Celonis for Finance and Shared Services

Increasing productivity in accounts payable requires full visibility into AP processes, so you can identify where bottleneck, rework, or delays are happening. With Process Intelligence, you can zero in on why those are happening, and what you can do to increase productivity, impacting KPIs like first-time-right rate, throughput time, and ultimately DPO.

Improving shared services comes down to improving your processes. With a platform like Celonis, you gain visibility over your processes so you can automatically identify opportunities for enhancing cash flow, reducing costs, and automating recurring activities. You can then also drive continuous improvement in shared services more easily.

In the context of Global Business Services (GBS) and Shared Services Centers, process mining can help with standardizing and streaming operations and processes. Celonis Process Intelligence, with process mining built in, gives you end-to-end visibility so you can see inconsistencies, deviations, and non-compliant processes. With process intelligence you can automate improvement actions, so you can improve cash flow, reduce costs, boost productivity and enhance service levels. Process intelligence allows GBS and Shared Services Centers to make decisions with less risk and more reward.

Implementing a shared services model involves consolidating business functions into a single entity that supports the rest of the organization. To achieve that successfully, you need to ensure key stakeholder buy-in and create an effective change management plan. Celonis Process Intelligence provides end-to-end visibility so you gain a clear, objective overview of all the processes to be managed by your Shared Services Center. With a shared understanding of how the business actually runs, a Shared Services Center can fully connect to the business and create the value everyone needs across areas like cash, cost, productivity, service, and compliance.

Digital transformation enables finance departments to achieve strategic goals such as improving cash flow, reducing operating costs, and accelerating productivity. Digital finance transformation is important because it helps create a robust and resilient business. Celonis Process Intelligence provides total, objective visibility over a company’s processes, which allows teams to make precise decisions that accelerate and de-risk digital finance transformations.

The approach to finance transformation varies for every company but generally is about finding what isn’t working well and improving it to create value. Most finance departments need to speed up their transformation initiatives, while also hitting quarter-on-quarter cash flow, cost, and productivity goals. An effective approach to finance transformation is for a company to start by getting an in-depth understanding of how their processes run so they can make them more effective. Celonis Process Intelligence helps do this by providing visibility of processes and the ability to make effective changes to them for the good of finance transformation.