10 Steps to Eliminate Friction in Business Processes

This guide outlines ten steps to identify and eliminate friction within business processes, aiming to enhance customer and employee experiences. Friction is defined as any disruption that prevents optimal experiences, which can lead to significant financial losses for companies. The document presents findings from a survey conducted by WEX in collaboration with Ipsos, revealing that business leaders estimate substantial annual losses due to inefficient processes and poor interdepartmental integration. The guide emphasizes the importance of addressing friction points, which vary across different organizational levels and functions, including finance, human resources, and operations. It highlights the impact of friction on employee retention and customer satisfaction, noting that a seamless experience is crucial for maintaining competitiveness. The document also discusses the ongoing challenges posed by the Great Resignation, which has intensified the focus on employee engagement and retention as critical friction points. By following the steps outlined, organizations can improve operational efficiency and enhance overall performance.