Signavio, a leading provider of business transformation solutions, today announced that it has been named a global leader in process mining, ranked by independent analyst firm Quadrant Knowledge Solutions.
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Businesses around the world are turning to process mining solutions to effectively nagivate their way through the global pandemic and remain competitive through their pursuit of operational excellence. Quadrant Knowledge Solutions projects that the global process mining market is expected to grow from $245 million in 2019 to $7.11 billion in the next five years, at a compound annual growth rate of 75.3 percent from 2020-2025.
The Quadrant Knowledge Solutions SPARK Matrix™ includes a detailed analysis of global process mining market dynamics, major trends, vendor landscape and competitive positioning. The study provides competitive analysis and ranking of the leading process mining vendors in the form of its SPARK Matrix, providing strategic information for users to evaluate different vendor capabilities, competitive differentiation and market position.
Signavio was positioned in the Leaders quadrant due to its ability to provide a sophisticated and comprehensive technology platform to enable organizations to visualize, design, and optimize business processes as part of their operational excellence and compliance management initiatives.
“We expect Signavio to build on its process mining leadership because of the comprehensiveness, customization and intelligence of its suite,” said Apoorva Dawalbhakta, Senior Analyst at Quadrant Knowledge Solutions. “SIgnavio takes a holistic approach to help its customers identify business-critical processes, monitor process inefficiencies and act towards optimizing these processes. This helps users seamlessely manage their complex processes across their organization, helping to achieve excellence and industry leadership. As process mining technology is expected to grow exponentially in the next five years, we expect Signavio to continue to remain amongst the frontrunner in the near future.”
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Signavio Process Intelligence enables business users worldwide to run in-depth process analyses. Gaining actionable insight into process data allows companies to optimize day-to-day operations and make smarter decisions, faster. Companies depend on Signavio to identify the root causes of poorly performing processes by detecting and visualizing compliance violations, monitor process performance and act on critical cases and performance bottlenecks.
“The approach that companies are taking to process mining is rapidly changing,” said Gero Decker, co-founder and CEO, Signavio. “We are at an inflection point, in terms of the role process will play inside organizations, moving closer to the epicenter of organizational change and operational excellence. We are making process mining an essential part of business growth, and both our technology and the process profession are rapidly evolving to meet society’s challenges.”
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