Globality empowers many of the world’s leading companies to optimize their strategic sourcing across all categories. We have done so with a laser-focused emphasis on building a complete sourcing platform with unprecedented levels of usability and intelligence. At the forefront of that experience is Glo, an AI procurement assistant who quickly becomes a trusted team member for procurement professionals and a knowledgeable, respected ally for the finance organization.

We work with customers trying to solve hard problems yet deliver intuitive and easy to use solutions. Sometimes it’s hard to prioritize the feedback and priorities. Not this time. In working with our customers and listening to their feedback, it was clear that the Summer 2024 release would focus on two key areas.

First, companies want to manage more spend in our product so they can experience the benefits we offer across more of their portfolio. They want a single system for all sourcing, whether it be complex strategic projects or simple, yet transactional, tail spend. They want less tactical unmanaged buying and more competitive sourcing to increase transparency and reduce costs.

Second, customers communicated a need to ensure company compliance policies, rules and processes are observed regardless of whether sourcing was driven by the procurement team or business stakeholders. Companies wanted to ensure that for each project the journey was personalized and optimized. For complex projects, they wanted comprehensive scope capture and requirements. For simple projects, they wanted quick and efficient scoping and quoting. Furthermore, they told us that the personalization of these project journeys is not only different for each company, but also varies by category even within a single company.

To start, we introduced a brand-new Line Items feature. Line Items allows users to specify itemized details as part of their project to more accurately capture their intent. Line items can be either physical goods or services, and users can specify quantity and unit of measure. In addition, we significantly enhanced our pricing functionality to be infinitely more robust and flexible. Users can now opt to get itemized pricing, total price or even request a rate card. They can opt for providers to input pricing directly into a pricing table in the application, which can easily be viewed and compared across proposals, or for complex pricing in an external Excel-based pricing template. As always, users can leverage Globality’s library of best-in-class Smart Pricing Templates in order to make informed decisions and ultimately reach savings goals. So, whether it’s a complex RFP, a simple RFQ or requesting a services rate card, Globality easily captures all the suppliers’ prices. And, because we know it’s important to ensure providers can submit proposals quickly, we also enhanced and simplified the supplier experience when submitting their proposals.

Next, we launched Project Workflow to help our customers enforce their own rules and processes for each sourcing event. This new capability complements the existing proposal section library, matching rules and approvals capabilities that allow users to specify and enforce their company policies. Globality administrators can configure which modules in the Project Brief (scope, line items, proposal requirements, pricing requirements) are mandatory, optional, or not applicable. This configuration can be based on any number of parameters such as category, budget, project type and more. As a result, each project now has the optimal level of detail while requiring minimal effort by users.

Lastly, Globality has extended its market-leading AI capabilities delivered through Glo, our powerful procurement AI assistant. With Next-Gen Scoping, Glo understands all the content and context a user provides about a project, including any uploaded files. For each project Glo builds a customized set of scoping questions leveraging both Globality’s proprietary database of project and service offering-specific content, as well as the broader content from Generative AI’s LLM (Large Language Model). The quantity of questions generated is based on the project type, ensuring that for simple projects like RFQs, users have a shorter scoping experience than for more involved projects, like RFPs. Glo automatically answers questions based on the content that the user provides to deliver detailed, comprehensive and relevant responses. For the subset of questions that Glo does not have sufficient detail to answer, Glo will present those questions to users as well as context or tips on what to take into account, enabling users to quickly and knowledgably complete the scoping process. Users can also end scoping at any time or request that Glo asks additional scoping questions.

With these new, enhanced capabilities, our global enterprise customers now only require a single sourcing platform for all their multi-billion company spend. Both sourcing teams and business users can efficiently manage tail spend, personalize project journeys and leverage advanced AI capabilities to save time and improve all outcomes. We thank all our customers for their feedback and passion to innovate with us, driving savings and new efficiencies across their procurement function using Globality.