Fairmarkit.com Website Review

Fairmarkit leverages machine learning technology to provide unmatched visibility into and control of the tail Up to 40% better pricing, 30% quicker procurement, across 4x more vendors. Founded in the heart of Boston, Fairmarkit is a SaaS platform that optimizes visibility and control into tail spend processes. While tail spend accounts for only 20% of an enterprise’s annual spend, it makes up 80% of the vendors and transactions, creating a management nightmare. Fairmarkit’s simple tail spend management platform uses machine learning to increase procurement control, yielding greater Fairmarkit puts your data to work for you. By tracking and an*lyzing tail spend transactions and trends, Fairmarkit identifies operational risks and automates the process of obtaining the best prices from trusted vendors. Using machine learning techniques, Fairmarkit identifies the right vendors to compete for each tail spend purchase. On average, customers Fairmarkit simplifies and streamlines the RFQ process, allowing buyers to spend an average of 30% less time on bids and tripling the Fairmarkit auto-populates vendors based of manufactures, part numbers, and free-text Gain ability to select pre-set and customized groups of registered vendors Enable Fairmarkit to auto-invite non-registered vendors when additional competition is needed Clearly identified which vendors are registered & non-registered at your company View a clean dashboard to track Drafts, Open, Closed, and Awarded requisitions Easily send out dozens of imported requisitions in minutes Setup your specific KPIs and track them in real time Monitor tail spend adoption in 1 simple report The purpose of the Request for Quote (RFQ) is to leverage economies of scale to drive pricing down, and reach the best value purchase. The historic balancing act has always been to determine how much time should be spent sending out the requests. With Fairmarkit, you don’t have manage the trade-off of your team’s time versus spend under management as you can easily automate the sourcing process.