"Excellence in operations demands mastering complexity," as noted by Gary Pinkus, the Chairman of McKinsey for North America. In an ecosystem where business requirements constantly evolve, process optimization becomes key. It is here that effective Workflow Management takes precedence. It helps strategize, streamline, and evolve business operations for optimal performance.
The Significance of Workflow Management
In an effort to adapt and thrive, organizations realize Workflow Management isn’t a one-time initiative but an ongoing commitment. According to a recent PwC report, organizations featuring Workflow Management as part of their foundation saw a 15% increase in productivity and a 20% increase in overall efficiency. Workflow Management can eliminate bottlenecks, reduce duplicative efforts, and enhance transparency, ultimately making a positive impact on the bottom line.
Elements of Successful Workflow Management
To leverage Workflow Management for improved operational efficiency, there are certain core principles and best practices you must follow:
Process Mapping: Before you can optimize any process, a thorough understanding is a must. Accenture suggests a visual mapping, laying out every step, decision point, and role included.
Automation: By automating repetitive tasks, organizations can free up resources, reduce errors, and speed up processes. According to a McKinsey report, businesses that automate at least 50% of their processes see up to a 20% increase in efficiency.
Performance Metrics: According to Bain & Company, regular tracking of key performance indicators can lead to continuous improvement, helping organizations tweak workflows for maximum operational efficiency.
Adaptability: The ability to pivot when necessary is crucial in Workflow Management. Goldman Sachs hails this as the key to success in a rapidly changing business landscape, recommending regular evaluations and adjustments where necessary.
Pioneering Evolution through Workflow Management
Beyond the generic application, Workflow Management can drive transformative results as part of larger Digital Transformation or Change Management initiatives. An EY study stressed the significance of Workflow Management in evolving business models and operating models, and in managing risks. It lacks the typical delays of traditional hierarchical decision-making or siloed departmental responsibilities, encouraging a more collaborative and cross-functional culture. For instance, retail giant Walmart leveraged Workflow Management to achieve almost real-time logistics, pushing them to the forefront of efficiency and customer satisfaction.
The McKinsey Agenda towards Proficient Workflow Management
Integrate the Workflows: By integrating workflows across the organization, you get a fuller picture, helping to make more precise and effective decisions.
Harmonize : Consistent platforms, standards, and interfaces simplify interactions and reduce the complexity of operations, significantly improving workflow.
Digitize: Digital Transformation is no longer optional. Program management offices, decision-making bodies, and digital war rooms have digitized to hasten decision-making.
Innovate: Continuous improvement is the name of the game. It highlights inefficiencies, adapting and catering to the ever-evolving objectives of the organization.
Empower: Freed from mundane tasks due to automation, employees can focus on high-value responsibilities, promoting employee satisfaction and productivity.
Staying Ahead with Workflow Management
No longer just a back-office task, Workflow Management expands beyond business processes, into the realm of knowledge work. A well-executed Workflow Management regime brings in the best of Operational Excellence and Business Transformation, transcending traditional limitations. As we embrace an era of rapid business evolution and increasing complexity, Workflow Management’s role in ensuring businesses stay ahead of the curve cannot be overstated.
CUSTOMER TESTIMONIALS
"As a consulting firm, we had been creating subject matter training materials for our people and found the excellent materials on Flevy, which saved us 100's of hours of re-creating what already exists on the Flevy materials we purchased."
– Michael Evans, Managing Director at Newport LLC
"[Flevy] produces some great work that has been/continues to be of immense help not only to myself, but as I seek to provide professional services to my clients, it give me a large "tool box" of resources that are critical to provide them with the quality of service and outcomes they are expecting."
– Royston Knowles, Executive with 50+ Years of Board Level Experience
"My FlevyPro subscription provides me with the most popular frameworks and decks in demand in today’s market. They not only augment my existing consulting and coaching offerings and delivery, but also keep me abreast of the latest trends, inspire new products and service offerings for my practice, and educate me in a fraction of the time and money of other solutions. I strongly recommend FlevyPro to any consultant serious about success."
– Bill Branson, Founder at Strategic Business Architects
"As an Independent Management Consultant, I find Flevy to add great value as a source of best practices, templates and information on new trends. Flevy has matured and the quality and quantity of the library is excellent. Lastly the price charged is reasonable, creating a win-win value for the customer, Flevy and the various authors. This is truly a service that benefits the consulting industry and associated clients. Thanks for providing this service. "
– Jim Schoen, Principal at FRC Group
"If you are looking for great resources to save time with your business presentations, Flevy is truly a value-added resource. Flevy has done all the work for you and we will continue to utilize Flevy as a source to extract up-to-date information and data for our virtual and onsite presentations!"
– Debbi Saffo, President at The NiKhar Group
"One of the great discoveries that I have made for my business is the Flevy library of training materials.
As a Lean Transformation Expert, I am always making presentations to clients on a variety of topics: Training, Transformation, Total Productive Maintenance, Culture, Coaching, Tools, Leadership Behavior, etc. Flevy usually has just what I need to make my point.
It is well worth the money to purchase these presentations. Sure, I have the knowledge and information to make my point. It is another thing to create a presentation that captures what I want to say. Flevy has saved me countless hours of preparation time that is much better spent with implementation that will actually save money for my clients."
– Ed Kemmerling, Senior Lean Transformation Expert at PMG
"I have found Flevy to be an amazing resource and library of useful presentations for lean sigma, change management and so many other topics. This has reduced the time I need to spend on preparing for my performance consultation. The library is easily accessible and updates are regularly provided. A wealth of great information."
– Cynthia Howard RN, PhD, Executive Coach at Ei Leadership
"I have used FlevyPro for several business applications. It is a great complement to working with expensive consultants. The quality and effectiveness of the tools are of the highest standards."
– Moritz Bernhoerster, Global Sourcing Director at Fortune 500
SELECT CUSTOMERS
Since 2012, we have provided best practices to over 10,000 businesses and organizations of all sizes across the world—in over 130 countries.
Below is just a very small sample of our customer base.
Did you know?
The average daily rate of a McKinsey consultant is $6,625 (not including expenses). The average price of a Flevy document is $65.
Download our free compilation of 50+ Strategy & Transformation slides and templates. Frameworks include McKinsey 7-S Strategy Model, Balanced Scorecard, Disruptive Innovation, BCG Experience Curve, and many more.
Download our free compilation of 50+ Strategy & Transformation slides and templates. Frameworks include McKinsey 7-S Strategy Model, Balanced Scorecard, Disruptive Innovation, BCG Experience Curve, and many more.