Global e-invoicing provider, Tungsten Network has gained a better understanding of client facing project performance, with the implementation of Project Portfolio Office’s online project portfolio management (PPM) and collaboration application, PPO.
The rollout has provided Tungsten with greater transparency around the value and costs associated with external projects, and enhanced its visibility and governance around change activity within the organisation.
Tungsten Network’s Head of Buyer Implementation explained that the company’s growth plans highlighted the need for it to determine the value of each customer account – from the perspectives of resource utilisation, time management and project cost. “As a business that works primarily with major professional services companies, it had become critical that we remove the friction from our operations in order to deliver increased value to our customers.”
“We also began significant change activity around 24 months ago, undertaking a significant number of projects,” he adds. “At the start of Tungsten’s change management journey, we had limited visibility on our project performance, and were experiencing constraints on our critical resources. We needed the capability to understand our delivery effectiveness and resource management
After implementing a formal project office as a first step in solving these issues, we realised that more automation was needed to resolve these challenges, as well as providing a frictionless reporting process.”
Tungsten Network’s CFO, who spearheaded the search for a PPM tool to meet these criteria, identified PPO’s online project portfolio management tool and following an in-depth evaluation of the tool alongside similar products selected PPO as the tool for Tungsten. During the evaluation, the close alignment between Tungsten’s requirements, PPO’s functionality and both organisation’s business models became obvious and an implementation project was commissioned, rolling out PPO to more than 150 global users.
Since then, PPO has helped Tungsten to better understand client-related projects by providing greater visibility into delivery performance and, at the same time, improving governance around change activity. In summary, it shows the value these projects are delivering to the company.
Utilised by Finance, Sales, Buyer Implementation, Customer Relationship Managers and Development functions, Tungsten has two key objectives from PPO: firstly as a single repository that enables the systematic management and reporting of project information and delivery performance across the organisation; and secondly, as a platform to capture and report critical resource utilisation and future resource demand forecasting.
According to the Head of Buyer implementation, the organisation has taken a phased approach to its PPO rollout, due to two distinct drivers: “Phase one of the implementation, which focused on gaining a better understanding of project performance as well as critical resource utilisation, was completed almost one year ago. More recently Tungsten expanded its use of PPO to include client relationship and service delivery managers, which has created a greater understanding of the costs attributed to servicing clients”
Guy Jelley, CEO of Project Portfolio Office said, “One of the most significant success factors in Tungsten’s approach has been the close involvement of its executives. The organisation plays a key role within the global financial services space and we look forward to growing our relationship as PPO’s reach is extended within different areas of the organisation. In addition, the decision to use PPO’s standard project office offering as close to out the box as possible and focus on user adoption was key to the quick time to value for Tungsten.”
About Tungsten Corporation:
Tungsten Corporation (LSE: TUNG) aims to be the world’s most trusted business transaction network by using data intelligently to strengthen the global supply chain.
Tungsten Network is a secure e-invoicing, purchase order services and workflow platform that brings businesses and their suppliers closer together with unique technology that revolutionises invoice processing, maximises efficiency and improves cash flow. Delivering trusted connections and streamlined transactions, the network also provides users with real-time spend analysis and offers suppliers access to invoice financing through Tungsten Network Finance, a form of alternative finance for businesses.
Tungsten Network processes invoices for 67 percent of the FTSE 100 and 76 percent of the Fortune 500. It enables suppliers to submit tax compliant e-invoices in 48 countries, and last year processed transactions worth over £155bn for organisations such as Alliance Data, Cargill, Deutsche Lufthansa, General Motors, GlaxoSmithKline, Mondelēz International, Henkel, IBM, Kellogg’s and the US Federal Government.
Trusted, passionate and proven, Tungsten is making the digitisation of global commerce between buyers and suppliers faster, easier and smarter.