Doculabs' Insights #8
A new, better way to learn about process mining, a policy guide for generative AI, and more.
Hot Process Fun in the Summertime
We are excited.
We were on a pre-summer break hiatus for the past month. In part, that was because we’ve been focused on a new educational platform for you that we are stoked about.
Process Mining IQ.
This will be a game-changer for every process mining professionals and enthusiasts who joins us.
It is a straightforward way to learn the ins and outs of why and HOW to use process mining tools, techniques, and strategies to maximize the business value of your processes.
You can pre-register today (27 days from launch as I type this) to receive a FREE introductory course on process mining. This course explains the basics of this powerful technique and its applications in various industries.
Stop guessing about how your business processes are performing.
At www.ProcessMiningIQ.com we’ll show you how to make data-driven decisions – BETTER decisions – for your business.
You can read the announcement here. I also explain all in this video:
· Process Mining Vs. Analytics (or Business Intelligence)?
· Breaking Technical Debt’s Vicious Cycle to Modernize Your Business
· The Doculabs’ Generative AI Policy Guide
· Business Automation Success: Process Mining at the Center
· Improve Finance and Accounting Operations With Automation Technologies
· AI Regulations and the Predictions of Doom
Process Mining Vs. Analytics (or Business Intelligence)?
We’re often asked by clients why process mining is needed if they already have business intelligence in place. The answer is that it’s not an either/or question. The smarter question is how you combine these two powerful toolsets to create the best results for your business. I wrote this to explain the different roles these tools play and provide insights based on our work with clients. Read more about why you need both. https://www.doculabs.com/post/process-mining-vs-analytics-or-business-intelligence
Breaking Technical Debt’s Vicious Cycle to Modernize Your Business
How do you overcome your IT sins of the past? McKinsey suggests ideas for breaking this technology “tax” that’s preventing your digital transformation efforts from shining:
While many companies understand the importance of technology in meeting their strategic goals, the silent killer of technology modernization efforts—technical debt—often stands in their way. Technical debt is basically the “tax” a company pays on any development to redress existing technology issues, and it accounts for about 40 percent of IT balance sheets, according to our research. Learn more.
The Doculabs’ Generative AI Policy Guide
A generative AI policy is essential for companies to tackle the challenges related to AI-generated content. By establishing clear guidelines, companies can ensure the accuracy and reliability of information while mitigating the risks of misinformation and bias. A well-defined generative AI policy helps companies maintain trust, adhere to ethical standards, and navigate the complex landscape of AI-powered information generation. Grab your copy (free) here.
Business Automation Success: Process Mining at the Center
Up to 50% of RPA implementations fail. Why? Often because the tool is used to target the wrong business processes. As with all process automation software ever created, automating the wrong process faster isn’t helpful. Enter process mining. This article from Celonis opens with a statement I agree with, “Process mining is necessary for automation and business transformation efforts to drive lasting impact and real value.” Learn why process mining is the center of automation and how process mining and RPA should work together. Read more.
Improve Finance and Accounting Operations With Automation Technologies
Vendors in the Capture & IDP space have been focused on automating AP processes for decades. Despite these efforts, research indicates that only a small percentage of finance processes are completely automated. With improved machine learning and other AI tools, the recognition capabilities of this software continues to improve, offering the chance for automating a larger percentage of accounting tasks.
This article provides a good overview of five main benefits of automating financial processes. Read more.
AI Regulations and the Predictions of Doom
Matt Mullen of Deep Analysis has a few thoughts about the over-zealous predictions of AI doom.
“Over-reactions to technology stories that gain mainstream traction are not unusual (nor is the desire to grift for personal benefit from the event, sadly), but what sets this cycle apart is the relative accessibility of the technology coupled with the extreme nature of the reaction.” Read more.
EVENTS
Intelligent Automation Week
June 19 -21
Chicago, IL
The intelligent automation space has evolved significantly over the years. It’s been quickly adopted and implemented into such areas as HR, procurement, GBS, shared services, call centers, marketing, sales, and much more. Intelligent automation has offered various lines of business enhanced process efficiency, accuracy, and speed – as well as impactful business insight and revenue generating opportunities. Attend and learn how your organization can deliver enhanced business value across the enterprise.
More information and register here.
Celonis World Tour 2023
This “process mining roadshow” will be held in 10 cities with one mission: rapid cash impact. The event will focus on:
Freeing up cash hidden in your business
Taking your company performance to new levels
Delighting customers at a time when they need it most
Multiple dates and locations around the world. Join Celonis and hear from companies who have used #processmining to create cash impact in their organizations. Check here for dates and the city nearest you!
Finance Transformation Digital Summit 2023
August 8 – 9
Online
The finance department can be a growth catalyst with the right approach. Topics for this event include:
Positioning your finance team as a growth catalyst for the organization
ERP Transformation: Quick wins and what not to do
Embedding resilience into your finance processes through digitization
What Makes A Great Modern Finance Leader?
5 key capabilities finance must build in order to future-proof themselves
More information. https://www.ssonetwork.com/events-finance-transformation-digital-summit
International Conference on Process Mining
October 23 – 27
Rome, Italy
ICPM has established itself as the premiere event where process mining vendors, consultants, customers, end-users, and scientists can meet, exchange ideas, and push the boundaries of the field. https://icpmconference.org/2023/
Just for Fun
Photo Credits
Mount Doom from https://www.snorgtees.com/mount-doom-national-park