Latest News
Unlock Finance Transformation With Process Mining.
March 19, 2024
StereoLOGIC has been featured in Gartner Innovation Insight.
This article reveals how critically important process mining is for finance organizations. Gartner predicts that by 2027, 50% of finance organizations will deploy process mining technology. However, according to the article, the current adoption rate by finance organizations is very low.
At the same time, StereoLOGIC President and CEO, Dr. Sofia Passova, states that finance organizations are the primary clients of StereoLOGIC. Sofia explains: "The lengthy deployment time, extensive need for consulting support, and delayed ROI could explain the finance industry's low adoption of many process mining platforms.
Quick adoption and faster ROI are the key reasons finance organizations choose StereoLOGIC.
Separating Fact From Fiction In Digital Transformation ROI.
December 22, 2022
By Neal Oswald.
Today’s finance chiefs are probably getting told many Alice-in-Wonderland stories about the benefits of digital transformation. Promises are made, assumptions are compounded, and time money, resources are allocated and spent. Many CFOs are justifiably skeptical of “digital transformation promises.” Digital transformation business cases generally have a poor track record of benefits realization flowing through to the results you are seeing in your monthly P&L. In fact, according to a 2021 report by McKinsey & Company, approximately 70% of all major transformation projects fail...
...Fully automated process mining and task mining tools are available from companies like StereoLOGIC – a company I’ve been recommending and using as a consultant for years. This software can generate and visualize a digital twin of the actual work that is performed in the value stream. The result is a fully transparent landscape of timings, statistics, cost estimates and process documentation that will change the dialogue within and across teams...
Quick adoption and faster ROI are the key reasons finance organizations choose StereoLOGIC.
What Good is Robotic Process Automation (RPA)?
September 29, 2022
By Sofia Passova, Ph. D., StereoLogic founder and CEO.
The headlines abound: Business automation software (a.k.a. Robotic Process Automation, or RPA) has helped thousands of companies save money by automation of repetitive, tedious tasks and enabling employees to focus on mission-critical operations.
Many business process tasks can be automated, but not all of them need to be.
An Ernst and Young study found 30% to 50% of RPA engagements fail, citing poor planning as the difference between success and failure. These planning challenges typically occur when business processes are evaluated manually – via a lengthy procedure involving employee interviews and random spot-checks – resulting in inaccurate process discovery, task frequency and time metrics. Manually discovering processes not only takes too long, but it also generates incomplete data for RPA planners and developers. As a result, RPA bots are often implemented where it is “easiest” to apply the tools, not in most critical areas that would maximize ROI.
RPA brings no value if you do not know exactly what to automate. Quite simply, you can’t automate stupid.
New Case Study Reveals How WYTH Financial Improved Client Experience with StereoLOGIC Task Mining.
May 18, 2022
Within two months of deploying Task Mining, Canada’s leading digital bank identified numerous opportunities to accelerate back-office processing.
Neal Oswald COO of WYTH - StereoLOGIC Immediate Task Mining for better Client & Employee Experience.
Press Release: Toronto – StereoLOGIC, Ltd, a leader in integrated process and task mining technology that helps companies discover inefficiencies in their business processes and suggests solutions to improve workflow and revenue, has published a new case study that reveals how Wyth Financial, Canada’s leader in digital-first banking, was able to leverage StereoLOGIC software to improve customer service.
In the case study, found online here, StereoLOGIC demonstrates how Wyth Financial used its proprietary business intelligence software to quickly identify where client services could be accelerated through automation or by redesigning employee work processes.
“StereoLOGIC took less time to diagnose and present solutions than it would have taken a business analyst to assess the problem. It only took a couple of use cases to reduce our learning curve,” said Kelly Sanheim, VP of Digital Servicing and Operational Excellence for Wyth Financial. “As we automate more processes, we remove friction in our processes, which creates capacity for our employees and improves our speed of service and the overall experience with our clients.”
StereoLOGIC’s founder and CEO, Sofia Passova, Ph.D., noted that banks and insurance companies are some of her best customers.
“Financial and healthcare institutions are burdened with many processes and redundant employee-level tasks, often required by regulatory mandates, that are designed to validate and protect sensitive data and information,” Passova noted. “Most such companies know they have productivity or process gaps, but they don’t know how or where to look for them. Our unique technology platform not only identifies these problems quickly, but often identifies cost savings of up to 50% in the first week. We look forward to continuing our journey with Wyth Financial.”
About StereoLOGIC, Ltd.
StereoLOGIC, a leader in integrated process and task mining, helps companies transform the way they discover, analyze, optimize and automate their business processes, resulting in significant time and operational cost savings, improved revenue streams and reduced compliance risk.
Its patented technology solutions, developed by former rocket scientist Sofia Passova, Ph.D., and her team, have been recognized as a “Gartner Cool Vendor” and successfully implemented at companies including Pitney Bowes, Texas Life Insurance Company, Concentra Bank (now Wyth Financial), etc.
The technology is software- and platform-agnostic and can be applied to small businesses or large enterprises, providing immediate implementation and actionable results within the first week.
Learn more at www.stereologic.com.
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Media Contact:
Jesse Nash
Cricket Public Relations
Jesse@cricketpr.com