Acquisition brings patent-pending technology to speed process discovery, delivering faster results for operational excellence, digital transformation, and regulatory compliance initiatives.
Today, at the OPEX Week Business Transformation World Summit 2022 Event, iGrafx, a worldwide leader in digital business transformation and process management, announces the acquisition of the process mining specialist Logpickr, based in Rennes, France. Logpickr is known for its patent-pending Process Explorer 360 solution for next generation process mining. With this acquisition, iGrafx expands on its comprehensive approach to process improvement, ensuring organizations focused on operational excellence, regulatory compliance, or digital transformation initiatives can improve process, speed automation decisions, and increase their bottom line.
Through the application of machine learning and artificial intelligence, Process Explorer 360 inspects existing systems to reveal process reality, versus process assumptions in real business operations. According to Accenture, 88 percent of companies that implemented machine learning in business processes witnessed a 200 percent improvement.1
“Process improvement only happens once a process is completely understood, and while the analysis phase is the most critical, it is the phase given the fewest resources,” said Alan Pelz-Sharpe, Founder and Principal Analyst at Deep Analysis. “Process mining adds tremendous value to process improvement, but it’s only one piece of the puzzle. What iGrafx is doing with the acquisition of Logpickr is completing the picture by adding process mining alongside their proven modeling, discovery, and mapping solutions to provide a complete process improvement vision and to accelerate the work of today’s business analyst.”
Traditional mining solutions work well for simple, linear processes but fall short when it comes to the combination of concurrent and multi-system events. This is problematic because it requires an organization to have greater technical skills to understand what has been mined, and potentially causes organizations to waste time analyzing false variants.
“At iGrafx we wanted to go beyond offering the conventional process mining approach,” said Teesee Murray, CEO of iGrafx. “Our customers are tired of the complexity and intense resources required by other mining solutions, but they know it’s necessary to create the right knowledge foundation for their key compliance and transformation projects. Logpickr has designed unique differentiators to speed the process of mining. We are thrilled to welcome the highly skilled Logpickr team and the opportunity to bring further innovation to the world of process improvement.”
Business analysts will benefit from the iGrafx holistic approach to process improvement resulting in more accurate process design inputs for better automation decisions. For example, the iGrafx award-winning Business Transformation Platform united with the Process Explorer 360 solution ensures data and key performance indicators (KPIs) are aligned and tied into an operational view in the repository. This ensures a true 360-degree view of the process. By using a scientific method to identify the value of automating a process, analysts can start automation with a true business case ensuing better outcomes.
Process Explorer 360 Delivers the Following Advantages for Process Mining:
- With concurrent event analysis, the potential for false variants is eliminated and ensures users focus on actual variants for faster insights.
- The solution reduces the need for analyst resources and comes complete with a connector module to over 100 popular systems with integrations done via simple low-code integrations.
- The solution can process large amounts of data in real-time at massive scale. This ensures companies with large datasets or high transaction volumes now have the insights they need to make the right decisions for process improvement.
“Our mission at Logpickr was to create process mining technology that delivers faster and more accurate results at scale,” said Fabrice Baranski, CEO, and founder of Logpickr. “When we shared our technology with iGrafx, they ran the solution through several critical tests and criteria and were impressed with the results. Not only did they see that our Process Explorer 360 delivers key mining advantages but by combining our solution with the iGrafx platform, customers will be pleasantly surprised at how straightforward it is to integrate mining into their everyday process activities.”
iGrafx will incorporate Process Explorer 360 into their business process management (BPM) platform and accelerate product enhancements to benefit the iGrafx growing global customer base.
“We have had the pleasure of getting to know the Logpickr team over several years and were impressed by their expertise, and the world-class process mining technology they have built,” said Hugh Kirkpatrick, Vice President at Banneker Partners and Board Member of iGrafx. “We know an integrated process mining solution will add tremendous value for our customers and we look forward to continuing to invest in exciting new products and technologies that will improve an organization’s ability to improve performance, deploy automation and stay compliant.”
The acquisition is effective immediately. iGrafx delivers BPM solutions to the largest companies in the world, particularly those in heavily regulated markets where process management and compliance are critical functions. More information about the Logpickr acquisition can be found at igrafx.com or at booth number 21 at the OPEX Week World Summit 2022 event located at the Hilton Hotel in Downtown Miami, Florida.
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