Celonis, the global leader in execution management, unveiled a new set of Celonis execution management applications for collections management, credit management, and dispute management.
These apps are designed to optimize Accounts Receivable (A/R) and to specifically help companies boost their working capital and reduce costs. They will help customers combat the pressures of inflation, cash preservation, and working capital reduction. By discovering hidden process inefficiencies in all areas of Accounts Receivable customers can discover new opportunities for cash and time savings.
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These new Celonis applications were developed in conjunction with acquired technology from Sailfin. These new solutions combine Celonis’ market-leading process mining and execution management technology with Sailfin’s technology and expertise to give customers innovative, secure and powerful solutions to accelerate cash conversion while reducing operating costs.
The new Celonis Accounts Receivable apps help businesses:
- Manage Data Complexity: Celonis provides companies with a single source of relevant customer, balance, contract, and process data, eliminating source-system fragmentation by integrating data at scale and in real-time across transactional and analytical systems.
- Reduce Reactive Decision-Making: Celonis equips A/R teams with intelligent prioritization that accounts for risk factors along with an assessment of customers and balances. Data-driven insights help collectors cut through the noise, reduce their reliance on gut-instinct and systematically pursue the most impactful actions, thus improving working capital.
- Eliminate Recurring Manual Work: Celonis helps streamline and automate collections, dispute, and credit processes, giving teams time back. Common manual steps like dispute coding or credit approvals are simplified or automated. Team orchestration is streamlined across hierarchy levels; escalation decisions are guided by data and process intelligence.
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“The new Celonis Accounts Receivable credit app enables our credit analysts to focus on higher-value work,” said Michael Kleffmann, Head of Global Accounting at Harting. “It allows us to take a much more proactive approach to our processes, so that we know how to do the right things, at the right times, increasing employee and customer satisfaction. Because it leverages data already in our system, credit analysts can get right to focusing on the actual task of making a good decision, not wasting time on data collection and interpretation – positively impacting productivity. We have already seen a 35% decrease in manual credit changes. We are very excited about the A/R credit app.”
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