AI-powered Autonomous Negotiations

Auctions and contract renewals will never be the same

Save thousands of hours with the Autonomous Negotiation solution that handles every aspect of supplier contracting—renewals, real-time auctions, stakeholder collaboration, and proactive sourcing events—ensuring you lock in the best terms at lightning speed.

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Speed

Rapidly finalize supplier agreements using real-time auction management and AI-powered negotiations. Automated contract renewals and event triggers mean faster deal cycles with minimal to no manual intervention.

Productivity

By intelligently evaluating multiple bids at once, automating stakeholder approvals, and providing a centralized communication hub, teams can make collaborative, data-driven decisions in record time.

Visibility & ease of use

Setting up the auctions and monitoring them in the unified dashboard is an incredibly intuitive experience. The real-time status updates, alerts, and reports ensure clear insights into savings and contract terms, enabling easy adoption across teams.

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How Autonomous Negotiations work for you

Term optimization

Save hundreds of hours of analyses and meetings to negotiate bulk discounts, extended warranties, data-sharing agreements, and other high-impact extras—all with AI-powered simulations that factor in long-term ROI.

Multi-supplier bidding

Get ideal prices, faster, by sending requests to multiple suppliers at the same time. Automatically compare offers, coordinate live auctions, and finalize the best deals for both direct and indirect spending categories.

Cross-functional alignment

Engage other business functions like never before. Optimize legal, finance, and regional teams to engage in negotiations through a central dashboard. Real-time chats and alerts keep everyone in sync for compliance, approvals, and final decisions.

“Before Fairmarkit we had a very manual sourcing process and it took time and what that caused was frustration with our stakeholders. What Fairmarkit has allowed us to do is complete those requirements without the people there. So for example, we have taken our cycle time down by about half and what that means in real terms is our stakeholders get their work and their product and services about 50% quicker.”
Nicholas Wright
Director, Digital and Innovation at bp

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