iGrafx

Merging Next Generation Process Mining with Proven Business Process Management: iGrafx acquires Logpickr

Merging Next Generation Process Mining with Proven Business Process Management: iGrafx acquires Logpickr

iGrafx

The iGrafx Business Transformation Platform gains patent-pending process mining capabilities, targeting faster value for digital transformation and regulatory compliance initiatives.

The iGrafx Business Transformation Platform enables organizations to connect strategy to execution while mitigating risk. This ensures compliance and provides a framework for governance and continuous business improvement. It is with continuous improvement that iGrafx announces the acquisition of the process mining specialist Logpickr, based in Rennes, France.

Logpickr Logo

Logpickr is best known for developing the patent-pending Process Explorer 360 solution for next-generation process mining. With this acquisition, iGrafx now delivers a comprehensive approach to process improvement. The merge ensures both organizations focus on operational excellence and regulatory compliance. Plus, digital transformation initiatives can improve processes and their bottom line.

Why Process Mining?

With process mining, organizations can uncover their process reality versus process assumption. They can extract information from sources. These include event logs to gain a detailed understanding of which steps are taken to complete a business process.

According to Fortune Business Insights, the global process mining software market is growing at a CAGR of 49.3%. It is projected to surge from $627 million to $10 billion by 2028 and Gartner predicts the process mining market will surpass $1 billion in 2022 alone.

This growth is driven by process mining software vendors implementing artificial intelligence functionality along with mining capabilities. It provides organizations with real-time analysis and more opportunities to enhance business operation capabilities. According to Accenture, 88 percent of companies that implemented machine learning in business process witnessed 8x improvement.

However, analyst Alan Pelz-Sharpe notes the business analysis phase is the most critical but is also given the fewest resources.

The Logpickr Advantage

Logpickr solutions and process mining capabilities are truly next-generation. There is patent-pending technology that enables the tool to understand complex processes and simplify analysis.

Traditional mining solutions work for simple, linear processes. However, they fall short when it comes to the combination of concurrent events and multi-system events. This is problematic because it requires an organization to have greater technical skills. They must understand what has been mined and that potentially causes them to waste time analyzing false variants.

Because Logpickr can analyze concurrent tasks, Process Explorer 360 reduces the number of variants by up 80 percent. The solution also leverages predictive artificial intelligence capabilities to warn users about possible process issues.

Leverage patent-pending process mining technology combined with machine learning and artificial intelligence in an easy-to-use, highly functional interface.

More Complete Business Process Management

Comprehensive business process management begins with the discovery of existing systems. All interactions map back to the intended design. Using the right solutions, teams can better understand the original process plan. They can also gather data on what occurs and seek areas for improvement and optimization.

With Process Explorer 360 and the iGrafx Business Transformation Platform, organizations can achieve:

  • True 360-degree process management: Add Process Mining, to connect the “as-intended” view and the “as-executed” view. This ensures correct conformance analysis and identifies opportunities for improvement.
  • Greater operational intelligence: Combine the power of BPM and process mining to gain live insights. Get actionable information in context for customer-centric differentiation.
  • Reduced time to value: Make smart decisions faster. Gain a competitive advantage with wider process analysis now at your fingertips.

Use cases include improving business processes, auditing and compliance, analysis and validation, and process automation.

A Process to Improve Performance

The iGrafx Platform and Process Explorer 360 help business analysts ensure alignment for data and key performance indicators. Tie these into an operational view in the repository. This ensures greater operational intelligence and a true 360-degree view of the process.

Process Explorer 360 Delivers the Following Advantages for Process Mining:

  • Eliminate false variants with concurrent event analysis. This ensures users focus on actual variants for faster insights.
  • The solution reduces the need for analyst resources. It comes complete with a connector module to over 100 popular systems with integrations done via simple low-code definitions.
  • The solution can process large amounts of data in real-time at a massive scale. Companies with large datasets or high transaction volumes can get insights to make the right decisions.

With iGrafx and Logpickr Process Explorer 360, businesses gain a more holistic approach to process improvement.

For more information about process mining or other iGrafx BPM solutions, please contact us today.

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