AI-based technology for greater efficiency in procurement
Celonis – the market leader in AI-based process mining and process excellence software -today announced that it will support Funke Mediengruppe. Funke, a leading media company in Germany, will use Celonis’ software to analyze and improve its internal processes. This technology supports employees in carrying out their everyday work and constitutes an important pillar of the media company’s digitalization strategy.
With the aid of process mining, data within the company is processed in a way that creates transparency regarding internal processes as the first step. High-performance algorithms detect deviations from the planned, ideal process flow and identify major drivers. Company processes are thus being improved in the long run, which greatly contributes to automation and standardization within the Group.
Funke will first use Celonis to analyze and optimize the purchase-to-pay process. This area is of major relevance for the media company and thus an ideal starting point for a transformation driven by process mining.
“We want to make the most of the opportunities offered by digitalization to achieve full transparency for our internal workflows and maximize our business performance – which is why we’re using the technology from Celonis from now on,” says Michael Wüller, CFO at Funke. “Our goal is to strategically transform our procurement workflow. Well-thought-out and standardized procurement processes allow us to increase efficiency as well as the satisfaction level of all interest groups within the Group.”
“Funke Mediengruppe is one of the largest publishing groups in Germany and we are delighted that we are able to support it in optimizing procurement and driving forward its digital transformation with our technology,” adds Bastian Nominacher, co-founder and co-CEO at Celonis. “While procurement processes nowadays tend to already be digitalized and automated for the most part, they pass through a number of spheres of responsibility and IT systems. Our technology enables exceptions and deviations in the process flow to be detected and eliminated, reduces complexity, and boosts transparency and efficiency.”