Globality recognized by leading analyst firm for its AI-powered platform and marketplace
Globality, the company that is transforming the way high value services are bought and sold with its leading AI-powered digital solution, announced it has been recognized as a Cool Vendor in the Gartner newly released 2021 report “Cool Vendors™ in Strategic Sourcing Technology.”1
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We are pleased to be recognized as a Cool Vendor by Gartner for bringing AI and state-of-the-art digital solutions to the sourcing and procurement of services, an area that has been untouched by technology and characterized by archaic, analog processes
Key findings in the report include:
- Even though the average procurement organization achieved a cost savings goal of 4% in 2020, at least 60% of organizations are under pressure to increase cost savings even further.
- Top tactics to achieve cost savings include deploying technology to automate processes and collaborating with suppliers to identify opportunities.
- AI and analytics are popular topics in procurement, and vendors are incorporating machine learning and virtual assistants, with success in targeted use cases.
Globality’s Platform is used by leading global companies, including British Telecom, Santander, HSBC, GEA, and Dropbox, to transform the sourcing of high-value services by automating the demand creation, supplier identification, proposal evaluation and statement of work creation process through an intuitive self-service experience.
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“We are pleased to be recognized as a Cool Vendor by Gartner for bringing artificial intelligence and state-of-the-art digital solutions to the sourcing and procurement of services, an area that has been untouched by sophisticated technology and characterized by archaic, analog processes, such as the paper-intensive RFP,” said Joel Hyatt, the Chairman, Co-founder and CEO of Globality. “Globality is advancing the concept of ‘Performance Spending,’ which acknowledges the huge impact of a company’s spend on its overall performance and its ESG goals. We are proud to be partnering with great Global 2000 companies on building a global ecosystem for B2B trade in services that is transparent, sustainable, and based on the merits of price, quality and performance.”