Frequently Asked Questions
How do you increase productivity in accounts payable?
Increasing productivity in accounts payable starts by identifying where bottlenecks, rework, or delays are happening. This is where Celonis Process Intelligence can help. Celonis lets you identify where these things are happening — and why — so you can make precise decisions about how to increase productivity and impact KPIs like first-time-right rate, throughput time, and, ultimately, days payable outstanding.
How can shared services be improved with Process Intelligence?
With a Process Intelligence 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.
What is process mining in Global Business Services (GBS)?
Process mining can help standardize and streamline operations and processes in Global Business Services (GBS) and Shared Services Centers. Celonis Process Intelligence, with process mining built in, gives you end-to-end visibility so you can see inconsistencies, deviations, and non-compliant processes. You can also improve cash flow, reduce costs, boost productivity, and enhance service levels by removing redundant activities and speeding up work with automation.
How do you implement a shared services model?
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.
Why is digital finance transformation important?
Digital transformation in finance departments creates a robust and resilient business by improving cash flow, reducing operating costs, and accelerating productivity. 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.
What is the best approach to finance transformation?
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.
