GLOBALITY RECOGNISED BY GARTNER® AS 2021 COOL VENDOR FOR STRATEGIC SOURCING TECHNOLOGY

KUALA LUMPUR, Nov 23 (Bernama) -- Globality, the company transforming the way high value services are bought and sold with its leading AI-powered digital solution, has announced its recognition as a Cool Vendor in the Gartner newly released 2021 report ‘Cool Vendors™ in Strategic Sourcing Technology.’

Key findings in the report include that even though the average procurement organisation achieved a cost savings goal of four per cent in 2020, at least 60 per cent of organisations are under pressure to increase cost savings even further, while top tactics to achieve cost savings include deploying technology to automate processes and collaborating with suppliers to identify opportunities.

Another finding is that 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.

“We are pleased to be recognised 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 characterised by archaic, analog processes, such as the paper-intensive RFP,” said Joel Hyatt, the Chairman, Co-founder and CEO of Globality in a statement.

“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.”

In January, Globality, a Silicon Valley-headquartered technology company co-founded by Hyatt and Lior Delgo, raised US$138 million from Sienna Capital and the SoftBank Vision Fund, bringing the total investment it raised since its founding six years ago to US$310 million. (US$1 = RM4.186)

For more information, visit www.globality.com.

-- BERNAMA