Fairmarkit's Amazon Business integration harnesses the power of Amazon for enterprise; helps buyers find competitive prices for products at enterprise-scale
BOSTON, Aug. 24, 2023 /PRNewswire-PRWeb/ -- Fairmarkit, the autonomous sourcing solution transforming the procurement of goods and services for enterprises, today announces a collaboration with Amazon Business that enables customers to automatically and directly request quotations from the Amazon Business selection for goods of all categories. This collaboration is helpful for both buyers and sellers. For enterprise buyers, it unlocks unprecedented access to Amazon Business and its vast global supply base, creating an easy way to fill supply chain continuity gaps, discover suppliers aligned with ESG and diversity goals, and meet urgent needs that cannot be covered by the existing supplier base. For that vast network of suppliers, it opens sales opportunities at unprecedented scale.
Amazon Business' collaboration with Fairmarkit gives enterprise buyers a streamlined vehicle to engage with the full range of Amazon Business offers, with the level of automation and other benefits they expect from Fairmarkit sourcing, including reduced cycle time, greater visibility into spends, higher savings, and improved compliance and diversity maintenance. With Integrated Quoting, power bulk buyers of our mutual business customers will add Amazon Business as a supplier to send Request for Quotes (RFQs). Once completed, the RFQ is transmitted via API to Amazon Business, processed in their internal, automated systems, and a unique and individualized quote offer is returned in the required time to the customers.
"Our mission is to enable organizations to purchase the goods and services they need in the most efficient and fair way possible, and this collaboration does exactly that at scale," said Kevin Frechette, CEO of Fairmarkit. "Amazon Business' global footprint along with providing access to hundreds of millions of products worldwide, makes this a powerful alliance. We're appreciative of Amazon Business' ongoing support, leadership and knowledge and look forward to what's to come."
This collaboration expands the addressable market segment by putting Amazon Business in front of the world's largest buyers, while also providing them access to Fairmarkit's supplier portal for added advantages, including streamlined communication, increased visibility into the procurement process, access to real-time data and analytics, and more. With this integration, procurement teams get access to the best offers quickly and in one place, enabling faster reactions to urgent or changing requirements.
Fairmarkit's integration capabilities automate manual source-to-award workflows by connecting ERP and P2P systems, and enable customers to source from over 500,000 suppliers. In addition, it aims to increase competition and drive savings on RFQ events on goods for customers, while rationalizing the supply base and reducing supply chain risk.
Fairmarkit was named to the 2022 Inc. 5000 fastest-growing private companies list, ranking #159 overall and #5 in Massachusetts, and currently serves enterprises such as BP, BT, Emirates, Snowflake, ServiceNow, and Boeing. Fairmarkit was recognized by Forbes as one of America's Best Startup Employers 2023, and customers continue to experience 11.5% cost savings on purchases and a 60%+ reduction in manual procurement efforts.
About Fairmarkit
Fairmarkit is the intelligent sourcing platform that empowers organizations to more efficiently purchase the goods and services they need. By equipping procurement and supply-chain teams with automation and data, Fairmarkit promotes competitive bidding while reducing manual work within existing processes. Leveraged across a number of industries by innovative procurement departments, such as BP, Snowflake, Cabot Corporation, and Refinitiv, Fairmarkit aims to revolutionize the way organizations make purchases. Learn more at http://www.fairmarkit.com
Media Contact:
Tisha Ferraro for Fairmarkit
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SOURCE FairMarkit
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