2018-10-09 16:16
The saying, ”In God we trust, all others must bring data” seems to resonate very well when we start talking about tail spend Key Performance Indicators (KPIs). However, mos… Read More
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Fairmarkit - Tail Spend Management Platform Blog
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2018-10-08 18:00
Both ‘purchasing’ and ‘procurement’ are terms that signify the process of acquiring goods and services that a company needs. This is the reason why many people mistak… Read More
2018-10-04 19:13
Moving Toward Better Retail Procurement
Running a successful business in this day and age isn’t easy for anyone, but retailers may have it the hardest. Hit with scandal after scandal… Read More
2018-10-02 16:09
Tail spend is spend at an organization that is not strategically managed and typically under $100K per purchase. However, tail spend is not inconsequential, making up 20% of overall an… Read More
2018-09-28 19:01
Most companies look to their procurement departments to help keep the cost down while maintaining optimal results. This is especially important for small businesses, where even the smallest… Read More
2018-09-20 20:15
There has been a lot of talk about education reform in recent years, but all discussions invariably focus on the curriculum. While it’s true that the curriculum is in dire need of a th… Read More
2018-09-12 12:09
It often seems that no matter where you are the conversation can turn to healthcare reform. While this can be annoying, it isn’t shocking. In general, large systems are fertile ground… Read More
2018-08-30 15:19
The Procurement Marketing Relationship Is Essential for Business
The 2008 financial crisis, Brexit, and the resulting shifts in the global marketplace have forced businesses to take drastic… Read More
2018-08-21 15:21
Addressing Tail Spend – the ‘last mile’ of procurement spending – can yield big benefits. Businesses worldwide are relentlessly pursuing continuous improvement … Read More
2018-08-16 19:16
At first, digital transformation may sound like yet another buzzword making the rounds. However, it is actually a crucial process in the present-day business world. The need to modernize, di… Read More
2018-07-21 20:55
Moving Towards Digital Procurement
We live in a digital age. When it comes to business, modern times and technologies have brought many new opportunities and challenges with them. Digitizat… Read More
2018-07-20 14:34
Given the breadth of products and supplier relationships that procurement is in charge of, strategic procurement is not always possible. Many companies either don’t have the time or th… Read More
2018-07-11 22:16
Each year, the MBTA makes about 15,000 purchases of orders worth less than $50,000 each. Policy rules dictate that for many of those purchases — for things like spray paint, steering s… Read More
2018-06-27 17:24
The procurement and finance departments of your organization are two sides of the same coin. This is especially true in the context of the purchase-to-pay (P2P) process. Yet despite that, in… Read More
2018-06-14 14:45
How Procurement Automation Can Benefit Your Business
With the rapid development of new technologies in the last decade, businesses in various fields have taken steps to implement process aut… Read More
2018-06-07 13:20
Despite keeping costs under control, many companies fail to achieve their desired level of profitability. This can happen because procurement departments are unaware of just how important in… Read More
2018-06-06 14:30
6/6/18 – FairMarkIT today announced that it has joined the Oracle Scaleup Ecosystem program and has been nominated for a Future of Sourcing Award through the Sourcing Industry Group (S… Read More
2018-05-31 12:40
For many years, the internal processes for making purchases were fairly straightforward. An employee created a purchase form which was submitted to the procurement team and finance departmen… Read More
2018-05-24 16:11
BOSTON, May 24, 2018
FairMarkIT is proud to announce its first round of institutional funding and their new board of directors. FairMarkIT is a Boston-based tail spend management… Read More
2018-05-15 11:58
Over the past few years, cloud-based computing and storage have been known as ‘the next big thing’ for companies spanning across all industries. It stands to reason that adoption… Read More
2018-05-11 13:07
Here at FairMarkIT, we understand the importance of data in making informed decisions. Insight into the needs and wants of customers are better understood through usage statistics. Data is e… Read More
2018-04-17 23:03
Until recently, tail spend has generally been ignored by large, corporate procurement departments; assuming that it was not worth the time and investment. But it seems that in 2018 it is fin… Read More
2018-03-16 13:22
Great leaders excel in creating goals that are specific and compelling, to reach these goals they foster collaboration and innovation within their team. However, being a great leader isn&rsq&hell…Read More
2018-03-02 17:24
The procurement department wasn’t created to be a communicator, it was created to be objective, analyze data and make decisions.But failure to communicate, can result in poor morale wi… Read More
2018-02-22 22:17
If you check out our blog often, you know that at FairMarkIT we think that tail spend management matters We feel so strongly about it because our team has been able to help quantify th… Read More
2018-02-13 19:45
Are you focusing on strategy or transactions?
Regardless of internal department, it’s easy to get caught up in the day-to-day tasks, and in procurement that often means managing transa… Read More
2018-02-01 21:08
There is a reason why the smart folks at Coca-Cola, Starbucks, and Harvard have created Supplier Diversity programs, joining their public entity counterparts, which are federally mandated to… Read More
2018-01-29 18:22
I’m 40,000 feet in the air flying from Boston to Dublin. As I sit back in my seat with a Guinness in hand, I begin to consider the safety of my flight. I start contemplating the… Read More
2018-01-19 18:23
Late in 2017, we called digital transformation one of the “ingredients for innovation” in procurement. But simply using Amazon Business for your supply purchases or optimizing yo… Read More
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