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Top 5 Benefits of Process Mining

Oct 3, 2023 | 3 min read

In today’s business environment, where economic reality is unpredictable and technology is ever-changing, companies are feeling the pressure to quickly adapt and digitally transform. This pressure, however can be a good thing – we all know how diamonds are formed.

Process mining can spur on a business’s technological evolution and unlock all kinds of benefits for the business and customer alike. Process mining digs into the event logs of key business applications to give an incredibly rich and specific record of the actions that employees follow to complete their day-to-day tasks.

Process mining enables a comprehensive understanding of every step within a business process. The result is a clear visual representation of the end-to-end flow, providing transparency and insights.

In this blog, we’ll dive into the top five benefits that process mining can unlock for your business, and how this can be achieved.

Increased Process Transparency

Digging deep into your processes and mapping each step of the way gives you a clear and complete view of exactly what happens from start to end. The result is something that is essential for optimal business operations: transparency. There won’t be any hidden steps that could be missed if you aren’t the person undertaking the process – everything will be revealed in the process mapping process.

The transparency you gain from process mining helps you adapt and finetune your existing processes and find new ways to optimize every step. It shows you where there are bottlenecks, inefficiencies, and compliance issues. This allows you to drill down into these details and remove the obstacles that create inefficiency.

Enhanced Data-Driven Decision Making

Data-driven decision making is a capability that many organizations aspire to. Process mining is a true enabler of this as it provides high-quality data, visibility, and visualization. This allows organizations to make data-driven decisions, optimize processes, and uncover opportunities to improve.

The information you gain from process mining means that you’re no longer just guessing how to optimize your processes. Instead, you have evidence-based insights you can trust to make improvements to your business processes. Process mining is an unbiased approach that points out both the successful aspects of your business and the areas with scope for improvement.

Compliance and Risk Management

Another benefit of process mining relates to compliance and risk management. Ensuring that your business is operating with the minimum level of risk and complying with regulations that apply to your industry are crucial tasks that could have serious ramifications if neglected. For example, European businesses who fail to comply with GDPR regulations can expect “a fine of up to €20 million or 4% of the business’s total annual worldwide turnover,” according to the European Commission.

Although you can never be 100% risk free when it comes to doing business, it’s always preferable to minimize risk, and process mining can help you do this. It can detect deviations from defined processes that could cause problems and highlight areas where you need to either refine the process or re-educate employees about how they operate. The clarity you gain from better visibility into your processes helps you identify potential risks, control any weaknesses, and detect potentially fraudulent activities.

Time and Cost Savings

We know that cost efficiency is often the key outcome that companies want to achieve. The combination of all the benefits above unlocks huge levels of cost and time savings, which are both high on the agenda for organizations of all sizes.

A key way in which companies can save money – thanks to process mining – is through speeding up processes by removing unnecessary steps. Speeding up processes means that, cumulatively, your business can carry out more operations in less time – and time is money. This also means that fewer staff hours are needed to monitor the processes and carry out any manual work. This frees up your employees to spend their time on activities that contribute directly to business outcomes.

Roboyo worked with a leading biopharmaceuticals company to implement process mining and execution management. The goal was to accelerate its digital transformation and take its processes to the next level. The result? By implementing eight end-to-end processes to streamline operations, Roboyo and the organization generated an annual savings potential of almost €2.3 million. In just three weeks of going live with the first action flow, the biopharma organization unlocked bottom line savings of €350,000.

Continuous Process Improvement

Process mining gives you an automated feedback loop for monitoring and adjusting business processes. It’s not a “one-and-done” approach, instead process mining enables continuous improvement. This is because you can keep investigating your processes as they evolve and highlight further areas for refinement or adaptation. This means that you can keep on improving your processes, so that they operate at the most efficient and compliant level.

All businesses should aim for a culture of continuous improvement, and embedding process mining into the mix is a good way to enable this. Continuously improving your business operations and processes means you can be an agile, adaptable business – fit for the future and for delivering the highest level of customer satisfaction.

Process mining is an approach that unlocks multiple significant benefits for your business. And thanks to the principle of continuous improvement, once it’s embedded in your organization it can deliver value for years to come and help futureproof your operations.

To find out how you can become a data-driven organization and achieve greater cost savings, efficiency, agility, and more, book a meeting now.

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