**London**: Globality has launched enhanced pricing analysis tools for its AI Agent, Glo, aimed at helping Global 2000 companies optimise procurement, manage risk, and improve business value, enabling teams to make informed decisions through advanced data analytics and visual insights.
Globality, a prominent player in AI-driven spend management, has unveiled advanced pricing analysis capabilities for its AI Agent, Glo. This development aims to assist Global 2000 companies in streamlining procurement processes, minimising risk, and enhancing overall business value through a better understanding of pricing proposals.
The technology enables procurement and business teams to query Glo for project pricing information using natural language. This feature is part of Globality’s broader platform, which oversees a wide range of organisational spending, from simpler tail spend to complex service categories. Glo is designed to instantly generate detailed, shareable insights in the form of summaries and dynamic data visualisations.
Cyril Pourrat, Chief Procurement Officer at BT Group, noted the platform’s extensive impact, stating, “Our team saw immediately that Globality’s autonomous sourcing platform is the complete suite. Two-thirds of my spend right now is going through Globality. It’s huge, in the billions of pounds.” This statement underscores the significant role that Globality plays in the procurement strategies of major corporations.
These new AI capabilities are expected to address a pressing concern among procurement organisations. According to a report from Gartner, 63% of procurement professionals worry they will lose their competitive edge without improved data analytics. The report highlights that while AI is expected to drive productivity and reduce costs, such benefits remain unfulfilled if users cannot trust the outputs of their technological systems.
Glo’s pricing analysis tools facilitate the evaluation of both internal and external supplier data, allowing companies to benchmark pricing proposals against industry standards and past spend. This capability empowers procurement teams to make informed, data-driven decisions. Dynamic charts and graphs, along with exportable reports, will assist businesses in deriving insights quickly.
Lior Delgo, Co-Founder and President of Globality, stated, “Already the most advanced AI Agent in procurement, Glo’s groundbreaking new capabilities enable leading global companies to better manage risk, boost efficiency and productivity, and create new value that goes straight to the bottom line.”
By analyzing large volumes of complex internal data alongside external market insights, Glo mirrors a significant trend in procurement towards enhanced data analysis and relationship management. This evolution is crucial as organisations navigate increasingly complex market environments, suggesting that improved supplier relationship management and innovative procurement strategies will be fundamental for future competitiveness.
Source: Noah Wire Services
