BUSINESS PROCESS OPTIMIZATION
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A business is only as efficient as its business processes. More and more companies are recognizing this and investing in process improvement initiatives like Six Sigma. Some have taken the next step and are starting to implement technologies that support this process-based approach.
The goal of enterprise process awareness and continuous improvement presents a set of unique technical challenges. Business processes typically span across multiple records systems and platforms. Most processes do not have an explicit representation in any single environment. Moreover, most of the records systems are transaction-based and do not even employ the concept of a business process.
As a result, with traditional technologies such as BI, business activity monitoring (BAM), or business process management (BPM), it has been extremely difficult to cost-effectively analyze, monitor, and optimize business process performance on an historical or real-time basis.
For the first time, powerful process analytics are within easy reach using Altosoft’s breakthrough Automatic Process Discovery technology.
The key to Altosoft’s unique ability to deliver process analytics without time-consuming process definition is Altosoft’s patent-pending Automatic Process Discovery engine. This unique engine monitors enterprise data and events in systems that it is connected to, and uses specialized algorithms to reconstruct and track the underlying business processes. The Altosoft engine automatically adjusts and extends a simple baseline process definition to match the actual processes, as they are auto-detected by the system.
Once this automatic process mapping has occurred, historical data and new events are mapped against the discovered process. Process state information and other progress data is converted into the wide array of metrics, fully describing all aspects of the process execution.
Examples of process metrics automatically calculated by Altosoft Insight include:
- Integrated business values based on processes (revenue, sales, new accounts, AUM, etc.)
- Process execution time
- Step-to-step execution time
- Number of processes with exceptions
- Number of processes with repeated or missing steps
- Number of incomplete processes
This information can then be delivered directly through the Altosoft Insight Dashboard to business users, enabling real-time operational process monitoring and optimization.
To learn more, request our white paper here.