19 Aug Jump into the Agile-DevOps movement
The Agile-DevOps movement is alive, well, and thriving, but it can pique curiosity and raise concerns or doubts. Since the approach is mainly associated with software engineering, it may come across as imposing or seem limited to certain kinds of companies. However, despite popular belief, it can be implemented in all types of firms or industries and even adapted to the reality of financial services industry professionals.
While many companies have already taken the leap, perhaps you’re wondering if you should follow suit. Which brings many questions to light. Is it right for us? Do we have the necessary resources? Is it really worthwhile for us? Our Vice President of Software Engineering, Guillaume Girard, has some insights to share.
What is Agile-DevOps and what does it entail for a company?
Agile and DevOps methods are increasingly used in the industry. They enable companies to focus on what creates the most value for their clients and their business. These methods also enable companies to provide value without delay and reap expected benefits. Companies find themselves in position to readily adapt to and maneuver the changes our industry faces daily.
Why should firms in the financial services industry adopt this approach?
Because market position is precarious. To improve their positioning, firms must put their best ideas first and do so consistently. Ideally, advisors, portfolio managers, compliance teams, or any other firm group should maintain an up-to-date list of activities to be carried out and emphasized. This will help identify initiatives and projects of high value.
Agility fosters a strong sense of belonging within self-organized agile teams, which presents a significant advantage for hiring, especially when you consider today’s raging talent war. Talented individuals prefer solving problems over following orders.
When transitioning to DevOps, what challenges will we face?
There are three things to keep an eye on: people, process, and tools. The one that will represent your biggest challenge depends a lot on your organization as it changes. More often than not, the people aspect is particularly difficult to figure out and optimize, since the symptoms of culture shock manifest as soon as the agile approach brings differences to light. The process aspect can also slow down organizations who are scared of making mistakes and haven’t adopted the fail fast approach. Finally, underfunding tools can slow down an organization’s transformation if no changes are made.
How can we guarantee the efficiency and success of our transformation?
Communication, and specifically face-to-face communication, is key. All questions must be answered and addressed to ensure buy-in, no matter the work context. Moreover, the change must take root within and stem from the teams generating the most value for the company; it’s what you’d call a bottom-up transformation. Support and a work pace adapted to the concerned teams’ capacity are the keys to success for this kind of transformation, much more so than a plan with overly specific deadlines.
How can we engage employees and clients as we make the transition?
Make sure you can demonstrate to key stakeholders the value in undertaking such a large proposition before moving forward. Continuous support and training in Agile and DevOps methods helps guarantee success. When leaders provide new teams a safe environment where fast failure is encouraged, employees are more apt to engage with their products.
How do you envision Croesus and the DevOps approach?
Our vision is to enable all stakeholders to express their opinions on our products to ensure that the highest-value idea for our clients and the company is promoted at all times. We will do everything in our power to foster winning conditions so our employees can see how they shape the future of Croesus and our loyal clients, one story at a time.
Croesus is pursuing the Agile-DevOps adventure under Guillaume Girard’s direction. As a fintech, we believe there are tangible benefits to be gained as we grow within the technological solutions industry for wealth management. What about you? Ready to take the leap?