Fairmarkit

Happy #FairmarkitFriday! This week, we’d like to recognize another unsung hero who embodies our core value of ‘we before me’ day-in and day-out earning himself well overdue Eagle of the Week honors, Russell Roth-Peltz! Congratulations Russell!

Fairmarkit was featured in Forbes for our partnerships with Boston University, SAP Ariba, and Amazon Business! ??? “Another innovation was implementing Fairmarkit, a Boston-based startup, to better manage the University’s “tail spend.” … In early 2018, BU signed on as Fairmarkit’s second customer, to implement their Request for Quotation (RFQ), or “Quick Quote” tool.” “[Randall Moore, Chief Procurement Officer at Boston University,] said, “we made the license available to all shoppers at BU to solicit quotes from qualified suppliers, usually with a turnaround of 48 hours.” The tool was quickly embraced by power users buying for facility operations, classroom A/V, commercial printing, student charter bus transportation, and promotional products. For complex, strategic purchases, the BU sourcing team is now actively using Fairmarkit’s latest innovation, an intuitive Request for Proposal (RFP) tool that is built around generative AI capabilities.” ?— Steve Banker, Vice President of Supply Chain Services at ARC Advisory Group and Contributor at Forbes. Learn more about Fairmarkit's role in Boston University’s Procure-To-Pay Transformation in this recent article from Forbes: https://lnkd.in/ekDd3kED

Register now for our upcoming webinar, “Beyond Cost Savings,” on Wednesday, November 20th at 12:00pm ET! In this webinar, Fairmarkit CFO, Celeste Ackert, and Fairmarkit Senior Engagement Manager, Manuel Melo, MBA, will be joined by Steve Reavis, Procurement Transformation Leader and Natasha Gurevich, Founder and CEO at Candor Procurement, as they explore how leading procurement teams are measuring and communicating beyond cost savings benefits to their stakeholders. Discover new strategies for showcasing procurement’s comprehensive value, and learn how to align your reporting and metrics with strategic business goals. Save your seat now: https://lnkd.in/eFjNU8PT

We couldn’t be more excited to welcome two new A+ players to the #FairmarkitFam this week with the additions of: Benjamin Brown, VP of Marketing Yaugeniy Shalkevich, Senior Platform Product Manager We’re thrilled to have you on the team Ben and Yaugeniy! ??

We don’t remember Ted Lasso being this passionate about sourcing in the show… ?? Watch Ted Lasso, aka Kevin Frechette, explain how Fairmarkit views the future of sourcing in this short clip from our “Incremental Progress in Procurement Using AI and GenAI” webinar last week. Want to see Victor Kushch as Wolverine? Access your free copy of the full webinar here: https://lnkd.in/efU8pK3S

Curious about AI resistance in procurement? Here are the top 5 reasons: 1?? Fear of the Unknown: Resistance to New Technology 2?? Lack of Understanding and Education: The Role of AI in Procurement 3?? Ethical Decision-Making and Privacy: Procurement AI Concerns 4?? Lack of Trust: AI Job Security Fears and the “Black Box” Problem 5?? Organizational and Cultural Barriers: Leadership Challenges in AI Adoption Learn 5 strategies to overcome AI resistance in our latest blog post: https://lnkd.in/ectpd_Vi

We’re thrilled to share that Fairmarkit has been named the Autonomous Sourcing Solution of the Year by CIOReview! “This award is in recognition of Fairmarkit’s stellar reputation and trust among customers and industry peers, evident in the numerous nominations we received from our subscribers. Fairmarkit emerged as a Autonomous Sourcing Solutions of the Year 2024 after an exhaustive evaluation by an expert panel of C-level executives, industry thought leaders, and our editorial board” — CIOReview. Learn more: https://lnkd.in/e2pY2wdn

We’re super excited to share that Fairmarkit has once again been included on the ProcureTech100 list for 2024! This recognition is based on our innovation and the real-world impact created for global digital procurement teams. Selected through a rigorous, analytical process including review by over 80 global corporate procurement leaders, digital experts, and B2B investors, the 2024 ProcureTech100 represent the pioneers that are propelling digital procurement forward. Procurement challenges are complex, and require continual digital innovation and evolution to rise to changing customer, economic, and operational demands. We are proud to be recognized as a leader in this digital procurement. Learn more: https://lnkd.in/eQRuh2Jy

Happy #FairmarkitFriday to the #FairmarkitFam and beyond! This week, we’re celebrating David Santiago for all of his hard work behind the scenes on our incredible partnership with SAP, including his work at SAP Spend Connect Live last week, earning him much deserved Eagle of the Week honors! Congratulations David!

Erin McFarlane, VP of Operations, was featured in Supply & Demand Chain Executive for her article “How GenAI is Powering Competitive Sourcing Events for Retail Procurement Teams”! In the article, Erin explains how GenAI can be used by retail procurement teams to democratize sourcing, enable supplier diversity, and decrease risk. Learn more: https://lnkd.in/emB_A3bd