The Globality Blog

The promise of generative AI has carried the stock market to new heights, and some even believe we’re at the precipice of a technology boom that the world hasn’t seen since the advent of the Internet in the 90s.

In this age of efficient growth, the “start from scratch” approach of Zero-Based Budgeting can have an incredible impact on the bottom line. A Zero-Based Budget perspective carefully evaluates not just what’s being spent, but whether a budget line item is even needed. It’s a popular strategy among C...

The new report from Gartner, Predicts 2024: CPOs Adjust to Technology’s Impact on Procurement, outlines how new technology is rapidly evolving and changing how procurement will be executed in the future. The research helps Chief Procurement Officers understand how technology is impacting the future ...

Autonomous sourcing not only increases efficiencies by automating routine RFP-based tasks but also guides business users to make better buying decisions more quickly and easily, while enabling procurement teams more time to focus on higher-value strategic tasks that drive better business outcomes.

W...

Times are still tough for companies of all sizes and CFOs are continuing to try and work out how they can do more with less as they face more pressure than ever to combat the stubborn inflationary pressures and reduce Operational Expenses (OpEx), while simultaneously helping add strategic value and ...

Procurement may want a seat at the table, but the function is saddled with a perception problem. According to a research study by global consulting firm Kearney, more than half of CFOs surveyed see procurement as a transactional department that’s good for negotiating hard cost savings, but not as a ...

Financial Planning and Analysis (FP&A) managers play a pivotal back-office role – budgeting, forecasting, and analyzing financial data to drive intelligent, strategic decisions that will not only enhance efficiencies and cut costs but also help enable company growth.

Today, FP&A managers have a uniq...

Procurement has to move beyond its traditional role of merely sourcing goods and services at the cheapest price.

It needs to deliver strategic value to the organization, utilizing the power of AI to automate repetitive, transactional processes and free up procurement teams to drive better business o...

You can’t watch a news broadcast or flick through your social media feed or without seeing and hearing about generative AI, and how it will transform the way we work, bringing new efficiencies and enabling people and teams to accomplish more. According to this report from Accenture, 98% of global ex...

What is really exciting about being in procurement is the influence that you can have and the opportunity to make a difference using the external spend that you control. Leverage is the bedrock of procurement and the whole reason we exist. Traditionally, we have tried to use that leverage to minimis...

Globality has been revolutionizing the buying process with sophisticated AI technology to deliver on its autonomous sourcing vision for years. Just as ChatGPT has created waves in the B2C space, our AI bot, Glo, has already taken the enterprise world by storm, with several companies transforming how...

As 2023 approaches, we have identified five trends that will result in companies reimagining procurement within their organizations as they contend with economic challenges in the year ahead."Enterprise companies have a great opportunity to ensure that their balance sheets remain strong amid inflati...

Our recent webinar, organized with Art of Procurement, highlighted how companies need to provide a better user-experience for their business stakeholders to encourage them to work with procurement rather than around it. If procurement can engage earlier in the sourcing process with its internal part...

Procurement leaders have, for some time now, found themselves under growing pressure to inject a greater degree of flexibility into operating models and offer their stakeholders an improved, consumer-grade user experience. The impact of the pandemic and subsequent soaring inflation has only added to...

With news of the US economy shrinking for a second straight quarter, recession fears are becoming all too real, and companies are preparing for the worst. As Sal Guatieri, Senior Economist at BMO Capital Markets, explains, “The economy has quickly lost steam in the face of four-decade high inflation...

B2B services have long been the final frontier for digital transformation due to the difficulty in defining in clear terms the complex variables involved, but innovative technology is now enabling seamless buying processes that mirror the value creation and intuitive user experience that has existed...

Tough times ahead

According to a recent article by Bloomberg, the US economy is starting to show signs of strain under the weight of the highest inflation for decades and climbing interest rates – raising the risk of a downturn. Many of the world’s top economists also see the storm clouds on the hor...

We live in uncertain times, and procurement leaders understand that they need to modernize their processes to make the function more strategic and valuable in the digital age. But in many cases, they are constrained by both internal and external factors. Below are four of the major challenges procur...

New innovations are being developed every day, powered by AI and other leading technologies. While it can be difficult to keep up with what’s state-of-the-art, and to separate the flash-in-the-pan tech from the tech that is truly revolutionary, one thing is certain: Traditional solutions cannot deli...

Marketing is a highly complex discipline. It’s rooted in human emotion but increasingly played out in data-driven environments. Those environments provide a rich source of information that can tell us so much about the people marketers are trying to target – and indeed can make sense of what motivat...

The Future of Procurement is self-serve, fueled by innovative AI-powered technology that makes sourcing a smarter, more efficient process. I recently joined Alejandro Schipani, Head of Global Delivery at Aquanima, and one of the most visionary procurement leaders I have had the privilege of working ...

As enterprise companies struggle to digitally transform, Globality CRO Keith Hausmann discusses how innovative technology can help procurement meet today’s biggest challenges, while increasing its influence through the power of ‘Performance Spending’.

Transformative procurement leaders have a unique opportunity to turn their company’s spend into a valuable asset that drives long-term sustainable impact beyond the traditional definition of ESG, writes Mita Gupta.

At a time when companies are increasingly focused on their corporate purpose and ways of contributing positively to the economies and communities in which they do business, it’s a stark fact that the average global enterprise spends US$4 billion on services each year, yet 70% of this is never expose...

The focus of the CIO has shifted dramatically in recent years from cost reduction to enabling their organizations’ most important strategic objectives. Meanwhile, the pace of technological change in this period has also accelerated greatly. These converging trends are driving technology departments ...

At Digital Procurement World 2021, Globality brought together a panel of transformative procurement leaders who are putting strategic innovations into practice to help drive growth and lead the ESG agenda across their companies. Paula Martinez, CPO at Novartis; Cyril Pourrat, BT Group CPO; Vanessa P...

Keith Hausmann explains why the time is right for procurement to expand its influence across the organization and deliver the future of sourcing today.

The article was originally published by Global Banking and Finance.

The second part of our blog on supplier diversity highlights the ways companies can successfully broaden their global provider base for services sourcing. You can read the first part on why it is critical for companies to focus on supplier diversity here.

It’s one thing for companies to talk about diversity and inclusion but another to truly put those words into practice and build an organization where people from right across the spectrum can come together and work collaboratively, feeling that everybody is treated equally and fairly, regardless of ...

After years of diversity and inclusion (D&I) being treated as a buzzword, many organizations are now taking a closer look at whether their actions are making a meaningful difference. In some cases, companies are thinking more about D&I in the businesses they work with, particularly their suppliers. ...

In our rapidly changing environment, how can procurement become a driving force for change and a strategic partner to deliver value to the business beyond traditional cost savings? It is now imperative for leaders to fully leverage digitization to become an equal in the business and deliver the “con...

No one is better positioned to drive disruptive change and lead the reinvention of the enterprise than procurement. To thrive in the “next normal,” an increasing number of procurement leaders are challenging the status quo, embracing transformational innovation, and taking bold action to deliver new...

In a recent white paper about the best of breed ecosystem, A.T. Kearney urges CPOs to “embrace the new architecture and adopt individual solutions, updating them as they evolve.” This recommended path for procurement leaders requires a very different type of procurement leader: “a certain type of CP...

“In 2020, legacy procurement applications will be scaled back, while cloud-based core applications, best-of-breed solutions, robotic process automation (RPA), and data visualization tools will see significant growth.” —The Hackett Group

Procurement is ripe for reinvention with the rapid consumerization of the enterprise, and business stakeholders are demanding the same immediate, elegant and intuitive experience in the workplace as they are accustomed to in their daily lives. CPOs and their teams are faced with the reality that, wi...

This is the final part of a three-part series about Why AI Matters to the CPO. To read part 1, What’s Real and What’s Not, click here, and to read part 2, Simple Facts about Complexity, click here.

This is part 2 of a three-part series about Why AI Matters to the CPO. To read part 1, What’s Real and What’s Not, click here.

Today’s procurement leaders face a series of unparalleled challenges. To help their teams rise to the occasion, CPOs must think differently about how they utilize people, processes, and current and emerging technologies. The decisions made today will have a deep and lasting impact across the enterpr...

Many in the legal profession have likely heard something about artificial intelligence (AI) by now. But in this nascent stage of a game-changing technology, most lawyers (along with lots of other professionals) are just starting to explore how AI can benefit them and their firms.

Picture a marketer named Lena at a global apparel brand, charged with creating buzz for the opening of a new store in London. It’s happening in less than three months, and she needs an agency partner that can drive awareness. She’d like to build an in-store brand experience, potentially using virtua...