Company: Fairmarkit, Inc., Boston, MA
Company Description: Fairmarkit leverages innovative, patent-pending technology to autonomously source purchases. Founded in 2017 we serve Fortune 25 to mid-market companies. Our platform scales our customer's capabilities by delivering a 40 to 60% efficiency gain while identifying on avg. 11% savings. We are helping our customers mitigate inflationary pressures, supply chain disruption and improve CSR results.
Nomination Category: Product & Service Categories - Business Technology Solutions
Nomination Sub Category: Electronic Commerce Solution
 Nomination Title: Autonomous Sourcing: Scaling the Supply Chain during disruptive times
- Which will you submit for your nomination in this category, a video of up to five (5) minutes in length about the the nominated new or new-version product or service, OR written answers to the questions for this category? (Choose one):
A video of up to five (5) minutes
- If you are submitting a video of up to five (5) minutes in length, provide the URL of the nominated video here, OR attach it to your entry via the "Add Attachments, Videos, or Links to This Entry" link above, through which you may also upload a copy of your video.
Customer Testimonial: Emirates Flight Cateriing (EKFC) https://www.linkedin.com/posts/fairmarkit_fairmarkit-ekfc-case-study-video-activity-6940663176631922688-zWqU?utm_source=linkedin_share&
- If you are providing written answers for your submission, you must provide an answer to this first question: If this is a brand-new product, state the date on which it was released. If this is a new version of an existing product, state the date on which the update was released:
- If you are providing written answers for your submission, you must provide an answer to this second question: Describe the features, functions, and benefits of the nominated product or service (up to 350 words):
- Awards:
- Gartner 2020 Cool Vendor Award
- Fast Company 2021 Most Innovative Companies
- 2021 CODiE Finalist
- Supply Chain Now 2022 Finalist
- Fairmarkit is the intelligent sourcing platform that enables organizations to purchase goods and services more efficiently.
- We leverage innovative, patent-pending advanced technology for the likes of Accenture, Amazon, AT&T, bp, British Telecom, Nestle, PPG, ServiceNow, Snowflake, and Walgreens.
- Our platform scales our customer procurement capabilities. For example, in the case of Emirates, we delivered an 85% efficiency improvement enabling them to free up resources to become trusted advisors to the business.
- By competing purchases on our platform we save our customers on average 11% on the spend sourced on our platform. In the example of Emirates, we achieved 15% savings, eclipsing our savings average across all customers.
- By competing purchases, we introduce diverse and sustainable suppliers to the opportunity resulting in more incredible CSR results.
- If you are providing written answers for your submission, you must provide an answer to this third question: Outline the market performance, critical reception, and customer satisfaction with the product or service to date. State monetary or unit sales figures to date, if possible, and how they compare to expectations or past performance. Provide links to laudatory product or service reviews. Include some customer testimonials, if applicable (up to 350 words)
- You have the option to answer this final question: Reference any attachments of supporting materials throughout this nomination and how they provide evidence of the claims you have made in this nomination (up to 250 words):
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