What Is Agile Finance?
Agile finance is the future of finance. Not one particular thing, it’s a series of functions and strategies designed to boost the efficiency and effectiveness of an organization.
Agile finance is not tied to a particular type of organization; small, midsize, and enterprise-level organizations can all benefit from introducing agile finance in their business.
Agile finance has its roots in the software industry, and was used by developers that were looking for a more cohesive way to develop and introduce new software applications.
The original agile manifesto, as it relates to software, emphasized rapid decision-making, collaboration, and the importance of customer satisfaction.
With the success of Agile in the software industry, finance leaders, business teams and analysts began to look at the possibility of adapting Agile principles for use in the finance industry.
Using the Scrum framework that is more easily adaptable for businesses, finance organizations can to take a longer look at this finance function that is flexible, scalable, profitable, and efficient.
The agile approach for businesses focuses on digital transformation and business agility. Collaboration is also important, with teams working together to produce the best product.
Finally, another valuable part of agile is reflection and review, with all stakeholders responsible for finding ways to become more effective while still maintaining proper risk management processes.