IconicC’s project approach is termed project impact analytics. It starts with premise that data-driven analytics needs eventually to make a business impact. Most firms seek improvement and change in four different segments and all have to drive profitability and revenue in some form:
As the technology is relatively new to the market, IconicC believes that customer understanding of process mining benefits and also challenges is a core delivery in the early phase of projects. Also, we want to make sure that at any step in the collaboration, the business focus of projects is visible to all parties. Therefore, we recommend to start with low hanging fruits to develop a common understanding how business objectives are connected to insights and actions driven by process mining.
Procurement and Supply Chain
World-class procurement is driven by process excellence in a transformation from cost reduction to value generation. Process mining provides a coordinated and technology enabled approach to access untapped value in procurement and the associated supply chain. IconicC has specialized on this section of business processes.
Many companies carry locked-in potential unquantified in their procurement processes. Discovery by the digital process twin leads most often to value from diagnostic insight. Typical business challenges are covered such as:
Checks for conformity like maverick spend
Performance KPIs like % of no touch POs
Cost reduction by decreasing discount losses
Check compliance status with segregation of duty
Capture automation potential with RPA
IconicC delivers process discovery and runs client’s improvement initiatives with leading process experts and data scientists specialized in procurement.
Proof of Value provides a first comprehensive understanding of process mining applying standardized systems to the purchase-to-pay process. The objective is to identify improvement projects with sound business case parameters for further action.
Potential further steps are
Digital diagnostics and improvement execution for identified cases.
Real-time Monitoring to ensure process excellence continuity.
Further Opportunity to increase automation with RPA technology or applying AI-based predictive analytics.