TCS and Celonis Partner to Help Enterprises Adopt Process Mining to Drive Superior Business Outcomes
Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS), a leading global IT services, consulting and business solutions organization, and Celonis, the market leader in AI-enhanced process mining and process excellence software, have announced a new global partnership to help customers streamline their business processes for greater operational resilience and efficiency.
TCS will help customers adopt process mining to analyze processes, identify bottlenecks and exceptions, and optimize or redesign them with a greater leverage of intelligent automation. Process mining entails extraction of granular event data from the enterprise’s systems of records to reconstruct and visualize process flow across the enterprise, and use the power of analytics and machine learning to gain insights that can be used for process optimization and redesign.
The partnership will leverage Celonis’ Process Mining platform, which provides automated process discovery, mapping, control, and optimization capabilities, to target a broad range of areas such as finance and accounting, supply chain, procurement, human resource, customer service and industry-specific processes.
TCS will use the insights gained from process mining to transform those processes using its Machine First™ approach and harnessing the power of cloud, analytics, IoT, machine learning and AI technologies, to deliver superior business outcomes. In the current COVID-19 situation, where enterprises are looking to streamline cash flows, insights from process mining can be used to reduce late payments, shorten credit terms, and ensure error-free invoices in real time. Likewise, enterprises can make their supply chain operations responsive and adaptive by monitoring critical materials sourced from affected regions, and switch to alternatives from less affected regions.
“Process mining is the new force multiplier in enterprise operations. Combining it with our Machine First solutions, we will help customers accelerate the digital transformation of their business operations,” said Ashok Pai, Global Head, Cognitive Business Operations, TCS. “This partnership with Celonis brings together the strengths of both organizations to deliver exponential business value and enhance customer experience for global enterprises.”
“We are very excited to partner with TCS to create frictionless experiences and superfluid operations for global enterprises. This will help companies boost both their top line and bottom line by aligning, optimizing and transforming operations. This strategic partnership will help to significantly accelerate business transformation programs for our joint customers and improve value creation for organizations,” said Bastian Nominacher, co-Founder and co-CEO, Celonis.