The Globality Blog

Insights and articles from our procurement and sourcing experts

Artificial Intelligence | Spend management | CFOs | Autonomous Sourcing & Procurement

Unlocking Instant Cost Savings with AI: Moving Beyond Hype to Delivering Tangible Results
Seth Catalli

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.

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Spend management | CFOs | Autonomous Sourcing & Procurement

Saved by Zero: How Autonomous Sourcing Drives Zero-Based Budgeting
Seth Catalli

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...

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Artificial Intelligence | Digital Transformation | Autonomous Sourcing & Procurement

Four Predictions for Procurement in 2024 from Gartner
Globality

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 ...

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Artificial Intelligence | Digital Transformation | Autonomous Sourcing & Procurement

Autonomous Sourcing: Your One-Stop Guide
Globality

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

What is AI-Powered Autonomous Sourcing...

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Digital Transformation | CFOs | Autonomous Sourcing & Procurement

Why Intelligent Automation is the Key to Cutting Your SG&A
Keith Hausmann

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 ...

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Artificial Intelligence | Generative AI | Autonomous Sourcing & Procurement | Business Partnering

The Real “Seat at the Table” for Procurement: AI-Powered Innovation
Seth Catalli

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 ...

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Spend management | CFOs | Autonomous Sourcing & Procurement

Why FP&A Managers Should Drive Spend Management Automation
Seth Catalli

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...

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Procurement | Autonomous Sourcing | Business Partnering

Procurement's New Role – Business Partnering: Your Six Steps to Success
Seth Catalli

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...

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Artificial Intelligence | Generative AI | Autonomous Sourcing & Procurement

Indirect Procurement and Generative AI: The Perfect Match
Admin

For all the talk of the power and potential of generative AI to revolutionize how we work and transform the productivity of teams tangible use cases that are having an instant impact on productivity and the bottom line are still in short supply. But there are some functions where generative AI is al...

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Digital Transformation | Autonomous Sourcing & Procurement

Autonomous Procurement: The Key to Cutting Universities’ Soaring Operating Costs
Admin

Universities and other higher education (HE) institutions face well-documented financial challenges in today's rapidly changing landscape, ranging from declining public funding to increasing operating costs and changing student demographics to evolving market dynamics.

And, like all organizations, t...

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Digital Transformation | Generative AI | Autonomous Sourcing & Procurement

Why Companies Should Embrace Autonomous Procurement Today
Admin

CFOs, who are taking an ever-closer interest in the workings of their procurement functions, say cost control and cash accumulation are their top balance sheet priorities over the coming 12 months while, on a three-year timeframe, their focus is on technology, digital transformation and skill (Deloi...

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Digital Transformation | Autonomous Sourcing | Generative AI

Five Ways to Use Generative AI to Instantly Cut Enterprise Costs
Admin

The hype and excitement around generative AI shows no signs of abounding and rightly so –  it will transform the way we do business like nothing before. But with so much being written and said about this transformative technology and the breakneck speed at which new use cases are coming to the market...

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Procurement | Artificial Intelligence | Digital Transformation | Private Equity

Why Private Equity Firms Should Mandate Autonomous Sourcing to Cut Costs Instantly
Admin

Over the years, PE firms have mastered the art of creating value for their portfolio companies through aggressive cost reduction, increasing operating efficiencies and reducing headcount where necessary through outsourcing of back-office functions, the streamlining of processes and optimizing supply...

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Procurement | Artificial Intelligence | Generative AI

3 Things Procurement Must Know About Generative AI
Globality

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...

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Procurement | Digital Transformation

Using Autonomous Sourcing to Drive Supplier Diversity
Keith Hausmann

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...

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Artificial Intelligence | Autonomous Sourcing | GPT | Generative AI

Autonomous Sourcing Meets Generative AI
Globality

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...

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Procurement | Technology | Digital Transformation | Agile Sourcing | Spend management | CFOs

Five Trends To Shape Company Spend in 2023
Admin

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...

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Procurement | Digital Transformation

Procurement Perfected: Eliminating Obstacles to Value Through the User Experience
Keith Hausmann

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...

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Procurement | Digital Transformation

Why Autonomous Sourcing is The Key to Procurement’s Future Success
Keith Hausmann

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...

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Procurement | Innovation

How Procurement Can Do More with Less as Companies Cut Spending
Pam Smith

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...

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Artificial Intelligence | Innovation | Digital Transformation

Why AI-Powered Marketplaces Are the Future of Procurement
Keith Hausmann

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...

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Procurement | Digital Transformation

Time to Rip off the Band-Aid
Keith Hausmann

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...

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Procurement | Technology | Digital Transformation

Four Ways Digitalization Can Solve Procurement’s Biggest Challenges
Keith Hausmann

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...

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Artificial Intelligence | Technology | Digital Transformation

How a Best-of-Breed Ecosystem Simplifies Complex Integrations
Mangesh Phadke

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...

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Artificial Intelligence | Marketing | Digital Transformation

Five Ways CMOs Can Benefit from Adopting Innovative Technology and AI to Source Suppliers
Edoardo Vignani

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...

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Customer Spotlight

Partnering with Aquanima to Deliver Its Vision for the Future of Procurement
Diego Barilla

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 ...

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Procurement | Solutions | Digital Transformation

Leading Procurement’s Digital Transformation: Three Steps to Success
Keith Hausmann

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’.

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Procurement | Innovation

Using Digital Technology to Accelerate the Power of Procurement
Mita Gupta

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.

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Procurement | Digital Transformation

Why the Time Is Right to Transform How You Buy B2B Services
Keith Hausmann

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...

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Procurement | CPO

Building a Best-of-Breed IT Ecosystem to Help Drive Enterprise Growth
Adrian Sharples

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 ...

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Procurement | Innovation

Using Procurement to Enable Enterprise Growth and Add Economic Value
Globality

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...

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Procurement | Innovation

Five New Guiding Principles to Drive Strategic Growth and Enterprise Value
Keith Hausmann

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

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Diversity & Inclusion | Supplier Diversity

Seven Ways Companies Can Improve Supplier Diversity
Mili Desai

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.

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Human Resources | Diversity & Inclusion

Building a Culture of Belonging
Sonia Mathai

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 ...

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Procurement | Diversity & Inclusion

Now Is the Time to Focus on Supplier Diversity
Mili Desai

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. ...

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Procurement | Innovation

Disrupt or Be Disrupted? How Transformational Procurement Leaders Are Making a Difference
Keith Hausmann

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...

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Procurement | Innovation

Procurement is the Catalyst for Enterprise Transformation
Keith Hausmann

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...

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Procurement | CPO

The Best of Breed Ecosystem: Three steps every CPO must take to lead this critical evolution at their company
Keith Hausmann

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...

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Procurement | Artificial Intelligence

The Best of Breed Ecosystem: Why It’s the Key to Meet the Increasing Demands on CPOs and Their Teams
Keith Hausmann

“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

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Procurement | CPO

Why the Best of Breed Ecosystem Is the Future of Procurement
Keith Hausmann

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...

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Procurement | Artificial Intelligence

Why AI Matters to the CPO: How Procurement Leaders Are Transforming Expectations
Keith Hausmann

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.

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Procurement | Artificial Intelligence

Why AI Matters to the CPO: Simple Facts about Complexity for Procurement Leaders
Keith Hausmann

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.

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Procurement | Artificial Intelligence

Why AI Matters to the CPO: What’s Real and What’s Not for Procurement Leaders
Keith Hausmann

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...

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Procurement | Technology

Leading Through Disruption—The Case for New Operating Models
Keith Hausmann

The financial crisis of 2008 was the trigger for drastic changes in the way that procurement teams managed their businesses. As revenue streams for many multinational companies began to dry up and spending behaviors became front-page news, procurement was invariably thrust into the spotlight as a...

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Legal

4 Major Trends that are Already Changing the Legal Sphere in 2020
Bill Brooks

High firm billing rates, vague retainer arrangements, and poor customer service are frustrating clients, and that these shifting market dynamics, combined with powerful new data analytics capabilities, will oblige better and more defensible decisions by all parties. Given these disruptive forces,...

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Human Resources

The Modern HR Ecosystem—Disruption and Opportunity
Sonia Mathai

There’s a new approach to an old HR problem: artificial intelligence (AI). Our goal remains the same, though—hiring great talent and offering a great employee experience. Securing and retaining human capital that is aligned with the company’s core values is paramount. Emerging AI and machine lear...

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Technology

Cyber Risk and Climate Risk: More in Common Than You Think
Globality

It’s not every day you get the opportunity to hear from Al Gore, the 45th vice president of the United States and Noble Peace Prize laureate. I recently had such an opportunity, and what struck me most was something quite extraordinary. In a world experiencing a series of seemingly never-ending i...

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Artificial Intelligence | Marketing

4 Applications of AI in Marketing That CMOs Should Watch Closely
Globality

Over the next decade,Artificial Intelligencewill transform the nature of work across a range of industries, and given our penchant for being early adopters, marketers will be on the fast track.

The potential of AI andMachine Learningto help marketers better understand our customers, improve t...

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Artificial Intelligence | Technology

Defense Against the Dark Arts
Globality

Any Harry Potter fan (and there are a lot of them) can tell you that Defense against the Dark Arts is the core class at Hogwarts School of Witchcraft and Wizardry. Students are taught defensive techniques that protect them from any form of magic that is used to cause harm, exert control over, or ...

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Artificial Intelligence | Legal

How AI is Transforming Corporate Legal Departments for the Better
Mili Desai

Although technological change in the legal industry is notoriously slower than it is in other sectors, technology has become an integral part of a legal department’s ability to achieve a variety of business goals. Savvy lawyers recognize that artificial intelligence (AI), in particular, has alrea...

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Change Management | Technology

A CIO Perspective on Failure and Why It Teaches Us More Than Success
Globality

It’s true that more is learned from failure than from success.

As Henry Ford noted long ago, “Failure is simply the opportunity to begin again, this time more intelligently."

It’s often the case that failures prove much more meaningful than success to one’s professional development. Here are thre...

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Procurement | Artificial Intelligence

Be the Procurement Innovator
Jay Krishnan

Procurement and innovation don’t have to be at odds. Progressive Procurement leaders are taking charge to make innovation a priority, leveraging technology such as artificial intelligence to drive results beyond cost savings.

Recently, at the Procurement Leaders Indirect Category Conference, I ha...

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Procurement | Artificial Intelligence | Legal

Breaking the Mold in Legal Services Procurement
Bill Brooks

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.

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Artificial Intelligence | Marketing

How AI Can Help Brands Find the Best Agency Talent
Charlie Byron

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...

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Procurement | Artificial Intelligence | Globalization

The Future of Sourcing is Now
Globality

Innovative sourcing technology can enable local businesses to dramatically expand their reach and transform into global businesses; it can empower already global businesses to go where they’ve not gone before. This is possible when you have the right partner for every project. In this blog post, we’...

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