Fairmarkit revolutionized the MBTA's tail spend procurement process by digitizing its sourcing operations. This resulted in a reduction in source-to-award cycle times, 100% compliance with bidding regulations and an average of $100K in monthly savings.
"Rather than having my buyers send individual emails to suppliers, Fairmarkit enables them to quickly request a quote from 25 suppliers, all at the same time, and facilitate that bid process instantly."
After switching from a prominent, business process outsourcing (BPO) company to Fairmarkit, Univision vastly improved its visibility into nonstrategic spend. They now have greater oversight and are realizing over 15% in cost savings using Fairmarkit’s machine learning platform.
Materion has automated its nonstrategic purchasing using Fairmarkit in order to optimize tail spend management. With an average savings of $48k per buyer since implementing Fairmarkit, Materion’s buyers are transforming their buying processes and reinventing their procurement culture.
Fairmarkit customers realize cost savings of over 15% and significant time savings on their source-to-award cycle time
~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
"When you turn it on, it just works. We saw a one-month ROI."