Agile Finance in Scenario Planning - Scott Geller

Scott Geller of Capitis Advisors, LLC - “The CFO Perspective”

Agile Finance in Scenario Planning

INTRODUCTION

I have 20 years of experience in the finance realm that started with the Federal Reserve Bank as a bank examiner, moved on to 7 years at a Fortune 300 insurance company, and then a 50-70 person spin-off technology firm under the Allianz umbrella of companies. I was with the spin-off from day zero all the way until the unfortunate end and I had to close down the business. I am now a financial consultant serving primarily as a fractional or part time CFO for companies that range from start ups to young and scaling to established with stable growth. I take over from the accountant as a lean cost effective option for Profits Engineering, Cash Optimization, Strategic Accelerator and Executive Partner committed to your success.

PROBLEM STATEMENT: The recent Agile wave in software development has definitely permeated other aspects of business, especially within today's ever changing world. Does your company bring agile to it's strategic planning and finance function? If it doesn't, then you are falling behind ...

WHAT YOU NEED TO KNOW

1. Agile isn't just IT
2. The Mindset
   1. Working in sprints
   2. Projects with frequent updates, reviews vs. long multi-step project
   3. Moving from work ... review ... work ... review ... work ... present rather than work ... work ... work ... present
3. Examples
   1. How many finance professionals has developed and finished a model, presented to an audience, and then receive the full explanation or actual/ changed need ... significant rework
      1. Company ... wasted time and effort
      2. Consulting ... ruins your margin and sometimes damages reputation

WHAT YOU NEED TO DO

1. How to apply?
   1. Work in sprints for finance
   2. Layman's description is operating with a "work ... review ... work ... review ... work ... present" approach rather than the traditional "work ... work ... work ... present."
   3. Build a Model as an iterative project
   4. Forecasting
      1. Regular updates vs. annual budgeting
      2. Started at previous company and apply with clients
      3. Cash, revenue, full financials, sales pipeline
2. Today's world for small businesses
   1. I hear about taking actions for TODAY
      1. cutting costs
      2. PPP
      3. talking to clients
      4. reaching out to vendors
3. Making decisions in real time and more agile spirit
4. Iterative budgeting process throughout the year
5. Looking ahead with an agile focus
   1. Model/forecast
   2. Scenarios for your company
   3. Proactive Solutions
6. Take the next step by looking ahead with the Agile focus through forecasting, scenario planning, and creating those proactive solutions that are so important for success or survival

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