Fairmarkit has announced a new partnership and integration with ServiceNow to boost productivity for customers.
The company, which is a leading autonomous sourcing solution set on transforming the procurement of goods and services, has unveiled an automated quoting integration with the ServiceNow platform to drive efficiency.
Scaling efficiency
It is anticipated that the move will help enterprise procurement increase spend under management, source goods and services efficiently as well as operationalise DEI and ESG initiatives through an automated quoting process.
With Fairmarkit’s automation, AI and GenAI capabilities embedded within ServiceNow’s Source-to-Pay Operations solution, end users can automatically create, send and award quotations from within the ServiceNow interface which streamlines processes and decreases turnaround time for competitive quoting.
Buyers maintain the same level of user experience and functionality they expect from Fairmarkit sourcing including reduced cycle time, greater visibility into spend, higher savings and improved compliance and diversity maintenance from within the ServiceNow interface.
Initiated via a ServiceNow sourcing request, requests for quotes (RFQs) are automatically sent to suppliers and bids are collected and presented to the user for an award decision within ServiceNow. Once an award is made, a purchase requisition is created and the customer’s desired ServiceNow workflow is continued.
Revolutionising the way forward
Kevin Frechette, CEO of Fairmarkit, commented: “Fairmarkit’s integration with ServiceNow furthers our commitment to revolutionising the way all organisations buy and sell. We are fired up to work collaboratively with joint customers to ensure the most user friendly and efficient purchasing process possible.”
Kirsten Loegering, VP, Product Management – Finance & Supply Chain Workflows at ServiceNow, added: “From enterprise end users to seasoned procurement professionals, automated quoting with Fairmarkit will simplify the intake-to-award process, while also increasing opportunities for costs savings and efficiency gains. Establishing this partnership with the market leading sourcing solution opens the door for enterprises to bring more spend under management, enables end users to competitively quote with little effort, and paves the way for more value and less manual work.”
