Microsoft is acquiring process-mining startup Minit for an undisclosed sum, the company announced Thursday. Microsoft views the acquisition as a way to help its existing customers improve their operations, and it isn't the first move by an ERP player to go after the nascent process-mining space.
Process mining lets companies analyze their business processes — workflows and procedures that employees follow in response to various events — in order to fix bottlenecks and make other operational improvements. A lot of that work has traditionally been done by systems integrators or consultants, who map out processes by interviewing employees and analyzing documents. Process-mining companies essentially digitize this process, automatically reviewing workflows in an ERP system, for example.
Buying a process-mining company is a logical transition for large ERP players, because they probably have all the necessary operational and process data already in their systems. By plugging in a process-mining component, these companies can provide more value to their customers by making their processes faster or less error-prone, for example.
After a company has identified its processes, the logical next step is to automate them, which is why process mining and robotic process automation services are often talked about in conjunction. It's also why the Minit acquisition is a way for Microsoft to bolster its Power Automate product.
Microsoft isn't the only cloud company to take a stab at the emerging process-mining industry. Early last year, SAP acquired Signavio for an undisclosed sum. And process-mining giant Celonis, which raised $1 billion in funding last year, acquired Process Analytics Factory on Tuesday.
Microsoft did not disclose the terms of the transaction. Minit, based in the Slovak Republic, is a small company that had raised around $11 million in funding, according to Crunchbase.
This story was updated to correct the amount of money Celonis raised last year.