Execution Management is enterprise software that acts as an intelligent orchestrator using process mining, machine learning and automation to optimize business performance. It’s rapidly becoming an essential part of the IT stack as companies grapple with the current economic headwinds of rising inflation, supply chain disruptions and a potential recession in the US and EU.
Indeed, execution management is key to outrunning inflation and supply chain woes, said Celonis Co-Founder and Co-CEO Alexander Rinke, at the Celonis World Tour 2022 event in San Francisco.
For many however, Execution Management is the most important business discipline they’ve never heard of. That’s a mistake when research from Forrester and Celonis shows that the average individual business process spans over 10 systems, but only 16% of businesses said they have total process visibility. If you can't see your processes, you can’t fix the broken ones. And don’t kid yourself, process gaps exist in almost every business. Data doesn’t lie.
The State of Business Execution Benchmarks Report 2021, a survey of 2,000 business leaders in six countries and across eight industries, found that the difference between the average company and market leaders for KPIs, such as on-time delivery rate, net promoter score, and days payable outstanding (DPO), was staggering.
For example, Amazon achieves a 98.9% on-time delivery rate in the supply chain, while the average is 48.5%. The average net promoter score is 31 compared to leading companies that score as high at 97. And for DPO (a key metric for Accounts Payable teams), top performers have a DPO number of 74.5 days, while the average is 48.4 days. Performance gaps like these can cost companies hundreds of millions of dollars; a painful situation in times of cheap money, low inflation and hyper growth, but an existential threat in the current macroeconomic environment.
It’s time for IT professionals, data scientists, business analysts and executives to start their execution management journeys, and Celonis Academy has the perfect starting point–the free Celonis Kickstarter course.
The Celonis Kickstarter will introduce you to Celonis and Celonis EMS (Execution Management System). Updated in June 2022, the course explains how process mining and task mining work, explores the components of EMS (Analyses, Apps and Action Flows), and shows you how to identify business use cases for EMS within your own organization.
The Kickstarter course is designed to take between 45 minutes and 1 hour, and you can learn at your own pace, stopping and starting as necessary. At the end of the course, you’ll be awarded a Celonis Digital Badge and learn how to continue and customize your Execution Management education with other Celonis Academy courses and training materials.
Celonis Academy offers over 300 courses and 2,000 hours of training to help you learn the process mining, process management, and execution management skills that today’s employers are looking for…all online and all for free. For more information about the on-demand training courses and learning material available from Celonis, check out the following resources:
Process Mining: From Theory to Execution (free 10-hour, on-demand course developed by Celonis and the Process and Data Science (PADS) group)
What is Task Mining? (free 4-min video introduction to task mining)
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If you want to help build the execution management and process mining systems that will be part of every enterprise IT toolkit, come work for Celonis!