{"id":96711,"date":"2023-08-14T14:57:24","date_gmt":"2023-08-14T13:57:24","guid":{"rendered":"https:\/\/www.intelligentcio.com\/eu\/?p=96711"},"modified":"2023-08-14T14:57:25","modified_gmt":"2023-08-14T13:57:25","slug":"businesses-are-investing-in-process-intelligence-to-navigate-macroeconomic-challenges","status":"publish","type":"post","link":"https:\/\/www.intelligentcio.com\/eu\/2023\/08\/14\/businesses-are-investing-in-process-intelligence-to-navigate-macroeconomic-challenges\/","title":{"rendered":"Businesses are investing in process intelligence to navigate macroeconomic challenges"},"content":{"rendered":"\n

Study shows that process intelligence is crucial to maximise efficiency and productivity, both critical to weather volatile markets and disrupted supply chains.<\/em><\/strong><\/p>\n\n\n

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HFS Research has published a study commissioned by Celonis and IBM Consulting that shows approximately 90% of surveyed enterprise leaders are suffering from supply chain disruption and more than 75% cited the volatile market conditions marked by inflation and recession as having a major impact on their businesses. <\/p>\n\n\n\n

The study also highlights process intelligence as the most effective way to weather these macroeconomic challenges.\u00a0<\/p>\n\n\n\n

The findings show that process intelligence, specifically process mining adoption, is driven by customer service (56% in production or scaled up), IT (53% in production or scaled up) and supply chain (55% in production or scaled up). <\/p>\n\n\n\n

Further data from the research demonstrates that businesses believe in the power of process intelligence:<\/p>\n\n\n\n

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  • Process intelligence is the number one emerging tech investment expected to impact process transformation today.<\/li>\n\n\n\n
  • 88% of enterprise leaders expect increases in process intelligence investments despite the harsh economic climate.<\/li>\n\n\n\n
  • More than 95% of organisation leaders see combining visibility into cross-functional operational performance and monitoring as a game-changer.<\/li>\n\n\n\n
  • About half of enterprise leaders are still exploring ways to become more predictive with their data.<\/li>\n<\/ul>\n\n\n\n

    Process transformation for efficiency, productivity and lowered costs<\/strong><\/p>\n\n\n\n

    Process transformation efforts have come to the forefront for many organisations, who are focusing on bottom-line metrics – specifically efficiency and productivity gains, as well as cost reductions. <\/p>\n\n\n\n

    The study findings highlight that process intelligence has become the number one way to address process debt and that ERP alone cannot do it.<\/p>\n\n\n\n

    ERP modernisation has often been hyped as the prescription for every ailment related to business processes, but roughly only a third of organisations (36%) believe it is essential today. <\/p>\n\n\n\n

    Designing and running business processes that can thrive despite uncertain macroeconomic conditions will require enterprises to address their process debt, which HFS Research sees as a corollary to technical debt. <\/p>\n\n\n\n

    Process debt is the creation of awkward (and often manual) processes that are designed to buttress aging technologies and that must be redesigned and modernised to improve business operations.\u00a0<\/p>\n\n\n\n

    Infusing intelligence and predictability with digital process twins<\/strong><\/p>\n\n\n\n

    Process intelligence has been a good starting point for diagnostics and addressing process problems or process debt. <\/p>\n\n\n\n

    The study shows that process intelligence, implemented atop digital process twins, can deliver multi-functional data and insights. <\/p>\n\n\n\n

    This will help business leaders predictively manage business uncertainties through digital command centres.\u00a0<\/p>\n\n\n\n

    Digital process twins (also known simply as \u2018digital twins\u2019) enable multi-process and multi-function visibility, as well as blend multiple datasets, augmenting process intelligence which was traditionally more focused on impact on individual business functions. <\/p>\n\n\n\n

    Digital twins enable scenario modelling and planning, as well as stress-testing and simulations – allowing for better future-planning and addressing uncertainties.<\/p>\n\n\n\n

    \u201cProcess mining provides unparalleled visibility into how a business runs, uncovering value opportunities hidden by complexity within and across processes,\u201d said Prof. Dr Wil van der Aalst, Chief Scientist at Celonis. <\/p>\n\n\n\n

    \u201cProcess mining, particularly object-centric process mining, is foundational for analysing a digital twin. With digital twins building on OCPM, teams can analyse multiple processes simultaneously. <\/p>\n\n\n\n

    “Digital twins can effectively be used to enable quick wins, advanced simulation and expert decision-making, and – in an uncertain macroeconomic climate – help organisations to look forward and prepare for any kinds of uncertainties through a digital command centre.\u201d\u00a0<\/p>\n\n\n\n

    New horizons: External exchanges<\/strong> According to the study, the potential for external collaboration with shared process data exchanges is on the horizon for ambitious businesses that want to seek entirely new sources of value. <\/p>\n\n\n\n

    An example of this might be a CPG company or a retailer exchanging inventory and payment data for mutual decision-making and action-taking benefits – in other words, looking for new sources of value through data exchanges.<\/p>\n","protected":false},"excerpt":{"rendered":"

    Study shows that process intelligence is crucial to maximise efficiency and productivity, both critical to weather volatile markets and disrupted supply chains. HFS Research has published a study commissioned by Celonis and IBM Consulting that shows approximately 90% of surveyed enterprise leaders are suffering from supply chain disruption and more than 75% cited the volatile […]<\/p>\n","protected":false},"author":21,"featured_media":96712,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[6587,6617,93],"tags":[11491,18954,18955,18956,6852],"class_list":["post-96711","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-analysis","category-research","category-top-stories","tag-celonis","tag-hfs-research","tag-ibm-consulting","tag-process-intelligence","tag-research"],"acf":[],"publishpress_future_workflow_manual_trigger":{"enabledWorkflows":[]},"_links":{"self":[{"href":"https:\/\/www.intelligentcio.com\/eu\/wp-json\/wp\/v2\/posts\/96711","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.intelligentcio.com\/eu\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.intelligentcio.com\/eu\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.intelligentcio.com\/eu\/wp-json\/wp\/v2\/users\/21"}],"replies":[{"embeddable":true,"href":"https:\/\/www.intelligentcio.com\/eu\/wp-json\/wp\/v2\/comments?post=96711"}],"version-history":[{"count":7,"href":"https:\/\/www.intelligentcio.com\/eu\/wp-json\/wp\/v2\/posts\/96711\/revisions"}],"predecessor-version":[{"id":96723,"href":"https:\/\/www.intelligentcio.com\/eu\/wp-json\/wp\/v2\/posts\/96711\/revisions\/96723"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.intelligentcio.com\/eu\/wp-json\/wp\/v2\/media\/96712"}],"wp:attachment":[{"href":"https:\/\/www.intelligentcio.com\/eu\/wp-json\/wp\/v2\/media?parent=96711"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.intelligentcio.com\/eu\/wp-json\/wp\/v2\/categories?post=96711"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.intelligentcio.com\/eu\/wp-json\/wp\/v2\/tags?post=96711"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}