As the year draws to a close, it’s an ideal moment to reflect on the transformative impact of AI-driven autonomous sourcing—not only on the bottom line amid continued economic uncertainty but also on people’s lives across the globe. In 2024, organizations that embraced this next-generation technology have achieved incredible results, driving growth and efficiency while delivering tangible, life-changing benefits to individuals and communities.

Driving Speed-to-Market for New Healthcare Treatments

In 2024, Globality helped increase the speed of the clinical development cycle at a €5bn Pharma company, using the power of native-built AI to ensure novel therapies were with patients quicker, giving them new hope for conditions such as auto-immune and other rare diseases.

In healthcare, where every second counts, autonomous sourcing has enabled global life sciences companies to scale their procurement operations and uncover new opportunities. For instance, one leading life sciences organization increased the amount of spend competitively sourced by an astonishing 500%—and did so without needing to add a single new member to its procurement team. By leveraging AI, it optimized workflows, reduced manual effort, and focused on what matters most: delivering innovative solutions to patients worldwide.

Helping Families Through the Cost-of-Living Crisis

Closer to home, AI-driven sourcing is also helping consumers at a more immediate level. As the cost-of-living crisis continues to impact families across Europe, Globality’s platform has enabled one of the continent’s leading grocery retailers to maintain low prices for essential goods. By optimizing supplier selection and negotiating better terms through AI, the company ensured that families could afford a little more during the holidays—whether it’s a special meal or gifts for loved ones.

This highlights how procurement, when powered by advanced technology, extends far beyond the back office. By reducing costs and increasing efficiency, businesses can reinvest savings into keeping products affordable, supporting their customers, and delivering greater value when it’s needed most.

Transforming Procurement Operating Models

While these individual successes are powerful, the broader trend is equally transformative. Leading global enterprises have used autonomous sourcing to revolutionize their procurement operating models, empowering teams to do more with less. These organizations have proven that AI can help drive enterprise-wide growth while allowing procurement to evolve into a more strategic, value-adding function.

Consider the following examples of how top organizations are redefining procurement:

• A global life sciences company increased competitively sourced spend by 500% using the same team, demonstrating the power of AI to enhance efficiency without adding headcount.
• A Fortune 500 asset management company automated more than $400 million of spend within just two quarters, freeing up resources to focus on strategic initiatives.
• A leading market retailer leveraged autonomous negotiations to achieve $100 million in savings, unlocking value that could be reinvested elsewhere in the business.
• A top healthcare company empowered its business stakeholders to run over 1,500 sourcing projects autonomously, enabling procurement talent to focus on developing category strategies and strengthening business partnerships.

These examples underscore a critical shift: procurement is no longer just about cost-cutting. It’s about driving measurable business outcomes, increasing speed-to-market, and enhancing collaboration across the enterprise.

A Fair and Transparent Ecosystem

At Globality, our mission has always been clear: to build a fair, transparent, and innovative ecosystem for how companies do business together. In today’s fast-paced and uncertain world, this mission has never been more relevant. AI-driven autonomous sourcing is leveling the playing field, enabling organizations to operate efficiently, unlock savings, and reinvest resources into growth and innovation.

Looking ahead to 2025, we’re excited to build on this momentum and continue supporting businesses in achieving their goals. Whether it’s improving healthcare access, supporting families during economic challenges, or helping enterprises transform their operating models, the potential of autonomous sourcing is limitless.

Join Us on This Mission

The results speak for themselves: AI-driven autonomous sourcing isn’t just a technology upgrade—it’s a strategic enabler that empowers organizations to achieve more with less.

If you’d like to learn more about how Globality can help your business drive savings, streamline procurement, and make a meaningful impact, we invite you to join us on this journey.

Click here to book a demo or here to explore more customer stories and see firsthand how AI-driven sourcing is shaping the Future of Procurement.