FairMarkIT VS Prokuria

Through streamlined sourcing, vendor identification, and automated quoting, Fairmarkit accelerates the bid-to-buy process. The solution uses machine learning and artificial intelligence to reduce manual effort by 30-40% on purchases while yielding savings of over 15%. The platform connects directly to your existing internal systems providing a rapid implementation process and enabling more spend to be placed under management. Fairmarkit is headquartered in Boston and is the only solution focused exclusively on tail spend sourcing and payment process.

Prokuria: Streamlining Procurement Excellence

Founded in 2018, Prokuria revolutionizes procurement processes with its cutting-edge software. This solution simplifies sourcing, purchase requisitions, supplier evaluation, and purchase orders, fostering efficiency and collaboration.

Key Features:

• Effortless Sourcing: Easily manage RFQs and RFPs, enhancing communication with suppliers for accurate bids.

• Seamless Requisitions: Create purchase requisitions smoothly, ensuring compliance with approval workflows.

• Supplier Assessment: Evaluate suppliers based on predefined criteria for informed decisions and stronger relationships.

• Optimized Purchase Orders: Efficiently generate and manage purchase orders for precise procurement transactions.

Advantages:

• No-Code/Low-Code: Tailor processes without extensive coding for flexibility and adaptability.

• Swift Implementation: Prokuria's quick setup accelerates benefits realization.

• Enhanced Collaboration: Collaboration between teams and suppliers enhances outcomes.

• Strong Supplier Relations: Supplier evaluation tools foster reliable partnerships.

Specialization:

Prokuria specializes in Source-to-Pay (S2P) and Source-to-Contract (S2C) processes, ensuring optimal procurement stages. Note that invoice handling and payment processing are not within Prokuria's scope.

Discover how Prokuria can elevate your procurement processes for efficiency and excellence.