When the Dutch financial services group APG wanted to understand better why their clients were calling their call center. They were able to quickly see that a small group of clients was taking up a majority of the call center resources: there was numerous divorcees calling in the time before their divorce settlement to ask questions and get answers about the intricacies of their pension entitlements.
With the average call costing approximately $15, it was unwelcoming news! Plus, APG had already invested in a website which it had thought was tailored to meet the needs of their clients and answer these questions, making the calls unnecessary. Rachid El Hasnaoui, a business intelligence specialist at APG said that they were interested in finding out why people needed to call three or four times, and some cases even more than that.
The solution was simple: employ process mining, a game changing technology that is helping some of the world’s largest companies understand their processes better, including Airbus, General Motors, KPMG, Walmart and more. Process mining tools provide insights into process execution and are generally good at bridging the gaps between different systems and information silos. These tools focus on process understanding and allow users to see what is actually happening in business processes as-is. Focusing on discovery, process mining extracts process related information to help verify process models for an organization.
Where did Process Mining Come From?
The digital transformation sweeping every industry and one that has relied heavily on traditional Business Intelligence tools, also birthed Process Mining. Today there are at least two dozen products on the market to choose from, and more coming all the time. Most of those tools reflect the original approach and techniques developed by Dr. Ir. Wil van der Aalst, the “father” of process mining. These process mining concepts emerged out of Dutch academics at the Eindhoven University of Technology.
However, with the combination of input from business leaders, the frustration with limitations of traditional business intelligence tools, and with the needs of the enterprise business user in mind, process intelligence emerged in the United States. These platforms were built from years of experience in BI, and expand beyond classical, European rooted process mining – offering advanced process analytics, the process intelligence platforms are emerging as the golden ticket to process excellence.
It is my prediction that process analytics tools will become a common application software for businesses large and small. The value these platforms can deliver far outweigh the costs of continuing to not know how processes are executed based on real data.
Companies Succeeding with Process Mining
Companies are looking for the latest and greatest process analytics solutions to automate tasks and transform their organizations to compete in the digital age. Every company, small and large, strives for effective and efficient business processes. So, how do you guarantee you are understanding your business processes with 100% transparency?
Process Analytics has become the key to success for many Fortune 500 organizations. Industries including finance, telecommunications, insurance, retail and healthcare are the leading innovating industries who have begun implementing process analtyics into their businesses. The results have been incredible and are showing other companies just how much this groundbreaking technology is changing the way of business today.
KPMG: Improving a Dutch Bank’s Loan Applications with Process Mining
With the fast-growing industry of Fintech, the world of Finance is changing exponentially. With cryptocurrency and virtual banking that allows for immediate transferring and exchanging of money, the finance world is beginning to become flooded with data and processes that need understanding. KPMG, for instance, is using process mining AND predictive analytics to improve the loan application process for their customers.
With the use of process mining, KPMG was able to see how long each loan process took, what people are typically asking the money for, and the outcome for the loan application. This information allowed KPMG to see the issues they are continuously having with their clients. Why are certain cases taking longer than others? Why is this loan application still pending? Knowing these answers can help focus the company on the real problems, which then can lead to improvement on the right processes that need to be fixed.
KPMG was able to discover that in a total of about 31,000 cases, there was an average wait time of 21.90 days per client. They also discovered that debt restructuring took the longest amount of time at an average of 31.18 days. This then triggers the employees to focus on this issue by tracing back to the end to end process of these cases and ultimately, finding a solution to lower the amount of wait time.
Vodafone Triumphs with Process Mining
Telecommunications companies, like Vodafone, have been the early adopters for improving upon customer service. This industry generates large amounts of data that includes call detail data, network data, and customer data. These three important aspects of the industry are being improved by process mining and digital transformation.
Vodafone’s ability to quickly discover their bottlenecks with process mining allowed them to implement a more efficient process structure and enabled the improvement in the efficiency of their processes. They were able to identify improvement opportunities and implement real change within their organization. With the help of process mining identifying repeated tasks Vodafone employees have eliminated wastes and spend more time solving customers’ problems. They are utilizing process mining to make intelligent decisions based on the data and not best guesses or estimates. All of this is enabling positive change and improving their customer experience.
According to a recent analysis, after just one year of implementing process mining, they were able to decrease their cost per process order by nearly $.40. They were also able to increase the work done without any manual rework from 73% to now 93% just within the last year. With the help of process mining technology, Vodafone was able to effectively improve the quality of their business processes and better position themselves in the competitive telecommunications industry.
The Future of Process Analytics
Where there is data – there is an opportunity for improvement. Every industry can improve their processes with a process intelligence solution. The more technology advances, the more necessary and relevant this type of technology becomes; there is so much data within the IT systems of modern organizations. We are truly in the time of BIG DATA, and it’s only getting bigger. All that data can be leveraged to offer better customer service, improve process outcomes, sustain process excellence, and so much more to add to the bottom line.
Want to learn more about process analytics software and how TimelinePI Process Intelligence can completely revamp your business processes? Get in contact with us! https://timelinepi.com/contact-us/ We look forward to hearing from you!
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