Fairmarkit Case Studies14 Customer Stories & Results

Challenge

Lean procurement team (<10 members) managing high-volume sourcing needs for extensive distribution network. Manual sourcing constrained tail spend and tactical sourcing capacity. Inadequate supplier engagement resulting in delayed responses. No system for business user autonomy in procurement.

Results

13% increase in identified savings; 6.4% increase in awarded savings; 50%+ improvement in supplier response rates; 46% event conversion rate; £10.31M managed spend through 133 events in 12 months; £4M+ estimated RFP value across 30+ RFP events

Challenge

Small but efficient procurement team (~2,000 employees company-wide) managing thousands of monthly purchase orders. Long cycle times (66 days average). Limited visibility into buyer performance and compliance. Audit and compliance risks from unstructured workflows.

Results

82% reduction in cycle times (66 days to 12 days); $30M awarded savings by year 3; 27% identified savings rate; ~4,000 events sourced in 2024; built-in audit readiness; unique community-driven sourcing (stray animal capture and adoption)

Challenge

Large tail spend of $10M across nearly 2,500 suppliers. Small procurement team unable to manage thousands of suppliers efficiently. Needed to optimize tail spend without increasing headcount. Required solution beyond vendor consolidation.

Results

15%+ average savings on spend through platform; $1,500+ average savings per RFQ; $48K average savings per buyer per year; nearly $150K saved on 100 sourcing events; positive shift in procurement team mindset; 3.7x ROI achieved

Challenge

Global spend exceeding $50B with hundreds of independent business units. Fragmented execution with inconsistent processes. Limited visibility into sourcing outcomes and savings. Tool sprawl with different teams using different tools. Maturity gaps in RFP capability across organization.

Results

Double-digit record savings across RFPs and RFQs; >500 proposals submitted across RFPs; nearly 200% increase in supplier responses YoY; NPS ~50 (significantly above industry average); 700+ users across hundreds of business units; centralized reporting via PowerBI dashboards

Challenge

High volume of daily sourcing events exceeding team capacity. Manual quoting processes difficult to scale. Decentralized workflows across multiple facilities created compliance challenges. Limited visibility into strategic sourcing insights. Limited supplier engagement across sites.

Results

125K+ events run with zero human intervention; 55% reduction in time to award; $15M awarded savings from automated events; 50% reduction in event creation-to-open time; 13% improvement in manual event performance; buyers shifted to strategic focus

Challenge

Lean centralized procurement team (<10 members) managing high-volume sourcing needs. Manual workflows and email-based processes causing long cycle times. Limited supplier visibility. No centralized tooling or data. Audit and compliance gaps. Need to scale without increasing headcount.

Results

36% reduction in cycle times; 10%+ identified savings increase in first year; 6% awarded savings across sourced spend; 42%+ of supplier interactions via Fairmarkit; innovative use cases achieved >16% savings in new categories; 50% cost reduction on specific RFP

Challenge

COVID-19 pandemic significantly reduced workforce and forced remote work with limited internet infrastructure. Limited resources required to manage procurement, warehouse, logistics, and contracting. Needed to generate cost savings and automate with small team.

Results

Quick 1-month implementation; ROI achieved in 6 weeks; 14% identified savings (mostly in Equatorial Guinea); 6% awarded savings; optimized supplier base; reduced email traffic significantly; increased vendor bid participation

Challenge

Fragmented procurement across multiple regions (US, Mexico, Canada) with limited visibility. No data-driven procurement policies, unmanaged MRO spend, missed savings opportunities, no digital modernization path.

Results

4-5 day average cycle times; standardized sourcing processes; 11% identified savings; 4x average annualized ROI; 8.5% awarded savings; gained control over previously unmanaged MRO spend; improved compliance with sourcing policies

Challenge

Decentralized procurement model had autonomy but caused manual processes, long cycle times, and limited visibility. Manual requester-buyer communication, multi-channel sourcing coordination, and inconsistent compliance.

Results

3.7x year one ROI; 7 suppliers engaged per event on average; 9% identified savings; sourced 100+ requests per day in LATAM region; zero coding errors in PO rework; improved supplier diversity and competitive sourcing