Conduent, a global technology-driven business solutions and services provider, announced a strategic collaboration with Fairmarkit, an autonomous AI-powered sourcing platform designed to optimize procurement workflows from RFP to award for all levels of spend. The Fairmarkit sourcing technology will complement Conduent's FastCap® Finance Analytics, which improves financial performance.
Fairmarkit’s platform utilizes the most impactful AI technologies to enable robust procurement support:
Streamline Procurement Processes – Support full range of workflow processes from sourcing strategic suppliers to managing RFP responses and awards to drive greater efficiency and visibility across suppliers.
Enhance Sourcing Accuracy – Use AI-driven insights to refine purchasing decisions.
Expand Cost-Saving Opportunities – Offer real-time data analytics to optimize spend management.
The data from FastCap, a finance analytics tool that prevents and recovers payment errors, can identify opportunities to improve tail spend. Combining the capabilities of FastCap and Fairmarkit automates the capture of those tail spend opportunities to accelerate savings.
Allison Yount, Vice President of Partnerships and Business Development at Fairmarkit
We’re thrilled to partner with Conduent to bring the power of AI-powered sourcing to a broader range of procurement teams. Conduent’s deep expertise in procurement transformation, combined with Fairmarkit’s intelligent technology and experience working with the world’s leading procurement teams, creates a compelling solution that empowers organizations to optimize their spend, streamline processes, and unlock new value from their sourcing activities.
