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What do you use for your process mining methods that will unlock your ideal ROI results? Some CIOs say that the ends justify the means sometimes. By the same token, the business process management methodsa CIO deploys to accomplish an objective can speak volumes about them and their business.

Between cost efficiency and productivity to customer satisfaction and avoiding mistakes or delays,process mining(i.e., using data and automation to analyze and optimize operations) is one particular approach that is layered with benefits for CIOs and their corporate allies.

THE KEY: Similar to process intelligence (aka business intelligence), process mining helps companies make more informed decisions using evidence and data plus, both strategies use KPIs and other data tools.

The difference between process intelligence vs. process mining resides in root-cause analysis.

While process intelligence is more about monitoring and reporting to tell you an activity went wrong, process mining tells you arguably the more important factor: the why.

And that understanding will help CIOs unlock their business processes true potential.

The fluidity of business operations is such that statuses can change on a dime. One of the biggest perks of process mining is the real-time data it provides, allowing CIOs and other C-suite members to adapt quicker.

For enterprise legacy companies, this means modernizing internally amid digital transformation. In fact, about 80% of CFOs in a Gartner studysaid industries such as finance must lean more on solutions like artificial intelligence and robotic process automation to effectively support businesses by 2025.

How does process mining work? By indicating when a process started, showing how it operates, and creating a log that can assess how successful the process is. Process mining applicationsdeliver30-50% gainsin productivity and can improve customer satisfaction by 30%.

Legacy companies trying to catch upand embrace these strategies sometimes struggle. For example, to see the risks or bottlenecks, you need to analyze logged data which legacy companies often dont have.

Plus, as CIOs well know, the IT built for individual departments creates silos that can spark inter-departmental friction, companywide issues, poor customer experience, and lack of employee retention.

And with change always comes bouts of doubt and reluctance. Some CIOs and other leaders might not be prepared for the time and demand adigital transformation requires especially if theyre new employees who dont know the system yet. Fear of the unknown is common in cases like this, but the payout is worth it.

Finally, many legacy companies are not prepared or built to continuously improve or to be governed and regulated. For organizations such as financial institutions, this poses a real issue when their process frameworks arent up to date and dont comply with mandates or new regulations (such as fraud and data protection).

Beyond the potential roadblocks, CIOs need to understand the long-term value of enterprise process management. Process mining automation creates on-demand actions and results. There will be more of an influx of low-code tools to help with this, and process mining vendors will have to decide which routes they want to take with their technologies.

For businesses to succeed, they need a solid BPM platform that looks at the bigger picture and incorporates process mining technology to extract the full picture and identify the risks.

Phased approaches where you introduce new systems and technologies to teams over time will best help leaders understand what the outcomes will be, what the organization is trying to achieve, and how the implementation will hit all goals.

To help CIOs use process mining to unlock returns on technology investments, these methods must be implemented deliberately.

A common worry for a company looking to advance its technology is that failing processes will be detrimental to overall business success. These process inefficiencies are silent killers in business and cant be seen without process mining. This is an imperative strategy before implementing or adding any more technology investments.

Process mining helps your company scale. By investing in process mining technology, you can look at the needs and demands that your organization will require and evaluate future technology solutions. Moreover, you can decide if these opportunities fit in with the to-be state you determined when you mined your processes.

Process mining creates a bigger picture of the as-is state and where inefficiencies live. While it might seem like a costly endeavor, implementing cheaper software that doesnt do the full gambit of process mining will hurt potential ROI and lead to more budget being spent to overhaul or restart an implementation.

Process mining provides an ongoing look at every element of your business operations. To see its true value, ensure you have a well-thought-out rollout process so your companys efficiency can soar.

Featured Image Credit: Provided by the Author; Photo by Carlos Muza; Unsplash; Thank you!

James Gibney is the Global Automation Manager at Mavim International, a Dutch-based organization committed to helping customers manage and improve business processes. Prior to joining Mavim, James worked for various B2B technology companies modernizing marketing technology stacks, administering and managing sales and marketing databases and streamlining internal operations.

Excerpt from:

3 Process Mining Methods That Will Unlock Ideal ROI Results - - ReadWrite