Latest acquisition will enhance the value of QAD’s product suite with machine learning and artificial intelligence based process mining
QAD Inc., a leading provider of next-generation manufacturing and supply chain solutions in the cloud, has closed the acquisition of Livejourney, an innovative provider of a real-time and predictive flow (process mining and process monitoring) solution designed to discover, monitor and improve business processes.
Manufacturers worldwide are challenged with an increasingly complex and dynamic environment to conduct business. Process mining and monitoring offer promise to deliver critical insights for success. Recent Gartner® research stated that “process mining delivers insights that enable faster, smarter decisions and stronger performance on an organization’s most critical priorities.”1
The addition of Livejourney’s process intelligence product brings an exciting element to the QAD Adaptive Applications suite that will allow QAD customers to obtain critical insights on how their processes in manufacturing, supply chain and general enterprise operations are actually flowing and performing.
“We are pleased to bring Livejourney into the QAD family,” said QAD CEO Anton Chilton. “We see process mining and monitoring as rapidly maturing capabilities which can offer tremendous value to our clients. By building tight integrations and recurring use cases between Livejourney and all of our QAD solutions we believe we can help to make process intelligence more readily accessible and efficient.”
“The Livejourney team is excited about joining QAD and the new opportunities this creates to develop new applications in AI, machine learning and data sciences,” said Livejourney CEO Simon Pioche. “With QAD, we have found in each other a common vision for the application of process intelligence that will move this capability forward for all of our respective customers.”
QAD Process Intelligence will provide customers with rapid time-to-benefit by building common use cases across QAD Adaptive Applications powered by capabilities from Livejourney. Clients will then have access to six key elements that can be iterated to provide the backbone for data-driven continuous improvement and value creation:
- Visualization of how processes are actually running in the enterprise
- Real-time control tower that alerts users to process deviations
- Root cause analysis tool over these deviations
- Identification of automation opportunities
- Simulation of future process paths using predictive analyses
- Measurement of ROI and performance benefits of process changes
“We believe that the Livejourney capabilities will help our clients to become adaptive enterprises by better understanding how processes are actually operating, where there are process deviations, what the opportunities are for improvement and then the real-time monitoring of processes going forward,” said QAD Chief Product Officer Charles Sutherland.
Visit AITechPark for cutting-edge Tech Trends around AI, ML, Cybersecurity, along with AITech News, and timely updates from industry professionals!