Celonis Launches New Inflation-Fighting Accounts Receivable Apps to Boost Working Capital and Reduce Costs

News provided by

Nov 09, 2022, 04:00 ET

NEW YORK and MUNICH, Germany, Nov. 9, 2022 /PRNewswire/ -- CELOSPHERE 2022 - Celonis, the global leader in execution management, today unveiled a new set of Celonis execution management applications for collections management, credit management, and dispute management.

These apps are designed to optimize Accounts Receivable (A/R) and to specifically help companies boost their working capital and reduce costs. They will help customers combat the pressures of inflation, cash preservation, and working capital reduction. By discovering hidden process inefficiencies in all areas of Accounts Receivable customers can discover new opportunities for cash and time savings.

These new Celonis applications were developed in conjunction with acquired technology from Sailfin. These new solutions combine Celonis' market-leading process mining and execution management technology with Sailfin's technology and expertise to give customers innovative, secure and powerful solutions to accelerate cash conversion while reducing operating costs.

The new Celonis Accounts Receivable apps help businesses:

Manage Data Complexity: Celonis provides companies with a single source of relevant customer, balance, contract, and process data, eliminating source-system fragmentation by integrating data at scale and in real-time across transactional and analytical systems.
Reduce Reactive Decision-Making: Celonis equips A/R teams with intelligent prioritization that accounts for risk factors along with an assessment of customers and balances. Data-driven insights help collectors cut through the noise, reduce their reliance on gut-instinct and systematically pursue the most impactful actions, thus improving working capital.
Eliminate Recurring Manual Work: Celonis helps streamline and automate collections, dispute, and credit processes, giving teams time back. Common manual steps like dispute coding or credit approvals are simplified or automated. Team orchestration is streamlined across hierarchy levels; escalation decisions are guided by data and process intelligence.

"The new Celonis Accounts Receivable credit app enables our credit analysts to focus on higher-value work," said Michael Kleffmann, Head of Global Accounting at Harting. "It allows us to take a much more proactive approach to our processes, so that we know how to do the right things, at the right times, increasing employee and customer satisfaction. Because it leverages data already in our system, credit analysts can get right to focusing on the actual task of making a good decision, not wasting time on data collection and interpretation - positively impacting productivity. We have already seen a 35% decrease in manual credit changes. We are very excited about the A/R credit app."

The Celonis Execution Management System

Today's business processes run inside a massively complex environment of hundreds of enterprise systems - some that are more than 30 years old. This creates a breeding ground for process problems that even the best-run companies cannot see. Celonis has spent more than a decade perfecting the science, methodologies, and technologies that identify and fix process inefficiencies hidden inside of ERP, SCM, and CRM systems.

Powered by its leading process mining technology, the Celonis Execution Management System (EMS) operates at a level above the underlying systems. The Celonis EMS uses real-time data from enterprise systems, desktops, devices, and third-party sources to "X-ray" processes. Celonis then applies intelligence to this data to identify the root cause of process problems, calculate the business impact, and confirm the fastest path to resolution. Then the Celonis EMS triggers real time automated actions to fix inefficiencies and optimize process performance. This provides companies a new and modern approach to running their businesses on intelligent processes.

Demo of Shipped Not Invoiced App (YouTube)
Demo of Accounts Receivable (YouTube)

About Celonis

Celonis reveals and fixes inefficiencies businesses can't see, enabling them to perform at levels they never thought possible. Powered by its market-leading process mining core, the Celonis Execution Management System provides a full set of platform capabilities for business executives and users to eliminate billions in corporate inefficiencies, provide better customer experience and reduce carbon emissions. Celonis has thousands of implementations with global customers and is headquartered in Munich, Germany and New York City, USA with more than 20 offices worldwide.

© 2022 Celonis SE. All rights reserved. Celonis, Execution Management System, EMS and the Celonis "droplet" logo are trademarks or registered trademarks of Celonis SE in Germany and other jurisdictions. All other product and company names are trademarks or registered trademarks of their respective owners.

Contact: [email protected]

SOURCE Celonis