Acquirell vs. Fairmarkit

Overview
ProductRatingMost Used ByProduct SummaryStarting Price
Acquirell
Score 8.5 out of 10
Mid-Size Companies (51-1,000 employees)
Acquirell is a SaaS procurement technology suite solution tailored to SMBs. Acquirell enables businesses to save the time of their procurement teams by eliminating manual workflow and automating the procurement process. The E-Sourcing module of Acquirell enables the companies to attain more savings on purchased volume by conducting various forms of sourcing events. Acquirell helps to eliminate the following issues that SMBs face in their day-to-day…
$20
per month per user
Fairmarkit
Score 10.0 out of 10
Enterprise companies (1,001+ employees)
Fairmarkit is an autonomous sourcing platform that transforms tail spend and strategic spend so organizations can source more competitively at scale. It integrates with ERP and P2P systems to automate manual source-to-award workflows so procurement teams can manage more events and reduce cycle times by without adding resources. Fairmarkit’s AI-powered supplier recommendations find the best-fit suppliers for events by leveraging an organization’s procurement data,…N/A
Pricing
AcquirellFairmarkit
Editions & Modules
Free
$0
per month per user
Team
$20
per month per user
Enterprise
Contact Us
No answers on this topic
Offerings
Pricing Offerings
AcquirellFairmarkit
Free Trial
YesNo
Free/Freemium Version
YesNo
Premium Consulting/Integration Services
NoYes
Entry-level Setup FeeNo setup feeNo setup fee
Additional Details
More Pricing Information
Community Pulse
AcquirellFairmarkit
Top Pros

No answers on this topic

Top Cons

No answers on this topic

Best Alternatives
AcquirellFairmarkit
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Score 8.6 out of 10
MIP Fund Accounting
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Score 8.6 out of 10
Medium-sized Companies
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Score 9.8 out of 10
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Score 9.8 out of 10
Enterprises
Oracle Fusion Cloud ERP
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Score 6.8 out of 10
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Score 6.8 out of 10
All AlternativesView all alternativesView all alternatives
User Ratings
AcquirellFairmarkit
Likelihood to Recommend
8.5
(2 ratings)
10.0
(1 ratings)
Likelihood to Renew
8.2
(1 ratings)
-
(0 ratings)
Support Rating
9.1
(1 ratings)
-
(0 ratings)
User Testimonials
AcquirellFairmarkit
Likelihood to Recommend
Acquirell
It is most appropriate to utilize Acquirell for processing the purchase orders with vendors. If you don't want to onboard the vendors into the system you may easily generate the POs in PDF. Acquirell includes amazing capabilities for running RFI, RFQ, and RFP events. It is very easy to manage purchase requisitions in a single system. Also, the tool is a good fit to manage the complex approval workflow. It is less appropriate to utilize Acquirell for managing contracts because instead of simply editing the text of the contract you should play with the configurations of the contract in the system and fill out various fields
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Fairmarkit
Tooling, packaging, shipping supplies, and fasteners have given us the best results. Sourcing for food vending was not very successful.
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Pros
Acquirell
  • Robust sourcing module with very flexible configurations is a great tool for running RFPs
  • We can easily send POs to the suppliers via Acquirell
  • The great Contract Management module lets us administrate the contracts easily
  • We can easily handle the supplier database
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Fairmarkit
  • compares bids
  • ranks potential supplier for each RFQ
  • messaging inside the app is more effective than emails
Read full review
Cons
Acquirell
  • Cannot edit the text of the contracts in the Contract Management module just like we were editing it in MS Word
  • Accounts Payable is out of scope
  • The Supplier Management module is "just okay". Acquirell team should develop features
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Fairmarkit
  • making customs fields have required input by the buyer
  • a little more flexibility in the reporting, driven by the user
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Likelihood to Renew
Acquirell
It really helps us to handle almost all our procurement activities (except the CLM process)
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Fairmarkit
No answers on this topic
Support Rating
Acquirell
Acquirell team has conducted the Zoom sessions with us to explain and clarify all the details. Their manager Olivia and their product manager Dimitri were really approachable If there arise any issues related to working in the system the Acquirell team is always trying to respond ASAP
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Fairmarkit
No answers on this topic
Alternatives Considered
Acquirell
I haven't evaluated any other procurement solutions. Before implementing Acquirell we were using emails, Word, and Excel in our procurement processes. Overall, it is much more convenient to conduct procurement activities in Acquirell rather than to collect the bids via email and keep a bunch of Word or Excel files.
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Fairmarkit
Fairmarkit brought a better value to the table that other competitors.
Read full review
Return on Investment
Acquirell
  • Now the purchasing team saves a lot of time
  • The number of errors has been reduced due to elimination of manual workflow
  • Now we do not have to keep a lot of Word, Excel, or PDF files since most of the procurement data is stored in Acquirell. Therefore the data does not get lost
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Fairmarkit
  • Our 1X ROI was achieved in 4 months
  • After one year the savings exceeded our target
Read full review
ScreenShots

Acquirell Screenshots

Screenshot of Collects purchase requisitions from all departments and employees. Aggregates identical requisitions. Approvals by different persons depending on the amount or other criteria. Creates procurement plans for different time frames. Compare planned costs against budget constraints. Convert a requisition into a PO. Track the requisition status at all stages until the product or service is received from the supplier.Screenshot of Sourcing events for a wide variety of situations and relationships. Configuration of all parameters; the mechanics of tenders are under the user's control.Screenshot of Manages strategic sourcing for a product’s key cost components. Compare offers and select the best one based on any criteria.Screenshot of Automates all stages of working with contracts. Prepare contracts according to templates. Partial auto-population based on the bidding results. Approvals within the company and with the supplier.Screenshot of Create the approval routes and assign the controllers. Spending controls with standardized approval processes.Screenshot of Automatic data collection to calculate procurement department’s KPIs. Built-in reports and dashboards for the most popular metrics.

Fairmarkit Screenshots

Screenshot of Fairmarkit integrating directly into existing enterprise resource planning (ERP) and procure-to-pay (P2P) platforms to create a seamless buying experience. Choose requisitions to source through the platform seamlessly sends the RFx data to Fairmarkit.Screenshot of Fairmarkit's artificial intelligence recommended approved vendors that can provide the requested goods or services, that appears after importing or creating a requisition. Other non-registered vendors can be added from the Fairmarkit vendor ecosystem. After selecting vendors and submitting a request, Fairmarkit will handle soliciting and collecting bids.Screenshot of For RFP events, Fairmarkit can keep evaluation and scoring information in one place to make awarding decisions easier. Evaluators can evaluate and score all or select supplier responses. Supplier responses can be viewed side-by-side for fast comparison.Screenshot of Within 24 hours of sending a request, vendors can submit quotes which will be centralized in one place for processing. Machine learning algorithms will make recommendations based on the responses received. If the request has multiple items, the option can be awarded to one or more vendors, and that information will flow back into a connected ERP or P2P.Screenshot of Fairmarkit offers AI and automation in various ways to make sure that sourcing events is as easy as possible. Guided RFP creation will suggest sections and questions for RFP users to speed event creation.