Fairmarkit

Overview

Fairmarkit is an autonomous sourcing platform based in Boston, founded in 2017. The company specializes in enhancing how enterprise procurement teams manage their tail spend, which represents a significant portion of suppliers but a smaller share of overall spending. Fairmarkit aims to improve purchasing efficiency by automating and optimizing procurement processes using artificial intelligence and generative AI technologies.

The platform automates the creation and management of sourcing events, allowing procurement teams to handle many more sourcing events per employee. This leads to substantial cost savings and helps organizations diversify their supply chains by identifying new suppliers. Fairmarkit also integrates with external marketplaces, such as Amazon Business, to ensure competitive pricing. The company serves a wide range of large enterprises across various industries, including retail, manufacturing, and technology, with notable clients like Walgreens, Nestlé, and Boeing.

Basic Information

Contact Details

• Phone: +1 800-558-8017
• Website: fairmarkit.com
• LinkedIn: linkedin.com/company/fairmarkit

Key Focus Areas & Initiatives

• Software procurement
• Esourcing for enterprises
• Financial software solutions
• Supply chain optimization
• Eprocurement automation
• Automated sourcing with AI
• Tail spend management
• Intelligent sourcing processes
• B2B e-commerce platforms
• Generative AI procurement
• Reverse auctions & workflow automation
• Supplier market intelligence
• Integration with external marketplaces
• Cost reduction and savings optimization
• Procurement scalability for large enterprises
• Supplier discovery and diversity enhancement
• Risk management in procurement
• Supplier matching and engagement tools
• Spend analytics and AI-powered insights
• Supplier performance data
• Automated negotiation and bid management
• ERP integration and bi-directional data flow
• Procurement workflow automation
• Compliance goals support
• Collaborative sourcing solutions
• Customer satisfaction initiatives
• Procurement process digitization
• Artificial intelligence in procurement
• Machine learning for sourcing and spend optimization
• Enterprise procurement platforms

Technologies Used

• Amazon AWS
• Amazon SES
• Atlassian Cloud
• CrazyEgg
• Digital Ocean Spaces
• Drift
• FullStory
• Gmail
• Google Analytics
• Google Apps
• Google Tag Manager
• Greenhouse.io
• Linkedin Marketing Solutions
• Marketo
• Mobile Friendly
• OneTrust
• Python
• React
• Remote
• Route 53
• Vimeo
• Webflow

Affiliated Organizations & Regional Branches