Maximizing cost savings is crucial to staying competitive in today's markets. Leverage Fairmarkit's automated buying platform to minimize source-to-award cycle times while achieving cost savings of over 15% on non-strategic spend.
Fairmarkit customers use our fully automated procurement process to realize cost savings of over 15% and significant time savings on their source-to-award cycles
~90% of requests receive a bid below the benchmark within 4 hours
Every RFx sourced through our platform receives, on average, at least 3 bids
Over 15% savings realized on purchases made through our marketplace
Tail spend is the non-strategic, non-complex spend, that accounts for a relatively small percentage of a company’s overall spend, but a disproportionately large percentage of its total transaction volume and vendor base.
Stop wasting time collecting quotes via phone and email. Fairmarkit handles all vendor communication and centralizes responses for analysis.
Our patented technology sources goods and services, leveraging your own vendor base and over 300,000 vendors in our ecosystem.
Minimize the volume of purchase orders you create while maintaining visibility. Fairmarkit automatically bundles requisitions from your ERP or P2P.
Monitor your team's performance with key insights from Fairmarkit's analytics.
Analyze spend performance metrics to ensure alignment with departmental and strategic objectives.
Over $10B+ has been analyzed through our marketplace
We have supported over 300,000 bids from suppliers
We have processed over 25,000 RFPs and RFQs in under 2 years
“At ServiceNow, our procurement mission is to enable a strategy that optimizes for both the end user experience and business value. Fairmarkit's automation, simplicity and 2-month ROI delivered on these objectives.”
"Fairmarkit is quickly becoming the preeminent tail spend solution provider. They are creating a niche using automated processes to group unstructured data that aggregates previously disassociated data into actionable insights for a team to leverage and drive value."
“Simply put, Fairmarkit automates our tail spend sourcing activity. We set up criteria within Fairmarkit to streamline the decision-making process around what qualifies as tail spend activity, and the system provides RFQ feedback in the required 48 hours. allowing us to leverage aggressive pricing with a trusted vendor. Checks both boxes of saving time and money.”
“Procurement organizations of all sizes continue to see cost reduction as their #1 objective. Fairmarkit’s innovative approach to optimizing tail spend will undoubtedly offer a solution and separate its clients from the rest of the pack.”
"When you turn it on, it just works. We saw a one-month ROI."