19 May Top 10 Benefits of Process Mining with Use Cases
Effectively, process mining is about business transformation. Business enterprises are starting to realize this fact and are going beyond applying process mining to RPA and process optimization. Process mining is the quickest way to identifying, improving, and executing business operations in a digital world.
Despite its immense potential, business leaders are not fully grasping the capabilities of process mining and how it can transform their business processes. What is process mining? Let’s answer this question along with its business benefits and use cases.
What is Process Mining?
Essentially, process mining is the technique used to track and analyze business processes – and extract relevant insights from their data. For instance, processing mining can involve mining from data logs of ERP and CRM applications to deliver an accurate representation of the business process. As compared to “traditional” methods, process mining works with existing business data from enterprise systems.
Next, let us look at some process mining benefits for business enterprises.
Benefits of Process Mining
Here are the top 10 benefits or advantages of process mining for any process-oriented enterprise:
1. Enables data-driven decision making
Process mining can efficiently provide data insights, which can improve business decision-making. For instance, a process mining tool with data visualization features enables business leaders to easily visualize and analyze the presented data, thus improving their decision-making skills.
2. Standardizes business processes
Through the detection of non-standard business procedures and deviations, process mining can help in standardizing business processes across the organization. For example, collected system logs can depict the difference between the conceptualized and actual processes.
3. Improves employee performance
Process mining can automate data collection from business processes, thus helping in monitoring employee performance. Further, continuous monitoring of employee KPIs like time to resolution and SLA can lead to enhancing employee performance.
4. Enables process automation
Process mining can define the automation of human-centric (or manual) processes. For instance, chatbots can help in automating customer service and marketing.
5. Eliminating unnecessary practices
Process mining can identify redundant or unnecessary steps (or practices) in business processes, which can cause delays and inefficiencies. This can also save the company unnecessary costs of executing these steps.
6. Identifying process bottlenecks
Process mining can effectively detect any bottlenecks that are slowing down the business process. After a complete analysis, these bottlenecks can be eliminated by assigning more resources or by automating the process step.
7. Enabling faster responses
With constant process monitoring, process mining can help in responding faster to any business-related problem. For instance, companies can identify the cause of any customer issue and move to resolve the issue faster.
8. Optimizing business processes
Process mining tools can help companies optimize their various processes for improved efficiency and productivity. For example, companies can improve customer experience by reducing the lead time in customer-facing functions.
9. Reducing costs
By eliminating bottlenecks and process-related inefficiencies, process mining can reduce operational costs through automation. For instance, the use of automated bots can improve the quality of customer interactions by reducing the average time taken for solving their problems.
10. Increasing transparency
Process mining can provide complete visibility over business operations and processes, thus increasing transparency. For example, customer support can be improved with full transparency over the service desk function.
Now that we understand the benefits of process mining, let’s look at a few use cases where business process mining can be utilized.
Read, Also –What is Robotic Process Automation – And How Does It Work?
Process Mining – Use Cases
Process mining can be useful in many use cases across organizations and industries. Here are a few of them:
- Sales and marketing
For most companies, sales processes that encompass generating leads right up to customer order fulfillment can be a long and costly affair. Process mining can identify any sales-related bottlenecks and provide insights to reduce the overall sales cycle time. Besides that, process mining provides valuable insights into which marketing strategies are generating conversions (or not).
- Enterprise resource planning (ERP)
When integrated into ERP solutions, process mining can improve operational visibility into ERP processes and manufacturing operations. Effectively, process mining is useful for pinpointing gaps or inefficiencies in ERP systems. Further, companies can delve into process delays in resolving customer tickets. Besides, process mining can highlight ERP areas that are ripe for automation.
- Financial Operations
Finance-related operations like procurement, vendor payments, and accounts management are filled with manual or repetitive processes. Process mining can be effectively used to automate financial processes, thus eliminating “human” errors and reducing costs. For accounts receivables and payables, process mining can help companies find the root cause of delayed customer payments – or bottlenecks in the invoicing process. Further, process mining is effective for comparing any auditing-related process changes and improving response time.
- Manufacturing and industrial production
With growing challenges and competition, manufacturing companies are constantly looking to reduce warehousing costs and improve production efficiency. On its part, process mining can detect inefficiencies in warehouse management and production processes. Further, process mining can be used to identify logistical delays and optimize the geographical location of warehouses.
Process Mining – Our perspective
At NuMantra Technologies, we enable process-oriented companies to leverage the capabilities of AI, machine learning, and RPA by using process mining tools. With our process mining expertise, modern businesses can maximize the value of their untapped process-related data and identify areas for process improvement.
By partnering with NuMantra, companies can utilize process mining tools to:
- Unlock the power of hyperautomation and improve response times.
- React faster to social media events and analyze popular sentiments about their brand.
- Improve overall process performance and reduce costs.
- Optimize their existing resources for AI and machine learning models.
- Analyze system logs to improve process insights.
The NuMantra process mining application identifies business trends and data patterns using pre-built algorithms. Our cloud-based hyperautomation platform offers a cost-effective solution that is suited for any business need. Using process mining and intelligence, NuMantra offers a complete one-stop solution with its low-code development tools.
Are you looking to maximize the benefits of process mining for your business processes? Request a product demo.
Read, Also – What Is Process Intelligence – And Why Is It Important?
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