Analytics Expands the Value of Business Process Automation Solutions
By ImageSource Team on September 23, 2021
Platform software is an investment that many organizations deploy to solve the most urgent business problem. This often encompasses mission-critical business applications.
Our Migration series covers how aging systems or solutions out of compliance with security policies make technology decisions critical. However, once the decision is made and the priority issues are resolved, the plans to expand the technology or utilize it for additional automation can take the back burner.
It takes leadership and strategic planning to grow without a liability staring you down. A great source of motivation to keep pushing forward is insights into your current business processes through reporting and analytics.
How can you reflect on the lasting value of your platform investment? Are you creating visibility to where your solutions are effective? Identifying bottlenecks or broken processes early? Making quick decisions for improvement?
Effective reporting provides Supervisors, Managers, and Executives with visibility into critical performance and overall efficiencies associated with doing business. Business process analytics utilizes various information mechanisms. Dashboards, bar graphs, pie charts, and traditional reports transform data into useful information to monitor performance. This value of real-time visibility helps identify:
- Process limitations
- Barriers
- Productivity issues
- Troublesome vendors
- Financial constraints
Analytics can also help take advantage of an opportunity by identifying positive outcomes and business efficiencies. For example, transaction processing times can be carefully tracked down to index, review, and approval of a loan package. If you are a competitive lender, it’s critical information to make process improvement decisions and a potential differentiator for your customers.
Many business process analysis software platforms make transforming data into useful information complicated and require the use of IT resources. Carly Fiorina, the former CEO of HP, has said, “the goal is to turn data into information, and information into insight.” Data by itself is useless without a consumable format for analysis. This means organizations can face delays as other efforts consume IT resources.
I recently worked on a project related to SQL reporting. All the output requirements were documented during the project, and the appropriate data was stored in a database. The bottleneck? Waiting on IT resources to turn that data into meaningful content.
Months went by before the reports were available. Some organizations buy generic reporting packages to lie on top of large data sources. This puts the burden of analytics on the LOB owner or the knowledge worker. Eventually, the burden of time and resources shifts to another department and increases the support requirements by adding yet another component.
Another thing we see is exporting information from the system of record to Excel or a similar application for analysis. This breaks the chain of custody of information the system of record was bought to address to begin with. Once your critical data is in a spreadsheet, it’s very hackable and easy to email to the wrong person.
ILINX Analytics takes out the complexity of creating reports and dashboards. First, the appropriate data source must be configured. Then, the point-and-click wizard provides a non-technical means for visualizing business processes throughout the organization. The ease of use enables business owners to generate consumable information creating significant value from various data sources.
ILINX Analytics is also part of a comprehensive business process automation software platform. Additional vendor relationships, support, and training models aren’t necessary. Your technology partner of choice expanding its solutions ultimately reduces costs and streamlines your mission-critical business applications.
We are here to help and guide you with your migration journey and if you have any questions regarding content migration, feel free to send us a message and one of our team members will get back to you.