Ahead of this week’s Celosphere customer conference in Munich, two announcements from Celonis gave clear indications of the company’s ambitions to expand the functionality of its platform and expand it into new use cases and industries.
The first announcement made today states that Celonis has acquired Symbioworld, a provider of AI-driven business process management software that complements the company’s flagship process mining software.
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Late last week, the company detailed its collaboration with the state of Oklahoma, which is the first US state to use its software to improve the management of taxpayer dollars. The state will use Celonis to improve internal budget controls and spending reviews across agencies. This is a clear example of how Celonis’ technology extends beyond core use cases such as accounts payable, procurement and inventory management.
Acquisition of Symbioworld
Through the acquisition of Symbioworld (terms were not disclosed), Celonis will enable its customers to design processes using a data-driven, system-agnostic approach that promises to eliminate the practice of designing processes in isolation and then taking steps to streamline and automate them the fact.
By combining the software of both companies, customers can analyze the flow of current processes and thus design optimal processes based on data. This can eliminate unnecessary steps and automate tasks to increase efficiency.
This could play a role in system transformations by enabling greater accuracy and precision in process understanding, mitigating unforeseen risks and enabling business users to make changes more easily.
The two companies have also launched an expanded version of their Process Cockpit, combining live process insights with data collected by Symbio into a unified experience. This is intended to ensure compliant process execution across the entire company by integrating core process KPIs into process models. Process Cockpit helps users drive fully guided system and process transformation programs while monitoring performance and adoption in real time.
A mutual customer, KARL STORZ SE & Co KG, pointed out the synergies between the products of both companies. “We are now able to redesign our processes based on the world’s best process insights,” said Etienne Kneschke, Executive Director, Business Process Management at KARL STORZ. “Process intelligence is the fundamental enabler for generative AI-based automation in companies [large language models] with the essential contextual understanding they need to understand how the company operates across systems, departments and regions.”
We will provide further analysis of this acquisition as further details become available.
State government financial use case
Oklahoma has used process mining in its Office of Management and Enterprise Services to provide stronger budget oversight. This came after an April 2023 report found that state agency purchases outside of central oversight exceeded $3 billion in fiscal year 2022.
“Within a week of implementing Celonis, we have data-driven insights to help us understand and address our key financial challenges,” said Joe McIntosh, Chief Information Officer at Oklahoma State. “That’s why Celonis is at the heart of our new risk, assessment and compliance task force, and its always-on process assessment and improvement mechanism is now integrated into the way we work.”
The state plans to review additional modules, including those that support accounts payable, grants administration and IT services management.
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