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STAMFORD, CONN., APRIL 27, 2022


GARTNER SURVEY SHOWS CFOS TURNING TO PROCESS MINING TO DRIVE BETTER RETURNS FROM
RPA


CFOS SEEK MORE VALUE FROM RPA AMID GROWING PORTFOLIO OF TECHNOLOGIES TO ACHIEVE
EFFICIENCY

Eighty percent of finance leaders agree finance must significantly accelerate
its implementation of digital technology, such as robotic process automation
(RPA) and artificial intelligence to effectively support the business by 2025,
according to a survey by Gartner, Inc. When implementing RPA, CFOs see
investment in process mining as key to unlocking returns from the technology.

A December 2021 survey of 400 finance leaders showed a broad expansion of the
CFO technology toolkit being used to drive efficiency, agility and productivity.
RPA remains the technology most often cited by respondents in supporting their
hyper-automation objectives (see Figure 1), but the technology has yet to
deliver a high level of value to finance departments. 

“Despite ongoing investment in RPA, CFOs are realizing they need a broader
toolkit to realize their full automation objectives,” said Nisha Bhandare, VP
analyst in the Gartner Finance practice. “To realize higher value from their RPA
investments, CFOs are turning to a suite of complementary efficiency
technologies, such as process mining, which will remain a future driver of
growth for RPA in the coming years.” 

FIGURE 1: PERCENTAGE OF RESPONDENTS ASSOCIATING TECHNOLOGY WITH SPECIFIC PRIMARY
VALUE FACTORS



Source: Gartner (April 2022)

As part of the survey, CFOs were questioned on 16 different technologies within
the category of process automation and optimization. Only three technologies
within the category are expected to see an increase in investments from current
levels over the next two years: reporting automation, RPA and process mining. Of
those three technologies, only reporting automation was rated as currently
delivering “high value” to finance departments.

“Finance processes are complex, exception-heavy and reliant on judgment and
subject matter expertise,” said Bhandare. “This currently puts a ceiling on
RPA’s value creation, and CFOs need to explore additional options both to
enhance RPA’s usefulness, and in some cases, select better fit technologies for
their automation goals.” 

Process Mining Attracts Greater Investment

Gartner’s analysis of the survey results indicates three key drivers of growth
for RPA over the coming two years: embedded machine learning, cloud delivery and
integration with process mining. While process mining is still an exploratory
technology, not yet being widely adopted by finance departments, the potential
to enhance current RPA implementation makes it an attractive technology within
the category.

Process mining is designed to discover, monitor, and improve real processes by
analyzing event logs in information systems. Finance leaders can review exactly
what happened during the execution of their process after the event logs are
analyzed by the process mining algorithm. Process mining can be used in three
distinct and additive ways, including:

 * Process discovery – Build a model to reveal how a current process is
   operating “as is”
 * Process conformance – Compare the actual event’s process to its ideal model
 * Process enhancement – Improve or extend processes, including with RPA

“Process mining gives finance leaders a tool to identify the root causes of
inefficiencies and exceptions in real-time,” said Bhandare. “This provides the
opportunity to streamline and correct processes that may have been perceived to
be resistant to automation and introduce more opportunities to use RPA—and
automation more broadly—in achieving additional efficiency and cost gains.”

Gartner clients can read more in: 2022 Finance Technology Bullseye Report.
Nonclients can learn more in: Top Strategic Technology Trends in Finance

CFOs and finance leaders can participate in Gartner research and get
complementary access by joining the Gartner Research Circle.

About the Gartner CFO & Finance Executive Conference

Gartner experts will provide additional insights on the key issues facing CFOs
during the Gartner CFO & Finance Executive Conference, June 6-7, 2022, in
National Harbor, MD. The Gartner CFO & Finance Executive Conference delivers
actionable, objective insight to CFOs and their teams to help them leap-frog
forward on their digital journey by understanding what successful teams are, and
are not, building, buying, and borrowing in the market. For the full agenda and
to register visit: https://www.gartner.com/en/conferences/na/cfo-finance-us.

About the Gartner Finance Practice

The Gartner Finance practice helps senior finance executives meet their top
priorities. Gartner offers a unique breadth and depth of content to support
clients’ individual success and deliver on key initiatives that cut across
finance functions to drive business impact. Learn more at
https://www.gartner.com/en/finance/finance-leaders. Follow Gartner for Finance
on LinkedIn and Twitter using #GartnerFinance to stay ahead of the latest expert
insights and key trends shaping the Finance function. Visit the Gartner Finance
Newsroom for more information and insights.

 

MEDIA CONTACTS

Justin Lavelle
Gartner
justin.lavelle@gartner.com

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