NEW YORK and Munich, Germany, November 9, 2022 /PRNewswire/ — CELOSPHERE 2022 – Celonisthe global leader in fulfillment management, today unveiled a new set of Celonis fulfillment management applications for collections management, credit management and dispute management.
These applications are designed to optimize accounts receivable (A/R) and to specifically help businesses increase working capital and reduce costs. They will help clients fight inflationary pressures, preserve cash and reduce working capital. By uncovering hidden process inefficiencies in all areas of accounts receivable, clients can uncover new opportunities to save time and money.
These new Celonis apps were developed in conjunction with technology acquired from Sailfin. These new solutions combine Celonis’ market-leading process mining and execution management technology with Sailfin technology and expertise provide customers with innovative, secure and powerful solutions to accelerate cash conversion while reducing operating costs.
New Celonis Accounts Receivable apps help businesses:
- Manage data complexity: Celonis provides businesses 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 into transactional and analytical systems.
- Reduce reactive decision making: Celonis equips A/R teams with intelligent prioritization that takes into account risk factors as well as customer and balance assessment. Data-driven insights help collectors reduce noise, reduce reliance on instinct, and consistently pursue the most impactful actions, improving working capital.
- Eliminate recurring manual labor: Celonis helps streamline and automate collection, litigation and credit processes, saving teams time. Common manual steps such as dispute coding or credit approvals are simplified or automated. Team orchestration is streamlined at all hierarchical levels; escalation decisions are driven by data and process intelligence.
“The new Celonis Accounts Receivable credit application allows our credit analysts to focus on higher value work,” said Michel Kleffman, Head of Global Accounting at Harting. “It allows us to take a much more proactive approach to our processes, so we know how to do the right things, at the right time, increasing employee and customer satisfaction. Because it leverages the data already in our system, credit analysts can get right to focus on the real task of making a good decision, without wasting time on data collection and interpretation – positive impact on productivity.We have already seen a decrease of 35 % manual credit changes. We’re very excited about the A/R credit app.”
The Celonis Execution Management System
Today’s business processes run in an extremely complex environment of hundreds of enterprise systems, some of which are over 30 years old. This creates fertile ground for process issues that even the best run companies cannot see. Celonis has spent more than a decade perfecting the science, methodologies and technologies that identify and correct hidden process inefficiencies in ERP, SCM and CRM systems.
Powered by its state-of-the-art process mining technology, Celonis’ Execution Management System (EMS) operates at a higher level than the underlying systems. The Celonis EMS uses real-time data from enterprise systems, desktops, devices, and third-party sources for “X-ray” processes. Celonis then applies intelligence to this data to identify the root cause of process issues, calculate business impact, and confirm the fastest path to resolution. Then, the Celonis EMS triggers automated actions in real time to correct inefficiencies and optimize process performance. This offers companies a new and modern approach to manage their business on intelligent processes.
Demo of app shipped unbilled (Youtube)
Customer Accounts Demo (Youtube)
Celonis uncovers and fixes inefficiencies businesses can’t see, enabling them to reach levels they never thought possible. Powered by its market-leading process mining core, Celonis’ execution management system provides a comprehensive set of platform features for business executives and users to eliminate billions of inefficiencies business, to provide a better customer experience and to reduce carbon emissions. Celonis has thousands of implementations with global customers and is headquartered in Munich, Germany and New York City, UNITED STATES 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.
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