Berlin, October 6 (Reuters)-The two companies said on Wednesday that the US technology platform ServiceNow is establishing a strategic partnership with the German software company Celonis to help customers identify workflows that can be automated.
The partnership includes ServiceNow’s unspecified investment in Celonis and the integration of ServiceNow’s workflow platform with Celonis’ execution management system, which processes data to solve problems and automate decision-making.
Celonis is a competitor of the German business software company SAP and has grown into the country’s most valuable start-up company. It raised $1 billion from investors in June, bringing the company’s post-financing valuation to more than $11 billion.
Co-CEO Alexander Rinke co-founded Celonis with his classmates from the Technical University of Munich in 2011. He told Reuters that the partners will launch joint products as early as the first half of 2022.
ServiceNow CEO Bill McDermott (Bill McDermott), who led SAP for ten years before 2019, said he looks forward to working with Rinke: “We have known each other for many years and have been good friends for a long time.”
McDermott compares Celonis’ work to X-rays, showing what has been damaged and what needs to be changed: “ServiceNow will build on this a new process.”
Celonis initially developed and sold process mining software that enabled customers to analyze the large amounts of data generated by modern company operations and find ways to improve business processes.
After acquiring Czech counterpart Integromat last year, it was renamed the Executive Management Platform and will invest the proceeds from the recent fundraising to enable its software to provide better advice and make more informed decisions.
McDermott sees this cooperation as an opportunity for ServiceNow to gain a foothold in Germany. “Germany is my second hometown,” he said. (Reporting by Nadine Schimroszik, writing by Emma Thomasson; editing by Steve Orlofsky)
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