Financial Planning and Analysis (FP&A) roles have seen significant growth in recent years, with a notable rise in demand for interim FP&A professionals. We believe this trend reflects the evolving needs of businesses as they navigate increasingly complex financial landscapes. Several key factors contribute to the growing importance and prevalence of FP&A roles, particularly interim positions. 

Having analysed the trends and spoken to many professionals in region, in this article we share our thoughts on the key business reasons we believe there has been such a rise in these types of roles and the value a good FP&A Accountant can bring to any business.  

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Economic Uncertainty and Market Volatility

Economic uncertainty, driven by factors such as geopolitical tensions, fluctuating interest rates, and unpredictable global markets, has compelled companies to prioritise financial agility. FP&A professionals play a crucial role in helping organisations forecast, plan, and make data-driven decisions in uncertain times. However, the need for these skills often arises suddenly, especially during periods of crisis or rapid change. Interim FP&A professionals offer companies the flexibility to quickly adapt to these situations without the long-term commitment of a permanent hire.

Mergers, Acquisitions, and Restructuring

Corporate restructuring, including mergers and acquisitions, is another significant driver behind the increased demand for interim FP&A roles. Such transitions require meticulous financial analysis and strategic planning to ensure successful integration and to realise synergies. Interim FP&A experts are often brought in to provide specialised skills and a fresh perspective, guiding organisations through these complex processes.

Technological Advancements and Data-Driven Decision Making

The integration of advanced analytics and AI in financial planning has transformed the role of FP&A professionals. Modern FP&A requires a deep understanding of data analysis tools and the ability to interpret vast amounts of data to provide actionable insights. As companies upgrade their financial systems and implement new technologies, they often seek interim FP&A talent to manage these transitions and train permanent staff, ensuring a seamless adoption of new processes.

Cost Efficiency and Budget Constraints

Hiring full-time senior FP&A professionals can be costly, particularly for small to mid-sized companies or startups. Interim roles offer a cost-effective solution, allowing companies to access high-level expertise without the financial commitment of a permanent position. This model is especially appealing during periods of budget constraints, enabling firms to manage their finances more prudently.

Imran Rasool, a qualified accountant with background in operational and financial planning, management information and analysis reporting at all levels, has over 11 years operating in FP&A roles. Imran has been known to us for a while and regarded by our team as one of the standout FP&A interims in the Yorkshire market. We were delighted when he provided his take on what makes a strong FP&A professional today, and his thoughts on why the market is growing and demand is at an all-time high….

“There is a lot of activity and interest in the interim FP&A market as companies are increasingly recognising the value of flexible, specialised financial expertise that can be brought in as needed. Hiring expertise is a high priority for businesses, knowing that the candidate can 'hit the ground running'. I also think that the market continues to grow because businesses are demanding FP&A professionals with specific suitable skills to not only complement but enhance the gap in their finance teams.

A strong FP&A professional ideally has a positive and professional manner, with a variety of sector experience adding value to the finance department and the business overall. From my experience, this is usually a skill set that is a challenge for many businesses to find.”

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In conclusion, a good FP&A professional can help businesses develop strategic plans to help make informed financial decisions and optimise their performance, especially in the dynamic and uncertain business environment of today. As Imran mentioned, companies are increasingly recognising the value of flexible, specialised financial expertise that can be brought in as needed. This trend is likely to continue as businesses seek to stay agile and competitive in an ever-changing economic landscape.

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For more information on the topic, please contact one of our team that specialise in Interim recruitment of finance professionals:

Dale Spink - dale@pratappartnership.com

‍Nicola Beach - nicola.beach@pratappartnership.com

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Our FP&A Article Series

An Introduction to our FP&A Articles

The Rise of FP&A Roles: A Shift Towards Interim Expertise

Interview with Andrew Lynch, FP&A at Blue Light Card