Searching for process flaws can be frustrating. But every problem always has its solution. Thus, we are introducing you to the most innovative approach to process optimization – process mining. Let’s discover what this technology is about and what value can it bring to your business.
As business globalization takes place and large enterprises grow in their goal to serve customers’ needs anywhere and anytime, Business Process Management starts to play a major role. Hence, as a set of techniques that help top management better organize and automate operational processes, BPM is now crucial for big companies.
As you probably know, BPM tools allow chief officers and top managers to take full control of corporate efficiency, turn processes into automated flows, keep operations aligned with goals and strategies, and make sure all gaps are detected and fixed.
But where does process mining come into the game?
Is it something your organization needs?
And how exactly can analytical tools help your business grow?
Let’s dive in!
Is it a Business Process Management tool?
Process mining is a method of gathering enterprise data (event logs) and processing this data into a visual workflow for monitoring and analysis.
Going through the tool that combines data mining and process analysis, organizations can detect gaps and loops in corporate operations, prioritize work towards efficiency, define opportunities and make conclusions for further business growth.
The process mining value is in its enablement to see through the noise. To put it easier way, imagine your company as a human body. Indeed, both of these are complex systems of elements working in conjunction. If there is a flaw in this system, a process mining tool is like an advanced X-ray. It allows you not only see where the problem is, but also understand its cause, how it affects other organs, and how you can prevent its appearance in the future.
Isn’t it great?
A more advanced BPM approach
Where other BPM approaches commonly rely on labor-intensive work to interview and draw out process graphs, process mining is fully based on automated back-end corporate data. So, while it not only gives you factual insights into your processes, it will also reduce the labor costs to realize it.
Thus, tools like ProcessGold allow companies to analyze large data sets consisting of thousands or even millions of events. Taking this into account, companies now can take complete control of their organization, using smart process analysis as their secret weapon.
Has your competitor suddenly grown? Maybe they discovered process mining before you.
In order to achieve better results in the future, companies should have a careful look at their past. Constantly analyzing previous deficiencies and missed opportunities, executives can improve process efficiency, prevent barriers and downtimes, and even predict future threats.
The story behind process mining
The first hints of process mining as an individual technology started at the Eindhoven University of Technology. This also happens to be the place where the majority of ProcessGold developers proudly come from.
Namely Prof.dr.ir. Wil van der Aalst started working on this technology in the late nineties, switching his focus from process automation to process-centered event log analysis. He is currently considered the godfather of process mining and the leading expert in the field.
Van der Aalst is currently working on further research, supporting the industry and seeking global process mining value awareness in the market and its technological development.
Many organizations are still unaware of the possibilities; however, the ones that adopted process mining see significant savings and efficiency improvements. Many people who see it in action for the first time ask, “Why did I not know about the existence of process mining?” – Prof.dr.ir. Van der Aalst for Gartner, 2018
Uniquely, with various (mostly Computer Science) students working on this field, software providers started appearing and now there is a large choice of well-developed platforms, that allow you take the most out of your data.
Process mining value, tools and solutions
First thing to remember – using a process mining tool will allow you to get a grip on processes in your organization before the audit company comes in. Besides, it’s a great chance to take control of your data and start making better decisions based on facts rather than intuition.
Process mining solutions help companies detect the most minor issues, strengthen operations, point at the most cost-effective actions, reduce throughput time, and meet customers’ needs.
It also solves your struggles of structuring things and defining the bottlenecks in any, again, any type of process.
Serving as a guide into internal processes, it has recently become a highly demanded technology in a competitive market.
Whether we are looking into a large audit corporation, a chain of banks or an international fast-moving consumer goods organization – business processes play an important role in a company’s path to success. But as companies grow – the more things sneak out of control. That’s why it’s crucial to bring your data in and see the actual picture.
Process mining platform lets you upload your data, extract event logs, and transform it into a visually appealing workflow for further analysis. With this in mind, the capabilities of such tools can reach the level of fully–fledged enterprise-ready software and work with big data. Thus, you can see the entire functionality of your organization in one platform.
We are literally looking into an innovative way of getting the needle out of a haystack.
Industries and use cases
According to Gartner’s Market Guide for Process Mining, the technology is already popular among audit, banking, and insurance companies. We can understand how huge the trend is by looking at the Big Four implementing process mining on their ends. As an example, together with ProcessGold Ernst&Young has decreased time spent on audit by 50%.
With all the attention it gets today, and the value process mining brings, it is destined to become a must-have tool for large enterprises in various industries. Large international organizations are paying more and more attention to this topic, employing process mining solutions and using it as a competitive advantage over those that haven’t discovered the approach yet.
Fortunately, process mining is applicable for any type of company or industry from Retail, FMCG, Manufacturing, Healthcare to Governmental institutions.
The process can be based on data from your ERP systems, workflow tool or any other databases, focusing on your main processes (e.g. production process) or support processes (Order to Cash, Purchase to Pay, Service Management).
Whether the company wants to use the platform as an end-user, or partner up with solution provider in order to create something of their own, ProcessGold provides its services equally to all users.
For either of them, the ProcessGold team has an assured smooth and fast data integration process, intuitive tool and constant support.
Sooner or later all the gathered data must be put in use and that’s what process mining is about. It builds a bridge between big data and business analytics, resulting in fewer errors throughout the process.
Indeed, process mining is a loud word in the future of BPM analysis, and we believe it will soon be an indispensable method of keeping the workflow under control.
Talk to us if you want to know how ProcessGold software can scan your company’s data and provide insights for your business improvement.