How It Works

Procurement processes for tail spend management are outdated and have not entered the digital age. The process for requesting bids on small to medium sized purchases is still largely manual. FairMarkIT’s innovative technology fills the massive gap between your team’s formal RFP process and the one-off catalog purchases of a single computer mouse.

Can your current tools think for you?

Automated RFQs

Remember when you had to manually reach out to multiple vendors, collect bids, and then award the contract to the lowest bidder? Reflect on how long and arduous that process was. You’d have to pick up the phone, fire out emails, keep track of your bids in a file cabinet, and then spend hours finding last year’s bids to make sure you’re still getting a good deal.

Imagine how much easier this process would be if you automated it.  FairMarkIT’s platform automatically collects, stores, and organizes bids for each purchase in a centralized location. On top of that, we’ll help you identify your riskiest purchases.

The old days are over. Seriously.

AUTOMATE VENDOR RECOMMENDATIONS.

Feel like you only know only 1 or 2 vendors for each type of purchase and don’t have time to research more?  

FairMarkIT intelligently matches the items you’re purchasing with your internal database of vendors, and against our pool of 3.5 million suppliers to ensure competitive forces are driving prices down.

New Vendors?

Wanting to expand your business to a new area of the country? How about expanding your supply chain internationally? Or increasing the DBE’s (Disadvantage Business Enterprise) that you work with?

FairMarkIT has done the leg work of assembling 3.5M+ vendors who have sold to other enterprises like you. All are certified via other customers, The Better Business Bureau, Duns & Bradstreet, etc.

We’ve done the leg work for your team.

Regressions. Trends. Clustering.

How efficient has your procurement team been this year? Are you trending in the right direction? How much wasted time is spent by each of your buyers? Access to this data is usually a difficult endeavor, since most procurement processes are still manual.

FairMarkIT’s algorithm uses regression analysis, clustering, and other big data tools to unlock the hidden trends needed to optimize your team’s time.

Leverage the power of automation to help your procurement department.