Published on November 16, 2023, 7:42 pm

In a recent series of announcements, Celonis has showcased its desire to broaden the scope of its platform and venture into new industries. The latest development is the acquisition of Symbioworld, an AI-driven business process management software provider that complements Celonis’ flagship process mining software. This move will allow customers to design processes using a data-driven approach, streamlining and automating them based on real-time analysis. The synergies between the two companies’ products have also led to the launch of an enhanced version of their Process Cockpit, merging live process insights with data gathered by Symbio for unified compliance and performance monitoring.

Celonis’ expansion beyond traditional use cases is exemplified by its collaboration with the state of Oklahoma. As part of their efforts to improve taxpayer fund management, Oklahoma has become the first US state to utilize Celonis software. By implementing Celonis’ technology, they aim to enhance budgetary control and spending reviews across agencies. This demonstrates how Celonis is evolving from core applications like accounts payable, procurement, and inventory management.

The acquisition of Symbioworld signifies a significant step forward for Celonis in terms of improving process understanding and enabling system transformations. With a focus on data analytics and automation, this partnership will facilitate accurate process design and mitigate risks for business users.

These developments highlight the importance of AI in driving automation and efficiency. Etienne Kneschke, Executive Director at KARL STORZ SE & Co KG, emphasized that process intelligence is fundamental for generative AI-based automation as it provides contextual understanding necessary for large language models to function effectively within enterprises.

Oklahoma’s adoption of process mining further highlights the versatility of Celonis’ platform in different industries. Following a report revealing extensive purchasing outside central oversight in 2022, Oklahoma implemented Celonis to gain data-driven insights into financial challenges and improve budgetary oversight. Joe McIntosh, Chief Information Officer for the State of Oklahoma, commended Celonis for its always-on process assessment and improvement mechanism, which has become integral to their operations.

The Celonis-Symbioworld acquisition and collaboration with the state of Oklahoma are clear indicators of Celonis’ ambition to expand its functional reach and cater to a broader range of industries. With an increased focus on data-driven insights, automation, and performance monitoring, Celonis is well-positioned to meet the evolving needs of businesses in today’s fast-paced technological landscape.

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