Globality wins World Procurement Award for best technology

Globality, a prominent player in the autonomous sourcing market, has been honoured with the prestigious World Procurement Award for Best Procurement Technology Provider. The accolade, considered the pinnacle in the global procurement industry, recognises Globality's innovative platform that enhances cost savings and operational efficiencies.

The award ceremony took place at the InterContinental London, bringing together over 1,000 procurement professionals. Hosted by Olympic gold medallist Amy Williams and BBC journalist Dan Walker, the event celebrated excellence within the procurement sector. Globality's AI-powered platform was highlighted for delivering 20% cost savings and a 70% increase in efficiency, attributes that led to its recognition.

Globality's client roster includes notable Global 2000 companies such as Adidas, BT, Fidelity, Santander, Tesco, and UCB. The elite judging panel for the 2024 awards included Chief Procurement Officers from globally recognised companies like Accenture, Heineken, American Airlines, Mondelez, and British American Tobacco, further validating the significance of the award.

Upon announcing the winner, the judging panel endorsed Globality as a "game-changer" that enhances competition and accelerates procurement processes. Joel Hyatt, Co-Founder, Chairman, and CEO of Globality, expressed pride in the recognition. "This award is a testament to the dedication and hard work of our entire team in delivering innovative solutions that empower organisations to transform their procurement processes, saving money, accelerating decision-making, and creating new opportunities for investment and growth," said Hyatt.

Hyatt also touched on the company’s advancements in AI technology, noting, "We developed and are deploying proprietary AI that is enabling companies to save hundreds of millions of dollars and their employees to achieve greater success. Winning this award motivates us to continue pushing the boundaries of what is possible in AI technology for the benefit of our customers and their stakeholders."

Globality's AI-powered bot, GLO, has been crucial to its success. The platform enhances productivity and optimises company spending by creating precise requirements, identifying qualified suppliers, providing negotiation insights, and facilitating data-driven decisions. Praised for its user experience and deep automation, GLO has enabled Globality's enterprise customers to achieve significant cost savings and efficiency gains.

The World Procurement Award underscores the growing importance of technology in procurement, an industry increasingly reliant on artificial intelligence to drive strategic decision-making and achieve growth. Globality's recognition at such a significant event highlights its role at the forefront of this transformation.