Where World-Class Begins
Success can be hard to come by. It’s more than a matter of having great ambition or taking risks.
As observers of those who have found major success – the sort of world-class performance that defines industry standards - we rarely see all the work that goes on behind the scenes, and the infrastructure that enables those results. We often only get to appreciate the finished article, wondering what it is that we aren’t doing to reach that same level.
There isn’t a definitive answer. We can choose to increase our offerings to customers – chasing results, often at higher costs or alternatively, we can look inwards, at the way we work and, critically, where we might be limiting potential growth.
The advances we’ve seen in the front-office – increasingly convenient, cost-effective and innovative services are incredible feats. However, they’re only possible when that front-office is built on a foundation equally as advanced and efficient.
Frankly, the road to world-class is a winding, and complex one, so the foundation needs to be right.
The first steps of the journey often seem the most daunting. I see business networks like Tungsten Network as the enabling force behind those steps and, eventually, the long-term partnering power that guarantees better outcomes for the people that matter most; the clients and customers who use your services.
In the modern world, a business shouldn’t be driven purely by a desperate need for ownership. The outcomes for the whole community are vitally important. This is what should really motivate an end-to-end technological transformation. What we do here at Tungsten Network by completely digitising invoices for AP and AR departments provides the foundation and ecosystem for integrating and connecting systems.
The partnering model is one practised regularly in the technology industry, and for good reason. It’s an expedited driver of growth compared to more traditionally closed-off ecosystems that face every challenge, and undertake every innovation project, alone.
In truth, partnerships are not a dirty word and when done right they can be a force for great change and value creation, especially when we join forces with leading players along the cost-to-value journey.
All businesses really want from P2P technology is the ability to effectively manage cash flow.
Once we leverage invoice data and throw that into that mix – whether you’re just looking at cost reduction or real higher-value through analytics – the combination of insight these tools provide is critical to a complete digital journey from supplier to buyer.
It’s a journey that leads in one direction – to the sort of success that redefines businesses, industries and client experiences.