Fairmarkit is an AI and machine learning-driven sourcing platform, based in the United States, that automates the request-for-quote process for indirect goods and services, identifying supplier options and surfacing cost-saving opportunities.
Tail Spend Offering
Targets the high-volume, low-value indirect sourcing activity that consumes disproportionate procurement time relative to its strategic value, automating supplier selection and bid analysis to bring efficiency and compliance to that spend.
FOUNDED
2017
HEADQUARTERS
Boston, Massachusetts, USA (+ Lviv, Ukraine)
COMPANY TYPE
Private
GEOGRAPHIC COVERAGE
United States, with a European engineering presence in Lviv, Ukraine
Fairmarkit is an AI and machine learning-driven sourcing platform, founded in 2017 and headquartered in Boston, Massachusetts, with an additional engineering presence in Lviv, Ukraine.
How does Fairmarkit help with tail spend management?
Fairmarkit automates the request-for-quote process for indirect goods and services, targeting the high-volume, low-value sourcing activity that consumes disproportionate procurement time relative to its strategic value. An early press release describes it directly as a ‘tail spend management company.’
