Business Processes are an organization’s secret sauce for delivering superior business outcomes, differentiated customer experience and optimal operational efficiency. Companies need to run their business operations in the most efficient manner possible to remain competitive while providing maximum transparency to remain compliant. Today, most companies audit their processes regularly to:
- Identify key areas of improvement
- Discover friction in the process
- Uncover if the process has deviated from its operating norm
Using Process Mining technology, Princeton Blue can help you gain complete visibility into the actual execution of your processes, identify actionable insights and take appropriate steps to keep your processes competitive, cost-effective and compliant.
What is Process Mining?
Process mining is an analytical discipline for discovering, monitoring, and improving currently operating processes (and learn how differently they run from how you expect them to run). This is done by extracting information from key enterprise application event logs and identifying friction points during process execution using advanced algorithms and analytics. Process mining offers objective, fact-based insights, derived from actual data, that help you audit, analyze, and improve your existing business processes by monitoring compliance-related and performance-related metrics.
Eliminate Process Friction
Just like in the physical world, friction in the process world has a negative impact on the business outcome. Examples of process friction include:
- Manual workaround to compensate for a missing capability in an underlying system
- Data maintained manually in Excel sheets that only one person in the process has access to
- Non-standard exception paths followed in the process to meet critical timeline pressures
According to IDC research, most companies are unaware that their processes aren’t performing at maximum efficiency due to this friction, and 20%-30% of their revenue is lost as a result.
Process Mining helps you detect such process friction and provides you with options to eliminate it once and for all.
Tap into your Process Data
Process mining allows you to tap into the goldmine of your process data across your organization, by following the actual process execution flow and analyzing the application log of the systems it touches. Process Mining gives you the following three capabilities by analyzing this process data:
- Discover: Get complete transparency of your as-is processes and explore every step and deviation to identify points of friction.
- Enhance: Automate tasks and get suggestions for intelligent actions to ensure that you set the right priorities and run your processes in the most efficient way.
- Monitor: Track your processes with full transparency, and benefit from internal and external process benchmarking.
How is Process Mining Performed?
Every interaction in your business process leaves a digital footprint — raw data that can be turned into a record of actions taken. To discover the actual process execution and underlying friction, Process Mining uses Event Logs containing three pieces of information – Case ID, Activities, and Timestamp
- Case ID: A unique identifier that separates one case from another
- Activities: Activities performed in a business process from start to end
- Timestamp: Date and time of the activities performed in the process
Process Mining Workflow
Process mining extracts and transforms data from various event logs. It reconstructs the data and analyzes it to see how your processes actually flow. By looking into process deviations and timestamps for different activities it identifies the friction points within those processes. Once the friction points are identified, you can drill down to find the root cause for process deviations. The drill down will allow you to understand the impact of the friction points within your business processes. You can then prioritize your response to find the best path within your process to meet the business objective more efficiently.
Celonis Process Mining
Celonis is the recognized market leader in Process Mining. With the most advanced and innovative Process Mining technology on the market today, Celonis can deliver a data-driven process view in minutes, allowing you to measure the execution capacity of a process in real time, get 100% visibility into your processes, and identify root cause of the execution gaps.
The Celonis platform includes the following key capabilities:
How can Princeton Blue help?
Princeton Blue is a trusted partner of Celonis and offers you consulting services to take advantage this innovative Process Mining technology to eliminate process friction and achieve superior process performance.
- Discover your process – See exactly how your process flows through your organization with a rich, dynamic, visual representation based on your own data and rules.
- Identify friction points – Audit your processes to identify inefficiencies and problems.
- Eliminate process bottlenecks – Get actionable insights to streamline operations and drive growth
- Process Automation – Increase efficiency and productivity by automating the end-to-end business process.