Technology companies Globality and Aquanima, a subsidiary of Banco Santander, which is active in procurement process management, have agreed that Aquanima will use Globality’s Smart Sourcing Platform to enable better artificial intelligence (AI) to define requirements and select suppliers. This is a press release dated Tuesday (March 23rd) said.
Globality’s platform uses AI technology to automate the creation of requirements, supplier identification, bid evaluation and the presentation of work processes.
Now Banco Santander users can leverage “Glo”, the Globality AI advisor, and natural language processing technology to more easily find the best suppliers in areas such as consulting, marketing, IT, finance and legal, HR and real estate services .
According to the press release, the collaboration will enable customers to be “more agile”. Joel Hyatt, Globality Co-Founder, Chairman and CEO, said Santander “is known for being at the forefront of using technology to create a competitive advantage and that by working together we procure services through engagement transform by AI. “
According to the press release, Jorge De la Vega, Global Head of Aquanima added, “It represents an evolution of our procurement function towards a more strategic vision and allows us to improve collaboration by increasing our value proposition for the user.”
“Strengthening our product offerings and customer value is fundamental to Santander and digitizing our processes has become our priority to achieve this,” said Javier Maldonado, head of the group’s cost department.
The procurement of services has gone through the digitization process associated with the pandemic. Keith Hausmann, Globality’s chief revenue officer, said it was important that there are adaptable and sustainable ways to deliver any type of service. Hausmann said that many companies used to rely on old workflows and strategies to find service providers and that they haven’t always got the best results.
Instead, he said it was important for companies to understand their needs and be transparent about them.
——————————
PYMNTS STUDY: A new approach to modernizing payments in banking – 2021
About the study: A New Approach to Modernizing Payments in Banking, a PYMNTS collaboration with Red Hat and Temenos, is a research-based report that examines the trends that are transforming retail and how these shifts create new challenges and opportunities for banks. The report aims to provide a roadmap for banks to acquire the technical capacity to support digital payments in all its forms.