The lockdown required most companies to take quick action to secure liquidity. At the same time, new opportunities are opening up to raise process performance to a whole new level in terms of costs, speed, delivery reliability and capital commitment.
Process Analytics provides a new and highly innovative tool for this purpose. This digital approach - and this is the innovation - is based on the mass Big Data analysis of transaction data in the business processes that already exist in companies' ERP systems.
Process Analytics thus shows in a short time and with a high degree of accuracy where efficiency reserves are hidden and what specifically needs to be done to exploit them.
However, in order for this new approach to develop its potential, it is imperative that companies have close cooperation between business process, IT and process analytics experts.
One advantage of process analytics that is particularly noteworthy in the current "corona era" is that optimization teams can collaborate virtually, without face-to-face contact. The methodology is thus key to making sound, data-based decisions to improve performance.
"Traditional process analysis methods in consulting projects tie up considerable time as well as expert and management resources - disadvantages that no longer have to be accepted in times of fully automated processes. This is a decisive advantage over traditional approaches."
emphasizes Jonas Lünendonk, Managing Director of Lünendonk & Hossenfelder.
With process analytics, companies have the opportunity to visualize and understand the real processes running in the company within a very short time on the basis of transaction data end to end. With the increasing digitization of companies, a basis now exists for implementing rapid analyses.
However, many companies also use process analytics to significantly simplify processes that have often "grown" over time. For example, many S/4 Hana conversions are currently taking longer than planned, are running massively out of budget, or are even failing altogether.
One common reason is the mere transfer of an existing process world with all its unresolved problems into the new system. Michael Lukarsch, Managing Partner at Horn & Company, draws a fitting comparison:
"As with a private move to a new home, a prior 'clean out' and 'clean up' can make the transition much easier."
Process analytics can significantly reduce both capital expenditure and migration time.