In the age of automation, companies are constantly searching for ways to improve their business operations and streamline their processes. One of the ways to achieve this is through the use of Process Intelligence software. This technology gives Businesses Analytics about their strategies operated by humans and implemented in IT systems. Companies can improve their performance and efficiency by analyzing and optimizing these processes.
Forrester’s recent Process Intelligence Software Landscape report highlights the growth of this market and the importance of this technology. The report defines the software as products that provide analytics about an organization’s processes and enable decision-making on improving process performance. It mainly relies on task- and process-mining capabilities but is not limited to them.
There are three primary trends to watch in this market. First, process and task mining converge. This means that most process-mining vendors have added task-mining capabilities and vice versa. By blending these technologies, companies can gain a more holistic view of their process operations.
Second, time to value remains a challenge for many organizations. This is due to the need for process data analytics skills, cross-departmental collaboration, and software configuration. However, the benefits of Process Intelligence make it a worthwhile investment for those willing to overcome these challenges.
Third, automation software vendors are now dominant players in the market. This is due to their acquisition of Process Intelligence capabilities through partnerships, acquisitions, or native development. This trend highlights the importance of the technology in scaling automation beyond tasks toward end-to-end process automation.
The market for Process Intelligence has grown significantly over the past few decades. Forrester’s report highlights minimal but mature vendors and prominent and equally mature vendors. The information excluded a subset of small vendors whose Process Intelligence revenue was below $5 million, but they are still notable in the market. Many of these small vendors are selected by large enterprises as valid vendors and deliver as such.
Process Intelligence is essential for businesses looking to streamline their operations and improve their performance. The market for Process Intelligence has grown significantly, with many vendors providing various capabilities to meet different business needs. While challenges remain, the benefits of the technology make it a worthwhile investment for companies looking to stay ahead in a rapidly changing business environment.