Overview
iGrafx is a leader in process intelligence and digital transformation. iGrafx uses machine learning, AI, predictive analytics and process mining to help companies discover, design and optimize their critical business processes. iGrafx is committed to enabling organizations in the Financial Services, Healthcare, Insurance and Manufacturing industries to leverage real-time insights to achieve operational excellence, ensure compliance with industry regulations, improve the customer experience, and reduce costs.
Supernova Award Category
Data to Decisions
The Problem
The problem for organizations has been the lack of transparency into business-critical operations and processes. Without the ability to understand how processes are being executed, organizations have struggled to design gold standard future processes and make continuous process improvements that support the bottom line. iGrafx offers an all-in-one platform that encompasses Process Mining, Process Modeling and Simulation. Organizations now have 100% visibility into their operations, ensuring successful digital transformation initiatives.
The Solution
As a leader in SaaS process intelligence, iGrafx has developed a groundbreaking Process Mining solution designed to revolutionize business process management. This innovative technology excels in leveraging comprehensive company data, even within highly fragmented environments, to deliver precise insights into process performance. What sets our solution apart is its dual capability to provide prescriptive and predictive analysis, enabling businesses to optimize their future outcomes effectively. By combining the iGrafx Process Mining solution with Process Design and Simulation capabilities, we offer our customers a complete end-to-end process intelligence platform that helps organizations improve productivity, reduce costs and ensure compliance with internal policies and external regulations.
The results
Process360 Live sets a new standard for process management with the introduction of real-time process intelligence through Process Mining. In a rapidly evolving business landscape, Process360 Live helps organizations become more proactive in their respective industries with the ability to use data-driven insights to make strategic business decisions. It allows companies to align process with strategy, helping reduce costs, enable compliance, improve the customer experience and drive operational excellence across the business. This is what iGrafx clients value and represents the future of business process management.
Metrics
iGrafx has achieved year-over-year revenue growth of 32% and a 16% growth in new customer acquisition.
Based on iGrafx customer reviews, the company achieved a 98% “willingness to recommend” rating.
Testimonials:
Cox Communications: “1500% ROI in 90 days”
Denso Automotive: “Now we have compliance and key figures for everything.”
B.Braun: “iGrafx gives us greater process monitoring and control.”
The Technology
Traditional process mining systems typically focus on a singular timestamp for each activity, indicating when the activity is completed. The iGrafx Process Mining algorithm is based on two-time stamps: the beginning and the end of an activity. What sets the novel algorithm apart is its ingenious ability to capture the two temporal dimensions for each task: the initiation and the conclusion. This dual timestamp enables a far more granular and comprehensive analysis of activity durations.
Disruptive Factor
Our team faced a significant challenge: our clients needed a comprehensive and accurate understanding of their customer relationship processes, but the existing Process Mining tools couldn't capture the complexity of their operations. The processes were often non-linear and dynamic, eluding the grasp of traditional algorithms that provided a too simplified and linear view. We embarked on developing a new Process Mining system, designed to handle the complexity and flexibility of real-life processes. The innovation effort was immense: it required developing new algorithms that could track parallel workstreams and integrate the subjective insights of process owners.
Shining Moment
iGrafx was recognized for the first time as a Leader in the Forrester Wave: Process Intelligence Software, Q3 2023 report and for the third time in the 2024 SPARK Matrix for Digital Twin of an Organization Solutions by Quadrant Knowledge. In the Forrester Wave report evaluation, iGrafx achieved the highest ranking in eleven critical criteria. In the SPARK Matrix report, iGrafx was positioned as a Leader for its high scores across the Customer Impact and Technology Excellence categories.