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4 ways to save costs with Process Mining

4 ways to save costs with Process Mining
September 2, 2019 Jonny

Save Costs with Process Mining – 4 Examples of Resource Efficiency

Data is the key to excellent processes and thus to sustainable business excellence. The positive effect that data-focused analysis methods such as process mining have on business processes can be seen in many different aspects. Faster processing times, higher output, better quality control and fact-based strategy finding are just some of the countless benefits. However, one of the most important and fundamental effects that automated process analysis has on companies should not be overlooked: you strategically save costs with process mining. Money, materials, man-hours – by using tools like LANA Process Mining you save costs in all relevant business areas. We will take a closer look at how this can look in detail in four examples.

Transform strategically. Implement smartly. Optimize sustainably.

With LANA Process Mining you have full control over your digitization strategy. You can find out how LANA makes your company faster, more efficient and smarter by talking to our experts.

1. Avoid unnecessary spending in procurement

Purchasing is one of the most obvious business areas to save immediate costs. In addition to the actual procurement of goods, a primary goal of the Purchase-to-Pay (P2P) process is to make use of maximal savings potentials. An end-to-end analysis of the P2P process with LANA Process Mining is therefore a perfect way to check how effectively this goal is achieved.

For many companies, the reality is a sobering one: extra work slows down the process and requires additional resources, cash discount periods are not met, Maverick Buying leads to inefficient spending bypassing the purchasing department and in some cases high potential for automation is not utilized. The good news is that once such shortcomings have been identified through process mining, you can directly build on this factual basis to implement strategic optimization measures.

In our use case on Process Mining in Purchase-to-Pay you will find out how companies can achieve six-figure savings with LANA.

save costs process mining

2. Use resources more efficiently

The savings potential is not always as clearly black-and-white as in purchasing. Additional costs are hidden in almost every conceivable process. In production, this is particularly evident in the form of raw materials, logistics, repairs and rework. A faulty product requires spare parts and additional material, which is directly associated with extra costs. However, even in faultless production chains, unnecessarily high material consumption and logistics delays can quickly occur.

Process Mining with LANA reveals all these aspects directly in the process data. The root cause analysis supported by Machine Learning gives you concrete starting points which specific areas in production can be optimized. A defective machine may cause frequent reworking of the product, or material procurement may not be aligned with new production plans. By uncovering the causes of process deviations, you can sustainably improve your resource efficiency.

3. More efficiency through automation

The work capacity of your trained professionals is still one of the most important resources for any company. It is therefore obvious that the skilled personnel should deal with strategically important tasks and invest as little effort as possible in repetitive routine tasks. The reality, however, is usually quite different.

An advanced way to use Process Mining successfully in your company is the identification of automation potential. Especially standardized processes with a small number of possible process variants are in many cases suitable for partial or even complete automation. At the moment, technologies such as Robotic Process Automation (RPA) are breaking new ground in the use of automation in business processes.

Read in our free white paper how Process Mining enables and supports the use of RPA.

digital automation

4. Faster process analysis and controlling

Process mining obviously has enormous application potential in a variety of business areas. It is therefore easy to forget that automated process analysis with LANA is in itself a cost-saving measure. Without process mining, in-depth analysis projects are only possible through enormous manual effort. You need to employ analysts and consultants to monitor process execution over long periods of time, conduct interviews and collect data. This costs time and personnel.

With an intelligent solution such as LANA, you can completely automate the analysis. What would otherwise take many weeks, you can solve with a few clicks in the blink of an eye. In addition, LANA offers significant benefits for your controlling and process management, even beyond the individual analysis of processes.

Realize the potential of your process data today with LANA Process Mining. Book your free product demonstration with our process experts.