Celonis, the global leader in execution management, announced a series of investments in data, intelligence and action to expand the execution management landscape and enable every organization in the world to execute on their data.
These announcements include the acquisition of Lenses.io, a pioneer in the fast growing streaming data industry; the launch of the Celonis Execution Graph, a breakthrough technology that provides intelligence across business processes; and plans to enter into a strategic partnership with Conexiom, the leader in sales order automation to help customers seamlessly automate complex order management processes.
“Businesses are collecting more and more data across devices, applications and data pools, both in the cloud and on premise. However, they are only executing on a small fraction of the data available to them,” said Alex Rinke, co-founder and co-CEO of Celonis. “That’s why we built the Execution Management System, and today we are taking it to the next level by introducing groundbreaking innovations across the three core pillars of our platform: data, intelligence and action.”
Recommended AI News: Atidot and Health Gorilla Announce a Strategic Partnership Transforming the Process of Onboarding and Customer Retention in the Life Insurance Industry
The Data Execution Imperatives: Data, Intelligence, and Action
For decades, data has primarily been used for data analytics yet underutilized for driving actions. And no matter how big the ocean of data gets (64 zettabytes* were produced in 2020 alone) only 1 in 10 business leaders say that their teams regularly use data for decision making today. Celonis has executed a series of investments, innovations, and partnerships to address this problem and put all of this data to work, at scale.
Celonis Executes Acquisition of Lenses.io
Real-time streaming data is continuously generated by dynamic sources including media, communications, transportation, telemetry, weather and environmental systems. Streaming data is revolutionary for business processes and can make or break a company’s ability to adapt on the fly to meet ever-changing market and customer expectations.
For example, how and when a product is created and delivered is impacted by a myriad of real-time factors, ranging from weather conditions, raw material access, or even social and political trends. Companies that incorporate streaming data into their execution systems can capitalize on these millisecond changes to the business environment.
Celonis acquired Lenses.io to bring this real-time data into business execution. Prior to Lenses.io, real-time streaming data was very difficult to apply in day to day business operations because of historically hard to use frameworks like Apache Kafka. Lenses.io is a pioneer in solving this problem by creating a system that allows any company to easily utilize streaming data, produced at-scale, in milliseconds.
Recommended AI News: AnyClip Expands Offering With ‘Intelligence Lockbox’ – Bringing AI-powered Internal Communications To The New, Video-dominated Workplace
“Consumers expect real-time information and personalized experiences from all of their applications – like receiving a notification when you should leave your house to catch your flight,” said Antonios Chalkiopoulos, founder and CEO of Lenses.io. “What really got me excited is the potential to apply streaming data to the Celonis Execution Management System. I firmly believe that the way businesses use data should be as simple as how data drives actions in our day to day lives.”
“Executing instantly on core business processes represents a huge opportunity for us,” said Maximilian Hoffmann, Manager Process Digitalization at Lufthansa CityLine. “The Celonis EMS forms the core of this capability, and Lenses provides us the ability to effectively utilize real-time data, take action on it and improve processes moment-by-moment.”
Celonis Delivers Process Intelligence Breakthrough with the Celonis Execution Graph
One of the toughest challenges in business is to understand and effectively act on the complex connections between processes. Having a full picture of how processes influence each other across all systems, all departments, and ultimately all suppliers is the next evolution in execution management.
Through the process insights and data assembled over the last decade, Celonis has cracked the code on how to connect events, dependencies, and process relationships across multi-system environments.
Recommended AI News: Rev.com Joins New Brightcove Marketplace
This breakthrough, called the Celonis Execution Graph, will give businesses, for the first time, insight into the true nature of their interconnected process ecosystem. And the execution graph gets stronger and more unique to your business with the addition of more processes and more data. The Celonis Execution Graph is powered by two unique technology innovations:
- Celonis Multi Event Log allows customers to identify and pinpoint friction points in one process that are caused by another process, by visualizing interconnected processes and conducting cross-process drill downs.
- Celonis Signal Link is a new capability that allows companies to connect events from different processes and enables unprecedented visibility across departments and organizations within companies.
“The Celonis Execution Graph is a breakthrough on the same scale as pioneering process mining ten years ago. The new Celonis “ah-ha” is understanding how processes interact and impact each other, and that requires an execution graph,” said Martin Klenk, co-founder and CTO of Celonis. “Just imagine a common situation like a late delivery creating an unhappy customer. Was the problem caused by the order management process? The shipping or inventory process? Procurement or production? A combination of all of the above? The Celonis Execution Graph answers these questions.”
“We have seen very promising initial results in better visualizing our entire supply chain from using the new Celonis Signal Link capability,” said Heymen Jansen, VP Advanced Process Analytics at ABB. “I’m extremely excited about the possibilities that the new Execution Graph will unlock for our several businesses. This next-level technology enables exciting new capabilities for dynamically driving better process performance across our global operational networks.”
“Last year, I wrote that the next battle in enterprise software will be the creation of business graphs – the enterprise equivalent of social graphs,” said R “Ray” Wang, Founder, Constellation Research. “Organizations will improve their execution capacity by taking into account the relationships among users, documents, business processes and contextual data. This is an exponential breakthrough in understanding the full picture of business processes and operations.”
Recommended AI News: MyCase Announces New Integration With Smith.ai
[To share your insights with us, please write to sghosh@martechseries.com]
Comments are closed.