Author: Wu Sijin
Editor: Wang Yutong
36氪 was informed that the enterprise-level executive management platform “Xuanxing Technology” recently announced an angel round of financing of tens of millions of yuan exclusively invested by Sequoia China Seed Fund, and Yuanhe Capital served as the exclusive financial advisor.
Execution management system (Execution Management System, EMS) originated from the German star enterprise Celonis, the company completed the D round of financing of 1 billion US dollars last year, with a valuation of more than 11 billion US dollars. The execution management system is composed of real-time data access, process mining, simulation and forecasting, daily process management and process automation.
The specific process is to collect and clean the information logs stored in the various information systems of the enterprise, restore the actual business flow of the enterprise through a visual view, and help the enterprise to find problems from the process variants that deviate from the standard process. Measure and optimize business processes. Then, the system implements process automation according to the preset process after modeling.
Xuanxing Technology reported in this article is positioned as the Chinese version of Celonis. Based on the experience accumulated by the team in the field of ToB product research and development in the past ten years, it has created a digital-intelligence transformation base for large enterprises, which can meet the rich business process scenarios and needs of enterprises. . The product modules that have been released now include data flow services, process mining, monitoring and alerting, and process automation. In the future, more product modules will be derived based on the digital intelligence base. Specifically:
Source: Xuanxing Technology
- Data flow service: connect internal and external systems such as corporate marketing, CRM, ERP, finance, HR, logistics, supply chain, etc., collect, clean and analyze data logs in real time, and realize multi-dimensional search and display.
- Process mining: Based on the engine and algorithm of process mining, it can visually restore the real-time business process variants of the enterprise, help enterprises discover loopholes, defects and bottlenecks in process performance, guide enterprises to find improvement directions, and avoid potential compliance and delayed delivery. and other execution risks.
- Monitoring and early warning: When it is not suitable for automatic operation, configure the way of man-machine combination, automatically assign tasks to corresponding decision makers according to the model, eliminate potential bottlenecks, and ensure the safe and effective operation of business processes.
- Process automation: In the improvement plan, for workflows that can realize automated operations, low-code technology is used to orchestrate, and later process operations are automatically triggered according to the model, supporting management and triggering other automation tools such as RPA.
According to reports, the service value of Xuanxing Technology has been preliminarily verified in the communication industry. Under the condition that customer marketing costs remain unchanged, through the implementation of the management system, the conversion rate of corporate orders has increased to 60%, and revenue has increased by 150%. In the next step, Xuanxing Technology plans to expand to intelligent manufacturing, finance and logistics industries.
However, compared with Celonis, which began to explore and practice process mining in 2011, the application of process mining in China is still at an early stage, and the implementation results in different fields are not yet clear. Process mining is mainly aimed at large enterprises and even super large enterprises with many business links, complex processes and a high degree of informatization. Compared with the existing professional consulting companies that optimize business processes through targeted interviews, the advantages of process mining are reflected in the process display. comprehensive, objective and timely.
It is in this way that process mining is showing a positive trend in terms of market prospects. According to Gartner, the market size of process mining can reach 1 billion US dollars in 2022, and maintain a compound annual growth rate of 33% in the following years, and will exceed 2.3 billion US dollars in 2025.
At present, there are not many players in this track in China. 36Kr has previously reported Rongzhi Information and Jiuke Information in the “RPA + Process Mining” mode, as well as Wangfanxin Technology , which focuses on the process mining mode. When talking about the differences and competitive advantages, Hu Shichao, CEO of Xuanxing Technology, said: The role of each other’s business models and process mining services is fundamentally different.
First of all, in terms of differences, the core value of process mining is to discover the deficiencies of business processes in real time through technical means, which is the goal of pure process mining companies;
RPA is also a category of business process automation. Currently, in the “RPA + process mining” model, the main purpose of process mining is to discover more potential scenarios that can be automated by RPA.
On the basis of the above, Xuanxing Technology’s “process mining + process automation” model focuses on enabling enterprise processes to perform business tasks in a timely, professional and efficient manner, helping enterprises to improve productivity, agility, efficiency and compliance in daily tasks , so as to ultimately improve the key indicators of the core business of the enterprise, such as improving the conversion rate, shortening the delivery time, increasing the revenue, reducing the cost, etc.; in terms of technical implementation, the process automation adopts the iPaaS integrated platform method, which covers a wider and more comprehensive range.
In terms of team, the founding team has profound knowledge and rich experience in Know-How, product capabilities and large-scale enterprise consulting and management in the target industry. CEO Hu Shichao once served as the global R&D director of UiPath, the highest-level Chinese executive, and served as the chief R&D manager of the cloud computing and artificial intelligence department of Microsoft headquarters; President Zheng Zhixian was the co-founder of Wande Information and former Hewlett Packard Enterprise Services Group (ESG) Consulting Director.
According to reports, this round of funds is mainly used for product research and development. Xuanxing Technology hopes to cut in from the perspective of process mining and become a solid foundation in the process of digital and intelligent transformation of enterprises.
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Related events
- Xuanxing Technology completes tens of millions of yuan in angel round financing, and Sequoia China Seed Fund invests exclusively2022-04-18
- Jiuke Information completed tens of millions of A round of financing2022-03-14
- Process automation robot startup Kryon receives $40 million in Series C financing2019-02-27
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