Celonis & PwC extend partnership for business transformation

Celonis and PwC have announced an extension of their strategic partnership aimed at enabling business transformation through Process Intelligence.

Since their collaboration in 2020, Celonis and PwC have identified significant areas of trapped value, such as a project with a large medical device manufacturer where USD $94 million in value was realised across various process areas.

Specifically, USD $37 million was found in free cash flow by reducing blocked orders, USD $10 million from late deliveries causing delayed invoices, and USD $5 million in early deliveries to vendors.

Malhar Kamdar, Chief Customer Officer and Head of Ecosystems at Celonis said, "We are excited to embark on the next phase of our partnership with PwC. Together, we continue to deliver solutions that help companies leverage emerging technologies such as AI, meet growing customer expectations and adapt to evolving regulation. Leveraging Celonis Process Intelligence and PwC's advisory expertise, customers can transform business operations, increasing sustainability and delivering tremendous value."

A recent survey highlighted the urgency of transformation: the 2024 PwC Pulse Survey reported that 82% of US CEOs believe firms will not survive if they do not adapt to change.

The potential of the partnership is further illustrated by client case studies. For one German-based client, Celonis and PwC developed a supply chain solution allowing them to visualise material flows and identify opportunities for improvement. The initiative reportedly reduced the client's costs by over 1 million Euros annually and decreased carbon emissions by nearly 1,000 tons.

Christian Bartmann, Co-Head Centre of Excellence for Process Intelligence at PwC, noted, "Celonis is a key enabling technology for PwC as we work with clients to radically transform how they create, deliver and capture value."

"Just as Celonis is pushing beyond traditional process mining with its Process Intelligence Platform, PwC is pushing beyond conventional consulting with our Business Model Reinvention Framework. This new approach to business transformation uses human-led, tech-powered capabilities to help clients rethink and reinvent their business model."

Another example involves an American utility holding company where PwC used Celonis to improve the Procure-to-Pay process. They identified 2,500 hours of manual internal audit activities that could be automated, aiming for savings exceeding USD $2 million.

The partnership also proved beneficial for a large US mortgage lender. PwC, leveraging Celonis, identified improvement opportunities in ordering payoff statements from external creditors.

This process enhancement led to potential savings of up to 92,000 hours of time and reduced each loan's cycle time by 21 days.