Mega-bank HSBC has chosen the Globality AI system as the self-serve procurement platform it will offer corporate banking clients.
The goal is to cut costs, improve quality and speed of decision-making and get access to the best suppliers by adopting Globality’s AI-driven software. By connecting client companies with its global Service Provider Network of vetted firms, Globality enables users to research projects within hours, find the right suppliers for their unique requirements and avoid the limitations of analogue legacy systems.
Globality co-founder, chairman and CEO Joel Hyatt said, “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."
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-based firm’s AI solution allows real-time collaboration and gives HSBC’s internal stakeholders access to higher quality, lower cost services.
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