Are you looking to discover excellent ways to increase revenue, improve customer/employee satisfaction, or boost work performance and efficiency? If yes, then your step should be to find a treasure map.
In this case, a process mining tool will give you a roadmap with insights acting as a compass to improve the process flow. Once you determine your destination, the same tool will sail you there faster by automating business tasks.
Understanding Process Mining
Process mining is one of the most important techniques, and mining algorithms extract helpful knowledge from information systems’ event logs. It enables business organizations to analyze processes, improve performance, and identify potential bottlenecks/inefficiencies.
Benefits
Process mining helps zero in on what’s holding us back and provides a map to overcome challenges. It also plays an important role in BPM (Business Process Management) by providing several benefits, including the following:
- Improve User Satisfaction and Customer Experience
Applying the tool to customer journey processes will have a positive and far-reaching effect on our businesses. When customer processes get optimized, we generate more sales, enjoy great benefits, and experience less churn. And when we automate manual and repetitive tasks, our employees will have more time to spend on meaningful work.
- Process Visualization
This tool’s road map provides a visual representation of business processes. This, in turn, helps business organizations understand how the process works better and identify key areas requiring improvement.
- Reduce Throughput Time
Process mining helps to minimize throughput time in two ways. First, it helps to identify challenges in business processes. Challenges often happen when process steps have limited resources or capacity, causing inefficiencies and delays in the process flow. By identifying those challenges, businesses will make more targeted changes to all their procedures and prioritize improvement efforts.
Second, it helps to streamline processes, which involve reallocating resources, automating different manual tasks, and eliminating unnecessary steps. The tool also provides us with the insights and data required to make an informed decision on how to streamline business processes, leading to the following:
- Improved efficiency
- Minimized waiting times
- Faster execution
- Minimize Costs
Process mining helps uncover any hidden inefficiencies while bringing the potential for automation to minimize process costs. For instance, let’s say your company wants to minimize customer interactions resulting in service tickets from 4% to 3%. If the cost to resolve certain ticket categories is $6, but the cost to refund a client is $5, then your company will not find it necessary to service that same category, thus saving money.
- Manage Performance
Employee performance is another way that the tool benefits our businesses. When you lack the necessary data, your assessment of employee performance will become subjective. However, the tool will eliminate this problem and use event logs to determine who completes which tasks and at what level.
In addition, the tool will help you determine all the problem areas within your workforce. This will improve your training and motivate your workers to reach the company’s goal.
The bottom line is that process mining helps businesses visualize processes, minimize costs, manage performance, boost customer satisfaction, and reduce throughput time. In order to reap more benefits from the tool, businesses must carry out the process mining steps with the right knowledge and tools.
