AGILE BUDGETS. AGILE CONTRACTS. WHAT HAPPENS WHEN FINANCIAL NEED MEETS MARKET REALITY?
Market and business uncertainty has created an unprecedented need for agile and adaptable systems and processes. Finance is at the forefront, struggling to set and manage budgets, forecasts and cash flow in today’s unpredictable conditions.
Contracts are fundamental management tools and sources of information. For most industries, they drive revenue and for all industries they control spend – both external with suppliers and internal with employees and contract staff. But can they really become adaptive in ways that will better support the challenges that Finance faces? Is ‘agility’ achievable – and if so , how?
Join us as we bring together three experts from the fields of finance, contracts and agile methods to discuss how we can best respond to the challenges of the market.
The recording
To hear the panel with Tim Cummins, Rikard Olsson & Mirko Kleiner watch the video.
Our Conclusions
Commercial functions is a design from the past and needs to be adapted too to achieve true Business Agility
Automatization & Digitalization will support the need for real time information / performance and decrease traditional reporting
Relevant informations will be defined much more outcome-based by the business, while e.g. forecasts depend on empirical data and yearly budgets will become a too static thing from the past
Ownership of financial needs more and more needs to be transferred to the value creation part of the organization
Commercial Capabilities are still important but might be organized much closer to the market as today
To react even faster to changing market needs the contracts / contractual frameworks need to become much more flexible than today
our suppliers need to become our strategic partners, that co-develop / -server the market needs jointly
More about the Panelist’s
Tim Cummins is founder and President of the global Alliance World Commerce & Contracting (formerly IACCM), Professor, Leeds University School of Law; Chair, International Commercial & Contract Management
Rikard Olsson is Managing Director at Beyond Budgeting Ltd (Beyond Budgeting Roundtable and Beyond Budgeting Advisory) & Board Member at Ekan Management
Mirko Kleiner is the President of the Lean-Agile Procurement Alliance, Thought Leader in Lean-Agile Procurement, CIPS Award Winner 2018, international speaker and co-founder of Flowdays – The Agile Cooperative. Mirko supports their customers as an Agile Enterprise Coach on their journeys to create a positive impact for their employees, customers and shareholder.
OUR PARTNER
A big thank you goes to the WCC team who supports us in increasing the global awareness of agile in Procurement.
To learn more about WCC check their website: https://www.iaccm.com
To learn more about Beyond Budgeting check their website: https://bbrt.org