The online sourcing platform Fairmarkit announced September 26 that it had launched an artificial intelligence tool aimed at automating sourcing processes to help procurement teams save time. The new tool allows procurement teams to create and manage requests for proposals (RFPs) while connecting suppliers with customers.
“Business users go around procurement when they think it’ll take too long to get their needs met. Our new solution solves that issue, reining in spend and putting business leaders and their procurement teams on the same page, with significant savings in both time and money,” said Karim Wahba, Fairmarkit’s Head of Data Science. “The solution is a result of close collaboration with executive champions, beta users, and our data science teams, leading to an approachable yet powerful use case for GenAI that procurement teams will love – almost as much as the newfound time they’ll unlock.”
