Tag: Service Optimization Technologies

Process Mining Market More Than Doubles in Revenue and Client Base in 2019—Everest Group | Press Release

Process mining—which is the technique of using software to discover and map business processes in order to optimize and automate them—is an emerging market for service providers, growing at around 140-160% from 2018 to 2019 to reach US$230-US$250 million, according to Everest Group. The process mining vendor market witnessed a doubling in the client base from 2018-2019, indicating increasing adoption among enterprises.

Process mining blends the power of data-based analysis techniques, such as data mining and machine learning, to help organizations discover the as-is process along with its variants and identify opportunities for optimization and automation. Process mining technology can be categorized as follows:

  • Classic process mining technology leverages specialized algorithms to examine and analyze process-related information captured in event logs generated by enterprise systems such as ERP, CRM, and SCM to discover processes and generate process maps.
  • Desktop Process Mining (DPM) refers to the ability to capture user’s keyboard, mouse and potentially other system-level activities performed simultaneously on various desktops to virtually reconstruct the processes and generate process maps.

Process mining can play a key role in the success of an organization’s process optimization and digital transformation journey. However, the associated technologies are not only relatively new to many potential buyers but also rapidly evolving in terms of product features, deployment options, training and support, partner ecosystem, and commercial models.

Currently over 85% of the revenue generated in the process mining market comes from software licenses, with most vendors offering cloud-based access. Continental Europe holds the lion’s share of the market (50%) while North America accounted for the highest growth rate in revenues in 2019 (nearly 200%). Manufacturing; banking, financial services, and insurance (BFSI); and the telecom industries are among the leading adopters of process mining solutions.

Everest Group expects adoption of process mining to maintain high-growth momentum driven by the need to accelerate automation initiatives and as more enterprises become aware of the benefits of the technology, which include identifying process optimization and automation opportunities, improving process governance and compliance, and enhanced employee experience through better resource allocation.

These findings are discussed in more detail in Everest Group’s recently published report “Process Mining State of the Market Report 2020.” The report includes a detailed view of the current state of the market and analyzes it across various dimensions, including market size and adoption trends, buyer satisfaction, product capabilities and trends, solution characteristics, vendor landscape, challenges to process mining adoption, and the outlook for 2020-21.

“The process mining market has seen exponential growth over the last few years and is expected to continue the momentum in the future,” said Amardeep Modi, practice director of Everest Group. “The COVID-19 crisis is likely to temper the growth of the process mining market in the short term, especially in the manufacturing industry, but the market is expected to pick up toward the end of 2020 as the demand for automation and process optimization begins to surge.”

Overview of the Process Mining Vendor Landscape

  • Celonis, Software AG, and Minit are the top vendors in terms of process mining license revenue. ABBYY Timeline (formerly TimelinePI) has experienced the highest year-over-year growth in revenue.
  • Celonis dominates the process mining software market, accounting for over 60% market share, and has the largest client base spread across small, mid-size and large enterprise segments.
  • The process mining market has expanded beyond Europe and North America to emerging geographies such as Asia Pacific (APAC) and Latin America (LATAM). Localized vendors in these regions, such as Puzzle Data (APAC) and Everflow (LATAM), have started competing with the relatively more established process mining vendors.

***Download a complimentary abstract of the report***

About Everest Group
Everest Group is a consulting and research firm focused on strategic IT, business services, engineering services, and sourcing. Our clients include leading global enterprises, service providers, and investors. Through our research-informed insights and deep experience, we guide clients in their journeys to achieve heightened operational and financial performance, accelerated value delivery, and high-impact business outcomes. Details and in-depth content are available at http://www.everestgrp.com/.

The UK’s Perfect Storm: Brexit, EU Workers Returning Home, IR35 Changes, and Coronavirus | Blog

Businesses in the UK are facing a spate of challenges; there’s the specter of new Brexit-driven red tape on trade, a staffing shortage as some EU workers are returning to their home countries, and UK changes to the IR35 contract worker tax legislation, which is making it very difficult for companies to hire contractors. A Coronavirus pandemic could be the final straw that breaks businesses’ backs. Let’s face it – there is a perfect storm ahead.

With Brexit and the EU trade negotiations still going on, there is little certainty about the red tape that businesses will face in order to trade with each other across the English Channel. Yet, with the transition period set to end on 31 December 2020, there is little time for businesses to prepare for whatever the new trade requirements may ultimately be.

Because adherence to the as yet unclear regulations will increase businesses’ workloads, a natural response would be to hire more staff. But unemployment is at record low, and many skilled EU workers are leaving the UK and returning to their home countries. Furthermore, the UK Office of National Statistics (ONS) reports that EU immigration to the UK is at an all-time low.

The HMRC’s new IR35 rules, which come into effect in April 2020, are exacerbating the problem. Many companies have had to adopt no-contractor hiring policies and cannot fill temporary vacancies. They are already feeling the impact of the regulation. If they can’t hire staff or contractors, where are companies going to find resources to handle the extra workload of trade red tape?

Additionally, widespread cases of the Coronavirus could lead to prolonged periods of sick leave, further reducing the number of staff who are available to help with the increased workload of trading with the EU. While cases are still far and few between in the UK, the impact of the spread of the disease in China has been great. Empty offices and factories in Chinese cities and manufacturing heartlands are already leading to a shortage of parts for cars and other products that are much in demand in the UK.

Clearly, UK businesses are facing a perfect storm.

Investing in digital and Intelligent Automation (IA) technologies can help them tackle some red tape issues, particularly if they use IA for what I call Red Tape Automation (RTA). This could be automation of compliance form-filling and reporting requirements, weights and measure conversions, or making changes to transaction or product-related data and synchronizing them across multiple systems such as those used for sales and revenue to record value added taxes and other duties. Companies that trade with both EU and non-EU countries could automate the red tape for all of those, using rules engines to fill in the right forms and apply the correct rates.

IA is not a perfect solution, as people will be needed to implement technology, and there is a growing talent shortage. Nonetheless, UK businesses will be well served by investing in learning the art of the possible with IA. While the final details of any trade deals with the EU, or new deals with the rest of the world, will not be known for a while, knowing how to implement the requirements quickly using IA can help them weather the impending storm.

For more information about IA, please check out Everest Group’s Service Optimization Technologies research.

Visit our COVID-19 resource center to access all our COVD-19 related insights.

Sarah Burnett, Service Optimization Technology and RPA Expert, Promoted to Executive VP of Everest Group | Press Release

SOT business doubles under Burnett’s leadership, delivering strategies for deployment of disruptive technologies such as RPA, analytics, AI in the global services industry

Sarah Burnett—who has been named one of 50 most influential women in UK IT by Computer Weekly in 2016, 2017 and 2018; was shortlisted for AI-leader of the year by Information Age in 2018; and was deemed an outsourcing A-lister by the Global Sourcing Association in 2016/2017—has been elevated to the position of executive vice president and distinguished analyst at Everest Group, the global sourcing research and advisory firm where she has served as vice president for the past 4 years.

Burnett, a well-known industry analyst and market influencer, now leads the firm’s Service Optimization Technologies (SOT) research program globally. As part of this role, she researches and advises clients on automation technologies, such as Robotic Process Automation (RPA), Artificial Intelligence (AI), and global service providers’ capabilities in the field. Based in London, she also serves European clients across Everest Group’s research areas.

In the past six months alone, Everest Group’s team of analysts devoted to the SOT practice has doubled and has presented their expertise and findings at more than 20 events around the world. In addition, the team has published a dozen reports including technology assessments, best practice guides, and market analyses, such as the recently released RPA Technology Vendor Landscape with Products PEAK Matrix™ Assessment 2018. Coverage of these disruptive technologies and related technologies will continue to expand as more team members join in the coming months.

“Everest Group is extremely fortunate to have Sarah Burnett at the helm of one of our fastest growing research and advisory areas,” said Eric Simonson, managing partner at Everest Group. “Her expertise in automation is recognized and valued around the globe, and under her leadership, our firm has established a preeminent reputation in the field based on the quality of our research, the impact of our thought leadership, and the caliber of clients we serve.”

Everest Group Expands Research Practice to Meet Rising Demand for In-depth Insights to Navigate Political Uncertainty, Changing Technology | Press Release

Global Sourcing executives demand fact-based analyses to remain competitive in environment of rapidly evolving business models for IT, Business Services and Sourcing

Everest Group, a consulting and research firm focused on strategic IT, business services and sourcing, is expanding its research practice in response to increased demand for services in the wake of rising political and technological uncertainty and change. To date, the expansion features office and staffing additions; three new research offerings; and a major redesign of the firm’s digital service platform.

Staff Additions

In 2016, Everest Group has opened a new office in Bangalore, moved to larger offices in Delhi, and expanded its research staff by 26 percent, including the addition of five senior-level practitioners to its leadership team:

  • Patricia Blair, vice president, Digital Strategies, manages the digital business operations for Everest Group, which includes delivering exemplary user experiences via the firm’s digital properties. Most recently, she was with Fossil Group.
  • Gunjan Gupta, practice director, Information Technology Services, is a leader in Everest Group’s Application & Digital Services subscription offering, driving syndicated as well as custom research. Prior to joining Everest Group, Gupta was with CEB.
  • Julian Herbert, vice president, Information Products, provides leadership to Everest Group’s subscription and custom research and leads the firm’s benchmarking offerings in Europe. Herbert most recently ran a business that tracked large construction, infrastructure and oil and gas projects.
  • Anil Vijayan, practice director, Business Process Services, is a leader in Everest Group’s HR Outsourcing (HRO), Recruitment Process Outsourcing (RPO) and Managed Service Provider (MSP) offerings. Prior to joining Everest Group, Vijayan was with Ernst & Young.
  • Megan Weis, vice president, Business Process Services, heads local market efforts in North America, providing leadership in the delivery of custom projects and syndicated research. Weis was with Accenture before joining Everest Group.

New Research Offerings

Everest Group’s research practice continually tracks 200+ global cities, 150 service providers and 44 sourcing functions across Business Process Services and Information Technology Services. In the past year alone Everest Group has released 40 PEAK Matrix reports—highly anticipated assessments of the relative market success and overall capability of service providers based on Performance, Experiences, Ability and Knowledge—and hundreds of other research reports. To this rich research portfolio, Everest Group added three new offerings in 2016:

  • Service Optimization Technologies: analyzes service optimization technologies and their impact on the global services market. Technologies covered include those that have the potential to significantly enhance or augment services and/or disrupt the market. Examples include analytics, the Internet of Things (IoT) and Service Delivery Automation (SDA), including both robotic and smart process automation.
  • Healthcare & Life Sciences BPO: comprehensively analyzes the key dynamics of the high-growth healthcare market, focusing on the business processes specific to these industries.
  • IT Services Forecaster™: examines industry growth trends and compares performance among major IT services providers. In partnership with DeepDive Equity Research, Everest Group has developed a systematic methodology to conduct extensive analysis of true growth (organic, constant currency) across 19 IT services market segments.

Enhanced Digital Services

With a treasury of original research, thought leadership and case studies to offer, Everest Group embarked on a website redesign project in 2016 to make relevant data easily accessible and actionable in just a few clicks. The new website and reports portal design, launched in September, features a powerful search function, viewing features and collaboration tools.

Business leaders and sourcing executives today are sailing on turbulent seas and are in dire need of sound data and analysis to help them find their way,” said Eric Simonson, managing partner, Research, Everest Group. “This has been a banner year for our research practice at Everest Group, not only in terms of delivering the fact-based research and analysis our clients need to support their critical decision-making processes, but also in terms of proactively expanding what we have to offer—our research offerings, digital access to our data and insights, and, most importantly, the talented team that makes it all possible.

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