Automatically get quotes for purchase requests from your existing suppliers.
Fairmarkit interrupts your existing purchase request (PR) approval process and automatically collects competitive quotes from your existing SAP Ariba supply base and a broader marketplace. Fairmarkit then approves and updates the PR with the new price and supplier.
Overview
Gain Visibility
Structured data and analytics give you the holistic view you need. Fairmarkit provides insight into spend, that has otherwise been a "black box." Fairmarkit captures data about requests, quotes, pricing, vendor response and buyer behavior, using our advanced machine learning engine.
Empower your end users
Buyers have automation and data on their side to reduce manual effort. Fairmarkit's simple and streamlined process makes sourcing easier by automatically identifying compliant suppliers and collecting competitive quotes. With better data, users make better decisions.
Reduce Costs
Fairmarkit customers realize cost savings of over 10% through competitive bidding on all PRs sourced through the platform. Most customers pay for their subscription in less than a month, and many customers achieve multi-million dollar savings goals using Fairmarkit.
Details
Solution type
Extensions and Add-ons
Industry
Cross-Industry, Automotive, Oil, Gas, and Energy, Chemicals
Compatibility
Works with
SAP Ariba Buying
Features
Seamlessly integrate with Ariba
Fairmarkit uses SAP Ariba's existing APIs and integrations to seamlessly share and transmit data for a touch less experience. Fairmarkit can be implemented in weeks, not months.
Recommend Suppliers
Fairmarkit’s intelligent supplier recommendations find the best suppliers for your purchases, using both your historic data and ours. Enable end users to source from the right people to meet compliance requirements and receive more bids across categories.
Review analytics with out-of-the-box actionable dashboards
Out-of-the-box reporting and actionable dashboards unlock negotiating power and to highlight areas of opportunity. Your Fairmarkit spend data is broken down by category to show buyer, vendor, and team performance.
Plans and pricing
All plans include:
2024 Pricing
RFQ autonomous sourcing available
Multiple P2P/ERP integrations
Analytics
Supplier diversity and sustainability options available
Pricing is based on spend sourced
Includes 1 Per client Price upon requestRFQ autonomous sourcing available
Multiple P2P/ERP integrations
Analytics
Supplier diversity and sustainability options available
Pricing is based on spend sourced
Includes 1 Per client Custom Pricing based on your requirements
Full access to Fairmarkit based on scope
Includes 1 Per client Price upon requestFull access to Fairmarkit based on scope
Includes 1 Per client
Customer reviews
Technical Information
| Solution type | Extensions and Add-ons |
| Category | Sourcing and Contracts |
| Industry | Cross-Industry, Automotive, Oil, Gas, and Energy, Chemicals |
| Works with |
SAP Ariba Buying |
The following information is provided by the publisher and applies to the latest app version available on the SAP Store. SAP does not control these policies and procedures; the publisher is solely responsible for the accuracy of the provided information.
| Deployment |
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| Globalization |
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| Operations |
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The following information is provided by the publisher and applies to the latest app version available on the SAP Store. SAP does not control these policies and procedures; the publisher is solely responsible for the accuracy of the provided information.
| Security |
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| Compliance |
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| Privacy policy |
SAP's privacy policy is not applicable to the use of this app. Please refer to the privacy policy provided by this app's partner. |
Resources
Case Studies
bp Case Study
Publisher
Fairmarkit, Inc.
Fairmarkit is the intelligent sourcing platform that empowers organizations to more efficiently purchase the goods and services they need. Fairmarkit promotes competitive bidding while reducing manual work within existing processes.
