For the past several years, process improvement has become increasingly prioritized by the shared services and Global Business Services (GBS) community. According to the 2023 “State of Shared Services and Outsourcing Global Market Report,” 87% of shared services view end-to-end (E2E) process integration as a top priority for 2023, up from 81% in 2022. However, many in the industry are yet to reach this goal. In fact, only 29% of companies believe they are advanced or close to expert in process maturity (having implemented end-to-end process management and/ or benefiting from closed-loop feedback).
With so many organizations yet to arrive at their desired level of process maturity, global factors show that now is the time for organizations to improve their process capabilities.
Currently, the global economy is facing several challenges, including inflation, supply chain disruptions, and the war in Ukraine. This uncertainty makes it more important than ever for businesses to have strong process improvement capabilities. By improving their processes, businesses can become more resilient and better able to adapt to change. Similarly, process failure can lead to lost revenue, increased costs, and customer dissatisfaction, all of which can breed disaster during a time of economic uncertainty. On the other hand, by addressing process shortcomings businesses give themselves an advantage in this competitive market by granting themselves the ability to cut costs, improve efficiency, and ultimately, increase profitability.
In order to create a sustainable process, one built to flex around a volatile economy, you need an end-to-end process that is agile and digitally enabled. However, many processes have evolved ad-hoc due to a sudden business need or personnel change, meaning the chances are they are not future-proof.
The following report will explain that to realize this end-to-end process excellence
objective, organizations need to map and outline their processes to achieve visibility into their current operations. Readers of the report will walk away with an understanding of the following:
- An analysis of the common challenges in a process improvement journey.
- The key factors businesses must consider when selecting a process mapping tool.
- How to identify if your process improvement campaign was a success.