I have asked to seek out new ideas and approaches to test design and execution which will help increase overall effiencies in our QA team.
Can anyone assist?
It would be easier to assist you in finding new ideas if you share your existing ideas. From topic I assume however that Exploratory Testing may be a new idea to you - http://www.sqaforums.com/showflat.php?Number=515349
?:the art of a constructive conflict perceived as a destructive diagnose.