Fairmarkit was founded on the premise that there should be more transparency in the business-to-business (B2B) procurement ecosystem. For our customers, Fairmarkit improves internal organizational transparency, supplier transparency and pricing transparency. Increased transparency leads to increased procurement efficiency, enabling collaboration across centralized and decentralized models, as well as better collaboration with disconnected business units.
Transparent pricing is essential to strategic sourcing. In order to negotiate the best prices, procurement must know how different suppliers are pricing their orders. The high volume of items in the tail can make it difficult to competitively source every purchase. Fairmarkit makes obtaining quotes effortless. The platform creates unprecedented transparency into tail spend by organizing data on request for quote (RFQ)/request for service (RFS) pricing and SKU pricing. With more transparency and better options, procurement can consistently deliver the best supply chain solutions.
Research has shown that transparent pricing facilitates collaboration and creates better procurement outcomes. With transparent pricing, buyers are more likely to select the suppliers with the most competitive pricing for the company. They’re less likely to resort to maverick spending and more likely to work together to generate competitive pricing. Fairmarkit makes it easy to see how your buyers are performing, and gives your employees tools to find the best options.
Fairmarkit’s automated platform helps procurement keep track of purchases, monitor tail spend in real time, and eliminate any unnecessary costs. Available on all internet-connected devices, our platform also provides complete insight into your procurement department’s expenses, allowing you to avoid overspending.