Celonis, the global leader in Execution Management Systems (EMS) and the Swiss-headquartered technology provider ALSO have announced the successful go live of the Celonis Execution Application for Accounts Payable. The App optimises cash flow, maximises cash discounts, minimises late payment penalties and frees up working capital. It is part of the new Celonis Execution Management System, enabling businesses to optimise execution capacity and close execution gaps.
ALSO, which is active in Austria, Belgium, Bulgaria, Croatia, Czechia, Denmark, Estonia, Finland, France, Germany, Hungary, Latvia, Lithuania, the Netherlands, Norway, Poland, Romania, Slovakia, Slovenia, Sweden and Switzerland with total net sales of nearly 11 billion euros, processes millions of invoices from suppliers annually. The new Accounts Payable Execution App from Celonis enables ALSO to optimise its financial performance by using AI to identify the causes of sub-optimal lead time in its invoice payment processes and then recommend or automate immediate remedial action. The application supports the ALSO team in creating streamlined, automated operational expense management, optimised working capital and improved overall profitability.
The Celonis Execution App for Accounts Payable allows ALSO to take full advantage of valuable cash discounts offered by many suppliers for early payment. As well as maximising these cash discounts, the Celonis application times invoice payments to match due dates. Eliminating late payment fees for overdue invoices and ensuring that invoices are paid on agreed dates frees up substantial amounts of liquidity for new business opportunities.
Gustavo Möller-Hergt, CEO of ALSO Holding, explains: "our supply business requires a great deal of precision to ensure profitability. The margins, particularly where hardware is concerned, can be very thin - and avoidable process errors quickly eat into profits. This is why closing any execution gaps in every area of our business is crucial to us. We have been working with Celonis since 2019 and appreciate the impact its software has on execution optimisation. This latest step to apply the new Celonis Execution Application for Accounts Payable in our finance department helps us eradicate the occasions when something does not happen in time."