TrustRadius Insights for Fairmarkit are summaries of user sentiment data from TrustRadius reviews and, when necessary, third party data sources.
Pros
Efficient Supplier Management: Reviewers have praised Fairmarkit for its ability to effectively manage suppliers and requests for quotations. The platform offers a detailed review of all suppliers, their prices, and offers, making it easy to compare prices and choose the most appropriate supplier for their company.
Supplier Qualification Tool: Several reviewers have commended the supplier qualification tool provided by Fairmarkit. This feature provides a lot of information necessary to know the supplier, including purchase history, previous prices, description, and quality of their products.
Catalog Aggregator Feature: Many users found the catalog aggregator feature to be very useful. It automatically searches for the best prices that exist in various catalogs and presents the information in an easy-to-understand format. This hands-off savings generation feature is a significant value proposition for the software.
We use it for sourcing MRO and tailspend areas. Increases buyer productivity, assists in locating new net suppliers, makes our current suppliers more competitive.
Pros
compares bids
ranks potential supplier for each RFQ
messaging inside the app is more effective than emails
Cons
making customs fields have required input by the buyer
a little more flexibility in the reporting, driven by the user
Likelihood to Recommend
Tooling, packaging, shipping supplies, and fasteners have given us the best results. Sourcing for food vending was not very successful.