Process inefficiencies can cost millions
is the headline of the news that the author of WTM News has collected this article. Stay tuned to WTM News to stay up to date with the latest news on this topic. We ask you to follow us on social networks.
Customer data demonstrates that companies are getting serious about not only solving and automating processes, but also finding ways to execute and perform better, especially amid global uncertainties.
This is the main conclusion of the Celonis World Tour in Spain, an event focused on digital transformation, efficiency and operational excellence within the new digital paradigm based on data and organized by Celonis.
“ANDl Execution Management is key to optimizing business processes and reducing costs in an agile and efficient manner. Currently, most companies worldwide are not capable of managing the large volume of data they have at their disposal and only take advantage of a small fraction of unstructured information”, explains Javier Díaz, vice president of the Iberia and LatAm region at Celonis.
Process mining and Execution Management
Process mining is a discipline that allows you to analyze and monitor business processes. This sector has grown exponentially in Spain in recent years, due to the need to reduce costs, increase efficiency and improve sustainability.
And it is that, inefficiencies in business processes reduce performance drastically. In fact, 1 in 5 orders are canceled due to out-of-stocks, and products are often shipped but not billed, leading to dissatisfied customers and lost revenue.
Inefficiencies in business processes can cost companies millions of euros
In this line, process mining and Execution Management also help mitigate the negative impact that inefficiencies cause to the planet. Supply chain inefficiencies, for example, are a major cause of the trillion-dollar global food waste crisis, with 1.6 billion tons of food lost or wasted each year, according to data from Boston Consulting Group.
Celonis in Spain
The company opened a hub in Madrid in September 2020. Spain is now one of the most important strategic enclaves in Europe for Celonis. These data demonstrate a growing interest of Spanish companies in process mining and Execution Management.
Its application means a reduction and optimization of expenses for companies, as well as the improvement of employee satisfaction and customer experience. In fact, the Celonis hub in Madrid has gone from having just one client in 2020 to almost 30 in 2022.
