By automating 75%+ of sourcing tasks, Fairmarkit gives Novozymes stakeholders more time to focus on strategic initiatives
Today, Fairmarkit, the automated sourcing solution transforming the procurement of products and services for enterprises, announces Novozymes, the global market leader in biological solutions, as a new customer realizing cost savings goals, managing risk and continued growth with Fairmarkit.
Fairmarkit’s automated solution equips procurement and supply chain teams with the tools they need to more effectively source necessary products and services, while significantly reducing manual efforts, increasing cost savings and enabling stronger compliance and policy adherence. As a Fairmarkit customer, Novozymes is uniquely positioned to improve efficiencies, free up employees to do more critical and complex tasks and work more closely with external product and service providers.
“The mutual trust that we developed with the Fairmarkit team during the selection phase made the decision to work together an easy one,” said Louise Noer, Director of Indirect Sourcing at Novozymes. “We’ve already implemented and started using the platform, and we’re excited to not only address our currently dormant spend, but give more attention to corporate spend with existing resources, helping us expand our footprint and achieve long-term success.”
The ever-evolving business landscape demands agility, and processes in the procurement world are outdated and inefficient. The Fairmarkit process is simpler and easier for buyers to use because it streamlines all product sourcing through AI and data analytics-based recommendations. As more sourcing inquiries are run, the platform makes further customized recommendations, allowing companies to make more informed decisions about their spend in the future.
“We’re honored to have a customer of Novozymes’ stature and are thrilled to help enable growth of their company and scale procurement operations as they expand,” said Kevin Frechette, Co-founder and CEO of Fairmarkit. “We are thrilled to find Novozymes best-in-class, diverse suppliers, helping them realize cost savings goals and meet their ESG and DEI goals.”
Fairmarkit was named #159 on the Inc. 5000 Fastest Growing Company list and currently serves enterprises such as Boeing, BP, British Telecom, Cabot Corporation, Emirates Flight Catering, ServiceNow, Refinitiv, and Snowflake. Fairmarkit was recognized by Forbes as one of America's Best Startup Employers 2023, and customers have experienced 11.5% cost savings on purchases and a 60%+ reduction in manual efforts.
Fairmarkit is the autonomous sourcing platform that empowers organizations to more efficiently purchase the goods and services they need. By equipping procurement and supply-chain teams with automation and data, Fairmarkit promotes competitive bidding while reducing manual work within existing processes. Leveraged across a number of industries by innovative procurement departments, such as BP, Snowflake, Cabot Corporation, and Refinitiv, Fairmarkit aims to revolutionize the way organizations make purchases. Learn more at http://www.fairmarkit.com
Novozymes is the world leader in biological solutions. Together with customers, partners and the global community, we improve industrial performance while preserving the planet's resources and helping build better lives. As the world's largest provider of enzyme and microbial technologies, our bioinnovation enables higher agricultural yields, low-temperature washing, energy-efficient production, renewable fuel, and many other benefits that we rely on today and in the future. We call it Rethink Tomorrow. www.novozymes.com
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