What Makes FP&A Tools Work for Growing Finance Teams

In the fast-changing world of finance, teams are under increasing pressure to do more with less. While many still rely on spreadsheets, the reality is that as businesses grow, so do their planning, reporting, and decision-making needs. This is where FP&A tools step in to make a difference.

In Episode 9 of FP&A Unboxed, I had the pleasure of speaking with Paul Barnhurst, known globally as "The FP&A Guy". Paul is not only the founder of The FP&A Guy brand but also the host of multiple finance podcasts, a keynote speaker, and an expert on FP&A tools and storytelling.

Together, we explored Paul's journey from government procurement to corporate finance at American Express, to building his own successful FP&A consulting business. His insights shed light on how the right tools, processes, and mindset can elevate finance teams and drive business success.

The Leap from Corporate to Entrepreneur

Paul's career journey reflects courage, curiosity, and resilience. Leaving behind the stability of corporate life to start his own FP&A brand was not without risks. It involved shifting from a secure paycheck to building a business from scratch—all while managing cash flow uncertainties and creating value as a solo entrepreneur.

What made the difference? Belief in his vision, support from his family, and a clear understanding of the growing need for FP&A insights in today's business world.

The Evolution of FP&A: From Reporting to Strategic Partner

Paul shared that while great FP&A has always been strategic at its core, the wider recognition of this value is only now catching up. The demand for real-time data, better tools, and strategic business partnering has grown immensely.

And here is the heart of it: Data problems are rarely just data problems. They are usually process and people problems. Without strong processes and ownership, even the best tools cannot fix underlying issues.

🎧 Curious to hear more about how FP&A is stepping into the spotlight?

Why Owning Your Data Matters More Than Ever

One key takeaway from our discussion is the importance of data ownership. Too many companies rely entirely on ERP or accounting systems where accessing historical data becomes a nightmare during system changes.

Paul advocates for creating an independent data layer—on platforms like Azure, AWS, or Fabric—so that businesses retain control over their data. This not only simplifies future system migrations but also makes FP&A tool adoption more efficient and cost-effective.

Building the Right FP&A Infrastructure

Finance teams can only thrive when they have the right infrastructure:

• People: Hire curious, commercially minded professionals.

• Process: Fix data at the source, not after the fact.

• Platform: Choose tools that match your size, needs, and goals.

Good infrastructure turns good people into great performers. Without it, talent leaves, efficiency drops, and decision-making slows.

The Storytelling Edge: From Numbers to Impact

Paul emphasised that the best FP&A professionals are not just number crunchers. They are storytellers. Communicating financial insights in a clear, engaging way builds influence, drives action, and fosters business alignment.

For those who struggle with storytelling, Paul recommends deliberate practice, using tools like PowerPoint's built-in Coach for feedback, and gradually building confidence through real-world experience.

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The Future of FP&A Tools: AI, Integration, and Strategy

Looking ahead, FP&A tools will increasingly:

• Embed AI and agentic capabilities for smarter forecasting and scenario planning.

• Focus on integration with streamlined data layers rather than endless custom connectors.

• Empower finance teams to act as true business partners, not just report generators.

Paul's advice? Start by owning your data, building strong processes, and selecting tools that empower your people—not overwhelm them.

📖 Want more insights from this episode? Check out the full article and companion resources on our website: https://aksharconsulting.com/fpa-unboxed

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