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
NIQ and Displayce Collaborate to Bring Sales Lift Measurement to Europe’s DOOH Advertising Market16.9.2025 18:00:00 CEST | Press release
NIQ, a leading consumer intelligence company, and Displayce, a pioneering specialist technology suite for Out-of-Home advertising, are collaborating to bring advanced measurement capabilities to the European DOOH market. By combining NIQ’s trusted consumer intelligence with data from Displayce’s media activation platform, advertisers can link DOOH campaigns to in-store sales performance — driving transparency and accountability across the DOOH ecosystem. NIQ has long been a trusted source of consumer purchase insights for manufacturers and retailers, capturing the buying behavior of millions of households across more than 90 countries. Now, NIQ is extending its expertise and insights into the media ecosystem, empowering advertisers and agencies with new data assets and measurement solutions to improve their understanding of consumers and drive better ROI. Through the collaboration, NIQ and Displayce are driving the DOOH ecosystem toward more addressable, transparent, and results-driven
Capcom’s Resident Evil Requiem, the Latest Title in the Series, Also Coming to Nintendo Switch 2 on February 27, 2026!16.9.2025 15:00:00 CEST | Press release
– Additionally, two other Resident Evil series titles to be released for the console on the same date in step with Capcom’s multi-platform strategy – Capcom Co., Ltd. (TOKYO:9697) today announced that Resident Evil Requiem, the latest title in the Resident Evil series scheduled for release on February 27, 2026, for PlayStation®5 system, Xbox Series X|S, and PC, will also be released for Nintendo Switch™ 2 at launch. In addition, Resident Evil 7 biohazard and Resident Evil Village, two other titles in the series, will also be released for Nintendo Switch 2 on the same date. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250916064724/en/ Resident Evil Requiem Key Art Resident Evil Requiem is a survival horror game that serves as the ninth main installment in the series. The title is being developed using RE ENGINE, Capcom’s proprietary game engine, and leverages Capcom’s extensive development experience cultivated over numerou
Aker BP Leverages Cognite Atlas AI™ to Pioneer an AI-First Future in Exploration and Production16.9.2025 15:00:00 CEST | Press release
Human insight and autonomous agents work together to transform operations, enhance efficiency, improve safety, and unlock new value across the enterprise. Aker BP, one of Europe's largest independent oil companies, and Cognite, the global leader in industrial AI, deepen their strategic partnership through the expanded adoption of Cognite Atlas AI™,harnessing the power of AI agents to improve efficiency, reduce costs, and elevate productivity. This enhanced collaboration puts Aker BP at the forefront of leveraging agentic AI to drive significant value and transform its operations. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250903134233/en/ Aker BP Leverages Cognite Atlas AI™ to Pioneer an AI-First Future in Exploration and Production Aker BP's "AI-first strategy" was developed to help lead the energy sector into a data-driven future by seamlessly integrating AI applications within industrial settings and business objectiv
GlobalPlatform to Drive Next Phase of Growth for PSA Certified, Accelerating Security Adoption16.9.2025 15:00:00 CEST | Press release
Founded by Arm and industry partners, PSA Certified will continue to evolve under GlobalPlatform’s governance as the trusted global standard for secure connected devices GlobalPlatform announced today it will assume governance of PSA Certified, the global security certification scheme launched by Arm and key partners in 2019. In this next phase of growth, GlobalPlatform—the global standards organization for secure digital services and devices—will drive further collaboration, broader industry participation, and greater regulatory alignment for PSA Certified. Since its launch, PSA Certified has become a globally adopted framework that helps manufacturers and developers build secure connected products based on a Root of Trust. It aligns key security components—such as device identity, cryptography, attestation, and secure boot—with certification needs, regulatory requirements, and global best practices. To date, more than 250 products — spanning silicon, software, and devices—have been c
Moody’s Agentic Solutions to Automate Complex Workflows and Speed Human Decision-Making16.9.2025 14:00:00 CEST | Press release
Moody’s today announced Agentic Solutions, a groundbreaking addition to its suite of AI-powered offerings designed to transform how organizations make decisions in complex, high-stakes environments. The new solutions empower organizations to act with greater speed, precision, and confidence than ever before, reshaping how risk is decoded, opportunities are identified, and decisions are made. “For over a century, our customers have looked to Moody’s for premium data, trusted insights, and cutting-edge solutions to help them make better, more informed decisions,” said Rob Fauber, President and CEO of Moody’s. “Agentic Solutions is a natural extension of our legacy of investment and innovation – anchored in the strength of our industry leading data-estate and the depth of our people’s analytical skills. By integrating agentic capabilities into the workflows of our customers, we are supercharging the speed and precision at which we can help our customers understand risk and unlock opportun
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