CA-GLOBALITY
A new survey released today reveals that 90% of global procurement leaders are urgently transforming their operating models and processes to better meet the challenges of today’s volatile, uncertain business world. Conducted by digital procurement consultancy ProcureTech and Globality, the technology company behind the leading AI-powered Platform for sourcing services, the survey gathered insights from more than 170 leaders around the world across all business sectors and company sizes.
The findings highlight that digital transformation will be a top priority for the next three years as global organizations adopt innovative, new technologies that enable them to pivot quickly and react to rising costs from both inflation and supply chain disruptions.
The survey also reveals that the new-look procurement model will be characterized by digital operating processes that reduce costs, inject agility and resilience, increase business value, and enable companies to do more with less as they actively seek ways to reduce costs, gain efficiencies, and improve their bottom line.
Key findings from the survey include:
- 90% of companies expect a relative or significant change in their procurement operating model over the next three years to build more agility and resilience.
- 87% are prioritizing building digital and data teams to gain predictive insights, deploy new technologies, and react more quickly to future disruption and economic change.
- 81% of procurement leaders believe there still needs to be more support from within their businesses to enable this crucial digital transformation.
- 50% of organizations aim to move to a business procurement-centric organization, acting as advisors and business partners rather than executing routine processes.
The economic impact of the global pandemic, inflation, and the war in Ukraine has accelerated procurement’s transformation from a transactional function to a key enabler of business growth with multiple new objectives of agility, transparency, resilience, collaboration, and social impact.
“Procurement has a unique opportunity to lead company performance during these unpredictable times, building vital agility and resilience into supply chains and value chains,” said Globality Chief Revenue Officer Keith Hausmann. “Utilizing innovative digital technology means enterprises no longer have to rely on suppliers in a single location or even a single country, minimizing operational and geopolitical risks while also generating immediate cost savings.”
The survey shows that global procurement leaders understand the crucial role they can play in futureproofing their organizations and positioning them to be able to react more quickly and effectively to meet future unexpected geopolitical disruptions.
“Procurement leaders are looking further ahead,” said Lance Younger, CEO of ProcureTech. “They are creating ecosystems of solutions, anticipating the adoption of new technologies, driving digital-first delivery across the supply chain, and embedding agility in preparation for future changes.”
Click here to download the full report: The Digital Future of Procurement Operating Models & Work
About Globality
Globality is a Silicon Valley-headquartered tech company co-founded by Joel Hyatt and Lior Delgo to connect global companies with the best suppliers at the right price for any sourcing need across every service category. Through its AI-powered Platform and Marketplace, Globality is bringing digital transformation to the sourcing industry. Globality’s AI digital solution replaces the archaic analog Request for Proposal, efficiently and effectively scoping needs, managing demand, matching companies with outstanding suppliers that meet their specific service needs, and cutting the sourcing process from months to hours while delivering savings of 20% or more. In January 2021, Globality raised $138 million from Sienna Capital and the SoftBank Vision Fund, bringing the total investment it has raised since its founding six years ago to $310 million. For more information, visit www.globality.com
About ProcureTech
ProcureTech is on a mission to build the digital future of procurement. Digital is our means of effecting positive change in the world at speed and scale. Collective intelligence from the procurement ecosystem of entrepreneurs, engineers, and architects creates a common, shared cause and momentum.
ProcureTech collaborates with pioneers to create enterprise solutions that amplify procurement performance, accelerating impact for all. For more information, visit www.procuretech.co
View source version on businesswire.com: https://www.businesswire.com/news/home/20220628005596/en/
Link:
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Galderma Opens up New Chapter for Sculptra® with MDR Certification and New Expanded Indication for Body5.12.2025 07:00:00 CET | Press release
Sculptra®, the first proven regenerative biostimulator, has received European Union (EU) Medical Device Regulation (MDR) certification, expanding its current clinical application for the face to include gluteal area, posterior thighs, décolletage, and upper arms1 Studies investigating the efficacy of Sculptra on areas beyond the face show patients experienced progressive improvements in skin quality (including the improvement in cellulite appearance), firmness, lift, projection, and contour Sculptra’s versatility and new indication allow practitioners to shift patient treatment goals beyond rejuvenation toward enhancement, meeting evolving patient needs The certification validates Sculptra’s safety performance, efficacy, and quality, reinforcing Galderma’s commitment to innovation and meeting evolving patient needs Galderma (SIX: GALD), the pure-play dermatology category leader, today announced the certification of Sculptra for body indications in the European Union (EU) following its
Northern Escape Heli-Skiing Takes the Title of “World’s Best Heli-Ski-Operator” for the 4th Year Running5.12.2025 02:40:00 CET | Press release
4x World’s Best Heli-Skiing Operation near Terrace, BC Northern Escape Heli-Skiing (NEH) has been named World’s Best Heli-Ski Operator 2025 by the World Ski Awards, marking its fourth straight victory following years 2022, 2023 and 2024. This recognition places NEH amongst an elite group of ski tourism operators consistently voted best in the world by industry leaders and enthusiasts alike. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251204074550/en/ A four-year run built on reliability NEH operates in British Columbia’s Skeena Mountains, where deep northern snow and vast terrain come together with small-group heli-skiing and heli snowboarding. When helicopters can’t safely fly, NEH has cat skiing readily available as a backup — an exceedingly rare offering in this industry. The operation spans over 833,571 wild acres of alpine bowls, glaciers and old-growth tree skiing. The NEH experience Guests choose from three lodge f
IDE034, a Bispecific ADC Licensed by Biocytogen to IDEAYA, Receives FDA IND Clearance5.12.2025 01:00:00 CET | Press release
Biocytogen Pharmaceuticals (Beijing) Co., Ltd. (Biocytogen, HKEX: 02315), announced that its partner IDEAYA Biosciences, Inc. (Nasdaq: IDYA), a precision oncology company, has received the clearance of an investigational new drug (IND) application with the U.S. Food and Drug Administration (FDA) for the initiation of a Phase 1 clinical trial of IDE034, a potential first-in-class B7H3/PTK7 bispecific antibody-drug conjugate (ADC). IDEAYA expects to begin patient enrollment in Q1 2026, initially evaluating patients with solid tumors known to express B7H3 and PTK7, including lung, colorectal, head and neck, and ovarian/gynecological cancers. IDE034 is a bispecific B7H3/PTK7 TOP1 ADC, independently developed by Biocytogen and licensed to IDEAYA in July 2024. The IND clearance marks an important milestone for this licensed program, supporting subsequent clinical development of IDE034, while highlighting Biocytogen’s technical capabilities in bispecific ADC discovery and development. Dr. Yue
Helical Fusion, Developer of Next-Generation Clean Energy Through Nuclear Fusion, Completes USD 5.5M Series A Extension Round5.12.2025 01:00:00 CET | Press release
Stakeholder base expands with participation from an individual-investor-oriented fund, alongside corporate and individual investors, bringing Total Funding to USD 38M Helical Fusion Co., Ltd. (Head Office: Chuo-ku, Tokyo; CEO: Takaya Taguchi; hereafter “Helical Fusion”), which is developing a next-generation energy source using Japan’s original Helical Stellarator technology to realize commercially viable fusion power plant in the 2030s, announced the completion of its Series A Extension round, raising approximately USD 5.5 million (≈ JPY 870 million). The round included investments from “Ecrowd NEXT”, a fund designed for individual investors, as well as multiple corporate investors and individual investors. As a result, Helical Fusion’s total Series A funding, including loans, amounts to approximately USD 21 million (≈ JPY 3.2 billion), bringing the company’s cumulative fundraising—including grants and loans—to approximately USD 38 million (≈ JPY 6.0 billion). With this funding, Helic
Andersen Consulting udvider sin tilstedeværelse gennem samarbejde med Hilal Technology4.12.2025 23:04:00 CET | Pressemeddelelse
Andersen Consulting indgår en samarbejdsaftale med Hilal Technology for at styrke sine kompetencer inden for digital infrastruktur, cybersikkerhed og AI. Med tilstedeværelse i Bahrain, Saudi-Arabien, De Forenede Arabiske Emirater, Oman og Indien leverer Hilal Technology et komplet spektrum af digital infrastruktur og managed services inden for cloudcomputing, cybersikkerhed, enterprise ai og systemintegration. Deres ydelser omfatter cloudtjenester, sikkerheds- og netværksdrift, implementering af ERP og applikationer samt udvikling af generative ai-kapaciteter. Med et team på mere end 250 fagfolk servicerer firmaet en bred vifte af brancher, herunder den finansielle sektor, olie og gas, logistik og den offentlige sektor. "Transformation er mere end systemer; det handler om parathed, tillid og løbende samarbejde," udtaler Roshan George, direktør for Hilal Technology. "Vi er begejstrede for at samarbejde med Andersen Consulting og levere skalerbare løsninger, der matcher tempoet i den dig
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom