Mindzie: How this Startup is Leading the Charge on Driving Digital Transformation through Process Mining
Every business has a mandate to drive efficiency. Whether they are growing, shrinking, acquiring, or selling businesses are never stagnant. The goal behind digital transformation is, to unlock the full potential of companies through the use of technology. That said, the current toolset available has primarily been a handful of key systems like ERP’s that help operate the business and set the desired structure. These systems, however, are really designed to help run the business; they do not identify ways to improve it. So, when it comes time to drive improvements, organizations struggle to know where to look.
Some companies have taken steps toward digital transformation, implementing technologies like Robotic Process Automation (RPA). Many have discovered that these RPA projects are not delivering the results they expected. This is rarely due to what the technology is capable of and more so driven by the fact that they did not fully understand the process they were trying to automate. These businesses are now turning to process mining to fill this knowledge gap as it allows them to understand how and where to invest resources, both digital and otherwise.
mindzie’s Process Mining and Operational Efficiency Platform is at the forefront of this new tech, providingcompanies of all shapes and sizes a new way to understand their business. It analyzes the data as workflows and can unlock insights into where and how to drive efficiencies. mindzie’s platform is becoming the foundation for a data-driven approach to assist organizations in improving and streamlining their business processes. The platform transforms data taken from an organization’s existing systems of record—SAP, Microsoft Dynamics, NetSuite, JD Edwards, Oracle, Salesforce, and other IT solutions—to help them understand inefficiencies and opportunities in their business workflow. “We enable businesses to increase efficiency significantly by providing a new way to look at their operation, not as siloed information, but as workflows that stretch across departments,” states James Henderson, CEO of mindzie.
To this end, mindzie is driving a whole new approach by democratizing process mining with its low code platform that allows businesses of all shapes and sizes to realize the power and benefits. With the company’s platform, organizationscan unearth out-of-the-box insights into their workflows without advanced technical knowledge. Further, the platform has all the tools that provide organizations the ability to map, analyze, and optimize business processes in a single interface. It analyses factual data to identify locked performance potential, enabling operational efficiency and cost-saving optimizations. This improves an organization’s ability to determine and eliminate bottlenecks, improving efficiency, driving improvements in working capital, and streamlining compliance and audit.
Delivering Clear Benefits
We enable businesses to increase efficiency significantly by providing a new way to look at their operation, not as siloed information, but as workflows that stretch across departments
For some industries, process mining is a relatively new concept but, according to mindzie, the benefits can be staggering, and demand is growing. “Some of our customers are seeing efficiency gains of 30% and driving significant improvement in areas like working capital,” says Mr. Henderson. mindzie is seeing clients apply the technology to various departments, including finance, manufacturing, procurement, customer support, HR, and others. These departments are gaining insights to allow them to drive process enhancements, from procure to pay, order to cash, hire to retire, accounts payable and receivable, to sales opportunities, supply chain, support tickets, and many others.
Delivering a Turnkey Approach
mindzie has spent years developing and evolving its platform to provide a complete solution to its clients. “Our platform combines the 4 key pieces that companies and consultants need to effectively deploy process mining: extraction tools, data transformation tools, log enrichment, and visualization,” says Soren Frederiksen, CTO of mindzie.
Moreover, for organizations that lack resources to effectively leverage this type of technology, mindzie offers Process Mining as a Service, enabling them to enjoy the cost-saving and process efficiency benefits without expanding their workforce. mindzie engages with the client’s teams, understands their requirements, and sets up the process mining platform to help them embark on a journey toward operational excellence. mindzie also regularly collaborates with clients’ teams to identify bottlenecks and opportunities within their business processes to help drive additional process efficiencies.
“Our platform combines the 4 key pieces that companies and consultants need to effectively deploy process mining: extraction tools, data transformation tools, log enrichment, and visualization”
It is clear that Process Mining technology is revolutionizing the future of business operations and mindzie has established itself as a leader in the space. The company says it plans to continue to build out its platform with additional use cases and more AI driven insights as it looks to evolve from Process Mining and Optimization into a complete business operation improvement suite.