Globality Named as No.1 AI-driven Autonomous Sourcing Solution by Leading Industry Analyst Spend Matters

- Only AI-driven sourcing platform to be included in the annual ‘50 to Know’ list that identifies best-in-class procurement technology vendors

- First to introduce AI-Powered Negotiations, extending category lead

PALO ALTO, Calif.--(BUSINESS WIRE)--Globality, the market leader in AI-driven autonomous sourcing, has been honored in the 2024 edition of the prestigious Spend Matters ‘50 to Know’ – the industry ratings that recognize the best-in-class companies in the procurement and supply chain market.

Globality is the only autonomous sourcing platform included in the list, about which Spend Matters says: “These are firms you need to know; they lead the charge on new procurement technologies and services, setting the industry standard. Vendors listed are independently selected by our analyst team over multiple rounds of debate, focusing on factors such as innovation, market presence, tech competency, and solution delivery.”

Globality is trusted by Fortune 500 and Global 2000 companies such as BT, Fidelity Investments, Invesco, Santander, Tesco, T. Rowe Price, and UCB Pharma to support growth by improving business outcomes for all enterprise spend, driving down vendor costs, upgrading decision-making, and improving risk management.

This week, Globality extends its lead in the autonomous sourcing category by introducing a unique AI-powered feature that automates the negotiation process, allowing its AI agent Glo to run multiple rounds of negotiations autonomously in a time window set by the customer. Glo is the only sourcing platform where providers can see their ranking change in real-time, creating price pressure on large-value projects.

“Globality’s AI-powered platform transforms the sourcing process by facilitating effective competition, automating scalable processes, and delivering meaningful insights to make better decisions,” said Bertrand Maltaverne, Lead Analyst, Upstream Procurement, Spend Matters. “Its AI agent, Glo, provides comprehensive support from intake to award, covering intake and sourcing, supplier network, orchestration, powered with AI-enriched proprietary data. Glo effectively manages varied spend categories, including tail spend and strategic spend.”

Named Best Technology Provider at this year’s World Procurement Awards, Globality's platform is built with native AI technology to give business, finance, and procurement leaders more visibility and control over all their company spend, freeing up funds to create new opportunities for investment and growth.

“We are delighted to be the first AI-driven autonomous sourcing solution to be named as one of the Spend Matters ‘50 to Know’,” said Joel Hyatt, Co-Founder, Chairman, and CEO, Globality. “This recognition confirms Globality as the only platform global enterprise companies require for all their sourcing needs, putting an end to unmanaged spend and enabling procurement to become a stronger partner to every line of business.”

About Globality

Named Best Procurement Technology Provider at the 2024 World Procurement Awards, Globality was founded with a simple but lofty goal: to use AI to transform enterprise spending into a smarter, fairer process, and create more efficient, inclusive markets around the globe. We’ve spent nearly a decade building an AI-first solution that achieves our goal and then some, empowering enterprises to spend smarter. www.globality.com