Globality and HSBC Enter Into Agreement to Realize the Financial Services Leader’s Vision for AI-Driven Self-Serve Procurement

One of the world’s leading and largest banking and financial services
firms to use “smart sourcing” to save costs, improve results, increase
collaboration, and accelerate decision-making

MENLO PARK, Calif.–(BUSINESS WIRE)–lt;a href=”https://twitter.com/hashtag/AI?src=hash” target=”_blank”gt;#AIlt;/agt;–Globality, Inc. announced today that it has entered into an agreement
with HSBC, one of the world’s leading banking and financial services
companies, in which HSBC is adopting Globality’s innovative AI-based
Platform for sourcing and procurement of services.

HSBC is at the forefront of revolutionizing sourcing by enabling its
business stakeholders to do self-serve procurement utilizing Globality’s
artificial intelligence, real-time collaboration and intuitive user
experience. With Globality’s AI-based Platform, HSBC users will be able
to scope projects in hours rather than days, and intelligently match
their unique requirements to the best suppliers around the world.

Finding the best service provider at the right price for every project
is impossible to achieve with legacy systems that are mostly analog and
are not continuously learning, capturing knowledge, or digitally sharing
results and feedback. As a result, companies do not get maximum value
from third-party suppliers. Nor do they get the unprecedented access to
a worldwide network of highly qualified, carefully vetted firms that are
members of Globality’s Service Provider Network.

“We are very grateful for the opportunity to work with HSBC’s
procurement team to advance their vision of a fully automated
procurement process that enables their internal stakeholders to source
higher quality, lower cost services. 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. Utilizing AI technology and Globality’s
“smart sourcing” process will ensure that all HSBC service
providers, large or small, win projects in a transparent digital
ecosystem where decisions are based solely on the merits of quality,
results, costs, and performance,” said Globality Co-founder, Chairman,
and CEO Joel Hyatt.

Globality’s Platform provides companies with a highly secure and digital
way to fully scope projects, engage qualified suppliers, assure pricing
and quality competition, effectively evaluate proposals, and make
informed sourcing decisions. In addition, using Globality’s Platform
significantly accelerates the entire procurement process, enabling far
faster speed to market.

About Globality

Globality is a Silicon Valley-headquartered tech company co-founded by
Joel Hyatt and Lior Delgo to connect multinational companies with the
world’s best service providers at the right price for every project.
Through its AI-powered Platform, Globality is bringing
digital transformation to the sourcing industry. Globality’s
Artificial Intelligence efficiently matches companies
with outstanding service providers that meet their specific needs,
cutting the sourcing process from months to hours, and delivering
savings of 20 percent or more for companies. In January 2019, Globality
raised $100 million from the SoftBank Vision Fund, bringing to $172
million the total investment it has raised since its founding four years
ago. For more information, visit Globality’s website.

Contacts

Kathy Makranyi
Globality, Inc.
kathy.makranyi@globality.com

Jacklyn Kellick
Lewis PR
Globality@teamlewis.com

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