There are different ways firms try to improve the efficiency and effectiveness of their processes. Some research and study what other firms do and try to implement their "best practices." Others rely on best practices from technology and software partners. And some use a small management team to make changes that are then driven down into the organization.
Which of these approaches has your firm used? How effective has it been? You should be looking at more than just being effective. The real question is how effective are you at servicing clients in an exceptional way?
There are flaws in many of the traditional process improvement measures firms have tried in the past. Can you see the common theme that exists in each of the following situations?
So, what's the common theme? If you said that the people doing the work aren't the ones developing the process, you're on the right track. In each of the situations above, issues with your current process, your foundation, were never addressed. The only way to address and understand these issues is by using a cross-functional team consisting of representatives from different areas of your practice - the people who walk the walk every day.
A cross-functional team, combined with an objective facilitator, will identify problems in the current process. They will tell you where work is being done that doesn't add value to anyone in the firm or the client. By having this group focus on the "voice of the client" (both internal and external clients), you truly can deliver exceptional service.
It isn't rocket science, but it's a sure-fire way to see gains in realization, profitability and ultimately client satisfaction. Focus on adding value to clients, not cumbersome activities that bog down your process.