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In the past few years, companies gained their first practical experiences in using Process Mining tools. In most cases, users confirm that these tools greatly reduce the time and effort required to analyze operational processes and identify optimization potential based on facts.

The last year has been packed with obstacles, as the global pandemic continues and regions across the world face economic difficulties. For many businesses, this poses a challenge because your Accounts Receivable department is pushing to collect more cash from a customer who is less willing to pay.

The order-to-cash (or O2C) process is the golden key to success in any business - the efficiency with which a product or service is converted into cash. As a cross-departmental business process, O2C encompasses the entire customer order journey from customer to delivery to invoice before finally ending in accounting.

Accounts Payable (AP) starts when an invoice is approved for payment, their responsibility is to process and review transactions between the company and its vendors and pay for invoices on time, and not pay for products and services it shouldn’t.

Procure to Pay processes, are an essential part of almost any business. The procure-to-pay process is the controlled and coordinated activity performed to fulfill a request for goods or services quickly and at a reasonable price. It involves a series of sequential steps performed in different departments.

Process Mining is a hot topic these days in many circles. Companies working on business process management, continuous improvement, procure to pay, and RPA are all interested in how Process Mining can help their organizations be more effective.

Process Mining is past the stage of only making companies smarter. It’s time to make them better by transforming data into insights and actions. In an ideal scenario a user shouldn’t have to leave the Process Mining application to act on insights but start measures inside the Process Mining application.

Auditors have a very tough job. They must search through all an organization’s transactions to find the specific cases where internal controls were not followed. Process Mining provides a new approach to gathering audit evidence by automatically analyzing the entire population of event logs recorded in a company’s IT system.

Recently, the sales and marketing teams of PAF took the PAFnow training. Now we want to share our experiences - because anyone can benefit from Process Mining!

With Process Mining there is an evolution from static to dynamic analysis and a revolution from analog to digital working.