LONDON, August 14, 2014 /PRNewswire/ --
Tungsten Network and
sharedserviceslink launch the results of their study into
the role of a Purchase-to-Pay Global Process Owner
The Global Process Owner (GPO) is a new and important position
within many organisations but recent research highlights that only
26% of people in this role can fully enforce the process they are
responsible for managing.
To shine a light on what it takes to be a successful
Purchase-to-Pay (P2P) Process Owner, Tungsten Network and
sharedserviceslink have launched the findings of an in-depth study.
The study reveals that to be effective, a GPO must:
- Balance ownership of the process with operations
- Enforce process compliance
- Secure senior management support
- Take responsibility for technology
- Build your change management and relationship-building
skills
The study's infographic shows that the primary goals for
people in this position are to standardise processes, improve
performance and support the business objectives. To achieve these
objectives, however, process owners need much greater influence
over technology priorities, solution design and resources. Indeed,
53% of respondents have no authority over their IT budget.
Enforcement is a key element for any process owner. The study
shows that GPOs with the ability to mandate change have
dramatically improved their performance against KPIs when compared
to respondents with little or no ability to influence change. When
focusing on straight-through processing, P2P GPOs with full
enforcement are more likely to improve performance against this KPI
by 41 percentage points than their peers.
Respondents also identified the skills they believe a model
process owner should have. Chief among them are change management,
communications and influence skills.
"Our findings underline the impact that fully supported and
empowered GPOs are having in an organisation," says Edmund Truell, Group CEO at Tungsten
Corporation. "With process standardisation and improvement at the
top of the agenda, it is no surprise that we support more and more
Global Process Owners."
Susie West, CEO at
sharedserviceslink, describes GPOs as superheroes. "Process Owners
need a unique mix of skills and capabilities to be successful,"
says West. "Our research gives GPOs invaluable benchmarks and
advice on how to deliver change that makes a lasting impact."
Visit the Tungsten Network website to see an infographic of the
findings, watch interviews with GPOs and download 'The 7 lessons
GPOs want you to learn', which offer insights direct from process
owners themselves.
About Tungsten Corporation plc
Tungsten Corporation (LSE: TUNG) accelerates global trade by
enabling customers to streamline invoice processing, improve
cash-flow management and make better buying decisions from their
detailed spend data.
Buyer organisations that join Tungsten Network, built on OB10
e-Invoicing, can reduce their invoice-processing costs by 60%.
Suppliers benefit from efficiencies, greater visibility of their
invoice status and peace of mind. Tungsten offers supply chain
financing through Tungsten Bank to suppliers and helps buying
organisations profit by applying real-time spend analytics to its
vast repository of line-level invoice data.
Tungsten serves 55% of the Fortune 500 and 67% of the FTSE 100
by connecting the world's largest companies and government agencies
to their thousands of suppliers around the globe. It is compliant
in 46 countries, and processes transactions worth over $187bn per year for organisations such as
Alliance Data, Aviva, Cargill, Deutsche Lufthansa, General Motors,
GlaxoSmithKline, Henkel, IBM, Kellogg's, and US Federal
Government.
Tungsten Corporation joined forces with OB10 in 2013 to create
the world's largest electronic trading network.
Contact: Sandra Higgison, Head of
Global Communications, +44-20-7280-7973,
sandra.higgison@tungsten-network.com.