MELBOURNE, Australia, July 7, 2020 /PRNewswire/ -- Leonardo, the Australian expert in end-to-end process improvement through technology, today announced its investment in Apromore - a leading developer of open-source, AI-driven process mining technology. The investment forms part of a Series A round of funding totalling $A6.8 million, led by German business process management specialist GBTEC, and also included The University of Melbourne, which helped to incubate Apromore prior to spin off.
The Series A investment will allow process mining software start-up Apromore to strengthen its product development capacity and expand into the realm of AI-driven automated process improvement, including robotic process mining, prescriptive process analytics, and automated decision optimisation. According to Gartner's 2019 Market Guide for Process Mining: "[Apromore] focuses significantly more than its competitors on intelligent support for model enhancement, and on predictive analytics." It is anticipated the investment will allow Apromore to build on its success to date and further solidify its market position.
Leonardo's Managing Director Adam Mutton commented on Apromore's potential: "Apromore is leading the way in innovative AI Driven Process Improvement – from automated discovery of actual as-Is processes, to predictive process modelling based on live data to future directions involving integrated robotic process discovery, scripting and automation. We have seen real business value from using process mining and integrating this technology with our intelligent end-to-end process improvement approach. Improving processes with data-based analysis across business systems helps pinpoint the bottlenecks and validate automation opportunities."
Apromore's CEO, Prof. Marcello La Rosa, highlighted that "Apromore inherits a decade of R&D in the field of business process management and process mining and we have packed the most advanced algorithms for process mining into Apromore's products. This investment will allow us to maintain our competitive advantage, by incorporating the latest research and innovations in the field of AI-driven automated process improvement into our product. It will also allow us to continue pursuing our mission of democratising process mining via a commercial open-source business model."
Process Mining Enables Agile, Real Time Production Planning Decisions
Apromore provides process mining, a data-driven approach to analysing and improving business processes. Traditionally, business processes are discovered and analysed by observing and interviewing the people who use them – a labour-intensive and error-prone job. In contrast, Apromore analyses the vast data that is contained in modern business IT systems, such as enterprise resource planning and customer relationship management systems. Apromore's process mining algorithms can, for example, automatically reverse-engineer the processes supported by these systems, and identify bottlenecks, deviations from policy or compliance violations, and quality issues affecting customer experience.
One of Leonardo's clients, a food production company has already seen real business value using Apromore's Process Mining tool on a recent project. "Leonardo and Apromore enabled this business to dramatically reduce discovery and analysis time, rapidly analyse large data sets and drill to specific issues that have determined this customer's highest priority improvement projects. This helped provide the business with live production analytics and performance data to enable more agile and real time production planning decisions." said Marco Fargnoli – Consulting Principal for Leonardo.
Apromore was incubated at the School of Computing and Information Systems (CIS) of Melbourne School of Engineering for two years, before a company was incorporated in 2019. The startup was co-founded by Professor Marcello La Rosa of CIS and Professor Marlon Dumas of the University of Tartu, Estonia, with their former PhD student Dr Ilya Verenich and Apromore's Chief Architect Dr Simon Raboczi.
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About Leonardo
Leonardo is a process transformation company, driving intelligent end-to-end process improvement through technology. We help our clients rebuild their processes for the digital age by combining process-centric strategic thinking with the rigour and precision of enabling technologies that support their transformation. Over the past two decades, Leonardo has helped their clients both in local and international, take manual, outdated, broken processes and reimagine them for the digital age – ensuring that the business strategies are embedded, automated and integrated into the systems and platforms that drive better experiences with customers and stakeholders. To learn more, visit: https://www.leonardo.com.au/
About Apromore Pty Ltd
Apromore Pty Ltd is a leading provider of open-source solutions for process mining and AI-driven business process improvement. Their vision is to democratize process mining by enabling organizations to achieve digital transparency and operational excellence. We've helped dozens of organizations leverage the full potential of their business transactional data to enhance their productivity, product & service quality, and compliance.. To learn more, visit https://apromore.org
Contact:
Daniel Weatherhead
Tel.: +61424160635
E-Mail: d.weatherhead@leonardo.com.au
Photo - https://photos.prnasia.com/prnh/20200706/2848323-1?lang=0
