FairMarkIT VS VENDX by MavenVista

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.

VENDX is a software solution that fits painlessly in your procurement organization. This tool very easily prioritizes the Negotiation and Control aspects of the purchase process while making sure that administrative tasks become easier and more thorough. VENDX is a valuable stand-alone tool, but just as smoothly integrates with your existing software environment.

You can be up and running with VENDX almost immediately since we need minimum implementation time and very minimal training for the user. Interestingly, to use VENDX your suppliers just require an email id & can start responding on VENDX from the day one most intuitively!

To aid the buying process we have:

Price Discovery Strategic Negotiation Landed Cost Computation Forward Auction Reverse Auction (On Landed Cost) Supplier Behavior Analytics Supplier Community Management

Most importantly, the VENDX platform can be operated from any part of the world 24X7X365. This significantly reduces the transaction backlog and enables speedy decision making!