What is Process Mining?
Traditionally, analysing and modelling a company’s business processes and KPIs are based on employee and customer interviews, workshops and other “qualitative” methods. This can be a good approach, possibly the only approach, especially for processes that are mostly manual, but it takes time, costs money, and forms a very subjective view. And it will rarely give you the full picture.
However, with increasing IT system usage in process execution, a wealth of information is recorded in various system or event logs in the form of time stamps. By extracting and reading these timestamps at various points along your process flow timeline, Process Mining software builds an instant visual model of a given flow. Leveraging this digital footprint, Process Mining software provides complete transparency into how the processes are actually working - that is present the facts — the evidence of real events that have happened.
It not only allows you to visualise the actual process, but also identify any deviations from an optimal process as well as understand the reasons for the deviation so that the necessary adjustments can be made.
Process Mining from ValueMetrics
ValueMetrics’ Process Mining solution is an intelligent technology that can analyse and visualise every process in your company. It reveals weaknesses and makes processes more transparent, faster, and more cost-effective. Ultimately making your business more efficient.
Typical Solutions Delivered Through Process Mining
Why choose ValueMetrics Process Mining Solutions?
Processes Where Process Mining Have Been Applied SuccessfullyProcess Mining have been applied successfully to the following processes with significant improvement results.
Supply Chain Management
Reduction in manual interventions in distribution50%
Reduction in transportation blocks causing late deliveries50%
Reduction in maverick buying in procurement40%
Increase in on-time delivery in logistics18%
Reduction in throughput time22%
Increase in machine utilisation15%
*Based on cases from various Process Mining Solutions
Reduction in the number of invoice corrections in accounts receivable80%
Reduction in duplicate payments in accounts payable67%
Reduction in lead time from delivery to invoice in accounts receivable50%
Reduction in resolution time in IT service management65%
Reduction in maintenance costs with master data management36%
Reduction in business-critical order changes causing late deliveries50%
What Could a ValueMetrics Process Mining Solution Do for You?
Gain Valuable Insight into How Your Business Really Runs
The beauty of Process Mining is that problems and improvement opportunities are broken down to such a level of detail that by often just making the right people in your organisation aware of them is sufficient in achieving real benefits and improved results. People in your organisation will quickly understand that their current way of working is not optimal, or even worse, that it’s counterproductive from an end-to-end process perspective. No investments or big change management initiatives are required to implement change, just making the issues visible and transparent is enough for you to see real improvement.
Easily Effect Change
To effect change, the problems that exist in your business have to be admitted and quantified first. Once an issue is prioritized, the Process Mining software will provide the necessary insight to understand what is causing the problems. With this specific insight it is easy to implement the required changes in the areas of your business that contributes to unwanted behaviour the most.
Process Mining also brings a lot of qualitative benefits that are hard to quantify in monetary terms. The most typical benefit is the “death” of non-value adding debates regarding actual problems or whether a KPI is showing the right results. Because Process Mining provides fact-based information and enables drilling down from a high-level KPI to actual low-level transactions no room is left for human interpretation or opinions.
Rapid Results Realisation
Gathering process information and data manually, from interviews and workshops, would be time-consuming, patchy and unreliable. With our Process Mining software tool, it takes a matter of days to gather and produce definitive results. Process Mining is about using smart software to continuously analyse and visualise the flow of your operations, so that you can identify specific ways to improve your business. It’s easier and more cost-effective – with near instant results.
We design and implement Process Mining Solutions that are focussed on identifying areas for improvement and drive continuous improvement.
The benefits of a ValueMetrics Process Mining Solution are:
- See your company’s performance in real time
- Identify the root causes of process inefficiencies
- Quickly locate and fix bottlenecks
- Decrease resource needs and free up working capital
- Track KPIs and their changes over time
- Drive near-term financial and/or performance improvement
- Address specific high-impact process issues for improved cost, quality, and customer responsiveness
- Enable sustainable continuous improvement for longer-term results
- Enhance business enablement through IT systems investments, including improved adoption and adherence
- Prioritize and focus improvement initiatives and investments (increased ROI)
- Improve agility to respond to business or market changes