HSBC chooses Globality’s AI self-serve procurement platform
HSBC aims to cut costs, accelerate decision-making and get access to the best suppliers by adopting Globality’s artificial intelligence (AI)-driven self-serve procurement platform, reports Jane Connolly.
By connecting companies with its global Service Provider Network of vetted firms, Globality enables users to scope out projects in hours, find the right suppliers for their unique requirements and avoid the limitations of analogue legacy systems.
“HSBC is a leader in creating a vision for the future of procurement, understanding that the legacy systems of paper intensive RFPs, and sole source negotiations do not result in strategic value,” says Globality co-founder, chairman and CEO, Joel Hyatt.
He adds: “Utilising AI and Globality’s ‘smart sourcing’ process will ensure that all HSBC service providers, large or small, win projects in a transparent digital platform where decisions are based solely on the merits of quality, results, costs and performance.”
The Silicon Valley firm’s solution allows real-time collaboration and, Globality says, gives HSBC’s internal stakeholders access to higher quality, lower cost services.