by Francis Churchill
Originally published in Supply Management Magazine
Increased oversight from CFOs and other C-level stakeholders on legal spend is increasing the realisation within in-house legal teams that procurement can deliver value when sourcing legal services.
A survey of 300 general counsels and in-house legal professionals at large multinationals found that two thirds (68%) rely on pre-existing relationships to outsource work in foreign jurisdictions.
The research, conducted by Globality, a firm that matches clients with legal services, found companies outsourcing legal work in countries other than their home markets tended go with larger international legal firms despite the better value proposition offered by smaller local practices. …
In the modern business world, smaller companies are often overlooked in favor of large multinationals. This is especially true when it comes to businesses that provide professional services. For clients, this is a missed opportunity. Companies simply can’t rely on finding the most innovative ideas in the usual places, or by continuing to work with partners that are also top of mind with competitors.
There’s a pool of untapped potential in small and medium enterprises (SMEs) — highly capable companies with less than 500 employees that offer superior service, specialized expertise and better value. These organizations, which account for 99% of all businesses in the U.S., …
by Yuval Atsmon, General Manager, Consulting Services at Globality (originally published on MarketWatch)
Still, there are some major risks for investors in betting on tailwind companies at current valuation, and there are underappreciated opportunities in headwind companies that may still have enough time to complete their transformation.
The world’s seven most valuable companies are all tailwind companies: five U.S.-based technology giants and two Chinese ones. Their technology transformed how we work, interact and entertain ourselves and have developed unassailable positions, as their competitive advantage increases with every user and every additional service that may be cross-subsidized across their platforms. They are also strongly positioned to shape the next technology waves, such as the Internet of Things, artificial intelligence, robotics or virtual reality/augmented reality, with huge customer base, massive cloud infrastructure and huge share of talent and investment fueling R&D for future technologies. …
Globality Agency Spotlight: featuring Greenberg Inc. This is a new blog series about the unique stories of small and midsize agencies in Globality’s Service Provider Network. Our community is made up of top small and medium enterprises (SMEs) that are handpicked based on their outstanding talent, award-winning portfolios and local market expertise. Currently, this spans across 80 countries and is growing every day!
Earlier this year, we celebrated our 20th anniversary since officially incorporating Greenberg — and today, we are a strategy consultancy that integrates insights and design thinking to help companies transform. We have always leveraged consumer insights to answer significant questions for our client/partners. Now we are developing products and services to help organizations better understand their employees and the cultures that they operate in — to move towards a frictionless, more empathetic and higher-functioning workplace. …
Globality Agency Spotlight: featuring The Builders Arms. This is a new blog series about the unique stories of small and midsize agencies in Globality’s Service Provider Network. Our community is made up of top SMEs that are handpicked based on their outstanding talent, award-winning portfolios and local market expertise. Currently, this spans across 80 countries and is growing every day!
We wanted to create an agency that was there for the little guy, the entrepreneur and the big companies that want to do things differently.
So, what do we mean by that? Traditional agencies are great for the huge multinational clients who can afford to pay for all those layers of middle management and the inter-departmental manpower that an agency has in-house to service them. And, even if clients are willing to pay all the overheads, the people who work on these projects are often more junior and less engaged. Agencies will deny that, but my partners and I are from that big corporate agency culture in our previous agency lives, and we’ve seen it first-hand. …
by Stefan Zorn, VP Customer Success, Globality (originally published as the first article in a three-part series on Spend Matters Network)
Channel the original Apple Macintosh ad. Remember the people staring into the screen before our hero destroyed it? They weren’t just nameless faces in some Orwellian dystopia.
They were procurement team members tasked with buying services. Category managers led astray by a misguided authoritarian philosophy. Call them part of the services procurement machine, if you will.
This machine still manages to churn out services for the businesses today, but its outputs are often generic, expensive solutions to problems that require the exact opposite to succeed. …
An evening with advertising expert and author, Andrew Essex
While consumers have increasingly grown indifferent to (or even intolerant of) traditional advertising over the last two decades, creativity has turned into a business imperative for brands — a must instead of a nice-to-have.
As a result, marketers need to identify agency partners with the right talent for the right work, instead of leaning on one Agency of Record (AOR) for everything.
“You have to embrace risk a little bit and work with artists,” said Andrew Essex, former CEO of Droga5. He spoke to a room filled with senior brand marketers at a Globality-hosted dinner at Eleven Madison Park in New York on Nov. …
Originally published by Porter Gale, SVP, Strategic Partnerships at Globality
Did I have my “peak career” as an airline executive? I hope not, but years after leaving Virgin America, event moderators still introduce me as, “the former Vice President of Virgin America.” Another industry associate said, “I’m surprised you haven’t done anything since Virgin.” So, I’ve been thinking and I want to share a bit about what I’ve been doing since I left one of the most recognized brands in the world.
Last week, in TechCrunch it was announced that Globality, a company I’ve been helping to build for 2.5 years, raised an additional $35 million, added headcount and expanded our offerings. Without the Virgin brand behind me, most industry associates give me a blank stare when I say I’m with Globality. So, here’s the backstory and a bit about the problem we are solving and the inspiration behind our company. …