Corporate Insight

As a business owner, you will certainly like to see your productivity and profit margins going up and costs coming down. Various IT-based solutions can be resorted to achieve the desired results. An innovative and intelligent combination of robotics process automation and process mining can give your enterprise great benefits enhancing productivity and efficiency and reducing cost.

Robotic Process Automation and Process Mining

Robotic process automation (RPA) is used with the objective of creating operational excellence that is qualitative and cost-effective. It is one of the most effective methods for handling the tasks that were performed manually by using the software. The results derived are more accurate and time-saving also. Process mining is the method using which the analysts detect the weaker areas in the business processes in use and formulate more effective processes for the enterprise.

How the Combination Works

An innovative and intelligent combination of robotic process automation and process mining can have several benefits. By using the RPA you will be able to automate all the processes. The advantage is that the machines are not prone to make errors like their human counterparts. They can also operate 24/7 without needing a break. RPA can be used without altering the existing IT infrastructure and manpower and is, therefore; a low-risk and cost-economic proposition.

How Amalgamation of Process Mining Helps

Many experts in the field of business process analysis adopt the clustering approach. Such an approach can make the task accomplishment faster as well as easier. Important works like the conformance analysis can also be carried out using the cluster approach.

Process Cluster Analysis

The clustering approach refers to taking similar objects in a group. The following steps are involved in the case of the process cluster analysis.

• The analyst partitions the data set into different groups;

• All the similar data are put in a single group and labeled appropriately; and

• The process analysis is performed for each group.                                                              

Why use Process Cluster Analysis?

The cluster approach works very well when you want to identify discrete groups of clients. It is also an effective process mining tool for the determination of similar behaviors of clients in sale transactions. Process cluster analysis is used by insurance companies to detect any improper and fraudulent claims. Banks and financial institutions use it for the credit score determination of the customers.

Process Cluster Analysis Features

The cluster analysis approach takes into account the data matrices where there has been no partition of variables earlier. The aim is to identify groups of subjects that are similar in nature. Thus; the cluster approach is based on the classification of subjects in the business process. The method is also extensively used to carry out tasks like the conformance analysis. This type of business process analysis is dedicated to checking the level of conformance of various elements in the business process and detecting non-conforming subjects.

To conduct the predictive analysis of any business process, you will have to depend on the key performance indicators. It is possible to identify the process KPIs using process mining techniques. The primary focus is on the business process and carrying out strategic process measurements.

Process Prediction Analysis

Identified key process indicators are often used to carry out process prediction analysis. The features of business process predictions are as follows.

·        Prediction of target variable of interests;

·        It is based on the process log data of the enterprise concerned; and

·        Determination of discrete target values

Prediction of Process Effectiveness

Process effectiveness can be predicted by comparing the results of using the actual process with the expected results that are targeted. The process effectiveness is determined using three key indicators. These are the time, cost, and quality of the business process. All these can be checked using the process mining technique. The results derived using process mining are compared with expected results to know the process's effectiveness.

Process Efficiency Determination

Key indicators for determining the efficiency of any business process are the number of resources used and the output results. The process prediction analysis is made by dividing the value-added time by the total lead time. Value-added time indicates the time used to create the product. Total lead time is the time used from the beginning till the end of the entire process.

Assessment of Non-Conforming Products

Identification of the products not conforming to the business process is vital as these are the elements that block the way to the success of the enterprise. The process KPIs in these cases are the internal as       well as the external process compliances.

The ability to establish an uninterrupted supply chain can be very useful for smooth and successfully running a business. You may be wondering why you are not able to set up such a supply chain despite all of your efforts. This indicates that there are flaws in the existing process in your enterprise. The best way to learn about the same is using supply chain process mining.

When to Use Supply Chain Process Mining

Current practice in the industry is resorting to process mining to learn about the issues that are slowing down the progress of an enterprise. Supply chain process mining is used for the same purpose. Companies are spending millions of dollars for maintenance of the supply chain because it is essential for performance optimization in business.

How the Supply Chain Process Mining Works

Process mining for the supply chain works in the following manner.

• It is used as a tool by the supply chain managers to find out the effectiveness of the existing process.

• Using the process mining the gaps are identified and the scope of human errors is minimized.

• It helps the growth of the enterprise by setting up the most efficient supply chain system.

Relation with Other Process Mining Systems

Sometimes other process mining systems are integrated with the one used in respect of supply chain management. An example is the results derived using the purchase-to-pay process mining that can have an impact on supply chain management. An important task accomplished by the use of process mining is that it introduces transparency in the determination of the status of the supply chain management process presently used in the enterprise that contributes to performance optimization.

Consequent to the rapid progress made by information technology in recent times the scenario in the commercial zone has changed significantly. Most of the tasks relating to business are now accomplished with the use of the software. One of the areas where IT tools have registered their mark is business process management. The use of efficient process management software has become a common practice in the industry

Evolution of IT-Based Process Mapping Tool

In the past; and especially before the domination of the market by different types of software; all business activities were performed manually. These processes were time-consuming and very often did not generate accurate results.  Today; due to the advent of a host of process mapping tools, the tasks are automated and the results derived are far more accurate.  These tools have the capability of checking, analyzing, as well as suggesting steps to make your business more successful in target achievement.

What the Process Management Software Offers

It is natural that you will like to learn what the process management software has in store for you. Every enterprise operates on a certain business process to function. Very often, the weaknesses in the process make an adverse impact on the business.  In such cases; the professional experts use the process mining technique to check the shortcomings of the existing business process resulting in failure. Identification of the root causes helps them to recommend the appropriate remedial measures to address the issues. 

Find a Reliable Provider of Process Mapping Tools

While there are many common issues leading to the failure of any commercial entity there will also be some unique reasons specific to your organization that need to be identified and addressed. Quality process mapping tools can be used for this purpose. Your task; therefore, will be to find an experienced and trusted provider of such tools.

When you decide to modify the business process presently used for better results; you need to check the process conformance. It will be the right move to use a quality analyzer for the purpose so that you can compare the target process with the existing one to decide in which way the target process could work better.  

Checking the Process Conformance

Before migrating to a new business process it is essential to check in what way it is better than the existing business process. Process conformance checking is the most extensively used technique for such a purpose. The technique is used to make a cost-benefit analysis of the existing and the target process.

Conformance Analysis of Processes

Conformance analysis is one of the most critical parts of any process mining. It is used to-

·        Find out whether the steps in the target process conform to the requirements of the actual process;

·        Highlight the process variations to be introduced;

·        Identify the main reasons for deviations in the business process; and

·        Determine; how well the new process matches the specified standards.

Effective Process Analyzer for Conformance Checking

Most businessmen look forward to using simple and easy-to-handle business processes to run their business. It is, however; easier said than done. Deviations occur making the processes complex and difficult to follow. The only way out is conducting conformance analysis to pinpoint the requirements. Therefore; the need is to use an effective process analyzer to get accurate findings. The analyzer checks the event logs and assists you in finding cases that do not conform and the causes leading to them.

There are many companies that do not perform in the desired way. It is necessary to optimize the efficiency and performance of such enterprising increasing productivity and revenue generation. The first step in the right direction is using process mining to assess how the current business process is working. To make an accurate assessment you should use the most effective process mining software.

Use of Process Mining Software

With the rapid growth of information technology, most analysis is done using the software. Using good process mining software you can derive the following benefits.

·        You can identify the weaker areas of the process that is running your business currently;

·        With such information you can formulate strategies for introducing positive changes in the business process; and

·        You can bring back your business on the path to success.

Process Mining Tools for Analysis

The objective of performance optimization can only be achieved when you will be able to find out the reasons for your failure to make the enterprise profitable. A common reason is deficiencies in the business process in your enterprise so that you can take remedial measures to eradicate them. It will be the time to use the best process mining tools.

Where to Get the Best Process Mining Software

The question is where to find such software and tools. The answer is that you can consider approaching a trusted provider like Corporate Insight where you will find the best software for process mining. Accordingly; you have to find out the best provider of process mining tools where you will get your desired software at affordable prices.

Entrepreneurs and executives looking for guidance to bring back order in their establishments usually engage suitable business consultants. Top professionals extend balanced scorecard consultancy for their clients. Such consultancy can generate positive results for any organization irrespective of its type and size. Providers of such consultancy services also work on process mining to get the results.

Result-Oriented Balanced Scorecard Consultancy

One of the advantages of using the services of an experienced and efficient balanced scorecard consultancy is that it can be used for any type of organization.  When all the important sectors of a business house are balanced, the productivity goes up. This results in higher revenue generation with   increased profit margins. You will need the best consultancy services like the Corporate Insight organization.

Working with the Ideal Consultancy Service

Entrepreneurs and executives resorting to consultancy services should select an agency that will help them to make organizational excellence a part of their daily routine. For such selection, you can conduct a little research before finally accepting one. The main contribution of such an agency will be introducing a strategic business management system in your enterprise. Also; a consulting agency will try advanced and most effective systems like the Oracle process mining software to check the status and design remedial measures to get rid of any deficiency in the enterprise.

Balanced Scorecard Consultancy can Make the Business Fly

A qualitative provider of consultancy for creating a balanced scorecard can make your business fly. When you engage an agency like Corporate Insight for the purpose; more than half of the battle for supremacy is already won. Experts deployed will design for you winning strategies for performance management.