Celonis, the global leader in Process Mining, today announced the launch of the new Sailfin Accounts Receivable (AR) app suite, developed in collaboration with Sailfin Technologies, which Celonis acquired in 2022. These apps empower AR teams to operate at their highest level of efficiency, optimizing daily AR management to tangibly improve productivity and realize millions in cash savings.
The Sailfin AR apps are powered by the Celonis Process Intelligence Platform and leverage the standardized and unified process data and knowledge provided by the Celonis Process Intelligence Graph*. Their release underscores the growth of the Celonis platform ecosystem, with an increasing list of independent software vendors (ISVs) building their solutions on top of the Celonis Process Intelligence Platform.
“The Sailfin AR apps are a true value accelerator for Finance operations,” said Harit Nanavati, GM Accounts Receivable at Celonis and Founder & CEO of Sailfin Technologies. “Our customers get the benefits of Celonis’ superior Process Intelligence as well as Sailfin’s industry-leading AR capabilities. The result is a combined solution that’s better than the sum of its parts and 100% focused on helping organizations improve AR execution.”
The Celonis platform provides a single process intelligence layer that supports improvements, automation, and system transformation across all applications and enables organizations to eliminate system silos and drive process optimization across their value chains. With this robust process intelligence foundation, the Sailfin AR app suite is an evolution of the existing Celonis Premium Accounts Receivable apps.
The Sailfin AR apps suite includes:
- Collections Management app: Collect from a central application with a prioritized worklist and customer overviews; automate recurring tasks and streamline customer dunning
- Disputes Management app: Streamline dispute resolution with centralized tracking and intelligent workflows
- Credit Management app: Manage credit risk with smart, data-driven limits, real-time credit risk monitoring and integrated third-party data
- Cash Applications app: Automate the end-to-end cash application process, leveraging remittance aggregation, matching algorithms and dispute creation to free up valuable time and reduce churn
Intelligent automation infused with AI
In addition to Celonis’ process intelligence, the Sailfin AR apps leverage automation and AI to improve AR operations. Dunning is a prime example. A typical organization may send out hundreds of dunning letters, a request for payment, at any given time. Traditional AR software often requires team members to manually handle each response, switching back and forth between AR management and emails. The Sailfin AR apps support email inbox integration, enabling customer communication directly from within the app. Using AI, the apps can also determine the intent of customer inquiries and either respond automatically with a message, created using generative AI (GenAI), or alert a team member to take action.
Transforming daily AR operations, driving millions in value
Celonis and Sailfin have a proven track record of helping customers drive measurable improvements in AR operations.
CashLine, a consulting and services company focused on order-to-cash optimization, was able to reduce manual work, improve data uniformity and develop a daily dashboard with actionable insights. As a result, CashLine realized a 50% increase in collector efficiency, a 30% reduction in overdue AR and disputes, and a 12-day reduction in Days to Pay. These positive changes generated $38M in cash flow improvement and $1.2M in P&L savings.
“Sailfin helped us gain more visibility into our AR process, automate operations and improve team productivity, allowing us to refocus resources on research and analysis, instead of repetitive, clerical tasks like data aggregation,” said Ross Guthrie, VP of Business Development at CashLine.
TTI, Inc. a Berkshire Hathaway company and distributor of electronic components, used Sailfin to prioritize important tasks for AR team members, automate reminders, and create a holistic reporting solution. The company achieved a 20% reduction in % Past Due, a 95-100% increase in collections accounts coverage per day, a 40% increase in collector efficiency, and a 5-day reduction in Average Days to Pay. These optimizations delivered $14M in cash flow improvement and $1M in P&L savings.
“Sailfin provided consistency and control of our AR process, allowing us to realize major improvements in day-to-day operations. Team members can work more effectively, finding the information they need in fewer clicks and handling requests in less time,” said Steve Burns, Director Credit & Collections-Global Lead at TTI, Inc.
Business leaders recognize the value of optimizing AR for the present and future
Finance functions, like accounts receivable, are at the forefront of an ever-changing world where businesses must adapt to global economic and political turmoil, shifting customer expectations, evolving regulations and the emergence of new technologies.
According to The Process Optimization Report from Celonis, 77% of finance and shared services leaders feel process optimization grows in importance during times of economic instability. Likewise, 83% of finance and shared services leaders agree processes are their greatest lever for value and their fastest lever for change. But process optimization isn’t only about the now. AR teams that can transform their operations to accelerate value realization can help ensure their organization’s long-term financial health.
*The Process Intelligence Graph, announced at Celosphere 2023, combines Celonis’ Object-Centric Data Model and Process Knowledge Layer to create a system-agnostic, enriched digital twin of the business.
About Celonis
Since 2011, Celonis has helped thousands of the world’s largest and most esteemed companies yield immediate cash impact, radically improve customer experience, and reduce carbon emissions. Its Process Intelligence platform uses industry-leading process mining technology and AI to present companies with a living digital twin of their end-to-end processes. For the first time, everyone in an organization has a common language for how the business runs, visibility into where value is hiding, and the ability to capture it. Celonis is headquartered in Munich, Germany and New York City, USA with more than 20 offices worldwide.
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