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Execution management, process excellence key to outrunning inflation, supply chain woes says Celonis co-CEO
"There are decades when nothing happens and then there are weeks where decades happen. If you look at the macro picture we are in those kinds of weeks."
That was the message delivered by Celonis co-Founder and co-CEO, Alexander Rinke at the Celonis World Tour 2022 kick-off event in San Francisco on Monday.
During a fireside chat hosted by Ray Wang, Principal Analyst and Founder of Constellation Research, Rinke said that increasing efficiency is the only way for companies to outrun rising inflation, supply chain constraints, potential recessions in the US and Europe and meet their sustainability goals. The way for businesses to get more efficient and unlock the next generation of business performance is with Execution Management and process excellence.
Celonis co-Founder and co-CEO Alexander Rinke and Ray Wang, Principal Analyst and Founder of Constellation Research at Celonis World Tour 2022
In the current difficult macro environment, Rinke said businesses need to transform much more quickly than in the past.
Celonis World Tour 2022: Everything you need to know
"We've all been focused on process optimization and efficiency for many years...and now they are much more relevant," Rinke said. "We've been advocating for process efficiency in an environment where money was free, there was no inflation and everybody was growing. That's over."
And process excellence means moving from purely analytics through process mining to execution management, especially in the supply chain. Companies will "need to take a hard look" at their supply chain and answer the following questions, Rinke said:
How much effort are we putting into each product, which ones are "money takers" and which are "money makers"?
How can we make our system more efficient?
How can we increase their reliability of our systems?
How can we automate things?
Rinke’s comments echoed those made by Dave Peterson, Celonis CMO, earlier that day during the World Tour 2022 keynote. Peterson explained how the next generation of business performance is defined by maximum value, across the top line, bottom line, and the green line. At the highest efficiency possible. The Celonis EMS (execution management system) delivers on all of this by revealing and fixing hidden process inefficiencies, he said.
Indeed during Peterson’s keynote, Evette Sheehan, Global Head of Shared Services at Uber, said the company, which has been a Celonis customer since 2018, saw $12M (US) in efficiency gains and enhanced customer satisfaction by optimizing average handling time, refunds and appeasements, and effective routing.
“We’ve just reported our second quarter of profitability… I can say confidently that Celonis has been a part of that,” Sheehan said.
Celonis World Tour 2022
Celonis World Tour 2022 features stops in 9 countries and 12 cities, including the Bay Area, Houston, Chicago, London, Tokyo, Munich, New York, Amsterdam and Paris. At each stop, Celonis customers, such as Mars, LEGO, LinkedIn, Bosch, Exxon Mobil, HP and more, will share best practices and knowledge for eliminating hidden process inefficiencies.
More:
Why inflation, supply chain, sustainability crises require Execution Management, efficiency gains
Supply chain optimization, sustainability are blending together
How inflation, supply chain and sustainability could drive efficiency gains
Process mining hits inflection point in 2022 as decision makers eye better execution
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