How can process mining optimize your business? Following our last blog, we will take you through some of the key ways that your business can benefit from process mining.
Invisible bottlenecks, which seriously slow down business processes, are often left undealt with. This is because companies usually don’t have access to real-time data on how their processes are operating. In consequence, they are left unaware of such bottlenecks and delays in the process. The solution, then, is to find the right tools to give you the right data. Process mining is a powerful technological development that allows you to automate and streamline your operations. How? By identifying your best practices and disseminating them across your business. This reduces waste, allocates physical and human resources efficiently, and allows for faster responses to internal and external changes.
This blog will take you through the top 5 benefits of process mining. For information on what process mining is, check out our blog What is Process Mining.
1. Gain Crucial Insight
Process mining is an analytical tool used to discover and visualise your business processes. It does this by capturing raw data from your system data and logs. When people are involved in business processes, there is greater scope for mistakes and inefficiency (due to human error) and these practices may go on for a long time before it is visible. Process mining helps identify process flows and variants and presents it to you in an easy-to-understand way, allowing you to reap the benefits relatively quickly. Insight like this is the difference that makes process optimisation successful. Gaining 100% information coverage and having no activity escape the eye allows you to act on facts, not assumptions. Because of this, you can streamline and enhance activities at any point in your business process.
2. Process standardisation
Process mining tools enable processes that follow non-standard procedures to become visible. This allows your team to have an equal level of understanding on how to pave the way to process standardisation. For example, a case study on Alliander showed that when they utilised process mining tools they identified that processes were slowed down because employees were unlearning their tasks. This was due to a lack of practice so, to resolve this issue, Alliander invested directly in retraining its staff and sped up its processes as a result. Without clear data on where issues are arising, Alliander may have invested resources, time and money on the wrong thing. Leveraging data like this also leads to high cost-reduction. For greater detail on process standardisation, have a read of our blog Achieving Business Process Standardisation.
3. Reduce costs
Once gaining insight into how your processes are running, you can enable process automation via Robotic Process Automation (RPA). This will eliminate unnecessary steps that increase costs. Process Mining Sector Scan held that 78% of process mining customers believe process mining is a critical enabler for RPA. To learn more on this take a look at our in-depth article on RPA. Further cost reduction is derived from enhancing customer service and compliance approaches.
Auditing is time and effort-intensive. Process mining software enables auditors to analyse data at a much faster rate. For example, a case study indicated that EY completed its end-customer process analysis in less than a week via its use of process mining tools. This is an example of cheaper and faster auditing. Another way that process mining helps improve compliance is via its promotion of faster reactions to non-compliant processes. By using the data gained from process mining on compliance, dashboards and alarms can be created with ease to identify compliance issues in real-time. Optimising compliance is more easily achieved through process mining. Very soon we will be publishing a blog that will go into greater detail about how to use process mining to improve compliance so keep your eyes peeled!
5. Customer Experience
Companies can enjoy the benefits of resolving process bottlenecks and harmonising inter-dependant processes via process mining. This is because they receive the exact data on what is occurring to influence their future decisions and streamline their business processes. With optimised processes, your business not only runs smoother but your customers can enjoy an easier and faster experience. As you can imagine this benefit is huge so we will be releasing a blog in greater detail on how process mining enhances the customer experience.
Process mining benefits every stage of your business. It is designed to reveal information on your business processes, which you otherwise may not have become aware of. This is why it is crucial to use and act on data to drive decisions and enhance your business processes. Acting on assumptions is not only a costly endeavour but one that will prevent you from advancing your business as far as you can. In doing this, you could lose sight of what is important to do today to meet your ultimate business goals.
Be sure to check out our other blogs to learn more about process mining and its benefits:
- Deliver System Migration Projects Faster and Better
- Accelerating Process Monitoring With Arkturus
- Accelerating Process Measurement With Arkturus
- Who Uses Business Process Mining
If you still have questions about process mining software, we would like to help. Contact us for a demo directly!