Celonis ranks 13 in Forbes Cloud 100, ProcessMaker wins Stevie® Awards & more – PEX Vendor News

Rockwell Automation reveals third quarter results, Accenture and S&P launch generative AI learning program, Cytora and Xapien streamline insurance underwriting processes

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Michael Hill
08/14/2024

PEX Network’s weekly bulletin rounds up the latest industry vendor news including product releases/updates, mergers and acquisitions, partnerships and leadership changes.

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Celonis ranks 13 in Forbes Cloud 100, appoints new North America chairman

Process mining and process intelligence leader Celonis placed 13 in the Forbes Cloud 100 2024 list, which ranks the top 100 performing private cloud companies in the world. “We are honored to be recognized on this year’s list for shaping the future of enterprise AI and will continue to focus on bolstering our process intelligence platform with new innovations that deliver deep and lasting value to our customers,” commented Alex Rinke, co-CEO and co-founder of Celonis.

Celonis also announced that Mike Kaufmann, former CEO of Fortune 15 company Cardinal Health, will step into to the role of chairman for North America. Kaufman previously served as a member of the Celonis customer advisory board. “There has never been a more critical time for enterprises to make their processes work,” Kaufmann said. “The rapid pace of change all companies are facing to not only keep up with their peers and competitors, but improve their business processes for people and the planet, keeps accelerating. I look forward to partnering closely with the Celonis leadership team and our customers so they can realize similar levels of value I have witnessed so far, and to work together to continue to push the limits.”

ProcessMaker wins Stevie® Awards for excellence in education technology

Business process automation and intelligent document processing (IDP) vendor ProcessMaker was named winner of two prestigious 2024 Stevie® Awards for technology excellence in education. The Stevie® Awards celebrate the accomplishments of individuals, teams and organizations shaping the future of technology across all industry sectors. ProcessMaker’s Transfer Credit Enrollment (TCE) automation platform was awarded Gold for “Best Product of the Year” and Silver for “Breakthrough Technology of the Year” in the Education Technology category, according to a press release. ProcessMaker TCE utilizes AI-powered intelligent document scanning, processing, synthesis, analytics and reporting to match a student with relevant programs, classes, degrees and instructors.

“We are absolutely thrilled to receive these prestigious Stevie® Awards in such an important category” said Alex George, CEO of ProcessMaker. “Today’s HED institutions want to provide exceptional experiences for all students, and we take pride in providing an innovative automation platform that helps registrar and admissions teams present transfer students with the best possible options that optimize credits while minimizing time and complexity.”

ProcessMaker also appointed Krishna Vallabhaneni as its new chief financial officer (CFO) to accelerate financial growth. “Krishna has an exceptional track record of driving strategic initiatives, applying operational excellence and establishing proven financial models for success,” stated George. “I am excited to have Krishna join our team, and together we will help take ProcessMaker to even greater levels of success.”

Accenture and S&P Global launch generative AI learning program

Accenture and S&P Global formed a new strategic collaboration to fuel generative AI innovation. This includes initiatives to empower customers and S&P Global’s workforce to adopt and use generative AI technology at scale. S&P Global stated that is equipping all 35,000 of its employees with the necessary skills to leverage this transformative technology through a comprehensive learning program that will be rolled out in August. The companies also plan to work together to enhance AI development and benchmarking solutions, according to a press release. “AI is for everyone, and at S&P Global, we want to empower our people and our customers to adopt, build and innovate with gen AI,” said Bhavesh Dayalji, S&P Global’s chief AI officer. “We are partnering with Accenture to ensure that our people and our customers are not only prepared for the generative AI transformation, but are ready to lead it.”

An AI-ready workforce that can effectively deploy and scale the technology simply does not exist today – it must be created, added Lan Guan, chief AI officer at Accenture. “Leaders like S&P Global are taking the right steps to train and upskill their people and reinvent themselves for the era of gen AI.”

Rockwell Automation reveals third quarter 2024 results

Robotic process automation (RPA) vendor Rockwell Automation published its third quarter fiscal 2024 results. Fiscal 2024 third quarter sales were over US $2 million, down 8.4 percent from the same period last year, while total annual recurring revenue (ARR) was up 17 percent year-over-year. Other key results include:

Cash flow generated by operating activities 2024 was $279 million, compared to $282 million in 2023.
Diluted earnings per share (EPS) of $2.02, down 41.4 percent,
Adjusted EPS of $2.71, down 10 percent.

“Rockwell delivered another quarter of good execution with sales, margin and EPS all above our expectations,” commented said Blake Moret, chairman and CEO of Rockwell Anywhere. “I’m particularly pleased with the progress we are making on driving productivity to support our long-term margin expansion targets. We are already seeing the benefit from these actions this fiscal year and expect to drive margin growth and productivity through FY25 and beyond.”

FranConnect elevates operational excellence for multi-location businesses

Operations, sales and marketing solutions provider FranConnect launched the Operator and Frontline Employee Engagement solution to enhance operational excellence. The new solution empowers multi-location businesses to develop and deploy highly customized branded content to support operator and front-line employee training for improved onboarding and engagement, enabling brands to track engagement success at the unit-level, according to a press release. Operations teams will be better equipped to deliver and monitor best practice training, access up-to-the-minute data, staff training results, performance appraisals and satisfaction surveys with benchmark reporting, it added.

“We are addressing a huge barrier to growth for multi-location businesses, which is poor customer experiences stemming from ineffectively trained operators and frontline employees,” commented Gabby Wong, CEO of FranConnect. “Our learning and development capabilities are now fully embedded into FranConnect’s operational platform, and therefore employee development playbooks, learning pathways and engagement best practices can be informed, created and deployed based on operational goals and performance analytics from across the brand.”

Cytora and Xapien partner to streamline insurance underwriting processes

Digital risk processing platform Cytora announced a new partnership with due diligence company Xapien to streamline underwriting processes. The integration will enable commercial insurance underwriters to access Xapien’s AI-powered due diligence tool via Cytora’s risk processing platform. This will remove the need to manually check scores of data sources for potential risks, according to a press release. It will also enable insurers to operationalize data more broadly across their lines of business and more effectively through their multi-step workflows from submission to quote, it added. The result is faster and more accurate processes which enhances the experience for both insurers and their clients.

“Partnering with Cytora is a milestone for us as we continue to establish our presence in the insurance sector,” said Dan Secretan, co-founder and chief operating officer (COO) at Xapien. “Underwriters with access to rapid, automated due diligence reports on potential policyholders are able to make more informed, risk-based decisions, leading to more accurate pricing.”

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Topics: Automation Process Mining