I mentioned this on Twitter earlier today --- Workflow is Recession Proof. I created the slide below in 2005 while working at K2 (a workflow and BPM company) to help describe to my colleagues and to our partners that workflow can help companies no matter what the market conditions are.
Does this mean that workflow by itself can save a company? No.
In a growing economy the rising tide raises all boats and almost any company can do well.
In a down economy the companies with the best processes win --- they get to survive and play another day. Those with inefficient (or non-existent) processes will be washed away with the receding tide.
Companies that take the time to understand their processes are often the best run companies in the world. Do they always succeed? No. However, they often have a better pulse on the the economy and the way their business will be affected.
What started the tweet about workflow being recession proof was this:
To which I replied with this:
Which is effectively saying the same thing. Sharpen the Saw (to quote Stephen Covey) before you have to get to the heavy work.
I’ll say it again “Workflow is Recession Proof” the vendors that make workflow software and the system integration partners that design, develop, and deploy workflow based solutions can do very well in the current market conditions. Will every vendor succeed? No. They are subject to the same market conditions as everyone else and they may not be able to optimize their own processes. In fact, just today BearingPoint (a global system integrator) filed for bankruptcy protection).
When done right, companies that implement well designed workflow systems should be able to ride out the current economic crisis. Will they have challenges? Sure. However, a solid understanding of their processes will help them stay a step ahead of those firms that have not taken the time to really understand their business.
If you have a different opinion please comment here or drop me a line at at of the contact points below. If you liked this story please pass it on.
I have spent the better part of the last 16 years working in various aspects of the ECM space. I spent time at Kofax, Microsoft, FileNet, K2, and most recently Captaris (which was acquired by Open Text in Nov 2008). Prior to that I was a Unix VAR running my own company. Follow me on Twitter, check my blog, send email or find me on Facebook or LinkedIn.
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