The emergence of generative AI has transformed the landscape of process mining. Platform providers have expanded their capabilities to extract unstructured data from enterprise environments and deliver insights through natural language queries. Enterprises are increasingly prioritizing rapid process optimization with personalized recommendations. Moreover, they utilize what-if scenario simulations and digital twin technology to forecast and evaluate business impacts early. To capitalize on market opportunities, platform providers are augmenting process mining offerings through product enhancements, strategic partnerships, and acquisitions.
Both demand- and supply-side trends are covered in Avasant’s Intelligent Process Mining Platforms 2024 Market Insights™ and Intelligent Process Mining Platforms 2024 RadarView™, respectively. These reports present a comprehensive study of intelligent process mining platform providers and closely examine the market leaders, innovators, disruptors, and challengers in this space. They also provide a view of key market trends and developments impacting the applied AI services space.
Avasant evaluated 37 platform providers across three dimensions: product maturity, enterprise ecosystem, and future readiness. Of these 37 providers, we recognized 12 that brought the most value to the market over the past 18 months.
The report recognizes service providers in four categories:
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- Leaders: Celonis, Software AG, and SAP
- Innovators: Appian and IBM
- Disruptors: ABBYY, Apromore, QPR, and iGrafx
- Challengers: mindzie, Skan, and mpmX
Figure 1 below from the full report illustrates these categories:
“As generative AI rises, enterprises demand rapid insights into their operations,” said Anupam Govil, Avasant partner and digital practice lead. “To meet these expectations, process mining platform vendors are integrating generative AI across the value chain, enabling dynamic data capture and quick insights through natural language interface.”
The reports provide a number of findings, including the following:
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- Enterprises across diverse sectors are investing in process mining to enhance their operations and reduce costs.
- Providers are offering cognitive features across the value chain to enhance process understanding and visualization capabilities.
- The M&A spree in process mining continues with a focus on multicloud deployment, data intake, and workflow automation.
“Process mining platforms are evolving to encompass new use cases, including tracking sustainability metrics, 3D process visualizations, and intra-organizational performance benchmarking,” said Chandrika Dutt, associate research director with Avasant. “These advancements highlight process mining as a critical component in enterprise digital transformation.”
The Intelligent Process Mining Platforms 2024 RadarView™ features detailed profiles of 12 platform providers, along with an overview of their solutions, offerings, and experience in assisting enterprises in their process mining journey.
This Research Byte is a brief overview of the Intelligent Process Mining Platforms 2024 Market Insights™ and Intelligent Process Mining Platforms 2024 RadarView™ (click for pricing).