Record year for better processes
Process Mining specialist PAF triples sales
- Growth through new and existing customers such as Delivery Hero as well as consulting companies such as PwC as a certified partner
- Innovative real-time optimization via software plug-in
- Leading position in research projects related to Process Mining
Darmstadt, Feburary 19, 2019 The still young market for Process Mining is growing significantly. For example, “Research and Markets” forecasts a growth in the global market volume for process analytics of approximately 50 percent annually to approximately $ 1.5 billion by 2023*. The German market is currently characterized by a few relevant players. These include the Process Analytics Factory GmbH, a global provider of process optimization.
2018 was the most successful business year ever for the company, setting a sales record. Revenues from the licensing and project business tripled to and lie in the seven-digit range. Operating income even increased tenfold. The growth success was achieved by licensing income and projects with the in-house plugin PAFnow, which is based on Microsoft Power BI. This allows for actively analyzing, visualizing and optimizing business processes in data-intensive areas such as controlling, production, marketing or sales of any workstation equipped with Microsoft Office 365 – out of the working environment – in one step.
Customer diversity: From global corporation to hidden champion
National and international existing customers include, for example, packaging specialist Constantia Flexibles and one of the world’s leading science and technology companies in Healthcare, Life Science and Performance Materials. In addition, in 2018, PAF was able to win numerous new customers from various industries, including the digital company Delivery Hero, the innovation and world market leader in testing, measuring and weighing technology HBM, hidden champions such as Maschinenfabrik Berthold Hermle AG, the mobility and system partner BPW and listed companies such as Leifheit AG. In addition, over the past few months, PAF has significantly expanded its international network of certified PAFnow consultants in consulting firms such as PwC or Horn & Company.
Companies use the various modules of the PAFnow plug-in wherever process data is generated, for example for analyzing and optimizing energy-related processes and SAP®-based purchase and invoice-to-pay processes in purchasing and controlling, but also for more efficient production and marketing.
Pole position in the growth market Process Mining
Process Mining has proven to be a fundamental method in virtually all industries. However, when it comes to the concrete application of innovation technology, companies active in the German Process Mining market differ: “Compared to some competitors, we do not rely on excessive growth. As a self-financed company, we do not have to. We have a sustainable and content-driven approach. This is where our research commitment to Process Mining comes in. Industry-wide this scope is certainly unique. In addition, our real-time approach convinces many customers. With the PAFnow plugin Process Mining runs immediately, in the familiar working environment and for every employee – so to speak democratically. And, what may sound surprising, it’s really fun to work with our tools,“ says Tobias Rother, Founder and Managing Director of PAF.
Now or Never: optimization in real time
By presenting the latest Process Mining generation of the PAFnow plug-in, PAF was able to expand its range in 2018 in a strategically important position: the direct implementation of improvements. “So far, it has hardly been possible for companies to independently derive useful conclusions and effective measures from process analyzes. That’s why we have extended Process Mining with automated, AI-based and easy-to-implement methods. Who needs expensive data scientists?” says Timo Nolle, CTO at PAF.
This is one of the key strengths of PAFnow: It can not only survey the collected process data of a company, but also automatically identify the causes of process problems and fix them immediately. Business process inefficiencies and problems can be detected and resolved faster than using conventional process-mining approaches based on downstream analysis.
From AI to Blockchain: innovation research with renowned partners
With the research area PAFnext, PAF promotes the practice-oriented research and development of innovative technologies in the fields of artificial process intelligence and Process Mining. The PAF prototypes in the fields of artificial intelligence, predictive analytics, industry 4.0, blockchain and robotic process automation (RPA) will then become compatible software solutions. In 2018, the PAF launched two more BMBF-funded research projects: “KI.RPA” for Robotic Process Automation via AI and “ProcessChain” for the use of Blockchain and Smart Contracts. With now a total of five projects funded by the BMBF and the state of Hesse, the PAF holds an international leading position in innovation research in the Process Mining market.
Grow smart: Ambitious growth targets with a sense of proportion
In addition to the transfer of prototypes from innovation research in PAFnow and the expansion of PAFnow Content Packs, PAF is currently focusing on the further development of KI technologies for the Microsoft Office 365 digital workstation. In this combination of years of process-mining project experience and innovation research, PAF sees itself in the advantage over other providers. “Since last year, we’ve doubled our workforce, tripled our sales and increased our operating profit tenfold. We are on the path of success and growth. But not at any price. In addition to many years of practical experience and innovative research, we build on trusting and long-term customer and partner relationships – and not on short-term profits,” explains Boris Cordes, PAF’s Chief Business Development Officer. “The steadily growing international partner network with more than 100 certified PAFnow consultants motivates us to further democratize Process Mining. We want to enable business partners of all sizes to leverage this promising technology and provide more direction for all employees working with business processes,” continued Cordes.