Home Technology Globality Named by Gartner® as a 2021 Cool Vendor for Strategic Sourcing Technology

Globality Named by Gartner® as a 2021 Cool Vendor for Strategic Sourcing Technology

by jcp

Globality recognized by leading analyst firm for its AI-powered platform and marketplace

PALO ALTO, CA – November 22, 2021 – Globality, the company that is transforming the way high value  services are bought and sold with its leading AI-powered digital solution, today announced it has been  recognized as a Cool Vendor in the Gartner newly released 2021 report “Cool Vendors™ in Strategic  Sourcing Technology.”1

Key findings in the report include:

  • Even though the average procurement organization achieved a cost savings goal of  4% in 2020, at least 60% of organizations are under pressure to increase cost savings  even further.
  • Top tactics to achieve cost savings include deploying technology to automate processes and collaborating with suppliers to identify opportunities.
  • AI and analytics are popular topics in procurement, and vendors are incorporating machine learning and virtual assistants, with success in targeted use cases.

Globality’s Platform is used by leading global companies, including British Telecom, Santander, HSBC,  GEA, and Dropbox, to transform the sourcing of high-value services by automating the demand creation,  supplier identification, proposal evaluation and statement of work creation process through an intuitive  self-service experience.

“We are pleased to be recognized as a Cool Vendor by Gartner for bringing artificial intelligence and  state-of-the-art digital solutions to the sourcing and procurement of services, an area that has been  untouched by sophisticated technology and characterized by archaic, analog processes, such as the  paper-intensive RFP,” said Joel Hyatt, the Chairman, Co-founder and CEO of Globality. “Globality is

advancing the concept of ‘Performance Spending,’ which acknowledges the huge impact of a company’s  spend on its overall performance and its ESG goals. We are proud to be partnering with great Global  2000 companies on building a global ecosystem for B2B trade in services that is transparent,  sustainable, and based on the merits of price, quality and performance.”

See why Gartner has recognized Globality as a “Cool Vendor in Strategic Sourcing Technology” here.

1Gartner, “Cool Vendors in Strategic Sourcing Technology,” [William McNeill, Koray Kose, Micky Keck, Patrick  Connaughton, November 11, 2021]

Gartner Disclaimer  

Gartner does not endorse any vendor, product or service depicted in our research publications, and  does not advise technology users to select only those vendors with the highest ratings or  other designation. Gartner research publications consist of the opinions of Gartner’s research  organization and should not be construed as statements of fact. Gartner disclaims all warranties,  expressed or implied, with respect to this research, including any warranties of merchantability  or fitness for a particular purpose. Gartner and Cool Vendors are registered trademarks of  Gartner, Inc. and/or its affiliates in the U.S. and internationally and is used herein with permission.  All rights reserved.

About Globality 

Globality is a Silicon Valley-headquartered technology company co-founded by Joel Hyatt and  Lior Delgo to revolutionize how companies buy and sell services. Through its AI-powered Platform and  marketplace, Globality is bringing digital transformation to the sourcing industry. Globality’s AI digital  solution replaces the archaic analog Request for Proposal, efficiently and effectively scoping needs,  managing demand, matching companies with outstanding suppliers that meet their specific service  needs and cutting the sourcing process from months to hours while delivering savings of 20% or more.  In January 2021, Globality raised $138 million from Sienna Capital and the SoftBank Vision Fund, bringing  the total investment it has raised since its founding six years ago to $310 million. For more information,  visit www.globality.com.

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