global uncertainty—from conflicts like the ongoing war in Gaza to supply chain disruptions—affects business performance, FP&A professionals need to be at the table providing solutions.

Pro Tip:

• Build relationships with leaders in all departments.
• Focus on translating financial data into real-world actions that align with business goals.

The bottom line is that FP&A is no longer a background function. Your role as a strategic partner is crucial to driving the company’s financial and operational success in unpredictable times.

Data Storytelling and Visualization

Your ability to present data effectively is what will separate you from your peers in 2024. Sure, data analytics is important, but so is your ability to translate that data into a clear, compelling narrative that decision-makers can act on. Complex financial models don’t help if no one understands them. The use of AI-driven analytics is increasing, but without the skill to communicate insights effectively, all that data is wasted.

Pro Tip:

• Learn data visualization tools like Power BI and Tableau to enhance how you present information.
• Focus on the “why” behind the numbers, not just the numbers themselves.

When you’re dealing with massive economic shifts or volatile markets, your ability to present a data-driven story could be the key to guiding your company through financial uncertainty.

Technological Proficiency and Adaptability

In 2024, if you’re not tech-savvy, you’re already behind. AI, machine learning, and automation are reshaping the FP&A landscape, and you need to stay ahead of these trends. Advanced ERP systems, automation tools, and AI forecasting capabilities will allow you to perform deeper, more accurate analyses in less time. But it’s not just about knowing the tools—it’s about integrating them into your workflow to enhance your impact.

Pro Tip:

• Stay current on the latest financial technologies by investing in training and certifications.
• Look for ways to automate routine processes, freeing up time for strategic decision-making.

Companies are investing more in digital transformation, and FP&A teams that can lead the charge with new technology will be at the forefront of their organizations.

Final Thoughts

2024 will be another year of major challenges. With economic uncertainty, geopolitical risks, and rapid technological change, it’s crucial that FP&A professionals elevate their skills. Strategic business partnering, data storytelling, and technological proficiency aren’t optional anymore—they’re essential to staying relevant in today’s market.

I want to hear from you! With the commenting feature now open, feel free to share your thoughts below and let’s start a conversation. Stay sharp, stay informed, and let’s tackle 2024 head-on.