Well documented business processes is one indication of healthy business process management. Another one is process compliance, meaning full conformance of implemented processes to process models. Business processes should be implemented and executed according to the agreed policies, keeping in mind stakeholder and regulatory requirements. But even a compliant process may not execute as intended.
The focus on corporate governance, compliance, and reporting not only continues worldwide, but has intensified, with increased accountability. In addition, the increasing pace of data generation calls for more powerful analysis tools.
Process mining for process compliance
Process mining enables unbiased, fact-based operational audit and compliance checking. At its core is improved reliability and efficiency of audits. The main tasks are 1) process discovery, whereby event logs are used as a basis for generating an as-is process model, and 2) process conformance checking that compares the event-log-based as-is model to the as-designed process model.
Applications and benefits include:
- Improve the efficiency, coverage, and quality of audits
- Detect compliance issues for example in procurement, accounts payable, or accounts receivable processes
- Highlight deviations from accounting standards
- Benchmark process execution
- Identify Segregation of Duties (SoD) conflicts, e.g. in Order-to-Cash (O2C) or Purchase-to-Pay (P2P) areas
- Apply AI-powered root cause analysis to suppress exceptions and violations to mitigate business risk, proliferate best practices, and reduce compliance costs
- Streamline approval processes
- Uncover bottlenecks to increase process speed and cut costs
Ready to get started?
Chat with us, call/email us, or come over for a visit! We’d love to hear about your needs and share more examples of how our customers have tackled compliance issues using process mining.
- Watch our webinar on Conformance Analysis
- Read a blog post on the subject, or get a better understanding of process mining in general
- Process Mining for Order-to-Cash webinar
- Process Mining for Purchase-to-Pay webinar