By Sonika Aggarwal, Business Development lead at Skan.ai.
Process mining is an analytical method that involves the analysis of real business processes by discovering trends, patterns, and details in the event logs data of the information systems. Process mining enables companies to improve their business processes through better insights.
Process mining software collects the data by auditing and analyzing the hundreds and thousands of business processes in large organizations. It literally ‘mines’ the processes and lets the businesses analyze each human-machine interaction to find hidden nuances and bottlenecks. The insights gained through the event logs can help the business in improving their efficacy and efficiency. The insights provided by process mining help businesses in getting answers to queries related to both compliance and performance.
Process mining makes use of specialized algorithms to fully understand the working of business processes. Process analytics helps a business in improving its processes by creating key performance indicators for different processes. These indicators enable a business to direct its efforts on the priority steps. If something is slowing down a business process, then process mining algorithms can easily identify the root cause of the observed variation. This helps the business to resolve that specific cause, thereby optimizing the process.
For enterprises and large scale companies that are looking to streamline, optimize, or re-engineer their processes, here are the process mining software companies that they can consult.
ABBYY offers digital IQ solutions that empower the modern workforce with transformational digital skills to remove process friction and access more value from business content. ABBYY Timeline, previously known as TimelinePI, is a process intelligence platform that allows businesses to use the information contained within their systems to create a visual model of their processes, analyze them in real-time to identify bottlenecks, and predict future outcomes to facilitate decision-making of technology investments.
ABBYY Timeline combines deep-rooted analysis, predictive classification and search capabilities with granular monitoring and alerting. For businesses, that means gaining full transparency of their processes, answering deeper questions about them, and having the data to support technology investments for process improvement.
Celonis offers process mining solutions that help companies around the world save valuable time and money through improved process transparency and efficiency. Its Intelligent Business Cloud makes use of powerful process mining technology that lets businesses visualize their processes like never before.
Intelligent Business Cloud comes in different editions – Snap (free edition), Enterprise, Academic and Celonis for Consulting. Intelligent Business Cloud offers the following capabilities – event collection, user interaction data collection, process mining AI, process discovery, process analytics, machine learning, action engine, process automation, and transformation center.
Fluxicon is a process mining company offering a process mining software known as Disco. Disco can quickly generate a visual and actionable insight about a business process from raw data. The process mining technology in Disco helps a business to easily optimize performance, control deviations, or explore variations.
Disco contains fast process mining algorithms along with efficient log management and filtering framework. On top of that, it provides a streamlined user experience, allowing its user to move fast. Disco offers the following features – automated process discovery, process map animation, detailed statistics, case view, log filters, import and export data, and project management.
FortressIQ is a San Francisco-based company focused on techniques that allow deep neural networks to scalably acquire training data. FortressIQ’s Virtual Process Analyst discovers and documents processes in weeks. No log, database, or API access is necessary, thus delivering a zero-integration experience. Integrations with legacy systems are one of the largest areas of friction in enterprise projects. Virtual Process Analyst uses only computer vision for data acquisition, negating the need for costly, complex, and expensive data integration and mapping.
Virtual Process Analyst also offers universal compatibility, whether thick-client, thin-client, web-based, green screen, or proprietary. Virtual Process Analyst helps in reducing the effort to produce level 5 process documentation by up to 90%.
Kofax’s intelligent automation software platform helps organizations transform information-intensive business processes, reduce manual work and errors, minimize costs, and improve customer engagement. It empowers businesses with analytics and process intelligence.Businesses can gain deep, end-to-end visibility into all of their business process steps, operational performance, and risk of non-compliance with analytics.
Kofax Process Intelligence empowers businesses to achieve operational excellence by leveraging pre-built, best-practice solutions that enable them to quickly create customer dashboards for any application. Kofax Process Intelligence includes full-featured Kofax Insight, as well as pre-built solutions for Kofax Capture, Kofax Total Agility, Kofax Mark View, Kofax mobile solutions and Kofax RPA – all in a single, customizable and expandable offering.
Lana Labs is a specialist for AI-supported analysis of business and production processes and aims to make companies smarter, more efficient and faster through automated process analysis. Lana Labs offers process mining software named LANA. With LANA, businesses can have full control over their digitization strategies. LANA enables businesses to sustainably advance digital business development and successfully master the challenges of digital transformation.
By using LANA process mining software, the efficiency of business gets increased. LANA brings complete transparency into complex processes in a simple and intuitive way. LANA uses machine learning to help minimize downtime and capital commitment, and make variant diversity easier to manage. LANA provides the following features – process visualization, conformance check, root cause analysis, and KPI monitoring.
Live Objects provides business process optimization platform that accelerates customers’ digital transformation journey. Live Objects delivers AI-driven optimizations for business processes. It optimizes specific business outcomes such as customer satisfaction, pricing efficiency, orders, revenue, earnings, cost, risk control, etc. across business applications.
Live Objects eliminates ad-hoc activities, process exceptions and sub-optimal RPA automation impacting business processes. It provides AI-augmented process implementations and cloud migrations that enable continuously adapting business processes.
Solutions provided by Live Objects include a quote to cash process optimization, procure to pay process optimization, financial process optimization and rules discovery, RPA optimization, and intelligent cross-functional application migration to the cloud across data management, rules and application workflow layers.
myInvenio offers operational intelligence and digital transformation solutions that provide full management of business process improvement and transformation by automatically reading process data and providing highly detailed, in-depth process analysis.
With myInvenio’s solutions, organizations can constantly monitor processes, performance, and compliance; identify bottlenecks, critical activities, and resources; and visualize and recognize suggestions for areas of improvement. myInvenio enables companies to reduce the time to market, achieve fast performance improvements and gain a competitive advantage. Ingenio offers the following range of products – process analyst, process insight, and process store.
Minit focuses on enabling individuals, teams and entire organizations to do what they are best at by enhancing their day-to-day work with deep process insights and functional technology. Minit offers product mining solution that helps enterprises unveil the true picture of their operations, enabling them to make data-driven decisions that cut costs and increase revenues.
Minit’s process mining software offers the following features – results-focused, intuitive UI, scalable, easy to deploy, affordable and strong performance. Minit offers process mining suite for the entire organization, which caters to every level of data analysis skills, from novice to expert, and makes it easy for everyone to make better data-backed decisions.
Process Analytics Factory (PAF) is a process mining solution provider that ensures that work in data-intensive areas becomes simpler, more humane, more efficient and up-to-date. With its process mining solution, PAFnow, businesses gain full transparency about digital processes. Not only can they analyze data, they also gain valuable insights and can start with optimization measures directly.
Every Office 365 user can use PAFnow and tear down the barriers to process mining due to the integration of PAFnow with Microsoft Power BI. Businesses can analyze their processes with one click and one view with the PAFnow process mining software. PAFnow is available in three different versions – Pro, Premium and Enterprise.
Skan is a cognitive technology company that is redefining business process discovery. Skan’s process mining solution helps businesses in optimizing their processes. Skan’s unique approach leverages computer vision, deep learning, and machine intelligence to observe, learn, assemble, and optimize business processes without intrusion or integration. Skan helps companies in getting the business processes right, automating the right processes, and transforming in the right way.
Skan CPX is an AI-powered platform for uncovering, untangling, and unleashing enterprise business processes. It delivers immediate and enduring results for enterprises with complex processes and expansive business and IT landscapes. The features offered by Skan CPX include unobtrusive process capture, insightful analysis, intelligent process discovery, synchronized human-bot teams, expansive digital footprint, and multi-dimensional process governance.
By choosing the process mining software that best suits them, companies can gain deep insight into their business processes and take steps to improve them, thus increasing the overall business productivity.
Bio: Sonika Aggarwal leads the Business Development team at Skan.ai, a process mining software company. She has a knack for the emerging techs like Artificial Intelligence, Deep Learning, Machine Intelligence, and likes to stay updated with the latest trends in these fields. Her write-ups are a mirror to the insights that she collects through her readings and research.