Welcome to Episode 71 of the Cloud Wars Horizon Minute — featuring news and commentary hosted by Acceleration Economy analyst Tom Smith. Each episode provides insights into one or more innovation accelerators on the Cloud Wars Horizon. In this episode, Tom shares the details on major product announcements from Celonis at its Celosphere conference, which started today and where he will be reporting from all week.
This Cloud Wars Horizon Minute is sponsored by Celonis, the market leader in process mining and execution management. The world’s top 2,000 process fanatics learned to fix process inefficiencies at Celosphere, the company’s annual conference, which was held November 9th and 10th in Munich, Germany. Sign up to watch the free virtual Celosphere 2022 stream here.
Highlights
00:42 — The new Process Sphere is a significant advancement in helping companies deal with the complexities and challenges of today’s supply chains. Celonis’ core process mining technology has long been used to isolate problems in processes and take actions to fix them. That work has typically occurred one process at a time. Process Sphere allows users to look at orders, invoices, purchases, shipments, and related events all at the same time.
01:55 — Process Sphere will yield a deeper understanding of the root causes of problems, and therefore faster time to remediation and value. Process Sphere is applicable to any process, but Celonis Co-founder and Co-CEO Alex Rinke referred to the supply chain as “one of the accelerators of this for sure.”
02:03 — The new Business Miner can be viewed as a way for Celonis to address the oft-cited industry goal of democratizing complex applications so that they can be leveraged by a greater number of users. Business Miner presents a consumer-style user interface that lets users pose questions tied to their personas. An accounting professional could ask: What is our payment behavior breakdown — covering early, on-time, and late paying customers?
02:45 — Celonis is partnering with the e-commerce platform provider Emporix to embed process and other insights from Celonis into its e-commerce engine. A couple of practical use cases: First, a B2B customer that has a poor on-time payment record could be required to make advance payment for a current purchase, with Celonis tech driving such a dynamic approach to payments. This is another case of making the Celonis technology more available — in this case to the developer community — to embed in applications.
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