FP&A Today Big shifts in FP&A – Bryan Lapidus
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May 2, 2025 Bryan Lapidus, Director of the FP&A Practice at the Association for Financial Professionals, discusses the transformative shifts in Financial Planning and Analysis. He explores how AI is reshaping finance and challenges the notion that business school prepares students for FP&A roles. Lapidus highlights the evolving responsibilities of CFOs, particularly in private equity, and why FP&A professionals are highly sought after. Moreover, he shares insights on the significance of certifications in navigating the finance landscape and the essential skills for future finance leaders.
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AI's Evolution in FP&A
- Finance struggled initially with machine learning due to reliance on smoothed accounting data.
- Moving upstream to operational data unlocks AI's true forecasting potential in FP&A.
CFO Evolution History
- CFO role emerged post-1970 due to market complexity, need for financial strategy, and data availability.
- The rise of FP&A supports CFO as a forward-looking business partner.
CFO Role Origins
- In 1970, the CFO was not a defined role; it originated from controllers and accountants.
- Sarbanes-Oxley and financial market changes shaped CFO responsibilities to be broader and more strategic.