#fairmarkit

The more things change, the more they stay the same!

August 2003 Case Reference By August 2003, a full production program was introduced and successfully tested. (In the test case, a major public sector organization realized a 23% cost of goods savings annually over a period of several years while simultaneously reducing the number of buyers required to manage the contract to 3 from an original 23. Delivery performance and product quality also…

Fairmarkit’s AI-fueled platform delivers autonomous procurement sourcing

Companies tend to divide their procurement spending into two main buckets. The first is large purchases over $500,000 with some starting at $1 million, depending on the size of the organization. Anything below that figure falls under a category known as “tail spend.” Boston-based startup Fairmarkit has been working on a tail spend procurement solution for several years now, and has built a modern…

Kyle Wiggers / VentureBeat: Fairmarkit, a platform that automates enterprise procurement of goods like office or cleaning supplies and services, raises $11M Series A  —  Tail spend — the purchases enterprises make outside their large, ongoing expenses — is a tricky business.  While direct spend is usually well managed …