Process Mining Builds On Process Mapping With Data for Greater Procurement Efficiency

Even post-pandemic, chief procurement officers (CPOs) are still dealing with shortages, long lead times, and inflation. At the same time, businesses are mandating cost reductions (or at minimum, cost containment). Suppliers are having similar challenges. So, if you can’t ask suppliers to reduce the price for incoming goods and services, what can you do?

Transforming business processes is the next frontier of savings opportunities for CPOs. Process mining is a great enabler to provide insights needed to transform processes. It can identify opportunities faster, more accurately, and more comprehensively than tools used in the past. I’ll go into more detail on how process mining works below, but first its important to understand the difference between process mapping and process mining.

Continue reading on Acceleration Economy.