Celonis, the global leader in Process Mining, is recognized as a Leader in the Everest Group Process Mining PEAK Matrix® Assessment 2023 for the fourth year in a row.
As stated in the report, key highlights include:
- Celonis continues to dominate the market in terms of process mining software revenue.
- The company has the largest client base of process mining clients.
- Celonis has the highest market share by revenue in the top six verticals including manufacturing, BFSI, healthcare pharma, hi-tech telecom, professional services, and CPG retail.
- It continues to hold the highest share of the process mining market across most geographies, including Continental Europe, North America, the UK, APAC, and LATAM.
- Celonis holds the highest share of revenue across all buyer-size segments.
For more than a decade, Celonis has helped enterprises across every industry find and capture business value in their processes, enabling them to improve business performance, department and company-wide. The company has maintained its status as a Leader in Everest Group's PEAK Matrix® Assessment thanks to its clear vision, compelling product strategy and ongoing product innovations for instance, with the recent introduction of the next generation of process mining: object-centric process mining (OCPM).
With the release of Process Sphere at its annual Celosphere conference in November 2022, Celonis launched this revolutionary technology, which enables the analysis of interrelated business objects and events involved in business processes. Events are connected to objects instead of a single case, making it possible to easily and quickly view complex and interacting processes from all perspectives.
Celonis stands out as a leading vendor in the Everest Group Process Mining PEAK Matrix® Assessment 2023, offering enterprise-grade object-centric process mining capabilities.
Where traditional process mining allows you to analyze a single process (like accounts payable), it becomes extremely powerful when it's able to understand and optimize interconnected processes. Object-centric process mining provides a 3D view of how numerous processes work and interact (think: procurement's impact on production), and thus enables optimization across interconnected processes. If traditional process mining is an x-ray, then object-centric process mining is an MRI, providing a 3D view of a company's interconnected processes.
The Everest Group Process Mining PEAK Matrix® Assessment 2023 report outlines the distinguishing features of market success. Celonis holds the highest reported capability scores in seven out of eight assessment criteria including market adoption, portfolio mix, vision and strategy, process set-up and discovery, process intelligence, implementation and support, and commercial and sales model.
"With macroeconomic forces continuing to create a challenging climate for businesses across the globe, process mining has never been so critical," said Alex Rinke, co-CEO and co-founder of Celonis. "We are thrilled Everest Group has once again recognized our dedication to enabling every organization to capture hidden value inside its processes, and perform at levels they never thought possible. We continue to bolster our technology solutions with innovations like OCPM and relentlessly pursue the democratization of process mining, alleviating cost pressures businesses today face and helping them deliver fast, sustainable value."
"Celonis' position as a Leader on Everest Group's Process Mining Products PEAK Matrix® for the fourth consecutive year is underpinned by its strong vision and market presence, superior product capabilities, and continued investments in product innovation and thought leadership," said Amardeep Modi, Vice President at Everest Group. "Celonis' vision, product's ease of use, object-centric process mining, and ability to trigger actions are some of the key strengths highlighted by its clients."
Background of the Everest Group Research
Everest Group defines process mining as a type of analytics product that involves a fact-based approach to help discover, monitor, and optimize as-is processes by analyzing process-related information primarily from event logs generated by enterprise systems (e.g., ERP, CRM, etc.). The technology provides a data-based approach to process optimization through numerous applications and use cases spanning industries and process areas. This has led to process mining being and continuing to be one of the fastest growing markets in the Intelligent Automation (IA) space.
Adoption of process mining not only helps enterprises achieve traditional benefits such as cost savings and operational efficiency, but also opens avenues to target business/strategic outcomes such as top-line growth, accelerated digital transformation, enhanced customer experience, and sustainability. In order to support the enterprise objectives, products are rapidly evolving in the sophistication of their capabilities, features, and functionalities.
Everest Group's PEAK Matrix Assessment can be downloaded here.
About Celonis
Celonis enables customers to optimize their business processes. Powered by its leading process mining technology, Celonis provides a unique set of capabilities for business executives and users to continuously find improvement opportunities within and across processes, and execute targeted actions to rapidly enhance process performance. This optimization yields immediate cash impact, radically improves customer experience, and reduces carbon emissions. Celonis has thousands of implementations with global customers and is headquartered in Munich, Germany and New York City, USA with more than 20 offices worldwide.
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