iGrafx Recognized as a Leader in The Forrester Wave™: Process Intelligence Software, Q3 2023
By iGrafx Chief Product Officer, Shoeb Javed
Industry analyst firm, Forrester, recently released The Forrester Wave™: Process Intelligence Software, Q3 2023 and named iGrafx a Leader! In this blog we’ll take a look at the report’s findings and offer a deeper dive into what the Forrester report says about iGrafx process intelligence software.
What is the Forrester Wave™ for Process Intelligence?
The Forrester Wave™: Process Intelligence Software, Q3 2023 is an evaluation of “14 providers that matter most.” The assessment process included research, analysis and scoring across 28 criteria. The Wave classifies vendors as Leaders, Strong Performers, Contenders, and Challengers and helps technology professionals select the right provider for their process intelligence needs.
How does Forrester define Process Intelligence?
Process Intelligence Software is defined in the Forrester report as “products that provide analytics about an organization’s processes that are operated by humans as well as implemented in IT systems.” Many think of process analytics as task and process mining-based capabilities. At iGrafx we agree with Forrester that customers should look for vendors who combine process and task mining, support process transformation beyond preparation for automation, and offer predictive and prescriptive capabilities.
How did iGrafx score?
iGrafx achieved the highest possible scores in eleven of the report’s criteria, including vision, process simulation, improvement detection, process documentation and modeling, and pricing flexibility and transparency.
What did Forrester’s analysis uncover about iGrafx?
The Forrester Wave™ said: “iGrafx takes advantage of over 30 years of experience in the BPM space with many large-scale deployments.”
iGrafx was founded in 1991 with a focus on business process management (BPM). We have since expanded our offering to provide an all-in-one solution – Process360 Live – that supports the end-to-end process lifecycle, including process intelligence. We’re growing every day, with more than 2,000 global customers, including many Fortune 500 companies.
Our customer base spans a variety of industries and regions:
The Forrester Wave™ said: “iGrafx excels at classic process improvement features, such as process simulation, mapping, benchmarking, and standards definition.”
Proudly, we received the highest possible scores in these three criteria: process simulation, modeling, and standard definition.
iGrafx helps companies test real-life scenarios and process design changes before they are implemented, highlighting the best way forward and saving valuable time and resources. Combined with the following, it is the most comprehensive approach on the market to drive meaningful process improvement with simulation:
- Multiple Scenario Analysis – Identify optimal changes through configurable “what-if” analysis.
- Intelligent Swimlane® Diagrams – Minimize time to create and edit process maps and communicate cross-department process dependencies.
- Design of Experiments (DOE) – Identify optimal changes by designing and performing full factorial experiments in a risk-free environment.
iGrafx helps companies model their workflow processes, from start to finish, to create a vivid blueprint of the steps taken to deliver a product or service. These maps are part of a comprehensive business architecture and can be used to represent the operations of an entire business for the purpose of process understanding, consistency, improvement, and prediction.
- Complete process documentation provides a single source of truth for all process information, crucial for audits and compliance.
- iGrafx centralized process repository contains critical information about processes and their interdependencies, enabling enterprise collaboration, risk mitigation, and adherence to best practices.
With iGrafx, modeling isn’t just about visualization—it’s about adhering to gold standards. Through best-practice modeling and benchmarking, users can confidently align with established industry norms and tested methodologies. iGrafx facilitates effortless import of benchmarking metrics from providers like APQC (Process Classification Framework), EY, and Deloitte. So, with iGrafx, you’re not just mapping processes; you’re optimizing them with industry leaders’ insights.
Process Standards Definitions
Process standards are the cornerstone for businesses to institutionalize best practices, offering a systematic way to monitor alterations through versioning, model evaluations, and approval protocols. With iGrafx, every modification is meticulously archived within a diagram’s history, ensuring that past iterations are always within reach. For those seeking a deeper dive, each version can activate a detailed process narrative report, encapsulating the workflow, its characteristics, and the crucial RACI delineations.
The Forrester Wave™ said: “[iGrafx’] superior vision blends in modern technologies, such as process mining, task mining, real-time monitoring, predictive analytics, and conversational automation.”
Amongst the Leaders in the report, Forrester’s assessment of our offering gave us the highest score in the Strategy category. We believe process intelligence must extend beyond the standalone capabilities of process and task mining to include simulation, predictive analytics, and real-time monitoring. And most importantly, this ‘operational intelligence’ should be integrated with process design (repository, compliance, risk management, journeys & collaboration) and automation capabilities in a single platform that allows customers to make continuous improvements. Additionally, process intelligence must be accessible to everyone in the company, not just process experts.
Our strategy is to leverage our 30 years of experience in the process mapping and design space and leverage modern technologies such as:
- Process and task mining provides a holistic view of the company processes by combining insights from back-end systems (technology – process mining) with insights from front end employee systems (people – task mining). AI-driven task mining is accomplished through our partnership with KYP.ai
- Real-time monitoring ups the ante for connecting analysis and visibility to decision-making with a continuous stream of relevant and current process information. This capability helps teams understand whether improvements they’ve made are paying off, and adjust accordingly.
- Our patent-pending AI-based, Predictive Analytics provides analysis and visibility to process and business outcomes ahead of time with triggers, thresholds, alerts, and actions for organizations to consider.
- Conversational Automation is an AI-led technology, from our co-development partner – Krista, designed to build automation applications quickly and simply without waiting for scarce or expensive IT or development resources. This goes beyond the traditional web-form approach to automated applications, supporting conversational and alternative human interfaces including text, chat and email. The conversational interface includes AI capability, allowing human inquiry into activities or status using natural language.
Leveraging modern technologies has helped iGrafx create a whole new category in process intelligence focused on predicting the future, rather than analyzing the past.
We believe companies looking for a best-of-breed intelligent process platform designed to enable enterprise-wide process improvement with process mining, analytics, simulation, modeling and documentation will benefit most from the iGrafx product.
To download a complimentary copy of the Forrester Wave™ report, please visit our website.