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Optimising financial processes

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What are the 7 Keys to Success for Process Leaders?


“I got the key to the highway, walking’s most too slow”

Agility

With changing business dynamics and increasing layers of complexity, expectations on leadership have increased. 

A current survey suggests that building capabilities focused on agility is the best bet to meet and exceed them.

What 2020 did to businesses worldwide is no secret. COVID-19 affected almost every function and process in one way or another.

Survey findings reveal that agility does, in fact, strongly correlate with higher overall performance.

This latest 2021 survey highlights key priorities;

Focus on relationships and influence across functions. This is the global, end-to-end process mindset we need

Define a truly balanced scorecard: Move beyond over simplistic, narrow focussed KPIs, towards the four dimensions of impact, and value as well as cost.

Leverage flexible workforce and resource deployment models: Agility requires us to develop talent and access capabilities, knowledge, and experience on-demand as well as through hybrid service delivery models

Spend more time on strategy and transformation:  Find new ways to optimize and automate, as well as operate the business

Invest in next-gen technologies: Exploit rapid response technologies and diagnostic analytics, visualization & predictive in line with strategic aims.

Get the digital house in order:  Look beyond functions to processes, exploiting data across applications.

Adopt an agile mindset:  Eliminate roadblocks and move quickly and iteratively with all stakeholders to deliver strategically aligned value to the business. Pareto Principle!

Now, you may not have guessed, but this is all from the Deloitte Global 2021 Chief Procurement Officer Survey. But reading it made me realize that this is not about Procurement per se, but is relevant to every process leader, and with our sustained focus on global, end-to-end process excellence, enabled by better collaboration, insight and orchestration, there is no better time to absorb the implications.

The survey was conducted by Deloitte in association with Odgers Berndtson and with input from Spend Matters.

The summary and a link to download the pdf to read the full survey report is here ..    .

Food for thought!