Highlights:
- Globality claims numerous large businesses have already adopted Glo to help with their procurement procedures and have reaped the benefits.
- Globality created an AI-powered enterprise procurement platform to assist businesses in making economic purchases.
Globality Inc., an autonomous sourcing startup, has added some cutting-edge generative AI capabilities to its platform “Glo,” which is now accessible to all users.
A platform for enterprise procurement powered by AI was developed by Globality to assist businesses in making cost-effective purchases of the various products and services required for their operations. Its platform is a cutting-edge replacement for the antiquated request-for-proposal procedure, which seeks to obtain lower bids by contacting numerous suppliers.
Glo is a sophisticated conversational chatbot created to assist businesses in selecting products and services with excellent knowledge. It leads users through the entire purchasing process, helping them find suitable suppliers and offering advice on negotiating while upholding the company’s sourcing guidelines at all times. It functions as a knowledgeable and quick-learn virtual member of business procurement teams in this way.
According to Globality, Glo can assist users at every stage of the procurement process by conversing with them and providing assistance by responding to inquiries about the process. It employs natural language processing to comprehend the intricate intent of strategic high-value projects and precisely scope project requirements, creating a professional brief that can be sent instantly to best-fit suppliers.
Globality guarantees that regardless of the product or service the user is trying to buy, it will always determine the best buying path by considering various sourcing options. It will produce a lengthy list of potential suppliers and then try to give users a competitive edge when negotiating any deal by providing knowledge and advice that can be used as leverage to obtain better terms or prices.
Another benefit of Glo is that it centralizes all spending activities in one location and enables smarter collaboration between the various employees involved in procurement to cut costs and prevent overbuying.
According to Globality, several large businesses have already adopted Glo to help with procurement procedures. They have reaped the benefits of indirect spending cost savings of 10% to 20% while experiencing productivity increases of up to 70%.
The British telecom giant BT Group plc, one of these clients, claimed to have used Glo to coordinate more than £3 billion (USD 3.74 billion) in annual procurement spending.
Cyril Pourrat, BT’s Chief Procurement Officer, said, “We aim to provide our people with a consumer-grade user interface that reduces the need for extensive training. With Glo using generative AI, no one needs to be trained on how to make the absolute best decision when sourcing.”
Joel Hyatt, CEO of Globality and a co-founder, claimed that companies need help reducing costs when they use antiquated purchasing procedures. But he added that they must do this to stay competitive.
Hyatt said, “None of this is possible if the archaic purchasing process consumes everyone’s energy with minimal impact. Glo not only captures the hearts and minds of its users but also plays a strategic role in enabling intelligent buying decisions, reducing costs, and assuring optimal utilization of funds to drive growth and innovation.”
