Fairmarkit 2026: Benefits, Features & Pricing

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On this page

Overview
Pricing and Plans
Features
Integrations
User Reviews

Overview

Fairmarkit

4.8

(8)

Pricing

Pricing available upon request

About Fairmarkit

Fairmarkit is an autonomous sourcing platform that transforms non-strategic spend so organizations can source more competitively at scale. It integrates with ERP and P2P systems to automate manual source-to-award workflows so procurement teams can manage 10x more events and reduce cycle times by 40% without adding resources.

Fairmarkit’s AI-powered supplier recommendations find the best-fit suppliers for every event by leveraging an organization’s procurement data, as well as the thousands of buyer & supplier interactions on the Fairmarkit marketplace everyday. The resulting competitive bidding assists buyers to uncover over 11% cost-savings across categories without compromising on compliance and ESG requirements.

Fairmarkit Screenshots

Fairmarkit Pricing and Plans

Starting price: Connect with an advisor for pricing

Free Trial

Free Version

Basic

Pricing available upon request

No plan information available

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Fairmarkit Features

Popular features found in Expense Report
Accounting Integration
Audit Trail
Automated Receipt Matching
Compliance Management
Corporate Card
Expense Claims
Mobile Receipt Upload
Multi-Currency
Reimbursement Management
Spend Control
More features of Fairmarkit
Access Controls/Permissions
Activity Dashboard
Activity Tracking
Ad hoc Reporting
Alerts/Notifications
API
Auction Management
Audit Management
Bid Management
Budget Control
Budget Management
Catalog Management
Categorization/Grouping
Collaboration Tools
Configurable Workflow
Contract/License Management
Customizable Reports
Customizable Templates
Data Import/Export
Data Visualization
Document Management
Document Storage
ERP integration
Generative AI
Global Sourcing Management
Onboarding
Order Management
Order Tracking
Performance Metrics
Procurement Management
Project Management
Purchasing & Receiving
Quotes/Estimates
Real-Time Analytics
Real-Time Data
Real-Time Monitoring
Real-Time Notifications
Real-Time Reporting
Real-Time Updates
Reminders
Reporting & Statistics
Requisition Management
RFP Creation
Rfx Management
Risk Assessment
Rules-Based Workflow
Search/Filter
Self Service Portal
Sourcing Management
Spend Analysis
Spend Management
Supplier Management
Supplier Qualification
Supplier Risk Management
Supplier Web Portal
Supply Chain Management
Template Management
Third-Party Integrations
Transaction History
User Management
Vendor Management
Vendor Master Data Management

Fairmarkit Integrations

SAP S/4HANA Cloud

SAP Ariba

Oracle PeopleSoft

Coupa

Workday Financial Management

ServiceNow

Fairmarkit User Reviews

Overall Rating

4.8

Ratings Breakdown

75%

25%

Secondary Ratings

Ease of Use

4.8

Value for money

4.9

Customer support

4.8

Functionality

4.8

Helene V.

Verified reviewer

Public Relations and Communications

501-1000 employees

Used weekly for less than 12 months

Review source

Reviewed June 2022

Fairmarkit is the solution to the company's purchasing and procurement

This software is very useful to be able to have at hand the requests, quotes and budgets from different suppliers, and to make price comparisons easily and quickly, to make purchases and supply of everything we need for the manufacture of our products.

Ratings Breakdown

Ease of use

Value for money

Customer support

Functionality

Pros:

It has the management of suppliers and request for quotations, where we can review in detail, all suppliers, their prices and offers, so compare prices and choose the most appropriate for our company. With the supplier qualification tool, we can find the purchase history, their previous prices, description and quality of their products and much more information necessary to know the supplier. With the integration of accounting and payment software, it allows to keep track of payments made to suppliers and thanks to the tracking of dates, invoices are never overdue.

Cons:

The software is quite complete and fulfills all the functions we need as a department, we only need to focus on it, to know it deeply, as it has many modules and tools. The reports are very simple, we need more complete reports, that show in detail why we should lean towards a supplier, beyond the price. The bid management also lacks important functions, which should be taken into account, beyond the price of the product, since we base our purchase on quality/durability/price, not only price.

Marcos R.

Verified reviewer

Mining & Metals

10000+ employees

Used daily for less than 6 months

Reviewed May 2023

Alcoa Procurement Project Manager review

My overhaul experience is great. I like the tool, I believe on the concept and I strongly believe it is easier then make RFQs via email or the other solution we have (SAP Ariba).The support from Fairmarkit is also something I appreciate as a client, we feel our concerns and request are carefully evaluated and I feel in the team a genuine design to keep evolving the solution.

Ratings Breakdown

Ease of use

Value for money

Customer support

Functionality

Pros:

- Easy access for supplier (specially the fact it is not mandatory to maintain a password- Tool is extremely intuitive for buyers (no need for too much training)- Information regarding the RFQ is displayed on an easy way to understand and take decision

Cons:

- Chat functionality is not great. I don't like mainly because it is difficult to check by event if there is open/unread messages.- Column from the Analytics piece are not editable (e.g.: On Requisition details I can not include two new columns showing Savings and Cost avoidance separated). - I few there is still space to improve supplier recommendations, it is not unusual to receive complains from buyers and suppliers that the recommendation was not good.

Reasons for choosing Fairmarkit

User friendly to Buyers and Suppliers + promiss of powerful recommendations.

Reasons for switching to Fairmarkit

SAP Ariba was not user friendly to buyers neither to suppliers. It happened very frequently that the suppliers didn't manage to access the events. Buyers (even the experienced ones with the tool) always faced to many challenges to know to do things.

Liju S.

Verified reviewer

Retail

10000+ employees

Used weekly for less than 2 years

Reviewed May 2023

Need to be more user friendly

Good

Ratings Breakdown

Ease of use

Value for money

Customer support

Functionality

Pros:

As the name suggested, it's fair and we are able to find the right bidder.

Cons:

The unit of measurement option is very less

Gaston A.

Verified reviewer

Mining & Metals

1001-5000 employees

Used daily for more than 2 years

Reviewed May 2023

Increased Functionalities

Fairmarkit has shown its value since day one. We have developed a solid collaborative relationship that has helped our team to improve and use the tool at its full capacity.

Ratings Breakdown

Ease of use

Value for money

Customer support

Functionality

Pros:

The consistent growth of the platform is of great value to us customers. The customer-focused approach Fairmarkit uses to develop the new tools and functionalities resonates with our specific needs, and made every improvement valuable in our day to day operations.

Cons:

I can't think of anything that is my least favorite.

Reasons for choosing Fairmarkit

The easy-to-use and AI-powered functionalities were what we were looking for.

Jim H.

Verified reviewer

Utilities

1001-5000 employees

Used daily for less than 2 years

Reviewed May 2023

I now have control of my Tail Spend using Fairmarkit!

Fairmarkit is undeniably one of the best procurement products on the market. The Fairmarkit team is excellent. I have not dealt with a single individual that I would rate as "average". Every member of the team from line staff to executive management have been excellent to work with. They ALWAYS have a can do attitude and a desire to make things happen for the customer (me)!

Ratings Breakdown

Ease of use

Value for money

Customer support

Functionality

Pros:

Fairmarkit has given me the ability, with a simple to use tool, to get accurate pricing and lead times on products that would have not been "sourced/quoted" in the past without very manual processing. Fairmarkit is tightly integrated into our Procure 2 Pay system allowing us to source/quote products and services extremely quickly and efficiently without the need to manually enter any of the information. This has created a marketplace where we continue to find savings in a volatile supply market with inflation. Additionally, we now can make good sourcing decisions based on lead times as well as prices.We are now working with Fairmarkit to make this process more autonomous! Who would have thought we could do that for low dollar tail spend products/services.

Cons:

Nothing. It is a GREAT product. Truly, I have no CONS with our implementation of Fairmarkit.

Reasons for choosing Fairmarkit

The Fairmarkit software is streamlined, easy to use and integrated seamlessly with our Procure 2 Pay system. And we have guaranteed savings built into the contract!

Isabela B.

Verified reviewer

Mining & Metals

5001-10000 employees

Used daily for less than 6 months

Reviewed May 2023

Fairmarkit Review

The tool is helping me daily with my purchase requisitions.

Ratings Breakdown

Ease of use

Value for money

Customer support

Functionality

Pros:

Everything, the tool is easy to use, very practical and we're having a good feedback from the suppliers.

Cons:

When the suppliers don't submit the formal proposal.

Verified

Reviewer

Hospital & Health Care

5001-10000 employees

Used weekly for less than 12 months

Review source

Reviewed September 2018

Creating tail spend leverage by using FairMarkIT

We have piloted the product and now in the process of executing on a full engagement.

Ratings Breakdown

Ease of use

Value for money

Customer support

Functionality

Pros:

The power of FairMarkIT allows you to address tail spend to identify leverage points for greater economies as well ferret out potential risks, be it cyber security, fraud, abuse, etc.

Cons:

Nothing to report here as the product has met our expectations with future enhancements in flight.

Rahul V.

Verified reviewer

Information Technology and Services

10000+ employees

Used other for less than 6 months

Review source

Reviewed June 2020

Great tool for tail spend

Team that is responsive and on top of things.

Ratings Breakdown

Ease of use

Value for money

Customer support

Functionality

Pros:

A tool that will help your company be hands off in saving money in an automated fashion. This software can search for best prices that exists in various catalogs out there and sorta be like the catalog aggregator. The value prop is that its hands off savings generation.

Cons:

That we already had an eRFP tool deployed. Else, could have deployed the entire suite.

Showing 1 - 8 of 8 Reviews

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