Why process mining is seeing triple-digit growth

Why process mining is seeing triple-digit growth

A rise in technologies like AI and robotic process automation (RPA) has increased the demand for process mining tools. And more recently, an enterprise spurt in technology investment to respond to the pandemic has accelerated that demand.

Process mining enables companies to automate and streamline operations, by identifying best practices and then disseminating them across an organization. This reduces waste, allocates physical and human resources more efficiently, and enables faster responses to internal and environmental changes. Gartner estimated the market for dedicated process mining tools grew between from $110 million in 2018 to $320 million in 2019.

Many organizations know that the behavior of their staff and customers has changed, but how exactly? Process mining is about seeing the way the processes really work and interact with other processes. Many companies have an understanding of processes that don’t match reality, and most managers don’t really know how a process actually works in practice, said Gomez. They may have a definition, but in practice, businesses often have many gaps where the process is applied differently. “Because process mining uses real data, you find out what the real process is, not the imaginary process is in somebody’s head,” said Gomez.

Many enterprises are finding it difficult to scale beyond a few software robots or bots because they are automating a bad process that cannot scale. “Most businesses are automating processes through RPA and hyperautomation without first fully understanding their data and processes,” explained Gero Decker, CEO of Signavio, an SAP spinoff focused on business transformation.

With process mining, companies can see whether or not their current processes are standardized, so they know which problem they have to solve first: standardization, or automation. If the processes are standardized, process mining can clarify what those processes are, to enable automation with RPA. Process mining helps RPA projects discover and validate the processes that are actually being carried out in a company.

Task mining connects the dots

Task mining helps solve two of the key limitations with process mining, said Harel Tayeb, CEO of Kryon, an RPA tools provider. First, to extract knowledge from event logs, process mining technology requires integration with the underlying systems. Although the vendors have streamlined this process, it still requires some time and resources. Second, the level of insights generated with process mining is still at a process or transaction level, so it fails to capture low-level user behavior.

Task mining operates at the level of the user desktop, which ensures compatibility with any app with a graphical user interface. Many task mining tools can also capture the steps involved in a process across multiple users involved in a process. This aids in process discovery, making visible the invisible connections and patterns of individual actions in the real world.

Seeing the invisible

Process mining makes the invisible workflows between organizational nodes visible by analyzing application logs to automatically monitor ongoing processes and create process maps. It’s like seeing an invisible man by throwing a handful of sand on him.

Improvements in AI and the rise of integrated cloud services is now making it feasible to automate and scale process mining in a way that speeds the ability to internally sense what is going on within the enterprise. From an evolutionary perspective, process mining represents the development of a new sensory system for organizations and confers a huge advantage for survival in the ecology of enterprises. In the ecology of companies battling for market share, a company with even a primitive capability of seeing invisible workflows better than the competition has a huge advantage over companies that cannot see. As Erasmus stated in 1500 AD: “In the land of the blind, the one-eyed man is king.”

Improvements in AI and the rise of integrated cloud services is now making it feasible to automate and scale process mining in a way that speeds the ability to internally sense what is going on within the enterprise. From an evolutionary perspective, process mining represents the development of a new sensory system for organizations and confers a huge advantage for survival in the ecology of enterprises. In the ecology of companies battling for market share, a company with even a primitive capability of seeing invisible workflows better than the competition has a huge advantage over companies that cannot see. As Erasmus stated in 1500 AD: “In the land of the blind, the one-eyed man is king.”

The leading players

Both Software AG and the SAP spinoff Signavio have found some early success using process mining to help businesses respond to COVID-19.

Last week, enterprise software giant SAP announced it would acquire Signavio, to double down on processes organizations can automate. This brings one of the big software giants directly into this market, which has until now been filled with relatively small players. Celonis is one of the largest pure play process mining vendors, which raised $290 million in late 2019 at a $2.5 billion valuation. Other pure-play process mining vendors include:

  • Apromore
  • Cognitive Technology
  • Everflow
  • Fluxicon
  • FortressIQ
  • INTEGRIS
  • Lana Labs
  • Logpickr
  • Mehrwerk AG
  • Minit
  • Process Analytics Factory
  • Puzzle Data
  • QPR Software
  • StereoLOGIC

Major RPA vendors are starting to invest in building out their process mining capabilities. UIPath developed some of its own internal tools before buying Process Gold for its process mining capabilities in 2019. It also acquired StepShot for its task mining tools. Automation Anywhere has developed its own process mining and task mining capabilities internally. Meanwhile, Blue Prism has announced a technology alliance program with Celonis to improve integration of their offerings.

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