Procurement executives are passionate, value-conscious partners to the business. Leading in procurement means helping the organization make money, save money and eliminate operational risk. Fairmarkit was developed in collaboration with procurement leaders to ensure our customers can increase the speed of requisitions, decrease staff needed, reduce purchases prices and provide the necessary visibility and control to eliminate procurement risk.
If your procurement department is not producing innovative projects or results, it could be because they are stretched too thin. On average, 20% of a company’s budget is spent on small, infrequent purchases, otherwise known as tail spend. Fairmarkit’s automated tail spend management software helps procurement bring all spend under management, so your department can spend more time producing results for the organization.
Procurement shouldn’t just strive for cost savings. They should also develop innovative strategies for supply chain management. But a procurement team without a tail spend management strategy likely doesn’t have the resources for higher-level innovation. Fairmarkit brings all spend under management, and decreases a buyer’s time-per-purchase by as much as 40%. With all of that extra time, your buyers could be bringing more value to the business.
Fairmarkit’s SaaS platform is optimized for tail spend, allowing management to bring all spend under management. It simplifies the procurement process to give buyers control of their strategic sourcing. Fairmarkit’s machine learning increases spend visibility and process automation, yielding greater operational efficiency and driving savings of 7-12%.