Celonis, a fast-growing German process mining software startup, has struck a strategic partnership with IBM to help companies make the most of the digital transformation that many are undergoing at speed.
IBM’s Global Business Services consulting arm will weave the Celonis Execution Management System into its offering, adding the ability to analyse data thrown off by processes like supply-chain management, finance or procurement to identify weaknesses and recommend fixes.
Celonis will also shift its software stack to IBM’s Red Hat OpenShift platform, which enables companies to operate in an open ‘hybrid’ setting that can include public or private cloud data centres, on-premise servers and mainframe computers.
That represents a big step for the Munich startup, which last raised funds here from investors at a valuation of $2.5 billion in 2019 and counts Coca-Cola, Siemens, Uber and Vodafone as clients.
A typical large company runs more than 1,000 processes with the use of technology, often in different computing environments, creating complexity that makes it hard to bring about change.
Weaving Celonis into IBM’s consulting offering can help clients to identify where the value can be found across a range of applications, making it possible to benchmark performance, deploy artificial intelligence or trigger automation.
Celonis has doubled bookings and revenues over the past year, and Milano said the partnership offered an opportunity to accelerate its growth further.