Celonis Launches New Execution Management Innovations To Eliminate Billions in Corporate Inefficiencies
Tuesday, April 20, 2021
NEW YORK and MUNICH, April 12, 2021 /PRNewswire/ -- Celonis, the global leader in Execution Management, today launched a new set of execution apps and platform enhancements geared to eliminate billions of dollars in corporate inefficiencies.
This Celonis launch addresses the primary barriers to removing process waste in core business functions. The new platform innovations help companies mine process data that proliferates across multiple systems, apps, devices, and machines. The Celonis Execution Apps then immediately begin to apply intelligence to this data, and embed it into core business operations.
"Ninety-nine percent of success in business is good execution, which is all about your processes," said Alex Rinke, co-CEO and co-founder of Celonis. "After years of working to improve processes, we have figured out how to use all of the process data to drive intelligent execution in real time. Companies that infuse data in every single action are able to eliminate billions of dollars in corporate inefficiencies, provide a better customer experience, and consume fewer resources. They are unstoppable."
Companies worldwide are reporting material results using Celonis:
-- Splunk optimized revenue and contract decisions for deals worth $250
million in total contract value (TCV) and helped boost top-line revenue
on new deals using Celonis.
-- One of the world's largest, US-based medical device companies saw its
free cash flow improve by $1.3 billion, as compared to the prior year,
by leveraging lean techniques and technologies, including the Celonis
system.
-- One of the world's top 20 banks reported that it partnered with Celonis
to help with its process engineering target of delivering over 60
million euros in cost efficiencies by 2022, from only 40 processes.
-- A Fortune 1000 manufacturer of industrial machinery reported that they
partnered with Celonis to apply process mining to identify and eliminate
waste, which drove up their margins significantly, including $11 million
in savings in 2020 and a target of $14 million in 2021.
Celonis recently released the 2021 State of Business Execution Benchmark Report which validated the financial benefits of applying data and intelligence to business execution. The benchmark reported that data-driven execution can free up as much as $567 million in working capital and $105 million in cost savings for the average $5 billion dollar revenue company.
Mobilize Your Process Data With the Celonis Execution Management Platform
The Celonis Execution Management Platform powers all facets of business execution including real-time data ingestion, process and task mining, planning and simulation, visual and daily management, and action flows.
Celonis added major new capabilities across its execution management platform to address the growing demand from customers to mobilize more data, apply more intelligence, and drive more automated actions. Highlights include:
-- Greater access to process data: Expand data ingestion to new real-time
and streaming data sources from Snowflake, Coupa, and Salesforce
Platform Events; bring in data from any API-based system with the new
low-code extractor.
-- Deeper process intelligence: Plan and predict how changes in process
paths impact business metrics with the new machine learning based
process simulator. Intelligently identify, flag, and eliminate duplicate
invoices with new AI-enabled Optical Character Recognition technology by
Rossum.
-- Expanded automation and action flows: Gain virtually unlimited
automation coverage with more than 1,000 pre-built Integromat
automations and 10,000 execution actions. Remove all barriers to
execution with leading cloud platforms like Workday, Docusign and Coupa
as well as connections to on-prem systems.
Capture Your Dollars With the Celonis Execution Apps
Celonis Execution Apps empower business users to apply data and intelligence to how they sell, ship, collect, buy and pay -- without having to swap out or change the underlying transaction systems. The new Celonis Execution Apps round out the apps suite, which address all core business functions, including:
-- Celonis Order Management helps companies overcome order and supply chain
complexities to deliver on-time while reducing costs. The app
proactively corrects order errors and guides them using machine learning
predictions about delivery likelihood. Modules include on-time delivery
orchestration and touchless order processing.
-- Celonis Inventory Management removes the unnecessary extra steps
required to optimize inventory. Modules include automated master data
correction, real-time inventory monitoring and management, outcome-based
material prioritization, and forecast optimization.
-- Celonis Procurement Management helps eliminate procurement errors and
roadblocks, by buying at the right price and terms, reducing total
spend, and hitting optimal PO automation rates. Modules include
automated tactical buying, intelligent supplier governance, and purchase
requisition optimization.
"The Celonis Procurement Execution App is helping us to become a data-driven procurement organization, a central hub for insights and enabling us to fulfill our vision to be the co-pilot for the entire organization," said Alejandro Basterrechea, Head of Procurement Excellence at Zalando SE.
For RATIONAL AG, a global appliance manufacturer, the Order Management Execution App has become a core part of its day-to-day operations. "It offers everything we need for our daily work and we don't need to sign into our transaction systems anymore," said Martina Biegler, Director of Global Customer Operations at RATIONAL. "The Celonis Execution Management System is a great accelerator for our digital transformation."
All of these Celonis product updates and releases will be showcased at the Celosphere 2021 conference - hosted online from April 13-15. This year's event is expected to draw more than 15,000 process mining enthusiasts and execution management experts.
More details on the full Celonis Execution Management Platform and Execution Apps are available here.
About Celonis
Celonis believes that every company can unlock its full execution capacity. Powered by its market-leading process mining core, the Celonis Execution Management System provides a set of applications, and developer studio and platform capabilities for business executives and users to eliminate billions in corporate inefficiencies. Celonis has thousands of customers, including ABB, AstraZeneca, Bosch, Coca-Cola, Citibank, Danaher Corporation, Dell, GSK, John Deere, L'Oréal, Siemens, Uber, Vodafone and Whirlpool. Celonis is headquartered in Munich, Germany and New York City, USA and has 15 offices worldwide.
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SOURCE Celonis
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