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- This is it.
“70% of large-scale transformations fail to achieve their expectations” (Mckinsey)
The above is a surprising statistic in this time of prevalent digital transformation, where organisations strive to optimise their processes, enhance operational efficiency, and ultimately, deliver significant business outcomes. However, this noted disconnect between expectations and reality unfortunately exists and is often referred to as the ‘value gap’.
In this blog, we will be running through what the value gap is and what can cause this in your organisation’s transformation initiatives. Followed up with valuable insight on how Business Process Simulation can bridge the gap by linking your process mining efforts into tangible business impacts.
What is the value gap and why does it happen?
The value gap in transformation initiatives is the void between the expected and targeted results of an organisation’s improvement efforts and the actual results that are achieved for the organisation.
In complex transformation initiatives involving changes to people, processes and systems, it can be deemed near-impossible to fully understand every gap, monitor them and then navigate them unscathed.
Here are some of the main causes:
Required resources to effectively run the transformation process may be unavailable or allocated on time consuming tasks. Meaning that key insights are missed, going unmeasured and managed during the project.
Overoptimism of new technology
Gaps can be exacerbated by the way which digital services and solutions are presented to us, leaving organisations with unrealistic expectations - vastly overestimating functional capabilities or overlooking technicalities which could arise during implementation.
Whilst transformation leaders and teams strive to answer, manage and mitigate these risks before driving forwards their desired improvement initiatives, they are often unable to address them all. Due to the interconnecting possibilities, some uncertainties and what-ifs remain unanswered throughout the project, only being quantified on or after the transformation has gone live.
Transformation teams may take a siloed approach to their initiatives, solving the problems for one process by moving or creating problems in another.
Focusing on historical issues
By only reviewing what has happened in the past, and not considering further change, transformation initiatives may fail to future-proof their processes, systems and people for the long term.
Left unidentified or inadequately managed, these risks can be catastrophic. Creating a ticking time bomb of unrealised business outcomes and widening the value gap for your organisation.
How does Business Process Simulation bridge the gap?
Transformation teams rely on various methods and tools to try and span the gap, using comprehensive implementation practices such as the DMAIC lifecycle. However, transformation is an ongoing process, not a one-time event, meaning these teams must continually monitor this progress towards process excellence. All these are necessary for any transformation to be a success, but they are a strain on time and resources, taking teams away from acting on insights and developing impactful
This is where Business Process Simulation (BPS) excels and unlocks additional opportunities to bridge the value gap. Moving your organisation through the DMAIC lifecycle with speed, confidence and flexibility.
Define: BPS can not only be used as a tool to map the as-is process, it can also help define the future state of your current process and systems. By stress testing different scenarios or technology options, transformation teams can better define the project's goals or quantify risks in changes to their technology platforms.
Measure: BPS can accurately model current processes, utilising every detail from process mining or mapping. This model serves as a 'Digital Twin' of the organisation's process, providing a comprehensive overview of the current state. It also allows for the precise measurement of key performance indicators (KPIs) such as process time, cost, and quality. Helping transformation teams to explore interconnecting process changes or commercial outcomes with ease, which may not have been possible with process mining or too time-consuming using other traditional methods.
Analyse: BPS supports organisations to turn insights from process mining into real-time simulations and business outcomes. By changing different parameters in the simulation, organisations can gain a deeper understanding of the factors impacting their process and business performance. Moving your organisation through the analysis stages at pace and freeing up project resources for more value-added activities.
Improve: Although process mining provides a diagnosis of the current health of your organisation's processes, it is very retrospective, meaning you only know about a problem after it’s occurred. BPS takes you to the next level, using insights from process mining, you can run simulations of your as-is and to-be processes, testing different scenarios and optimisations through a forward-looking lens.
Control: Tools like Silico’s Business Process Simulation already enable organisations to create Digital Twins of their processes. Unlocking new levels of transparency, organisations can run forward-looking simulations to optimise outcomes, anticipate future scenarios, and make informed data-driven decisions. As organisational processes are developed, added and interconnected, they build into a Digital Twin of their Organisation (DTO), meaning any changes made in one area can easily be visualised impacting another and subsequently controlled.
Moving organisations away from siloed change to integrated and controlled transformations helps to bridge the value gap and achieve maximise the business impact of their transformation.
How does Business Process Simulation link process mining to business impact?
Business Process Simulation forms a valuable link between process mining and achieving desired business impacts. By using insights from the process mined ‘as-is’ state of a process and projecting forward the outcomes, BPS enables teams to try potential improvements or even change the process structure entirely.
Here's how it works:
- Inputs from process mining: The first step involves utilising the insights discovered from process mining tools. These insights provide a detailed understanding of the current state of processes, including bottlenecks, inefficiencies, and deviations.
- Simulation and testing: With the 'as-is' state as the foundation, BPS allows organisations to build and evaluate different 'to-be' scenarios. Enabling them to tweak various parameters like resource allocation, process paths, and rules, and simulate the outcomes - enabling your teams to iterate through the DMAIC lifecycle at pace.
- Projection of business impact: BPS doesn't stop merely at process improvements. It also quantifies the potential business impact of these improvements, providing commercial KPIs and any other metrics relevant to your organisation.
- Decision support: Armed with the knowledge of the current state of processes and the potential outcomes of various improvements, organisations can make informed decisions that align with their objectives. Decision-makers can test and measure different scenarios via easy-to-use dashboards, immediately revealing the impact on operational and financial outcomes in real time. This bolsters transformation buy-in without the need for technical knowledge.
In the example of an Order-to-Cash (O2C) process below, insights from process mining have been imported into a process simulation model using Silico. Allowing the transformation team to simulate forward-looking scenarios and explore changes to the process structure, test out different configurations and discover the optimal version.
In Silico’s dashboard, transformation leaders and decision-makers can also visualise and test different scenarios in a clear and easy-to-use display. Supporting transparent data-driven decision-making by removing any layers of complexity and bias, connecting actions to operational and commercial KPI’s.
BPS plays a critical role in translating insights from process mining into meaningful operational and commercial outcomes, effectively highlighting and helping bridge existing value gaps.
Business Process Simulation can be pivotal in bridging the value gap by linking process mining insights with tangible business impact. By simulating various 'to-be' scenarios and projecting their potential outcomes, BPS allows organisations to make informed decisions about process improvements. It provides a clear roadmap for transitioning from the current 'as-is' state of processes to a more efficient 'to-be' state that aligns with strategic objectives.
Bridging the value gap requires a shift in thinking from merely identifying process inefficiencies to actively simulating, testing, and implementing process improvements. In this regard, Business Process Simulation is not just a process improvement tool but a strategic asset that enables organisations to transform process mining insights into significant business outcomes.
If process mining is diagnosing your problems, then Business Process Simulation could be your remedy for solving them.