Application of Process Mining in Managerial Accounting: A Case Study of an Investments and Securities Firm
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- Application of Process Mining in Managerial Accounting: A Case Study of an Investments and Securities Firm
- Ree, Jason Jihoon
- Song, Minseok
- Issue Date
- Graduate School of UNIST
- Business process mining techniques use event logs recorded from information systems to extract and discover useful process and organizational information. Over the past couple of decades, many new and powerful process mining techniques have been developed by researchers and software vendors. Although numerous case studies demonstrating the applicability of process mining have been emerging in literature, there has yet to be an application of process mining in the financial sector. In this paper, we explore the applicability of process mining of an investments and securities firm, more specifically investigating its managerial accounting processes. Using an assortment of process mining techniques available in the ProM framework, we examine and discover clear differences between the AS-IS model stated by the financial firm and the process model extracted from the event logs. This research aims to accomplish the following: a) add to the current process mining application literature by examining the applicability of process mining in the financial sector, b) utilize various process mining techniques to observe and assess process information in the specific managerial accounting case study of the monthly profit and loss computation process, c) identify the strengths of process mining and how they can supplement the weaknesses of business process reengineering, and d) address the possibility that event log data with insufficient case sizes needs to be addressed differently than past approaches with data with sufficient case sizes.
- Technology Management
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