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Get the latest news about Globality, learn how it works, and discover how it
can help your enterprise (and everyone in it).
Get the latest news about Globality, learn how it works, and discover how it
can help your enterprise (and everyone in it).
Procurement has long talked about the need to earn a 'seat-at-the-table', becoming a key strategic business function that adds value and drives growth as opposed to being a back-office operator. And with AI-driven technology now at the fore, the lever to drive this transformation is available to every procurement leader.
As a procurement and supply chain consultant with more than 20 years experience at Accenture, Cap Gemini, EY and now BDO, Phil Liu is ideally placed to advise on how Fortune 500 and Global 2000 companies can achieve this move quickly and easily.
In conversation with our Chief Revenue Officer Seth Catalli, Phil discusses:
When I speak to procurement leaders and understand their strategic priorities and value drivers, the good news is that with today's AI-powered technology they have an enabler that will nearly always help them achieve these goals."
Procurement technology leaders can use this research to understand how peers are reacting and approaching generative AI over the next 12-18 months. Download your copy of the new report from Gartner to find out more about how:
Procurement Moves Quickly to Experiment With Generative AI, 25 June 2024, By Kaitlynn Sommers
GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and is used herein with permission. All rights reserved.
Eric Shaver is Managing Partner at Kensei Partners, a business skills focused consulting firm. Eric’s core clientele, composed primarily of industry leading enterprise and high growth B2B technology companies, leverage his expertise to optimize untapped revenue growth through their direct and indirect sales channels and the revenue focused teams that support them.
In conversation with our Chief Revenue Officer Seth Catalli, Eric explores how procurement leaders can obtain the funds they need to invest in game-changing digital technology by better communicating the value that sourcing teams bring to the business. He reveals:
Harold Wu is Chief Procurement Officer of T. Rowe Price, the global investment firm with some US$1.7 trillion of assets under management. A well-known figure in the industry and member of the Procurement Leaders CPO advisory board, he previously held senior roles at CIB and Bank of Montreal among others, and has served as a Chief Operating Officer and Chief Information Officer as well as CPO giving him a broad perspective of the challenges of leading a Global 2000 company.
In conversation with our Chief Customer Officer Keith Hausmann, Harold discusses the key drivers behind the digital transformation he is leading at T. Rowe Price including:
As finance and procurement leaders look for tangible AI business use cases, a new report from HFS Research explores how Global 2000 companies such as Fidelity Investments, T. Rowe Price, and UCB Pharma are leveraging the game-changing technology to increase visibility and control of every dollar they spend.
Key findings in the report include:
Amanda Prochaska has led procurement transformations from both sides of the fence - firstly as a senior sourcing leader at companies such as MGM Resorts and Kraft-Heinz and then latterly through her consultancy Wonder Services.
In conversation with Globality's Seth Catalli, Amanda pinpoints the keys to leading the successful digital transformation of a procurement organization including:
When Kantar was bought out by Private Equity from previous owners WPP, Chief Procurement Officer Steve Day had the opportunity to start from scratch and create a modern sourcing organization from the ground-up. The result was a new type of operation that prioritizes speed and agility over cumbersome manual legacy processes and gives a view into how the procurement model of the future should look, combining best-of-breed technology with new talent and people, brought up in a digital-first world.
In conversation with Globality's Seth Catalli, Steve discusses:
In his new book AI Unleashed: Harness the Power of AI to Transform Your Business, Reddy Mallidi, formerly a senior executive at Intel, offers a transformative guide for business leaders, navigating the seismic shift AI brings to business and society. It offers a practical roadmap for harnessing AI's potential, going beyond technicalities to focus on strategic implementation, the art of possibility with AI, and creating exponential business value.
In conversation with Globality's Seth Catalli, Reddy's key callouts include:
With more than 40 years experience in global workforce management, helping leading companies find the right talent to meet their operational needs, Bruce Morton, Allegis Global Solutions, Head of Strategy, has unparalleled understanding of the transformative changes across the industry. He joins the Spend Sessions podcast to discuss how the use of new AI-powered digital technology is enabling companies to reinvent their staffing solutions and drive better business outcomes, even with fewer resources.
In conversation with Globality's Seth Catalli, Bruce highlights key trends including:
As a true leader of digitalization in procurement and the ‘Digital Garage’ concept, who better than Cyril Pourrat to kick off the new Spend Sessions series with his view on the major challenges currently facing leading global enterprises as they seek to optimize their spend management models in today’s uncertain economic and geo-political environment.
In conversation with Globality's Seth Catalli, Cyril discusses:
Companies should urgently adopt gen AI-powered sourcing tech to cut costs, increase efficiency and drive better business outcomes according to the clear message from procurement professionals surveyed by Globality and Art of Procurement on how the function should use new technology to unleash productivity and purpose to optimize their indirect spend
Graham Moore sat down with Tesco’s Sarah Conway and Stuart Blackery to discuss how Globality is enabling their teams to work more efficiently and generate better value for Tesco customers, while helping attract and retain the best procurement talent. Watch the video to learn more
This new White Paper from leading procurement analysts Spend Matters explains why the only way to achieve the substantial cost savings that companies across all sectors are seeking is for CFOs and procurement to partner and adopt the autonomous sourcing and procurement technology that delivers increased efficiencies and reduced operating expenses.
Watch this 2-minute video to get an overview of how Global 2000 companies are leveraging Globality's autonomous sourcing platform to automate their indirect procurement and significantly cutting costs and reducing OPEX.
Watch our webinar with Art of Procurement to discover how leading companies are utilizing innovative technology such as our agile sourcing Platform to provide a better experience for their stakeholders, resulting in improved business outcomes.
Watch our insightful keynote session from DPW22 with Dr. Elouise Epstein, Kearney Partner and digital futurist, and Vanessa Pepperell, COO and Chief Strategy Officer, Aquanima Santander Group, as they highlight the benefits of digitalization and identify the next steps every forward-thinking procurement leader should take.
Discover how to overcome economic challenges and cut costs up to 20% using Globality.
Learn how Globality can bring unmatched efficiency, effectiveness, and impact to your enterprise services spend.
Watch this 3-minute video to understand why Globality is the leader in autonomous sourcing and revolutionizes the buying process for Global 2000 companies, delivering substantial savings. Using sophisticated AI, the platform creates precisely scoped requirements, identifies the most qualified suppliers, provides negotiation insights, and enables data-driven decisions.
In association with the Financial Times, our CPO Spark Think Tank brings together a hand-picked group of progressive CPOs from market-leading companies around the world who want to drive positive change and top-line growth in their businesses. Over the course of four in-depth virtual sessions, the group focused on the strategies, new technologies, and bold ideas helping CPOs innovate and add value to the wider business while responding to the pressure to reduce costs and mitigate risk in a time of unprecedented change.
In the final session, HFS Research Founder, CEO and Chief Analyst Phil Fersht shared his insights on key drivers for today’s enterprise and how the most successful companies will capitalize on the future of work with an ecosystem approach providing a connected customer, employee, and partner experience that creates new thresholds of enterprise value. Read the key takeaways from the insightful and inspiring discussion below:
We spoke with Amy King, Strategic Insights Director at The Connell Group, about how Globality can help women-owned businesses succeed, and the gains she hopes women will continue to make in the years to come.
By utilizing Globality’s innovative AI-powered Platform and Marketplace, Aquanima is automating and digitizing its procurement capabilities to deliver significant benefits to clients including an average of 15% cost savings, faster speed to market and increased efficiencies. Learn more about our partnership with Aquanima here.
Sourcing quickly and efficiently has long been a challenge for procurement. Santander has taken an integrated approach, combining Globality's innovative AI-powered technology with its core SAP system to deliver cost savings and efficiency gains, enabling its teams to focus more resources on high-value strategic goals such as supplier diversity, innovation and helping clients achieve their ESG objectives. Learn more about our partnership with Santander here.
In TRANSFORM—a thought-provoking new podcast series from Art of Procurement in partnership with Globality—we spotlight the agenda-setting procurement leaders and companies that are changing the game and redefining the Future of Procurement.
Leading procurement organizations are constantly reimagining their processes and operating models, but in today’s unpredictable and fast-changing world they are under more pressure than ever to deliver a high-level roadmap for building the procurement function of tomorrow, today.
In this episode, host Philip Ideson talks with Vanessa Pepperell, Global COO and Strategy Procurement Vice President of Aquanima, the procurement company of Santander. With two decades of expertise, Aquanima now works with Santander and external clients.
In this interview, Vanessa explains how Aquanima is driving digital transformation in services procurement by discussing:
In TRANSFORM—a thought-provoking new podcast series from Art of Procurement in partnership with Globality—we spotlight the agenda-setting procurement leaders and companies that are changing the game and redefining the Future of Procurement.
Leading procurement organizations are constantly reimagining their processes and operating models, but in today’s unpredictable and fast-changing world they are under more pressure than ever to deliver a high-level roadmap for building the procurement function of tomorrow, today.
In this episode, host Philip Ideson talks with Adam Brown, Head of the Procurement Digital Garage and Senior Manager of Transformation at BT Sourced. Adam and his team are leading the way in transforming the role and impact of procurement to push it beyond traditional boundaries.
In this interview, Adam discusses the importance of building a digital procurement ecosystem to enable a lasting transformation. He covers:
In TRANSFORM—a thought-provoking new podcast series from Art of Procurement in partnership with Globality—we spotlight the agenda-setting procurement leaders and companies that are changing the game and redefining the Future of Procurement.
Leading procurement organizations are constantly reimagining their processes and operating models, but in today’s unpredictable and fast-changing world, they are under more pressure than ever to deliver a high-level roadmap for building the procurement function of tomorrow, today.
In this episode, host Philip Ideson talks with Dr. Elouise Epstein, a partner at Kearney and the acclaimed author of Trade Wars, Pandemics, and Chaos: How Digital Procurement Enables Business Success in a Disordered World. She is at the forefront of driving the procurement profession to have a better future.
Dr. Elouise shares her perspectives on:
Download a free exclusive excerpt from her book, Trade Wars, Pandemics, and Chaos: How Digital Procurement Enables Business Success in a Disordered World.
In association with the Financial Times, our CPO Spark Think Tank brings together a hand-picked group of progressive CPOs from market-leading companies around the world who want to drive positive change and top-line growth in their businesses. Over the course of four in-depth virtual sessions, the group is focusing on the strategies, new technologies, and bold ideas helping CPOs innovate and add value to the wider business while responding to the pressure to reduce costs and mitigate risk in a time of unprecedented change. In the third session of the four-part series, the focus was on how CEOs are increasingly turning to the CPO to help create the transformative operating models that will drive long-term growth. Today’s CPO must enable and support better business performance by adding strategic value; being more agile; opening gateways for innovation; and positively influencing sustainability and supplier diversity across the value chain. Additionally, they want to be recognized for doing this by the board of directors and executive leadership, who may have an outdated view of the procurement function as a transactional entity instead of one that can lead the digitalization of business processes to enact positive change.
Read key insights from Globality’s recent roundtable with HFS Research and learn how global enterprise leaders are utilizing technology to transform their procurement processes and identify new sources of growth and value.
Digital technology can help global companies ease the burden of higher input costs in the coming months through improved sourcing, Joel Hyatt, CEO of Globality told the Reuters Global Markets Forum on Tuesday, October 19. Hyatt said that streamlining procurement processes and boosting competition can raise companies’ efficiency and savings by about 20%, adding that less than half of the more than $4 billion spent annually by the average Global 2000 company on services is allocated in a transparent, competitive manner.
Read the report below, or click here to download.
In association with the Financial Times, our CPO Spark Think Tank brings together a hand-picked group of progressive CPOs from market-leading companies around the world who want to drive positive change and top-line growth in their businesses. Over the course of four in-depth virtual sessions, the group is focusing on the strategies, new technologies, and bold ideas helping CPOs innovate and add value to the wider business while responding to the pressure to reduce costs and mitigate risk in a time of unprecedented change. The second session focused on actions that CPOs can take to transform the procurement function today by turning spend into an asset. This accelerates growth and creates enterprise value in different ways, including driving an organization’s ESG agenda, creating new sources of innovation for the business, redeploying teams from repetitive tasks to value-creating roles, and delivering a superior user experience.
Learn more about the unique opportunity procurement has to use performance spending to enable a company’s ESG strategy and help create a more sustainable and inclusive world.
Why Procurement Has a Unique Opportunity to Enable a Company’s ESG Strategy
During his keynote session at DPW2021, Globality Co-Founder, Chairman and CEO Joel Hyatt discussed with HFS Research CEO and Founder Phil Fersht how CPOs can impact one of today’s top corporate priorities. Here we outline the key elements of this new vision for performance spending:
“Procurement has always been asked to deliver on the core value proposition of identifying high-quality suppliers at a good price, but CPOs and other procurement leaders are increasingly required to help advance a company's all-important ESG strategy. CEOs are not only talking about ESG – they've done that for a while – but they are now prioritizing company performance against stated goals.
And the reason they care so much about it is because it turns out that all their stakeholders – investors, shareholders, employees, and customers – care about it. So procurement is being asked to help, which makes a lot of sense because the biggest asset a company has to advance its ESG agenda is how it spends its money. As a result, procurement now has a second core value proposition that it needs to deliver on. How can it do this? The answer is very simple – by using sophisticated AI-powered technology.
DIGITAL TECHNOLOGY TO DRIVE TRANSFORMATION
Digitalization is the enabler, adding value to both procurement’s traditional focus on costs and supply, and the top new priority: ESG. In fact, we can put them together under a new framework termed ‘performance spending’. This means the impact that procurement can have today is far greater than it has traditionally enjoyed, making it a very exciting time to be in the sourcing industry. So how can procurement leaders lead the revolution and put this digital transformation into practice at their own companies?
For the most part, CPOs want to transform the way they source goods and services, even though change management is hard and transformational innovation is tough. CPOs want a seat at the table, and they want to have a meaningful impact on their company’s overall performance, but they don’t currently feel empowered to do it.
That’s why this framework of performance spending and understanding how AI-powered digitalization can lead the transformation is critical – it means CPOs now have the ability to deliver what nobody else in the company can.
IMMEDIATE IMPACT ON THE TOP AND BOTTOM LINE
With Globality’s AI-powered Platform, the CPO of a global enterprise with $6 billion a year services spend can walk into the CFO’s office and say I've got a billion dollars for you in immediate costs savings, which you can take to the bottom line or reinvest elsewhere. That sum is obtained by capturing enormous efficiencies, making OPEX savings, and delivering faster speed to market, all thanks to new digital technology.
They can then walk straight down the hall to the CEO, and say, “I can have a bigger impact on this company's ESG strategy than anybody”, because how a company spends its money drives performance on sustainability and creates more inclusive economies and better governance by building an ecosystem that's transparent, fair and open to all.
ENTERPRISE SPENDING FOR GOOD (ESG)
ESG used to be simple. The E rated a company's carbon footprint and its own environmental practices, the S referred to the diversity of its workforce and the G was simple compliance measures. Today it has a much broader impact – Enterprise Spending for Good.
The E refers not only to the environmental impact of the company itself but also that of its value chain – a complex, sophisticated network which digital technology simplifies and brings visibility to. The S communicates how a company is helping foster social inclusion and helping create more inclusive economies in the 100 plus countries in which most global enterprises operate today.
And the G refers to the ecosystem a company creates for its business globally. This ecosystem must be transparent, fair, inclusive for smaller and diverse companies, and judged solely on the merits of price, quality, proven performance, and passion.
SEIZING THE MOMENT
ESG has overtaken geopolitical risk and uncertainty as the most pressing consideration for global business over the next two years, according to new research from Oxford University and Globespan Insights, offering procurement an unprecedented opportunity to demonstrate the value it brings to an organization.
Previously many CPOs believed they lacked the ability to be game-changers, but procurement leaders now have the tools to become the key drivers of overall company performance. The result of this is that CPOs are not only going to have that seat at the table but their teams will become a very exciting place for employees to work because it's within procurement that they can actually help create a better world with greater environmental sustainability, more inclusive economies, increased transparency, and better corporate governance.
Procurement can lead a company’s performance on each of these key deliverables, but its leaders must act now and adopt the digital technologies required to enable this transformation before the moment passes.”
We're thrilled with our employees’ continued engagement and connection with Globality’s mission, enabling us to win three Comparably 2021 awards – Best CEO for Diversity, Best Leadership Team and Best Career Growth.
Read the press release below, or click here to download.
Learn how Globality can bring unmatched efficiency, effectiveness, and impact to your indirect spend.
Ana Botin, Executive Chairman of the Santander Group, and Globality CEO Joel Hyatt explain how Globality empowers the financial group’s ESG strategy and commitment to responsible sourcing across all the countries in which it operates. Originally posted by Aquanima, here.
In its commitments to innovation and corporate responsibility, Aquanima, the global procurement arm of the Santander Group, is using its procurement expertise and Globality's AI-powered B2B services marketplace to significantly improve customer and supplier processes to build a better world for all.
With Globality, procurement teams have a unique opportunity to help create a better world by advancing ESG, the environmental, social, and governance strategy that is of increasing importance in all companies today. Procurement in the future will be much more strategic and valuable as we shift to “impact spending."
Impact spending will influence suppliers to operate more sustainably – in great part by using technology to select suppliers with best practices in sustainable performance. This enables global corporations to help create more inclusive economies by spending more money locally in the countries in which they operate, and by sourcing from outstanding smaller and diverse firms. And impact spending will assure transparency and compliance, both of which are far easier to achieve in an AI-powered digital universe than in the old analog world.
Through our partnership, Globality and Aquanima are providing the leadership in making procurement be about impact spending, creating value for Santander throughout the procurement process, and at the same time building a sustainable and inclusive global economy.
In association with the Financial Times, our CPO Spark Think Tank brings together a hand-picked group of progressive CPOs from market-leading companies around the world who want to drive positive change and top-line growth in their businesses. Over the course of four in-depth virtual sessions, the group is focusing on the strategies, new technologies, and bold ideas helping CPOs innovate and add value to the wider business while responding to the pressure to reduce costs and mitigate risk in a time of unprecedented change. The inaugural session looked at the effects of the pandemic on procurement functions and began to explore the ways transformative CPOs are revisiting their operating models and processes, as well as the composition of their teams, to place procurement at the heart of organizations' growth during the economic recovery.
This article was originally published at https://artofprocurement.com/moving-procurement-from-a-cost-center-to-a-transformation-engine/
This article was originally published at https://artofprocurement.com/episode390/
Leading global communications company deploys the world’s only AI-powered Smart Sourcing® Platform and Marketplace for sourcing all its services
Through a new partnership with Globality and BT’s new procurement company, BT Sourced, BT launched Globality's AI-powered, Smart Sourcing® Platform to transform how BT employees source and procure services.
“BT is changing and so is procurement. Digitization is the driving force for long-term growth and value to the BT customer and operating model,” said Cyril Pourrat, Chief Procurement Officer, BT. “Partnering with Globality will help us to embrace digital technology and simplify our processes.”
“Having immediate access to our current suppliers and Globality’s diverse global network, will bring agility and new value to our teams,” added Pourrat.
BT now uses Globality's AI advisor, Glo™, to quickly and easily source the best suppliers for consulting, marketing, IT, HR, legal and other service categories.
“BT is revolutionizing the way it sources services in order to deliver exponential value to its stakeholders, while at the same time, helping to create a more inclusive and sustainable global marketplace,” said Joel Hyatt, Co-founder, Chairman, and CEO of Globality
“I’m very proud to be partnering with Cyril and his team, in unleashing the power of procurement to add value throughout BT — increasing efficiency, lowering costs, improving quality and advancing BT’s important ESG strategy,” added Hyatt.
This downloadable brochure describes the challenges and best practices for CPOs leading innovation within their procurement organizations.
Wondering how to achieve digital transformation and yet manage change effectively? Take a look at these best practices.
We surveyed 101 procurement executives on the state of digital transformation at their companies. Here are highlights of what they said about the future of procurement.
Our CEO Joel Hyatt joins CNBC Squawk Box Europe to talk about the future of work, and the impact digitization and AI are having on globalization.
AI engineer Pierce Freeman examines the way that the Globality Platform helps your company identify complex intent, and how Globality’s cutting-edge AI is able to match your company to the best supplier at the right price for every project.
AI engineer Pierce Freeman describes the way Glo, Globality’s cutting-edge AI engine, matches your company to the best supplier at the right price for every project.
AI-led sourcing with a 15x ROI. Guaranteed.