Business leaders know that cost savings come in various forms; realized savings, cost avoidance, time, FTEs and even compliance. Atlantic Methanol, Materion and the MBTA came to Fairmarkit to help identify, simplify and save on their tail spend.
Leading global companies don’t measure innovation on a single scale - they measure it in process improvements, in technological evolution, in communication and more.
To successfully solve BT and Refinitiv’s varying needs for process innovation, Fairmarkit introduced a host of data, reporting and intelligent technology to transform their sourcing process. From centralized dashboards allowing managers to strategically manage their spend, data reporting and analytics helping BT glean deep insights into their organization’s spend and unify their buying teams, and even implementing AI technology to automate manual processes at Refinitiv.
“At BT, we are committed to excellence in sourcing, which includes leveraging data and automation to reimagine our processes. Fairmarkit enhances our procurement function by automating tactical parts of the process and giving data insights into our activities, so our team can focus on driving maximum impact.”
Fairmarkit’s centralized dashboard is a crucial part of Cabot’s solution—especially with the organization’s desire to see the bigger picture, share knowledge, and improve processes across the enterprise. The procurement team is no longer being consumed by tactical activities and instead focusing on strategic analytics to unlock further potential value. Now, Fairmarkit allows Cabot to track the metrics that matter to them and their customers.
“Part of the value of Fairmarkit is that it is a different way to approach an age old problem... Refinitiv’s implementation & scale of the Fairmarkit solution has been fast and successful. We went live within a few weeks and with only a small amount of effort by our Sourcing Center of Excellence."
