Fairmarkit Recognized in Gartner’s Most Recent Market Guide for Sourcing Applications

Fairmarkit Recognized in Gartner’s Most Recent Market Guide for Sourcing Applications

We’re excited to share that Fairmarkit has been recognized in Gartner’s latest Market Guide for Sourcing Applications. This acknowledgment highlights our leading innovation in sourcing technology and driving continuous value for the world’s top procurement teams through autonomous sourcing.

Gartner’s Market Guide highlights the diversity of solutions available in the sourcing market—ranging from standard sourcing tools to sourcing optimization and autonomous sourcing solutions. The guide describes sourcing applications as critical tools for modern procurement organizations, helping teams streamline RFx events, enhance supplier communications, and make data-driven decisions. It also emphasizes the growing influence of AI and automation, which are reshaping the procurement landscape by improving efficiency and responsiveness to market changes.

The Impact of Autonomous Sourcing

Autonomous sourcing is taking the procurement world by storm, with a path to transform the procurement operating model completely. We’re utilizing the most advanced AI technology to lead the autonomous sourcing movement. From demand to award, our platform leverages AI to automate key sourcing tasks such as event creation, supplier discovery, bid evaluation, and awarding. This empowers procurement teams to manage high-volume, repetitive purchases with greater speed, accuracy, and efficiency. Not to mention seamless integration with existing procure-to-pay (P2P) systems, enabling quick adoption and effective change management.

At the core is our award-winning AI, created in-house based on years of continued interaction with top procurement teams from some of the world’s largest companies:

• GenAI for Intake: Fairmarkit’s KIT guides requesters through creating detailed, structured requests. By transforming vague language into procurement-ready inputs, teams cut down on time spent on research and back-and-forth communications.
• Automated RFx Generation: Seamlessly convert almost any purchase requisition into a structured RFx (RFP, RFQ, RFI), ensuring a streamlined and accurate process.
• Tailored Supplier Recommendations: Leveraging historical data and patterns, teams receive AI-tailored supplier recommendations to unlock better speed, quality, and price—often from a company’s existing supplier base, which enhances ESG and compliance initiatives.

Innovation and the Future of Sourcing

Autonomous sourcing solutions are becoming an essential part of procurement strategies, as they help teams expand supplier diversity, reduce sourcing cycle times, and respond more effectively to dynamic market conditions. At Fairmarkit, we’re dedicated to helping our customers stay ahead of the curve by providing AI-sourcing technology that is collaborative, user-friendly, and adaptable to their unique needs.

Discover why companies like bp, Alcoa, and Sonoco trust Fairmarkit to take their sourcing to the next level.

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