Silico, a London-HQed business process simulation company, has struck up a strategic alliance with Amsterdam's Arcwide, a business transformation outfit tied to business cloud IFS. The partnership is set to deliver live digital twins presented as adjustable flow diagrams which monitor a company's key workflows, enabling adjustments to be stress tested.
Arcwide promises "end-to-end" digital consulting supported by IFS's cloud for the delivery of digitised enterprise workflows such as digital banking, threat intelligence and automated claims processing in insurance. Founded last year as a partnership between IFS and independent consulting firm BearingPoint, the company reportedly already provides digital twins in select vertical industries, including commercial aviation and oil and gas.
Joining forces with Silico will let Arcwide serve more verticals with digital twins driven by the existing Silico suite of business process simulations, which offer constant barometer on the client's operational performance.
The new digital twins will deploy AI to stress test future business scenarios, predicting the likely impact if certain business procedures were altered. Once stress tested, outcomes could also be implemented automatically through the use of automated control systems, Silico said.
It is hoped the digital twins product will build on existing enterprise resource planning (ERP) software, which enables a degree of visibility on key operational resources.
According to Silico traditional ERP yields variable KPI results and only in specific areas of business such as lead times, revenues and supply chain security.
The use of digital twins for resource planning would allow enriched scenario planning given the availability of a comprehensive stream of real-time operational data.
Silico's CEO, John Hill, said he looked forward to distributing ERP-led transformation powered by his company's technology in Arcwide's cloud consulting pipeline.
"Arcwide’s unique expertise in IFS transformations combined with Silico’s Business Process Simulation platform unlocks bespoke ERP transformations tailored to deliver the best outcomes to our joint customers based on insights from a digital twin of the enterprise," Hill said, "With Silico, Arcwide is able to better design, monitor and implement ERP transformations to achieve better outcomes for the customer.”
Arcwide's regional lead for Germany, Austria and Switzerland, Dr. Philipp Fahr, added: "We are delighted to agree on a partnership with Silico and look forward to providing our customers with an enhanced service offering in the delivery of business transformations.
"With Silico we have gained a strong partner for business process simulation, who can build end-to-end digital twins of business processes to increase efficiencies, optimize processes, and simulate business outcomes into the future“