There’s a lot of attention being paid to the concept of agility right now. Given the world we’re living in, that’s hardly surprising. Against a backdrop of uncertainty, agile businesses have the ability to rapidly adjust their people and processes to create more value and react quickly to changing conditions. Yet, from a finance perspective, defining what we mean by agility can be tricky.
In the previous article, we looked at five key areas for finance leaders to explore in order to guide their businesses through persistent change. Below, we dive into four specific elements of business agility, exploring finance’s role in aligning data, processes, and technology to support continuous change.
Perform Continuous “What-If” Scenario Modeling
Volatile conditions demand rapid scenario modeling to help companies respond with speed and insight to market disruption. My colleague Kinnari Desai has previously discussed best practices for financial scenario modeling, and it remains a crucial component for businesses looking to make data-driven decisions that help them grow and thrive as the world of work continues to evolve.
According to McKinsey in the article “No Longer on Autopilot: Lessons