By JOLT Experts on Mar 13, 2020 8:16:00 PM
When we talk about Robotic Process Automation (RPA), we need to talk about Process Mining because organizations are taking the next steps towards hyperautomation by complementing RPA with Process Mining, Advanced Analytics and Artificial Intelligence (AI) solutions such as ingestion engines (OCR, Computer Vision, etc), and Machine Learning (ML) to create a comprehensive approach to amplify the efficiency and effectiveness of work automation.
With process automation driving the need for enterprises to review and optimize business processes and gain insights before identifying the best fit for automation; we've seen a quick rise in demand for technologies such as process mining.
What is Process Mining?
We can define process mining as solutions that leverage event logs that are generated by enterprise systems such as ERP, CRM, HCM, and SCM to rebuild a virtual view of the business process.
Robust process mining tools can blend data mining with AI/ML to generate data based analytics, and help organizations discover the as-is state of business processes as well as identify new opportunities for optimization and automation.
Process Mining is part of the multiples stages of the RPA lifecycle, early on to identify processes that are candidates for automation, analyze the extent to which RPA can be implemented in legacy processes and systems. And later on, it provides monitoring and analysis on RPA performance for continuous improvement.
Process Mining and RPA
Thanks to process mining, RPA projects have a higher success rate because of its applications on the multiple stages of the RPA implementation.
By applying process mining, organizations can identify opportunities for business process automation and then prioritize those that have the most significant ROI potential. With this technology, enterprises can apply RPA solutions to tech-driven and human-driven business processes.
Process mining solutions can help enterprises achieve cost-savings and operational efficiency by optimizing processes, and it can also enhance employee experience through better resource allocation.
While process mining technologies are new to many potential buyers, these technologies are evolving quickly with growing functionalities to cater to organizations with scaling automation footprints.
How Does Process Mining Tie in With Hyperautomation?
Hyperautomation brings together multiple components of process automation by integrating tools and technologies that amplify the ability to automate work; you can learn more about hyperautomation and its key elements here.
Here is where Process Mining plays a key role, while hyperautomation starts with RPA at its core, the expansion of the automation capability will happen only by pairing it with complementary solutions like process mining, AI, analytics, and other advanced tools.
When enterprises can automate more and generate knowledge that enables them to engage everyone in the organization to be part of the digital transformation, that is when we start seeing a hyper-automated organization.
An organization's hyperautomation is leveraged by process mining technology and solutions.
Navigating The Process Mining Technologies Market
With process mining tools playing a key role in the age of hyperautomation, the process mining market is rapidly evolving with new offerings and capabilities brought by acquisitions and consolidations as well as the entry of new players. This makes it a crowded field to navigate for those business and IT leaders looking to find the best solution for their organization's needs.
The Everest Group recently released their PEAK Matrix for Process Mining Products 2020 report, measuring the impact of aspirants, contenders and leaders in this market by analyzing their portfolio mix, the value it delivers and the adoption scale.
Source: Everest Group Process Mining Products PEAK Matrix Assessment 2020
With this report, Everest Group reinforces what other industry experts have concluded, key vendors like Celonis, Software AG, UiPath (ProcessGold), and ABBYY (Timeline) are leading the charge for process mining innovation.
These vendor solutions have unique processes that can create a digital visualization of their operations, show where deviations and bottlenecks exist and why they occur. They also have cloud and on-premise availability, with a capacity to handle more than 100 million events as well as ready-to-use process analysis templates and custom interface options.
You can read the full Everest Group PEAK Matrix for process mining technology vendors 2020 with focus on UiPath here.
JOLT is a specialized RPA services provider, we have helped enterprises drive organizational adoption, develop automation pipelines, avoid potential missteps, maximize RPA use cases, and stay ahead of their competitors on their hyperautomation journey. If you'd like help with finding the right process mining solution for your needs, book a free consultation with our experts today.
- "Maximizing the Value of RPA with Process Mining and Optimization"
- "Process Mining: Design Your Robots with Scientific Precision so They Are Right the First Time"
- "Streamline RPA with Process Discovery and Optimization for Automation"