More than 45% of companies or business organizations globally regard process mining as one of the most important digitization levers. Why? Because process mining often goes beyond Business Process Management (BPM).
BPM gives an overview of businesses, while process mining focuses on deepening into individual details and processes. Only when businesses have gained detailed insights into an existing individual process can they create error-free foundations for automated technological developments?
What is Process Mining?
It is a powerful tool that provides invaluable insight into business processes and may help you improve automation, quality, and efficiency. By analyzing business data from different transactional systems, the tool will help you identify inefficiencies/bottlenecks, improve processes, and generate insights.
However, with many tools available, how can you determine the most suitable one for your business? The following are key features to prioritize:
- Process intelligence and discovery
- Data connectivity
- Pre-built connectors
- Data ingestion
Optimization of Business Operations through Process Mining
The tool holds a lot of benefits that serve many industries, including the law sector. It has become an important and invaluable technology businesses use to optimize their operations in just ten years. Here is how the tool optimizes business operations:
Make a Data-Driven Decision
One way to strengthen your business is to consider using its data when making decisions. To do just that effectively, you need access to the available data and ensure it is accurate and quality. You also have to ensure you have strong tools to guide you in analyzing and visualizing that data.
Data might be limited to many business processes. However, all the data will be available through process mining. The tool’s job is to give us access to helpful data that other types of tools can’t.
Enhance Rule Accuracy
The tool provides data-driven approaches to understanding how different rules are often applied in real-world situations. Imagine retail companies using rule engines to manage inventory across many warehouses. By assessing historical data, the tool can help disclose patterns in shipping delays, order processing times, and stock levels.
This, in turn, enables us to fine-tune our rules to reflect actual business processes, resulting in better customer outcomes, minimizing errors, and improving accuracy.
Improve Compliance
The tool helps companies stay compliant by catching errors before they become an issue. For instance, a company’s accounting department might incorrectly keep financial data. If the tool analyzes the processes of that accounting department, it will discover the error and even recommend that the team change its data storage procedures before the company gets penalized.
Increase Transparency and Visibility
Process mining can greatly improve our businesses’ transparency and visibility. This proves helpful in improving digital transformation, helping businesses visualize the reality of different operations.
In conclusion, businesses need to explore process mining more as the field evolves and grows. They must also invest in development and training to build in-house expertise. By better understanding the tool, businesses and their team members can leverage its abilities for specific needs.