News & Views
Globality adds generative AI to GLO
Market leader in AI-powered autonomous sourcing, Globality (www.globality.com) enhances its next-generation bot, GLO with generative AI functionality to help companies to achieve up to 20% in cost savings and 70% in efficiency gains.
Powered by ground-breaking generative AI capabilities, GLO represents the latest advancement in intelligent conversational interfaces. This transformative technology-enabled bot efficiently manages an average company spend of $4 billion per customer, empowering workforces to make informed decisions around purchasing products and services and addressing the critical needs of cost reduction and productivity improvement.
As an AI-first company, Globality has dedicated years to developing advanced machine learning capabilities. Now, with the power of generative AI technology, GLO has been supercharged. When it comes to optimizing company spend for maximum returns, GLO does the heavy lifting and serves as a highly knowledgeable, incredibly fast-learning, and talented virtual team member, seamlessly integrating intelligence into every step of the buying process.
Some of the key capabilities of the enhanced GLO include: the ability of the Bot to engage in conversations with users and assist in answering procurement-related questions; guiding users along the right buying path, considering various sourcing types and leveraging deep category expertise; streamlines the purchasing process by replacing the dreaded RFP and defining purchase requirements far faster and more precisely; and maintains institutionalized knowledge and applies acquired learnings consistently.
“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,” says Cyril Pourrat, Chief Procurement Officer and CEO, BT Sourced. “The ease of use and intelligence has earned our team’s trust to place over £3 billion annual spend on Globality’s platform, delivering substantial benefits to BT’s business and operations.”
“Companies can’t cut costs meaningfully while keeping their outdated buying processes. How a company spends is crucial to remaining competitive, driving growth, and fostering innovation. None of this is possible if the archaic purchasing process consumes everyone’s energy with minimal impact,” adds Joel Hyatt, Co-founder, Chairman and CEO, Globality. “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.”
According to research, 82% of companies say that their corporate spend is being mismanaged indicating that there is a growing need for generative AI solutions to help companies to remain competitive, drive growth, and foster an environment of corporate innovation – none of which is possible, when archaic purchasing processes consumes everyone’s energy with minimal impact.