My first week as a Fairmarkit co-op

January 10, 2019

Last week, I started my first official Northeastern co-op at Fairmarkit, and one of my first orders of business was to create a blog about my experience and the company culture. Fairmarkit is a tail spend management SaaS startup. For those that don’t know, tail spend is generally defined as the 80% of transactions that account for 20% of a company’s net spend (small, infrequent purchases). Tail spend management is something that most companies haven’t historically addressed and as a result are wasting a lot of time and money. Our software automates the tail spend management process, saving buyers money and opening up vendors to new clients. At just two years old, Fairmarkit is already connected to some massive companies like the MBTA and Univision. It’s clear to me that the team here is developing rapidly.

For those who have previously been on co-op, you understand that the transition from classes to the workforce can seem slow-moving. When working at a start-up like Fairmarkit, each and every person has a responsibility to help build the company. Whether you’re the Chief Executive Officer, an Account Executive, or a summer intern, your influence heavily impacts the success of the business. Those who work hard and do well at Fairmarkit can see, make, and feel the impact they make.

I began my journey with Fairmarkit as a Business Development Representative co-op. A Business Development Representative (BDR) is responsible for discovering sales opportunities that we believe could benefit from using Fairmarkit’s spend management software. Most introductions begin with a cold call or cold email. We recognize that to some, unsolicited calls are not the most flattering. But, like many start-up businesses, it is the most effective way to get our name on a person or company’s radar. Nevertheless, Fairmarkit’s team of BDRs love when they get push-back on a call. It makes us better at determining strong opportunities and further develops our understanding of the software. For those interested in a business development role, here are a couple of additional requirements that will help you excel as a candidate:

1. Comfortable talking on the phone
2. Active listener
3. Ability to qualify prospects as potential customers and ask qualifying questions
4. Have a competitive drive
5. Excellent foosball player (bonus)

One of the most compelling aspects of working at Fairmarkit is the fast-paced growth. Apart from Fairmarkit’s youthful culture, we are quickly becoming the preeminent tail spend solution provider, creating a niche, untouched by any other ERP/P2P software solutions.

Our company is very close-knit, and very welcoming to new employees. Our office works in unison, like the pieces of an engine motor. Regardless of your role at Fairmarkit, you will be welcomed by everybody with open arms. Fairmarkit is looking for hungry, motivated, driven co-ops to dedicate their semester towards building the company. Fairmarkit’s exponential growth is calling for the brightest minds across all fields of business.

Curious about learning more? Feel free to connect with me on LinkedIn! Happy to answer any questions.

Expert procurement and supply-chain tips sent straight to your inbox.