Identifying bottlenecks that slow down productivity is a real challenge for Businesses. Most times, what is assumed to slow down productivity may not be the real cause. This is because it is hard to find evidence to support these assumptions.
However, ever since Process Mining came into the picture, understanding and measuring the performance of complex processes has become much easier. Process mining technology allows companies to dig deeper to find those bottlenecks and boost process performance. As the processes in an organization get more and more complex, the importance of process mining increases.
But the main question here is, what is the future of QTC implementations and business processes? As businesses in the digital world keep evolving, the processes that enable this also keep getting more complicated. These complex processes are supported by multiple systems in an organization. Even if one system or a business process slows down, the entire system comes to a standstill.
Process mining helps businesses understand their processes better by leveraging data. This is done by discovering actual processes and their deviations. Their performance levels are monitored and ways to improve these performance levels are suggested.
In the quote-to-cash journey, information systems can log all events of every process such as approvals, pricing, etc., and provide valuable data. Manually analyzing this data to identify how to streamline processes leads to subjectivity. Using process management, the processes within the quote-to-cash journey can be optimised automatically. This gives your sales representatives more time on the field to engage with clients and prospects and play the consultative role that is demanded from them.
Process mining tools can help with data-driven decision making and take subjectivity out of the game. There is a need to not only get the right results but also understand the determinant factors that lead to those results. This way in case of new challenges or issues we know the variables that have to be adjusted or changed to continue improving and performing effectively. Process Mining can help organizations go beyond streamlined business processes to an insight-driven world.
To learn more about how one can leverage Process Mining in their Quote to Cash journey, check out my Best-Selling Book Reimagine Enterprise Sales System exclusively on Amazon.
To grab a copy right now, click here: https://www.amazon.com/dp/B08T8GZP9P, and to learn more about my book visit www.protikm.com.
Listen to Industry Leaders talk about their experience with Quote to Cash and Business Systems Monetization on my podcast Reimagine Enterprise Sales System at https://protikm.com/podcast-reimagine-enterprise-sales-system/
Also available on Google Podcast, Apple Podcast, and Spotify.