Fairmarkit vs. GEP SMART

Overview
ProductRatingMost Used ByProduct SummaryStarting Price
Fairmarkit
Score 10.0 out of 10
Enterprise companies (1,001+ employees)
Fairmarkit is an autonomous sourcing platform that transforms tail spend and 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 more events and reduce cycle times by without adding resources. Fairmarkit’s AI-powered supplier recommendations find the best-fit suppliers for events by leveraging an organization’s procurement data,…N/A
GEP SMART
Score 7.3 out of 10
Enterprise companies (1,001+ employees)
GEP SMART is a procurement platform, meant as an end-to-end unified procurement solution that provides synergy between finance and purchasing and process fluidity.N/A
Pricing
FairmarkitGEP SMART
Editions & Modules
No answers on this topic
No answers on this topic
Offerings
Pricing Offerings
FairmarkitGEP SMART
Free Trial
NoNo
Free/Freemium Version
NoNo
Premium Consulting/Integration Services
NoNo
Entry-level Setup FeeNo setup feeNo setup fee
Additional Details
More Pricing Information
Community Pulse
FairmarkitGEP SMART
Considered Both Products
Fairmarkit
GEP SMART
Chose GEP SMART
No comments.I didn't make the purchasing decision.
Chose GEP SMART
We have used or evaluated Coupa and SAP Ariba primarily.
Chose GEP SMART
We have competitively bid to select GEP and based on the evaluation criteria and pricing proposed, we felt that GEP had the most potential and willingness to work with us. In terms of functionality, I personally think Ariba and Jaggaer have more mature products, but many of …
Chose GEP SMART
We explored and assessed a few other supply management operating systems, and GEP SMART provided the best value for us.
Chose GEP SMART
We selected GEP SMART for its ability to offer a full end-to-end integrated source-to-pay solution, pricing, and ease of use. There was an implementation series offered by GEP, as well as flexibility, customization, account management team dedication, and the overall service …
Chose GEP SMART
At the time of selection, about 4 years ago, GEP offered the best balance of usability, functionality, cost, and partnering for our needs. Since then we have re-evaluated the market and there are now other vendors that offer a better mix, together with a superior innovation …
Chose GEP SMART
When we have evaluated other spending solutions providers, we always select GEP in the end due to the excellent customer service and support that we get from the Technical Team.
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FairmarkitGEP SMART
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Medium-sized Companies
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Precoro
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Score 2.8 out of 10
Enterprises
SAP S/4HANA Cloud
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Score 8.6 out of 10
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Score 8.6 out of 10
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User Ratings
FairmarkitGEP SMART
Likelihood to Recommend
10.0
(0 ratings)
7.0
(0 ratings)
Likelihood to Renew
-
(0 ratings)
7.3
(0 ratings)
Usability
-
(0 ratings)
6.9
(0 ratings)
Performance
-
(0 ratings)
6.6
(0 ratings)
Support Rating
-
(0 ratings)
8.0
(0 ratings)
Implementation Rating
-
(0 ratings)
7.3
(0 ratings)
User Testimonials
FairmarkitGEP SMART
Likelihood to Recommend
Tooling, packaging, shipping supplies, and fasteners have given us the best results. Sourcing for food vending was not very successful.
Read full review
GEP SMART is well suited to equip procurement professionals to manage multiple RFx's at one point in time and help provide structure to the process. If an organization has an existing ERP and they want to acquire GEP SMART as a bolt-on, then integration is key. If there is any customization then it is more difficult to take advantage of the latest upgrades.
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Pros
  • compares bids
  • ranks potential supplier for each RFQ
  • messaging inside the app is more effective than emails
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  • The customer service level is incomparable to any other software providers I work with. The GEP Technical Team is very supportive and flexible.
  • The GEP Team takes enhancement requests seriously and always tries to further develop/enhance the tool, especially with small requests from users.
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Cons
  • making customs fields have required input by the buyer
  • a little more flexibility in the reporting, driven by the user
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  • Our organization has yet to take advantage of upgrading to the latest version of GEP SMART. The version that we are on does not make use of the full screen for the different internal windows and pop-up windows. I find it cumbersome to scroll left-right and up-down on the smaller windows when there is much real-estate on the screen that could optimize the user interface.
  • GEP SMART provides technical support but our vendors seem to have some difficulty logging in to their profiles and updating their information. Occasionally, the salesperson delegates to another internal member so we'll have to set up the new member with their log in.
  • The digital signature process requires that the signers of the agreement be defined before the agreement is routed for approval. Sometimes our vendors have a pool of signers that could sign the agreements and it can become a small challenge to change the signers after it has already been defined in GEP SMART.
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Likelihood to Renew
No answers on this topic
The tool is fantastic, but we are investigating a broader spend management solution at the moment which may mean we look in a different direction for this capability, most likely internally developed.
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Usability
No answers on this topic
The application is highly usable, but there are some parts of the design that could be improved such as the layout and scaling on the pages, the amount of unused white space within the interface, and the consistency of the interface between modules.
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Performance
No answers on this topic
The performance of the GEP SMART platform overall has been excellent. We do not hear complaints about system performance and have not experienced any slowdowns in adjacent systems due to the GEP implementation. Of all the (largely self-inflicted) change management challenges we've dealt with, system performance and platform reliability have not been on the list of concerns.
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Support Rating
No answers on this topic
The support team is responsive, smart, and knowledgeable about their product and about our business needs. They are also flexible to respond to questions and find solutions to our requirements.
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Implementation Rating
No answers on this topic
Although we had encountered many bugs, GEP was able to address them quickly, and sent a technical person to sit in our hands-on training sessions to address bugs efficiently
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Alternatives Considered
Fairmarkit brought a better value to the table that other competitors.
Read full review
We selected GEP SMART for its ability to offer a full end-to-end integrated source-to-pay solution, pricing, and ease of use. There was an implementation series offered by GEP, as well as flexibility, customization, account management team dedication, and the overall service and support.
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Return on Investment
  • Our 1X ROI was achieved in 4 months
  • After one year the savings exceeded our target
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  • GEP SMART has improved our spend analytics speed by allowing analysis to be completed in minutes compared to days when we previously used Excel spreadsheets.
  • The SMART Sourcing (RFX) solution has greatly improved the consistency of our supplier quoting and information gathering process.
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ScreenShots

Fairmarkit Screenshots

Screenshot of Fairmarkit integrating directly into existing enterprise resource planning (ERP) and procure-to-pay (P2P) platforms to create a seamless buying experience. Choose requisitions to source through the platform seamlessly sends the RFx data to Fairmarkit.Screenshot of Fairmarkit's artificial intelligence recommended approved vendors that can provide the requested goods or services, that appears after importing or creating a requisition. Other non-registered vendors can be added from the Fairmarkit vendor ecosystem. After selecting vendors and submitting a request, Fairmarkit will handle soliciting and collecting bids.Screenshot of For RFP events, Fairmarkit can keep evaluation and scoring information in one place to make awarding decisions easier. Evaluators can evaluate and score all or select supplier responses. Supplier responses can be viewed side-by-side for fast comparison.Screenshot of Within 24 hours of sending a request, vendors can submit quotes which will be centralized in one place for processing. Machine learning algorithms will make recommendations based on the responses received. If the request has multiple items, the option can be awarded to one or more vendors, and that information will flow back into a connected ERP or P2P.Screenshot of Fairmarkit offers AI and automation in various ways to make sure that sourcing events is as easy as possible. Guided RFP creation will suggest sections and questions for RFP users to speed event creation.

GEP SMART Screenshots

Screenshot of Landing PageScreenshot of Create Tasks and DocumentsScreenshot of Manage TasksScreenshot of Analytical ReportsScreenshot of Savings Projects - Tracking ResultsScreenshot of Spend Dashboard