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Benefits of Process Intelligence

A deep dive into the Process Intelligence technique

Business involves lot of processes that makes the work tiresome. From startups to established companies, business processes become problematic and often people find it hard to manage. When the process is understood, cost, quality and other attributes can be improvised for better results. Utilization and management of business process shapes the success rate of the business. Wondering how to improve your business processes? This blog opens the door to Process Intelligence, how it improves the workflow of your business, and its benefits when implemented. Get started with process intelligence to enhance your business processes and increase the success of your business. Learn more about our business case, Fintech Revenue Maximizer where process mining is implemented in the banking industry using the Celonis tool.

“The advance of technology is based on making it fit in so that you don't really even notice it, so it's part of everyday life.”
-Bill Gates

What is Process Intelligence & How it Augments Business

Process Intelligence (PI) collects and analyzes the data of workflow, identifies the bottlenecks, and enhances operational efficiency through continuous monitoring. Process Intelligence aids the organization to track their workflow accuracy through the work done by individuals, productiveness of the individuals, locating the bottlenecks and work details. To be precise, it helps in collecting accurate information regarding the organizations’ processes. Process Intelligence improves digital transformation, process automation and enterprise optimization.

Our Fintech Revenue Maximizer solution supports the Banking Industry in Loan processes from Loan issue to approval or rejection. Celonis is a process mining tool that monitors, discovers, and optimizes the inefficiencies in the processes. This tool is used to overcome the challenges such as loan cancellation, delay in the loan process, increased operational cost, and employee error which leads to loan rejection.Read moreabout our business case to know how our business case solves the above challenges and benefits the banking industry.

Process Intelligence Capabilities

Process Intelligence is an umbrella term that covers Process Modelling, Process Mining, Process Automation, and Task Mining.

Process Modeling
Graphical visualization of the business processes

Process Automation
Automates business processes

Process Mining
Analyzes, monitors, and optimizes the business processes

Task Mining
Collects and analyzes the user data in detail

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Benefits of Process Intelligence

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Cost Optimization

Using process intelligence, you can optimize the costs by eliminating the bottlenecks and establishing effective processes. This supports in boosting up the other areas of your business.

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Business Process Transparency

End to end process visibility in the workflow is possible with process intelligence. This makes the processes transparent.

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Data Driven Decision Making

When the available data is in high quality and accurate, it is processed and the decisions are automated. This data-driven decision making is enabled through Process Intelligence. Tools like SAP Signavio aids in choosing the right data driven decisions for businesses.

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Eliminates Bottlenecks

Processes mostly holds bottlenecks and errors which affects the productivity on the whole. Elimination of bottlenecks increases the efficiency of the workflow and processes.

To conclude, through Process Intelligence, you can understand and improvise your organization’s process. With the above mentioned Process Intelligence components, implement process intelligence in your company/organization to enhance your business process. Approachour expertsat Ennuviz to choose the right platform for your organization.