To improve your ReadSoft solution, you must have clear insights into the Invoice-to-pay process, be able to analyze the data, and make objective decisions. Process Mining can help you maximizing efficiency and reduce the number of ‘touches’.
Today, ReadSoft is the most chosen capture solution worldwide. The software is aimed at automatic scanning, recognition, and processing of invoices. After capturing and recognizing the invoice information, ReadSoft sends the data to the workflow or ERP system. The system can then further process the data itself. The solution helps to reduce most of the manual work.
Unfortunately, users can encounter several issues and complexities in the process. At most companies, further adequate optimization is required to reduce the number of ‘touches,’ increase efficiency and improve the automation rate. That is why clear information about the business, processes, users, and system is necessary to develop a business case, detect low hanging fruit and deliver efficient solutions.
ReadSoft Plug-and-Mine package
We developed the Plug and Mine package to discover, monitor, and improve the different activities. This is done by extracting data from ReadSoft Invoices and the SAP environment of Process Director. The connector is deployable with ease and was developed to ‘Plug and play’ on your ReadSoft environment. The instant actionable insights are a key driver in making intelligent improvements, where every decision can be based on data, not on opinions. The package includes typical and best practice invoice-to-pay reports and KPI’s. All ReadSoft data can be filtered instantly to slice and dice or enable drill down to detailed invoice information. The standard Plug and Mine package includes analysis on invoice and workflow cycle times, users, suppliers, PO versus non-PO invoicing, companies, business units, payment terms, payment behavior, invoice channel analysis (e.g., Email, XML), suspected duplicate payments detection and much more. It gives process owners, analysts, and business users, the power to understand the processes they work on in detail, without the need for expert-level data analysis knowledge.
Process Mining will enable ReadSoft users to map the full Invoice-to-Pay process based on real-time data automatically. Classic process mapping is an idea from the past. Process Mining automatically maps your process and calculates all the necessary info! The Plug and Mine package will give you an instant representation of all the users’ activities, possibilities to eliminate waste, and automation opportunities. In short, this know-how about your Accounts Payable process supports you in creating a frictionless future for your Finance department.
Our Process Mining Approach
How to start optimizing with Process Mining? The process improvement funnel reflects our approach. A process mining assessment and optimization project starts with an assessment phase where we discover the full process, ‘slice and dice’ the data, check KPI’s and gain actionable insights. Before we automate, we first eliminate “waste”, standardize and optimize processes.
Why customers choose Minit Process Mining software?
Microsofts Process Mining software helps businesses transform the way they analyze, monitor, and optimize their processes. The application is very intuitive to work with and has an unbeatable ROI by creating value from day one. The application delivers an excellent user experience through intuitively turning data into functional process maps and insights. And most importantly, all features and functionalities are built for tangible results with robust security. The deployment is short, and implementation can be done in days, not months. There is also a swift onboarding process with hands-on learning, online or on-site.
The processes in scope of the package are the ReadSoft PD/AP Invoice-to-Pay Process (from invoice creation to clearing) and ReadSoft Workcycle (invoice workflow). It is essential to know that the scope can be further extended to other processes in your company. Easily scalable to other data sources, systems, processes, and more users.
What is included in the package?
The package includes the Minit Enterprise edition that provides complete Minit process intelligence functionality, including multiuser collaboration like project sharing among users. Additionally, it enables Minit Dashboards as the BI/reporting platform. The available Process Mining suite has been built with the enterprise in mind, covering all Data Analysts and Business Stakeholders’ needs.
Minit Analyst is the bridge between the data and the organization and is available to Process Analyst users. Dashboards are a functional interpretation of the data available for the Business users (e.g., approvers) to get actionable process insights.
At OptiMinds, we ensure our customers can work with best practices and state of the art applications like the Plug and Mine package to ensure maximum effectiveness and efficiency. If you would like to know more about Process Mining, how it can help you understand your processes and workflows, allowing you to reap all the benefits of automating them, please do not hesitate to contact us.