In a recently published whitepaper, Why top-performing companies create process centers of excellence, Nintex CEO Eric Johnson shares commonalities between every successful business in this modern age. Spoiler alert: it’s by prioritizing Process Centers of Excellence (CoE).
What is a Process Center of Excellence?
According to the Wall Street Journal, a CoE sets priorities, standardizes procedures and collects best practices for business initiatives – acting as a central governing body for the entire organization.
A process CoE brings together stakeholders from across the organization to create a single, well-defined group that is responsible for making decisions when it comes to companywide processes.
The importance of a Process CoE
In every industry, CXOs are evaluating their companywide progress toward becoming digital enterprises and often asking, “Why aren’t we making more progress more quickly?”
It’s safe to rule out a lack of focus at this point – considering digital transformation moved to every team’s top priority list. It’s probably not funding either, because CEOs know that their company’s future depends on aggressively investing into the business.
What’s missing when the digital transformation isn’t happening at the rate your business wants it to? The answer is quite simple. There’s a lack of process excellence.
The evidence that we need
This issue usually exposes itself through processes that are mismatched, misaligned, fragmented in silos, and flat-out inefficient. In fact, when a global pandemic forced a massive shift to remote work, 66.7% of companies reported their processes either could not support the remote environment or could do so only partially – according to the 2020 Forrester Digital Process Automation survey.
Yes, you saw that right. Over 2/3 of organizations surveyed are encountering process drawbacks.
What do successful companies have in common?
A formalized Process Center of Excellence. Maybe it falls under a different name, such as business process competency centers or centers of expertise, but the purpose remains the same: a group of professionals who continually optimize and standardize processes companywide.
The benefits of a Process CoE
As that collaboration builds around a set of shared priorities, approaches, and ultimately processes, these Process CoE’s will create an operational excellence (OPEX) culture that has multiple enduring benefits for the organization:
- Creating a widespread awareness and understanding of what is possible if this new approach is followed
- Accelerating the speed with which new projects can be assessed, mapped out, and executed
- Reducing the amount of rework, integration, and expense that inevitably arises when fragmented processes have to be stitched together.
- Provides greater visibility into end-to-end process and outcomes across the business.
- Optimizing change-management opportunities because common frameworks are already in place and are understood across the organization.
- Orchestrates and accelerates your business digital maturity allowing for faster long-term innovation and change to keep up with your forever evolving customer demands.
About the Leadership Insights series
In our newest series, Leadership Insights, Nintex CEO Eric Johnson shares thought-leadership pieces to help you build successful processes automation initiatives for your team, project, organization, or wherever your mission-critical work happens.
Visit the Leadership Insights page to download and access all resources currently available – with more coming throughout the rest of 2021!