Published 22. Aug. 2018

Goal: A Self-Evolving Organization through Continuous Transformation

Peter Hoogland, Partner Manager, and Inge Bouma, Business Developer at ProcessGold on the importance of embracing digitalization, and how the ProcessGold Enterprise Solution changed the business processes of companies.
AI
Analytics
Finance

 

ProcessGold wouldn’t exist if digitalization hadn’t taken place. The digital transformation influences the way companies operate and are being led. Decision making processes are more and more based on data and algorithms. Digital capabilities have enabled companies to gather more data about contact points with customers than ever before. This data is contained in many different systems, but can provide potentially crucial insights for improving customer satisfaction when combined. The beauty of Process Mining is the possibility of combining all these different sources into one customer-centric process with the ability to compare the customer journey for different customers in order to align and apply best practices. It also provides the possibility to zoom in on the individual customer in order to serve them better.

 

ProcessGold provides technology that builds upon the digitalization trend. They deliver an enterprise solution platform that employs the power of process mining in order to visualize and improve a company’s (business) processes based on facts.

 

The ProcessGold Enterprise Platform

 

ProcessGold has created an enterprise platform with process mining algorithms to visualize a company’s business processes purely based on data from their (primary) IT systems (SAP, Oracle, workflow systems, etc.). Process mining combined with visual analytics gives companies insights in their performance and how to enhance them. The ProcessGold Enterprise Platform allows customers to easily visualize and analyse their business processes based on factual data and making fact-based improvements greatly increases the value of the results. ProcessGold software enables customers to finally put operational excellence in practice. Fact-based analysis enables an organization to discover and identify improvement potential, combined with extensive facilities to track progress and realize potential savings or quality improvements. The enterprise capabilities of ProcessGold ensure that customers can more easily tap into the knowledge and intelligence of business users, both during analysis and realisation. The combination of collecting more data, cheaper storage and faster and increasing computational power will lead to information accessibility in the wink of an eye. Due to this, new algorithms will arise that brings Artificial Intelligence to the next step.

 

A Step Further: Stop Guessing, Act on Facts

 

Process mining will help this cooperation between humans and machines will merge in such a way that they will increasingly complement each other. Process Mining will help make processes more efficient and faster, and algorithms will be able to analyse and optimize processes. AI will be the big enabler for predictive process analytics. Being more efficient will save a lot of costs and improve a company’s output. Being completely transparent makes it possible for organizations to be fully in control.

 

However, in order to get to the next level, an organization must be brave enough to take a leap; let alone, a step. Change is and will always be inevitable in a process of transformation.

 

Changing is Challenging

 

In order to be a part of this era of advancement, organizations need to forego their traditional models and practices that are deemed ineffective. The realization of potential improvements often requires changes in organizational structures, personnel or operational behavior. The following challenges are projected due to an organization’s inability to adapt:

 

  • Organizational resistance to change. In times of change, not changing is far riskier than taking the leap. Digital projects that are vital to a company’s future success can face the trouble of getting funded, resourced or marketed. Organizations are asked to justify ROI to an unreasonable level of certainty or sent through endless legal reviews.
  • Lack of a clear vision for a digital transformation.
  • Ineffective gathering and leveraging of customer data.
  • Legacy systems and inability to be flexible in the way an organization operates.
  • Legacy business model. In order to stay successful, organizations need to change the way they used to make money.

 

The Solution:

 

Transparency leads to insights that would otherwise not come to the surface. Acting on these insights will undoubtedly lead to resistance in the organization. During this organizational transformation, it is important to provide sufficient support to convert the gained insights with the aid of Process Mining into meaningful actions that lead to higher quality at lower costs. Key is to allow all those involved to participate in the change process.

 

Companies that embrace the digital transformation together with the transparency that it can give will increase their operational efficiency, customer engagement and workforce productivity by at least 15 to 20%. Decision makers will now have access to real time information to act on instead of being informed about what their employees want to inform them about.

 

Organizations need to be aware of digitalization. This means basic knowledge and skills should be provided to every individual at an enterprise. Capacity should be made available in order to involve in digital projects. This typically requires employees to spend time on digital initiatives in order to increase the organization’s capacity to innovate (i.e. customer facing roles or supporting functions). The leadership of an organization should be skilled and trained for end-to-end digital business across the enterprise’s value chain. Driving the change of digitalization with regard to skills and talent must be seen as a strategic priority for top management and treated as business as usual.

 

The ultimate goal is creating an organization that self-evolves through continuous transformation.

ProcessGold will be attending 600Minutes Executive Finance in The Netherlands on the 6th of September 2018