An increase in enterprise demand for hyperautomation has boosted the demand for process mining tools. With advancements in technology such as RPA, low-code/no-code, and artificial intelligence, the role of process mining has elevated from process standardization or automation to digital transformation. Platform features such as data integration with IoT devices and digital twin development enhance process understanding and data visualization capabilities. To tap potential market opportunities, SaaS providers are embedding process mining in business applications by developing in-house capabilities and acquiring or partnering with process mining vendors.
These emerging trends are covered in Avasant’s Intelligent Process Mining Platforms 2022–2023 RadarView™. The report is a comprehensive study of the industry-wide adoption of process mining. It analyses the current landscape and provides enterprise recommendations. It takes a close look at the leaders, innovators, disruptors, and challengers in this market.
Avasant evaluated 25 platform providers using three dimensions: product maturity, enterprise adaptability, and future readiness. Of these, we recognized 13 as having brought the most value to the market during the past 12 months.
The report recognizes platform providers in four categories:
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- Leaders: Celonis, Minit, SAP, and Software AG
- Innovators: ABBYY, Appian, IBM, and QPR
- Disruptors:Apromore and iGrafx
- Challengers: Mavim, MPM ProcessMining, and StereoLOGIC
Figure 1 from the full report illustrates these categories:
“Process mining is often seen as a tool to deliver insights at a process or transaction level,” said Anupam Govil, Avasant partner and digital practice lead. “However, with advancements in computer vision, AI, and deep learning, process mining can capture user-level insights, providing an opportunity to analyze behavioral changes in employees and customers.”
The full report provides a number of findings and recommendations, including the following:
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- Process mining industry client revenues grew nearly 40% in 2022, primarily to automate insight generation from business workflows for process conformance, process benchmarking against industry KPIs, and identifying automation opportunities.
- The manufacturing sector has emerged as the biggest consumer of process mining platforms.
- Owing to supply chain disruptions, use cases driving increased process mining adoption in the manufacturing sector include supply chain management, inventory management, and asset optimization.
- Enterprises are investing in process mining platforms to gain actionable insights from their RPA, CRM, ERP, and BPM workflows. This has put pressure on these platform providers to integrate process mining into their solutions.
“Process mining tools are gaining traction as enterprises are demanding hyperautomation,” said Chandrika Dutt, Avasant research leader. “As a result, platform providers are now playing a dual role in automating workflows and then deriving insights from the data.”
The full report also features detailed RadarView profiles of the 13 platform providers, along with their solutions, offerings, and experience assisting enterprises in their process mining journeys.
This Research Byte is a brief overview of the Intelligent Process Mining Platforms 2022–2023 RadarView™ (click for pricing).
