Mindzie: How this Startup is Leading the Charge on Driving Digital Transformation through Process Mining

James Henderson, CEO The phrase ‘Data is the new oil’ is, by no means, a misnomer. Data-driven insights are the only way forward for organizations in their pursuit of achieving operational excellence during their digital transformation journey. Most organizations rely on manual reviews and subjective opinions for improvements, resulting in personal biases and stagnated innovation. Consequently, organizations fail to tap into the true potential of their digital transformation efforts. Departments operate in silos, which limits their ability to understand the end-to-end process to accomplish a task within the business, and thus impedes their ability to identify and remove bottlenecks and improve overall efficiency. mindzie is at the forefront of helping revolutionize how these types of challenges are solved with a new technology, that unlocks a business’ true potential through mapping, analyzing, and helping optimize business processes.

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.
There has been a gap in the information that traditional BI and reporting tools can provide and businesses are looking to process mining to give them a better understanding of their data and what it is telling them. Process mining is becoming one of the fastest growing technologie s adopted by companies globally, as it understands the activities required to complete a task, the order they “should” happen in, and how long they take. For example, think about a procurement process (also known as Procure to Pay). For simplicity’s sake you can divide the process into 2 parts: the internal process (before the PO is sent) and the external process (after the PO is sent). Using the lens of process mining, businesses are able to identify quick wins on the internal side like prolonged approval workflows, as well as begin to address longer term wins like working with vendors to improve lead times. These are just a few of the many use cases where process mining is being applied.

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.

Several organizations, from mid-size firms to Fortune 500 companies across multiple industries, have leveraged mindzie’s platform to unlock the value in their business processes. mindzie’s platform, enables them to scale without adding more resources. For example, in the order to cash process, clients have been able to turn potential orders into working capital 25% faster. The present business climate necessitates organizations to re-evaluate how they run, driving them to find ways to streamline operations is essential to helping them thrive. To this end, process mining has become a critical component in their digital transformation journey to understand their workflows and processes before they venture into new avenues of transformation such as automation and ERP upgrades/migrations. Through its data-driven perspective, mindzie’s process mining platform is transforming an industry where subjective approaches have dominated approaches to process improvement.

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.

Company
Mindzie

Headquarters
Dallas, TX

Management
James Henderson, CEO

Description
mindzie offers a process mining and optimization platform to improve and streamline business operations.

Mindzie