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Projects and Savings

Sourcing Isn’t a Single Event. It’s an Entire Strategy.

Connected. Finance-grade. Agent-ready. Projects and Savings brings the category strategy, the sourcing events and the savings number into one place.

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Projects and Savings Capabilities: Project Workspaces, Linked Sourcing Events and Savings Initiatives

Project Workspaces bring every sourcing initiative into one place, from category strategies and competitive events to contract negotiations and supplier improvement programs. Each project holds the milestones, tasks, documents and owners needed to deliver the outcome.

Start from a template with your own fields, statuses and workflow rules. Stay focused on stakeholder alignment while status and deadlines stay with the work, and standardize how every category team plans.

Launch RFx events directly from the project, and every event keeps its context: the strategy, the team and the documents behind it. Run a multi-event category strategy from one workspace instead of stitching status together across tools.

Stay in the project from the first RFx to the award, then open the savings initiative from the same place.

A savings initiative starts from the award, so there’s nothing to re-key. Your own definitions set the baseline and the calculation method, and cost savings and cost avoidance are tracked separately, so no dollar is counted twice.

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Finance sees estimated, forecast and actual savings by month, rolled up to fiscal-year and category goals. Every number traces back to the award line and the definition behind it.

Additional Features

Project Templates and Workflows

Admins build templates with custom fields, statuses and workflow rules, so every initiative starts your way.

Milestones, Tasks and Documents

Define the major steps, assign owners and due dates, and keep every document with the work.

Cost Savings and Cost Avoidance

Track them separately, so no dollar is counted twice. Each awarded line claims one type.

Configurable Savings Definitions

Set baselines, calculation methods and savings types once. The right definition applies at award.

Finance Workbench and Fiscal-Year Goals

Finance reviews estimated, forecast and actual savings by category and spreads forecasts by month.

Project Teams and Permissions

Bring finance, legal and sponsors onto the project so they see program status, not one RFx at a time.

Program Visibility

See what’s planned, what’s progressing and where work needs attention across every initiative.

Audit Trail

Savings changes are audited, and methodology updates apply going forward, so reported history holds.

You take a picture of something and it goes directly to a catalog, directly to a punch out—a PR gets put out, it's all happening on the back end and I can trust that it's happening. Anytime I order, it's not a question of is it ordered—it's ordered. I took a picture. It's ordered.

Tiffany Andrews, Sr Manager Indirect Procurement Center of Excellence at Boeing

Cycle times were an issue, and we never want to stop improving those cycle times, so we were able to reduce them 40 to 50%...From the point where somebody had to describe what they were looking for to the point where we select the right supplier for that event, cycle times were improved substantially

Vanya Petrovic, Global Director of Digital Procurement at CCEP

Before Fairmarkit, our sourcing process was manual and frustrating for stakeholders. With Fairmarkit, we’ve automated those workflows, cut cycle time in half, and now deliver products and services about 50% faster.

Nicholas Wright, Director, Procurement at BP

Facts & Figures

500+
Hours saved in SOW creation
100%
Compliance rates
2-4x
Average increase in total events