By iGrafx Chief Product Officer, Shoeb Javed
Industry analyst firm, Forrester, recently released The Forrester Wave™: Process Intelligence Software, Q3 2023 and named iGrafx a Leader! In this blog we’ll take a look at the report’s findings and offer a deeper dive into what the Forrester report says about iGrafx process intelligence software.
What is the Forrester Wave™ for Process Intelligence?
The Forrester Wave™: Process Intelligence Software, Q3 2023 is an evaluation of “14 providers that matter most.” The assessment process included research, analysis and scoring across 28 criteria. The Wave classifies vendors as Leaders, Strong Performers, Contenders, and Challengers and helps technology professionals select the right provider for their process intelligence needs.
How does Forrester define Process Intelligence?
The Forrester report defines Process Intelligence Software as “products that provide analytics about an organization’s processes that are operated by humans as well as implemented in IT systems.” Many think of process analytics as task and process-mining-based capabilities and at iGrafx, we agree that customers should look for vendors who combine process and task mining. We also believe it should support process transformation beyond preparation for automation, and offer predictive and prescriptive capabilities.
How did iGrafx score?
iGrafx achieved the highest possible scores in eleven of the report’s criteria, including vision, process simulation, improvement detection, process documentation and modeling, and pricing flexibility and transparency.
What did Forrester’s analysis uncover about iGrafx?
The Forrester Wave™ said: “iGrafx takes advantage of over 30 years of experience in the BPM space with many large-scale deployments.”
iGrafx was founded in 1991 with a focus on business process management (BPM). We have since expanded to provide an all-in-one solution – Process360 Live. This supports the end-to-end process lifecycle, including process intelligence. We’re growing every day, with more than 2,000 global customers, including many Fortune 500 companies.
The Forrester Wave™ said: “iGrafx excels at classic process improvement features, such as process simulation, mapping, benchmarking, and standards definition.”
Proudly, we received the highest possible scores in these three criteria: process simulation, modeling, and standard definition.
Process Simulation
iGrafx helps companies test real-life scenarios and process design changes before they are implemented and highlight the best way forward. It is the most comprehensive approach on the market to drive meaningful process improvement with simulation:
- Multiple Scenario Analysis – Identify optimal changes through configurable “what-if” analysis.
- Intelligent Swimlane® Diagrams – Minimize time to create and edit process maps and communicate cross-department process dependencies.
- Design of Experiments (DOE) – Identify optimal changes by designing and performing full factorial experiments in a risk-free environment.
Process Mapping
iGrafx helps companies model their workflow processes, from start to finish. It helps you create a vivid blueprint of the steps taken to deliver a product or service. These maps are part of a comprehensive business architecture. It can be used to represent the operations of an entire business for process understanding, consistency, improvement, and prediction.
- Complete process documentation provides a single source of truth for all process information, crucial for audits and compliance.
- iGrafx centralized process repository contains critical information about processes and their interdependencies. This enables enterprise collaboration, risk mitigation, and adherence to best practices.
Benchmarking
With iGrafx, modeling isn’t just about visualization—it’s about adhering to gold standards. Through best-practice modeling, users align with industry norms and methodologies. iGrafx facilitates the import of benchmarking metrics from providers like APQC, EY, and Deloitte. So you’re not just mapping processes, you’re also optimizing them with industry leaders’ insights.
Process Standards Definitions
Process standards are the cornerstone for businesses to institutionalize best practices. It offers a systematic way to monitor alterations through versioning, model evaluations, and approval protocols. With iGrafx, every modification is meticulously archived within a diagram’s history, ensuring that past iterations are always within reach. For those seeking a deeper dive, each version can activate a detailed process narrative report. This includes encapsulating the workflow, its characteristics, and the crucial RACI delineations.
The Forrester Wave™ said: “[iGrafx’] superior vision blends in modern technologies, such as process mining, task mining, real-time monitoring, predictive analytics, and conversational automation.”
Superior Vision
Amongst the Leaders in the report, Forrester’s assessment of our offering gave us the highest score in the Strategy category. We believe process intelligence must extend beyond the standalone capabilities of process and task mining. It should include simulation, predictive analytics, and real-time monitoring. This ‘operational intelligence’ should be integrated with process design, including repository, compliance, risk management, journeys & collaboration. And, it provides automation capabilities in a single platform. This allows customers to make continuous improvements. Additionally, process intelligence must be accessible to everyone in the company, not just process experts.
Modern Technologies
Our strategy is to leverage our 30 years of experience in the process mapping and design space. We also leverage modern technologies such as:
- Process and task mining provides a holistic view of processes by combining insights from back-end systems with front-end employee systems. AI-driven task mining is accomplished through our partnership with KYP.ai
- Real-time monitoring ups the ante for connecting analysis and visibility to decision-making. It also enables a continuous stream of relevant and current process information. This capability helps teams understand whether the improvements they’ve made are paying off so they can adjust accordingly.
- Our patent-pending AI-based, Predictive Analytics provides analysis and visibility to process and business outcomes. It also includes triggers, thresholds, alerts, and actions for organizations to consider.
- Conversational Automation is an AI-led technology. Our co-development partner – Krista, designed to build automation applications quickly without waiting for scarce or expensive IT or development resources. This goes beyond the traditional web-form approach to automated applications. These support conversational and alternative human interfaces including text, chat, and email. The conversational interface includes AI capability, allowing human inquiry into activities or status using natural language.
Leveraging modern technologies has helped iGrafx create a whole new category in process intelligence. We’re focused on predicting the future rather than analyzing the past.
Conclusion
We believe companies looking for a best-of-breed intelligent process platform designed to enable enterprise-wide process improvement. Above all, this includes process mining, analytics, simulation, modeling and documentation will benefit most from the iGrafx product.
To download a complimentary copy of the Forrester Wave™ report, please visit our website.