Celonis Proactive Insights Engine
Company: Celonis, GmbH, München, Germany
Company Description: Celonis is a leading global supplier of enterprise-ready process mining. With its unique Celonis Process Mining technology, it offers a versatile, innovative, industry-independent analytics solution for optimizing IT-driven processes in large enterprises. Celonis enables its customer to run transparently: Siemens, ABB, Bayer, RWE, EDEKA, Vodafone, and many others.
Nomination Category: Kategorie für Neue Produkte und Produktmanagement Awards
Nomination Sub Category: Bestes neues Produkt oder Dienstleistung - Software - Big Data-Solution
Nomination Title: Celonis Proactive Insights Engine
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Big Data Process Mining, Now with AI
Celonis GmbH uses Big Data and machine learning to help firms find heretofore hidden pockets of process weakness.
When the data of different departments and systems are combined in a meaningful way, "Big Data" becomes "Smart Data". This is actually driving companies forward, "says Bastian Nominacher, co-CEO and co-founder of Celonis. The software from Celonis collects, evaluates and presents processes in a visual representation. Process Mining by Celonis is not limited and able to exploit and evaluate enormous data sets with millions of process instances. This means that any process can be optimized in companies of any size and industry.
Celonis has had a rapid success story and today makes more than 10 million euros in sales with over 100 employees.
in 2016, Celonis launched the Proactive Insights Engine (Pi) with artificial intelligence and machine learning. The new version with the addition of Pi is now advancing a big step the Celonis concept. The term "Proactive" indicates what is involved: the data is not only collected, analyzed and visually processed, but the software now provides intelligent solutions and suggestions, acting as an automated business consultant.
The software tries to "understand" workflows and draw conclusions from them. It uses company data to reconstruct and visualize process flows. Celonis Proactive Insights (Pi) can now conduct causes research and, above all, provides recommendations for action - intelligently and fully automated.
Celonis provides is the world's most powerful tool for the analysis and optimization of IT-supported business processes. Large companies are now using the Celonis software, first Siemens, then Bayer, Nestlé, RWE, EDEKA, KPMG, Vodafone and UBS . In 2015, Celonis signed a partnership with SAP: who is now marketing their product as "SAP Process Mining by Celonis. As a result, international sales have risen and SAP is pushing the topic strongly and bringing Celonis to international markets. The company is incredibly proud of the fact that they are able to count on a very large number of well-known companies from the trade, industry and the service sector.
Insight into business process is necessary, constantly so, and often fallible. Better data and better analytics can help firms manage their daily flow of activity, supply chain and, by extension, cash. Celonis Customers benefit from higher efficiency, decreasing costs and realized productivity gains of up to 30 percent. This creates attention and makes the round fast in all sectors.
After 5 Years of bootstrapping, in 2016, Accel, 83North, and several business angels invested $27.5mUS in Celonis, its first external funding. It’s planning to use the financing to ramp up its operations in markets such as the U.S. Its main markets at this stage are Germany and Europe, according to CEO Rinke, with what he dubs a “growing presence” in Benelux and the U.K. He tells TechCrunch. “Our main focus is really creating the category and building our marketing and sales operation worldwide.” In 2016, , Deloitte named the Celonis as the fastest growing tech company in Germany and they were named German EY Entrepreneur Of The Year 2016 Award in recognition of its impressive growth rate and spirit of innovation.