What Is Process Mining and Why Does It Matter To Your Organization?

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With rapid changes in our current business landscape, modern businesses are constantly looking for new ways to optimize and improve various business processes. One of the most effective and efficient ways to improve existing business processes is through process mining.

Process mining refers to a subsect of business process management that involves capturing, analyzing and leveraging data from day-to-day business activities to develop detailed event logs. These event logs are then further analyzed to obtain valuable insights into the current performance of various business processes. Process mining can help businesses identify inefficiencies in day-to-day business processes and develop comprehensive and holistic strategies to address them.

A recent study conducted by IBM has found that process mining can increase process automation rates by 75% and process conformance rates by 67%. Therefore, your business must understand what process mining is and how it can transform your current business process management strategies.

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What Do You Need For Successful Process Mining

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Process Mining is defined as a process analysis method that aims to identify, observe and modify day-to-day operations by extracting knowledge from available event logs in the data and information systems of an organization. According to a recent study conducted by Gartner, the process mining market will cross the $1 billion mark, growing by approximately 40 to 50% by the end of 2022.

Process Mining is quickly crossing the bridge to the business sector and is currently being employed in a much more functional and consistent fashion than ever before, thus making it almost effortless for business owners to constantly monitor and optimize their daily business processes. Being an advanced and innovative technology, process mining can substantially enhance efficiency, improve productivity levels, increase customer satisfaction levels and ultimately lead to significant savings in the long run by steadily redesigning business processes.

Therefore, enterprises will be able to cut costs, increase customer satisfaction levels, improve employee engagement levels and run the organization much more efficiently every day. Moreover, process mining can help ensure that your organization’s business processes are fast, accurate, data-driven and complete by utilizing intelligent data transformation and powerful algorithms. Process mining can act as an advanced X-ray in finding discrepancies in daily procedures and scaling up efficiency, learning and adaptability across the organization.

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How To Use Low-Code BPM To Overcome Complex Business Challenges

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Business process management (BPM) is an organizational discipline in which a company takes a step back and examines all of its business processes individually, collectively and holistically. It examines the current situation and identifies potential areas for improvement to create a more efficient and effective organization. It is the process by which a company creates, edits and analyzes the predictable processes that form the foundation of its business operations.

BPM software enables organizations to align various business functions with customer needs and assists organizational executives in determining how to deploy, monitor and measure company resources. When properly implemented and executed, BPM has the potential to significantly increase efficiency and productivity, lower overall costs and reduce the risk of human errors, thereby substantially optimizing results.

In recent years, building enterprise applications has become much more accessible due to low-code application development. Low-code application development platforms can enable businesses and citizen developers to create powerful BPM software without extensive coding knowledge or the interference of a skilled software developer. According to a recent study, 84% of enterprises have turned to low-code technology to reduce strain on IT resources, increase speed-to-market and involve the business in overall digital asset development.

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Low-Code Automation vs. iBPM: Which Should You Use For Your Business?

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Business process management is defined as a set of organizational activities and processes which are undergone with the ultimate goal of tracking, analyzing, optimizing, automating and improving the overall functioning of various day-to-day business processes.

Business process management can be an extremely tedious, time-consuming and impractical process if not monitored by a digital solution. However, as the number of digital platforms and mobile solutions available to businesses increases exponentially, many businesses are unsure about what type of solution they should use to optimize their business processes: low-code automation and development platforms or iBPM playtforms.

Low-code automation solutions allow users to automate various business processes using a drag-and-drop app builder, a visual workflow builder and a scripting engine. This allows citizen developers and business technologists with little to no traditional coding knowledge to effectively and efficiently automate complex business processes. At the same time, it allows developers with coding experience to create process workflows and build apps in a fraction of the time it would take with traditional coding.

Intelligent Business Process Management (iBPM), on the other hand, involves the integration of artificial intelligence, machine learning and robotic process automation to automate various business processes using data analysis. iBPM solutions usually incorporate visual interfaces and a responsive software design.

But first, what are the benefits of automating your business processes?

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How To Set Up Strong Business Processes

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A business process is the basic building block of a business function. It is a set of tasks that a group of individual stakeholders must perform to reach a specific goal. The main advantage of having business processes is the optimization of resources.

A business process gives direction to simple tasks and helps individuals streamline their activities. It ensures that the tasks are being performed in the most efficient way possible.

Business processes help stakeholders focus on long-term business goals along with short-term business goals. Business processes also improve communication between departments and help establish clarity regarding the objective of the tasks.

Business process management is hence an integral part of modern businesses. It focuses on the overall improvement of all end-to-end business processes in an organization.

Setting up strong business processes is essential. A strong business process framework ensures that all the resources in the organization are used to their full potential and in the best way possible. It also helps in unifying teams and increasing the efficiency of cross-functional teams.

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How Standardization And Automation Can Drive Your Company’s Success?

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As digital technology and modern organizational structures continue to evolve and progress at an exponential rate, many businesses must begin to look towards standardization and business process automation to facilitate and foster company success.

Business Process Automation is defined as the utilization of technology to automate various time-consuming and complex business processes. Studies have shown that 97% of IT decision-makers believe that business process automation is crucial for digital transformation.

Standardization involves developing and implementing standards for business processes as well as ensuring that all organizational functions are held to the same standards.

Therefore, your business must understand the various benefits of business process automation and standardization so that you can leverage them to drive organizational growth and long-term success.

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How To Use Low-Code To Automate Your Business Processes

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A business process is defined as a set of activities and procedures undertaken by an organization to achieve short-term and long-term goals and objectives. The structure and efficiency of your organization’s business process can significantly impact the productivity and profitability in the long run.

Well-managed business processes can help your business establish a benchmark for quality standards, reduce potential risk, avoid damaging human error, improve opportunities for cross-departmental collaboration and implement effective communication. Research has shown that effective business process management can improve customer satisfaction levels by up to 30%.

However, many business processes can be time-consuming, repetitive and tedious which can lead to employee dissatisfaction and disengagement. It may be difficult to effectively and accurately monitor and keep track of manual business processes. Therefore, many businesses are beginning to leverage the power of low-code solutions to automate various manual business processes.

Low-code automation is a visual approach to automating business processes that requires little to no coding and instead focuses on graphic on-screen guidance and drag-and-drop tools. Studies have shown that 49% of organizations that use low-code solutions have stated that they have the greatest ability to automate business processes.

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What is intelligent business process automation?

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With constant evolutions in automation and digital technology, many modern businesses are now concentrating on various strategies to facilitate digital transformation. These technological advancements include the implementation and integration of automation in the workplace. Studies have shown that over 80% of business leaders reported that they are currently speeding up work processes automation.

Automation has numerous benefits that organizations can take advantage of including significantly speeding up business processes and functions. With, increasing organizational scalability, reducing costs associated with performing certain tasks manually, empowering organizational employees to work on higher-level, more intellectually stimulating tasks, and much more.

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How to use intelligent automation to improve your business processes

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Automation today has seeped into almost all the relevant aspects of the business world. From robots to automated deliveries, every organization is trying to read the benefits of automation in some way. The number of automated jobs increases by 14% every year. A survey conducted in 2017 proved that 86% of the employees believed that automation services will help them do their jobs more efficiently.

Intelligent automation is the method of automating your key business processes to increase the overall efficiency of a workplace. It is also known as cognitive automation and combines three tools- robotic process automation (RPA), business processes management (BPM), and artificial intelligence (AI).

Intelligent automation is a much sought-after technology as it delivers concrete benefits to companies. It not only simplifies processes for the human component of the workforce but can also eliminate operational inefficiencies.

Intelligent process automation is extremely relevant to business as it has diverse applications. Intelligent automation can be used by financial institutions, government bodies, manufacturing units, hospitals, schools, universities, and the list goes on. It adds improved support for collaboration in analytics, decision-management, social media integration, etc.

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How to Use Low-code Development to Advance Business Process Management

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How low-code development platforms advance business process management and eliminate the costs associated with custom coding.

Adaptability and continuous improvement are two of the defining characteristics of any modern business. More than ever, success is determined by the ability to scale and adapt a business’s workflow potential in line with constantly changing demands. Business process management, or BPM, is a proven discipline intended to tackle these challenges.

BPM is the technical evolution of concepts that long predate it, such as task management, the division of labor, and production. Over the past decade, organizations have started using BPM to analyze processes, measure performance, and discover opportunities for improvement – all with the goal of improving efficiency.

Today, intelligence and automation are integral to BPM, hence the rise of the term intelligent business process management, or iBPM. Intelligence and automation come in various forms, such as the digitization of business rules and intelligent process mining. Repeatable tasks are automated, with little or no human intervention required.

The main value proposition of iBPM is the intelligent collaboration and orchestration of people, connected devices, and applications in pursuit of business goals. However, to make informed decisions and better serve customers, businesses need the right tools for accessing mission-critical information in the right context.

In many organizations, that information is scattered across a disparate array of off-the-shelf and custom-built applications. Applying iBPM to such a fragmented environment ranges from difficult to outright impossible. As a result, workers are less efficient, and customer experience suffers.

Low-code development platforms (LCDPs) offer a better solution by bridging the gap between the inherent limitations of off-the-shelf software and the high costs of developing custom apps from scratch. LCDPs enable the rapid delivery of custom business applications and empower those on the operations side to become citizen developers.

In this article, we will explore how low-code is a valuable asset to BPM.

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