Minimize risks with Process Mining

Minimize risks with Process Mining
April 26, 2019 Jonny
In LANA, Process Management, Process Mining

LANA Process Mining: The Risk Management Tool for Process Managers

In the first part of this article, we have illustrated the extent to which the supposedly separate areas of process and risk management overlap. However, to realize the true potential of this intersection, companies need the right tool. LANA Process Mining provides process managers with the means to effectively minimize risk through automated process analysis, monitoring and optimization. In the second chapter of this article, we look at concrete examples of how LANA effectively eliminates business and process risks.

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.

Risk Example 1: Lack of Resources

In almost every business area, logistics and resource planning are essential for effective process execution. However, without a comprehensive overview of the available resources, planning is often based on subjective estimates. In this case, logistics is planned the way the process should ideally run – not the way it actually runs. This often leads to unexpected bottlenecks and long idle times, which ultimately affect the competitiveness of the entire company.

LANA Process Mining presents any process completely and transparently. The visualization of these processes is based on data, not on estimates. This allows the process management not only to find and optimize possible bottlenecks and scarcities. You can also use the software proactively to prevent delays in the process from the start.

Risk Management Process Mining – Lana Labs – Prevention

Risk Example 2: Compliance Risks in Audit

Even well planned and flawlessly executed processes entail risks. Most business processes are subject to both internal and external regulations – from company-specific service level agreements to legal requirements. If these rules are not observed, this can lead to drastic internal upheavals or even judicial consequences.

LANA’s automated conformance check provides the solution. The tool allows the automatically detected and visualized actual state of a process to be compared with the ideal target model. This target-actual comparison shows deviations from the desired status at the push of a button, thus also revealing critical compliance violations. LANA Process Mining is therefore an essential tool particularly when preparing for audits.

Risk Management Process Mining – Lana Labs – Model

Risk Example 3: Problems with Suppliers

Bottlenecks in resources cannot always be attributed to internal reasons. Even if logistics and resource planning run perfectly within a company, external factors can still cause delays. A supplier may be late or delivering defective goods. In a superficial process analysis it is difficult to distinguish these factors.

LANA pushes deeper using complex machine learning technology. In the automated root cause analysis, an algorithm determines patterns and similarities between process deviations. This allows critical issues to be traced back to their origin. It provides a fact-based decision basis to avoid external risks in the future.

LANA Process Mining for Process and Risk Managers

In process management, the identification and resolution of risks is becoming increasingly important. In the past, however, there was a lack of tools to get to the bottom of such risk factors precisely and sustainably. LANA offers the solution. Its extensive features help to detect, optimize and prevent internal and external risks. The tool thus effectively bridges the gap between process and risk management.

Discover the potential of strategic process analysis. Our experts will find the best solution for you.