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4.6 out of 5 stars
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Fairmarkit Reviews & Product Details

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Diogo B.
DB
Sourcing porject manager
Small-Business(50 or fewer emp.)
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What do you like best about Fairmarkit?

Easy to use anf the numbr of features is very good Review collected by and hosted on G2.com.

What do you dislike about Fairmarkit?

Not many in reality to be considered in my opinion Review collected by and hosted on G2.com.

What problems is Fairmarkit solving and how is that benefiting you?

It helps us in strategic sourcing Review collected by and hosted on G2.com.

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Fairmarkit Overview

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What is Fairmarkit?

Fairmarkit is an autonomous sourcing platform that transforms tail spend and strategic spend so organizations can source more competitively at scale. It integrates with ERP and P2P systems to automate manual source-to-award workflows so procurement teams can manage 10x more events and reduce cycle times by 40% without adding resources. Fairmarkit’s AI-powered supplier recommendations find the best-fit suppliers for every event by leveraging an organization’s procurement data, as well as the thousands of buyer & supplier interactions on the Fairmarkit marketplace everyday. The resulting competitive bidding helps buyers uncover over 11% cost-savings across categories without compromising on compliance and ESG requirements. Fairmarkit's GenAI sourcing intake tool, named KIT, helps procurement teams capture more spend and deliver a best-in-class experience to business stakeholders. KIT can ingest user requests, generate an SOW, route the spend based on internal policies, and even automate the creation of RFx to go from intake to sourcing in minutes rather than months.

Fairmarkit Details
Product Website
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Fairmarkit Community
Languages Supported
German, English, French, Italian, Spanish, Chinese (Simplified)
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Product Description

Fairmarkit offers procurement and technology professionals an automated intelligence platform built to help reduce the time spent requesting, managing & interpreting quotes, while also increasing the amount of competitive bids to drive prices down.

How do you position yourself against your competitors?

Fairmarkit believes that effective spend management prioritizes automation and leverages data, allowing procurement teams to reorient their time and focus towards enabling strategic initiatives. By collaborating within the procurement ecosystem to understand customer needs, Fairmarkit empowers companies to leverage machine learning and artificial intelligence to create market competition, which minimizes manual touchpoints and maximizes spend.

Seller Details
Seller
Fairmarkit
Company Website
Year Founded
2017
HQ Location
Boston, MA
Twitter
@FairMarkIT
605 Twitter followers
LinkedIn® Page
www.linkedin.com
122 employees on LinkedIn®
Description

Fairmarkit is a procurement technology company that specializes in automating and optimizing the sourcing process for organizations. Their platform leverages artificial intelligence to enhance supplier discovery, streamline procurement workflows, and drive cost savings. By providing tools that facilitate data-driven decision-making, Fairmarkit helps businesses improve efficiency in their purchasing activities while ensuring compliance and visibility throughout the procurement lifecycle. For more information, visit their website at [fairmarkit.com](https://fairmarkit.com).

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Overview Provided by:
Niket Anjaria

Recent Fairmarkit Reviews

Diogo B.
DB
Diogo B.Small-Business (50 or fewer emp.)
4.0 out of 5
"Personal experience"
Easy to use anf the numbr of features is very good
Read more
Verified User
C
Verified UserEnterprise (> 1000 emp.)
3.5 out of 5
"Good application for those who don't have a lot of time or experience."
I like how easy it is to find suppliers who can deliver what I need, and that I don't have to spend hours finding and researching them.
Read more
CA
Chris A.Mid-Market (51-1000 emp.)
4.5 out of 5
"I am a user of Fairmarkit as a Purchasing Agent"
Fairmarkit is a great way to receive bids all in one place. It makes it easier to reach out to vendors who normally would not be reached. All bids ...
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Fairmarkit Media

Fairmarkit Demo - Analyze results
For RFP events, Fairmarkit allows you to keep all evaluation and scoring information in one place to make awarding decisions easy. Invite evaluators to seamlessly evaluate and score all or select supplier responses. View all supplier responses side-by-side for fast comparison.
Fairmarkit Demo - Create requisitions
Integrate Fairmarkit directly into your existing enterprise resource planning (ERP) and procure-to-pay (P2P) platforms to create a seamless buying experience. Choose which requisitions you want to source through our platform and seamlessly send the RFx data to Fairmarkit.
Fairmarkit Demo - Source vendors
After importing or creating your requisition, use Fairmarkit's artificial intelligence to recommend approved vendors that can provide the requested goods or services. You can also add other non-registered vendors from the Fairmarkit vendor ecosystem. After selecting vendors, submit your request a...
Fairmarkit Demo - Award bid
Within 24 hours of sending out your request, vendors will submit quotes which will be centralized in one place for you to process. Our machine learning algorithms will make recommendations based on the responses received. If your request has multiple items, you have the option to award to one or ...
Fairmarkit Demo - Procurement AI
Fairmarkit offers AI and automation in various ways to make sure that sourcing your events is as easy as possible. Guided RFP creation will suggest sections and questions for RFP users to speed event creation.
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16 out of 17 Total Reviews for Fairmarkit

4.6 out of 5
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16 out of 17 Total Reviews for Fairmarkit
4.6 out of 5
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16 out of 17 Total Reviews for Fairmarkit
4.6 out of 5
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Fairmarkit Pros and Cons

How are these determined?Information
Pros and Cons are compiled from review feedback and grouped into themes to provide an easy-to-understand summary of user reviews.
Pros
Cons

Overall Review Sentiment for FairmarkitQuestion

Time to Implement
<1 day
>12 months
Return on Investment
<6 months
48+ months
Ease of Setup
0 (Difficult)
10 (Easy)
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Verified User in Oil & Energy
CO
Enterprise(> 1000 emp.)
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Review source: G2 invite
Incentivized Review
What do you like best about Fairmarkit?

I like how easy it is to find suppliers who can deliver what I need, and that I don't have to spend hours finding and researching them. Review collected by and hosted on G2.com.

What do you dislike about Fairmarkit?

Some of the suppliers seem to be rather worthless, or not a good fit. Review collected by and hosted on G2.com.

What problems is Fairmarkit solving and how is that benefiting you?

Fairmarkit expedites the procurement process, streamlining the procurement of less technical goods through automated sourcing. It helps us manage our tail spend by rationalizing our suppliers, consolidating spend to fewer suppliers in a more transparent and trackable way. Review collected by and hosted on G2.com.

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CA
Purchasing Agent
Mid-Market(51-1000 emp.)
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Verified Current User
Review source: G2 invite on behalf of seller
Incentivized Review
What do you like best about Fairmarkit?

Fairmarkit is a great way to receive bids all in one place. It makes it easier to reach out to vendors who normally would not be reached. All bids and requests are organized neatly in one place.

The software is simple to use and implement. It didn't take long at all to get rolling with our company. Review collected by and hosted on G2.com.

What do you dislike about Fairmarkit?

The only issue I had with Fairmarkit is being addressed: the inability to bundle different requests. Until now, I had to separate each request to its own individual RFQ. Review collected by and hosted on G2.com.

What problems is Fairmarkit solving and how is that benefiting you?

Sending requests out for bids to vendors for purchasing at our mills. Review collected by and hosted on G2.com.

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Biswajit D.
BD
Quality Manager
Enterprise(> 1000 emp.)
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Verified Current User
Review source: G2 invite on behalf of seller
Incentivized Review
What do you like best about Fairmarkit?

We have a migration from our leagcy tool to Fairmarkit, and as always I was sceptical on adopting a new tool, however so far the experience have been remarkable and quite easy to use and user friendly. Review collected by and hosted on G2.com.

What do you dislike about Fairmarkit?

None that i found till now. However in times we have seen vendors are not onboarded with the tool or updated and they take time to share bid. Review collected by and hosted on G2.com.

What problems is Fairmarkit solving and how is that benefiting you?

Able to compare prices from multiple vendors and select best one. Review collected by and hosted on G2.com.

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Juan Carlos Michel, C.
JC
Senior Supply Chain Manager
Enterprise(> 1000 emp.)
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Verified Current User
Review source: G2 invite on behalf of seller
Incentivized Review
What do you like best about Fairmarkit?

Simple and quick implementation.

Always looking for new improvements.

Costumer Service (great)

RFP module Review collected by and hosted on G2.com.

What do you dislike about Fairmarkit?

Price

Limits on the product lines to bid.

Hard integration with SAP. Review collected by and hosted on G2.com.

What problems is Fairmarkit solving and how is that benefiting you?

We can run more bids now, we have better analytics, we are getting lots of savings. Our procurement team found an easy tool to run bids but at the same time we can run more complex events using RFPs and Reverse Auctions. Review collected by and hosted on G2.com.

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Verified User in Logistics and Supply Chain
UL
Small-Business(50 or fewer emp.)
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Verified Current User
Review source: G2 invite on behalf of seller
Incentivized Review
What do you like best about Fairmarkit?

The best feature that I consider adds a lot of value is to have the availability to invite vendors that are not invited in the coupa system. Review collected by and hosted on G2.com.

What do you dislike about Fairmarkit?

Its very interesting for items, but I believe Fairmarkit can have a better overall system whenever we want to purchase services. Review collected by and hosted on G2.com.

What problems is Fairmarkit solving and how is that benefiting you?

The problem that was solved with fairmarkit is to have an standarized RFP process by sending the RFP requests and documenting all the information sent by the vendors, this was very useful because the vendors we were requesting info, were not enrolled on coupa, so all of the information would have been sent and received via email. Review collected by and hosted on G2.com.

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Verified User in Aviation & Aerospace
UA
Enterprise(> 1000 emp.)
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Verified Current User
Review source: G2 invite on behalf of seller
Incentivized Review
What do you like best about Fairmarkit?

*Sending RFQs are so faster compared to regular mailing of RFQs.

*Touch points are very less and integration with Ariba is quite good.

*Customer support is very good, in an instance the issues will get sorted out. Review collected by and hosted on G2.com.

What do you dislike about Fairmarkit?

Supplier participation is less.

Few integration issues are present. Review collected by and hosted on G2.com.

What problems is Fairmarkit solving and how is that benefiting you?

The main issue in manually sending RFQs in mail is tracking. The Fairmarkit is taking care of it very well.

The dashboard looks simple and easy to understand compared to other e-sourcing platforms.

Reaching out to suppliers everytime by mail was very inconvenient before, The messaging dashboard of Fairmarkit save a lot of time. Review collected by and hosted on G2.com.

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Verified User in Utilities
EU
Enterprise(> 1000 emp.)
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Verified Current User
Review source: G2 invite on behalf of seller
Incentivized Review
What do you like best about Fairmarkit?

Fairmarkit allows us to easily source our non-contracted tail spend items. The system is tightly integrated into our Procure to Pay system and requires ZERO re-entry of data!

Fairmarkit's customer support is the BEST I've EVER experienced! It is stellar!

We achieved our ROI within 6 weeks and save $$ Millions by sourced our previously ignored tail spend! Review collected by and hosted on G2.com.

What do you dislike about Fairmarkit?

There are NO downsides to using Fairmarkit! Review collected by and hosted on G2.com.

What problems is Fairmarkit solving and how is that benefiting you?

Fairmarkit has solved our ability to easily and quickly get quotes on products and services that we previously would have to source manually. It has automated a very manual and laborious process. Review collected by and hosted on G2.com.

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URVIK G.
UG
RME COORDINATOR
Enterprise(> 1000 emp.)
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Validated Reviewer
Verified Current User
Review source: G2 invite on behalf of seller
Incentivized Review
What do you like best about Fairmarkit?

It is vary simple and easy to adopt in daily use Review collected by and hosted on G2.com.

What do you dislike about Fairmarkit?

From my side nothing is dislike about it. Review collected by and hosted on G2.com.

What problems is Fairmarkit solving and how is that benefiting you?

It provide the automatic vendor suggetion for the all line items. It save lot of time and we get good quality with less amount. Review collected by and hosted on G2.com.

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PA
Global Category Manager
Enterprise(> 1000 emp.)
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Verified Current User
Review source: G2 invite on behalf of seller
Incentivized Review
What do you like best about Fairmarkit?

Simple to use, friendly interface, intuitive and flexible. Review collected by and hosted on G2.com.

What do you dislike about Fairmarkit?

Lack of rounds of negotiation in RFQ events Review collected by and hosted on G2.com.

What problems is Fairmarkit solving and how is that benefiting you?

Helping to keep history and audit traceability Review collected by and hosted on G2.com.

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Hussain B.
HB
Multi site WHS officer
Enterprise(> 1000 emp.)
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Verified Current User
Review source: G2 invite on behalf of seller
Incentivized Review
What do you like best about Fairmarkit?

Fairmarkit good platform for vendor side received easy Qutation Review collected by and hosted on G2.com.

What do you dislike about Fairmarkit?

Some times showing Login Error it will be take time in portal Review collected by and hosted on G2.com.

What problems is Fairmarkit solving and how is that benefiting you?

Nil Review collected by and hosted on G2.com.

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