Designing intelligent business processes
Celonis recently released the State of Business Execution Benchmark Report 2021, which quantifies the financial potential of data-driven and intelligent business execution: According to the report, it can unlock up to $567 million in working capital and $105 million in cost savings for a company with an average revenue of $5 billion.
"Today's dynamic world requires all companies to be able to quickly adapt business processes to changing market conditions" said Luka Mucic, SAP's chief financial officer, as part of the company's acquisition of Celonis competitor Signavio of Berlin.
"I can only emphasize again and again: For enterprises, designing, evaluating, improving and transforming business processes constantly matters. By combining Signavio's portfolio with our Business Process Intelligence solutions, we create a leading suite for end-to-end business process transformation, giving our customers a competitive edge."
Execution Management
In response, Celonis, the global leader in execution management, has unveiled a suite of new execution apps and platform extensions designed to help organizations eliminate billions of dollars in inefficiencies. Celonis is addressing the biggest obstacles to eliminating friction in core business functions.
The platform innovations are designed to help companies leverage process data that is distributed across multiple systems, apps and devices. Celonis Execution Apps process this data using artificial intelligence and link it to core business processes. "The optimal execution of processes accounts for 99 percent of the business success of companies", explains Alex Rinke, co-CEO and co-founder of Celonis.
"We have been working on improving processes for years. As a result, today we are able to leverage all process data in companies to drive real-time intelligent business execution. Companies that incorporate data into every single decision can eliminate billions of dollars in inefficiencies, provide better service to customers, and save resources."
ML and Process Intelligence
Business Process Intelligence is a key component of new offerings from Signavio, Celonis and partners. The goals are to help companies become resilient, agile and intelligent in their holistic digital transformation.
Celonis and Signavio can offer SAP legacy customers a holistic suite of flexible process transformation solutions that enable customers to adapt their business processes end-to-end. This includes business process analysis, design and improvement, and process change management.
SAP and Signavio will bring together standardized out-of-the-box process KPIs, comprehensive benchmarking data, process mining, user behavior mining and customer experience analysis to provide customers with a 360-degree view of every business process.
At the same time, customers are provided with tools to fully understand and transform processes. This offering thus complements the already long-standing and successful collaboration between Celonis and SAP.
Celonis Execution Apps enable the use of more data and the integration of more intelligence in key business areas such as sales, shipping, receivables, purchases and payments - without having to replace or adapt the underlying transaction systems.
The Execution Management Platform supports all aspects of business execution, including real-time data capture, process and task mining, planning and simulation, visual and daily management, and action flows. Now, Celonis has added new capabilities to its Execution Management Platform to enable its customers to leverage even larger amounts of data and deploy more intelligence and automation.
Highlights include expanded access to process data through the integration of new real-time and streaming data sources from Snowflake, Coupa and Salesforce Platform Events. The new low-code extractor allows data from any API-based system to be included.
Furthermore, based on AI algorithms, a deeper process intelligence was created. With the new machine learning-based process simulator, the impact of changes in processes on business metrics can be planned and predicted.
Another innovation is the intelligent identification, tagging and elimination of duplicate invoices with Rossum's new AI-enabled Optical Character Recognition technology. The workflow has been complemented by advanced automation and action flows.
More than 1000 pre-configured Integromat automations and 10,000 Execution Actions enable virtually unlimited automation possibilities. With leading cloud platforms such as Workday, Docusign and Coupa, and connections to on-premises systems, execution barriers can be eliminated.
"The Celonis Procurement Execution App helps us align all of our procurement in a data-driven way, acting as a central interface that delivers key insights across the organization. This brings us closer to our vision of becoming the co-pilot of the entire organization.", explains Alejandro Basterrechea, Head of Procurement Excellence at Zalando.
