It should go without saying that the processes that underpin the way a business operates play a key role in its success or failure. Yet a surprising number of organizations do not currently have an enterprise process management system.
Not having a process management system is a huge missed opportunity. If a business isn't monitoring its backend operations, it's almost certain that problems will slip through the cracks and the organization will not be reaching its full potential.
Process mining offers a way for businesses to fix this oversight. Process mining technologies allow companies to access real-time data of their organization's backend and internal processes. This means that any system issues can be spotted almost immediately, giving teams time to adapt before minor bottlenecks turn into much bigger problems.
Process mining can be beneficial for any organization, but it holds special significance for enterprise legacy companies. As business priorities shift and the complexity of operations change, process mining provides a path forward for these companies.
Most legacy systems lack the ability to generate process information, which means that behaviors can only be analyzed using existing logs. In order to channel the competitive advantage that modern business process management methods provide, enterprise legacy companies will have to modernize their internal operations through digital transformation. In other words, process mining actively pushes legacy companies into the future, making them more competitive, agile, and efficient.
3 Ways the Future of Business Impacts Process Mining
As business complexities continue, process mining will change along with it. Here are three major ways process mining will evolve in response to changing business priorities and how these transformations will impact businesses for the better.
Automation will play an increasingly bigger role in company operations — specifically when it comes to repetitive tasks that don't need a person at the helm. The adoption of robotic process automation (RPA) will cut costs, free employees to work on higher-level tasks, and increase accuracy rates across an organization.
Automation will also be helpful in process mining itself. Process mining automation will make enterprise process management more accurate and efficient. Process mining will also be able to offer insight into which processes can take advantage of RPA and which still require a helping human hand.
2. Low-code/No-code (LCNC) development
LCNC platforms allow businesses to create applications with little-to-no coding knowledge required. With the help of drag-and-drop and other intuitive interfaces, employees can easily develop custom-made applications to help them do their job better.
Process mining vendors are only beginning to tap into the possibilities of LCNC, with many still figuring out the best way to incorporate it. One thing is certain, however: LCNC has serious potential when it comes to helping businesses make the most out of mining data. Process mining technologies created with LCNC can be developed by the businesses themselves, specifically tailoring them to their own unique needs.
3. Business Process Management (BPM) platforms
The benefits of business process management software are hard to ignore. According to Market Research Future, the business process management market is predicted to grow at an annual rate of 12.4% and reach $28.3 billion by 2030. As more companies implement BPM platforms into their organizations, process mining can be a major asset.
BPM platforms make it possible for businesses to look at the bigger picture of their organization. Process mining technologies make it possible to extract an even fuller picture and identify where the risks are within this bird's eye view.
Process mining presents the perfect opportunity for legacy systems to undergo the digital transformation they need to compete. It's a technology ready to adapt to new complexities and help any business keep up with the changing times. If you haven't already, now is the time to integrate process mining into your systems so you can better prepare for what comes next.
Interested in learning more about how Mavim uses process mining to help you visualize risk and your processes? Contact us today to learn more.