[Tanbir Jasimuddin]

Agile. That’s a complicated one. The first question is what do you think agile means? I find it frustrating that so many people have so many definitions for it – don’t get me started on when the real estate sector started calling things ‘agile working’.

The second question is around scope. Is it for individual projects? Or are you looking at an entire organisation change?

Finally, Agile is hard. Really hard. It’s not a process. It’s a mindset. You have to go all in, or it doesn’t work. The half way house (commonly referred to as ‘Wagile’) makes the problems worse. You have to come out of your structured siloed and sequential thinking. You trust and empower people, not performance manage and control them

[Chris Argent]

Thanks for your swift response.

Yes, sadly there are very few standard definitions or a common language.

I use “Agility is our ability to respond to the business” but that will mean different things to different teams.

Eg Appraise something, Fund something, Pay something… all with different scopes and time horizons.

[Cecile Parker]

Hi Chris et al,

For me, it is all about developing the skills and mindset necessary to quickly adapt and respond to changing circumstances, market conditions, and business requirements.

1. Adaptive Thinking to foster a mindset that embraces change and uncertainty. This includes encouraging team members to think creatively, explore alternative solutions, and adapt their strategies in response to evolving financial landscapes. The concept of Fail Fast!

2. Continuous Learning which requires a commitment to ongoing learning and development. Finance professionals should stay updated on industry trends, regulatory changes, and emerging technologies to make informed decisions and anticipate future challenges. We all need to do our CPD’s anyway!

3. Collaboration and Communication, Business Partnering! Ensure your team communicate and collaborate with different functions and departments. This involves sharing information, insights, and ideas in a timely manner to facilitate quick decision-making and problem-solving. Go and talk to people and get to know your business!

4. Flexibility and Adaptability: Agile finance teams are adept at adjusting their plans, priorities, and resource allocation as circumstances change. They are open to re-evaluating strategies and reallocating resources based on shifting business needs or unexpected events. We need to be on the ball and react quickly!

5. Technology Adoption which includes embracing and leveraging technology solutions that enhance efficiency and enable faster data analysis, reporting, and decision-making. This may involve using automation tools, advanced analytics, and cloud-based platforms to streamline financial processes. We need to get on the train of progress otherwise we will be left behind. This is also key to unlock non-value added time

And last but not least, as you have nothing if you don’t have a functioning team…

6. Stress Management and wellbeing. As leaders we have to support our people manage stress and maintain resilience in a dynamic and high-pressure environment. Training programs may include techniques for stress reduction, mindfulness, and maintaining work-life balance. Look after your people, they will look after your business!

[Chris Argent]

Excellent Cecile, I see all the above as enabling Agility ie: how we get there.

@tanbir-jasimuddin highlights the “WHAT” is needed as well as the “HOW”.

Great thread folks! ????

[Chris Argent]

Great mastermind on this! See my takeaways here – https://gencfo.codeomega.co.uk/members/lip5gcdxov/activity/7435/