Emptoris vs. Fairmarkit

Overview
ProductRatingMost Used ByProduct SummaryStarting Price
Emptoris
Score 5.5 out of 10
N/A
N/A
$59
Per User Per Month
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
EmptorisFairmarkit
Editions & Modules
Emptoris
$59.00
Per User Per Month
No answers on this topic
Offerings
Pricing Offerings
EmptorisFairmarkit
Free Trial
NoNo
Free/Freemium Version
NoNo
Premium Consulting/Integration Services
NoYes
Entry-level Setup FeeNo setup feeNo setup fee
Additional Details
More Pricing Information
Community Pulse
EmptorisFairmarkit
Features
EmptorisFairmarkit
Contract Authoring
Comparison of Contract Authoring features of Product A and Product B
Emptoris
8.3
4 Ratings
3% above category average
Fairmarkit
-
Ratings
Contract creation9.04 Ratings00 Ratings
Contract templates7.84 Ratings00 Ratings
Clause library/saved fields8.34 Ratings00 Ratings
Guided logic8.02 Ratings00 Ratings
Contract Collaboration
Comparison of Contract Collaboration features of Product A and Product B
Emptoris
7.9
4 Ratings
3% below category average
Fairmarkit
-
Ratings
Contract sharing8.04 Ratings00 Ratings
Contract editing8.74 Ratings00 Ratings
Collaborating on contracts7.53 Ratings00 Ratings
MS Word plug-in7.52 Ratings00 Ratings
Approval process8.24 Ratings00 Ratings
Interdepartmental workflows7.84 Ratings00 Ratings
Contract Monitoring
Comparison of Contract Monitoring features of Product A and Product B
Emptoris
7.8
5 Ratings
6% below category average
Fairmarkit
-
Ratings
Contract database7.75 Ratings00 Ratings
Contract search7.55 Ratings00 Ratings
Contract milestone reminders & alerts8.53 Ratings00 Ratings
Custom contract reports7.44 Ratings00 Ratings
Tracking contract status8.44 Ratings00 Ratings
Compliance check7.93 Ratings00 Ratings
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User Ratings
EmptorisFairmarkit
Likelihood to Recommend
8.1
(15 ratings)
10.0
(1 ratings)
Likelihood to Renew
8.0
(10 ratings)
-
(0 ratings)
Usability
8.0
(2 ratings)
-
(0 ratings)
Support Rating
8.0
(2 ratings)
-
(0 ratings)
User Testimonials
EmptorisFairmarkit
Likelihood to Recommend
IBM
If you have a highly bureaucratic organization that is heavily focused on procurement, Emptoris can provide some value. It seemed to be very good at linking the contract information to procurement for better spend control. If you are trying to implement a standalone contract management solution that allows you to easily create contracts and store them in a central location, this isn't the tool for you. There doesn't appear to be a simplified implementation. In general, when a SaaS solution has a complicated and expensive implementation, I am very skeptical. This does not show that the vendor is trying to move customers forward on a single code base. If that many things need to be done during implementation, you are starting to customize the solution for every customer. This hurts the vendor's ability to scale and make improvements in the future.
Read full review
Fairmarkit
Tooling, packaging, shipping supplies, and fasteners have given us the best results. Sourcing for food vending was not very successful.
Read full review
Pros
IBM
  • Document protection - the Check Out contract feature is a great way to allow external parties to make modifications to contract language without the ability to accept those changes. Those redlines can then be imported back into Emptoris and reviewed or further modified as needed.
  • Notifications & reminders - you can trigger an email manually from within the system, or you can configure automated notifications andreminders to alert users when a new task is received or has aged a given amount of days, etc.
  • Interview wizard - there is a lot of value in the interview wizard. Administrators can configure screens with selecting options via check boxes, radio buttons, or typed-in values. Variables and conditions can be used to selectively populate fields within the contract or apply other options, making for a quick and convenient method to generate contracts conforming to corporate standards.
  • Field customization - administrators can customize a list of options for various fields including contract substatus, address type, and user created business term variables.
  • Approvals - many different options are available to configure approvals to trigger automatically upon presenting and/or executing the contract including specific individuals, one or more approver groups, or based upon various criteria including terms within the contract, type of contract, or the contract's owning organization.
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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
IBM
  • Reporting, Emptoris comes with standard reports which can not always can be fit into our business. This needs to be improved. I hope Emptoris is addressing this issue in their latest releases.
  • Though the feature of editing language in MS word is excellent, loading MS word takes time.
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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
Read full review
Likelihood to Renew
IBM
There are a lot of new, exciting products coming out in every field and I believe that there is always something better right over the horizon. If it was my choice, I would review my usage of Emptoris and other software periodically to make sure I'm using the most efficient software possible.
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Fairmarkit
No answers on this topic
Usability
IBM
Emptoris is a pretty robust tool overall. Learning curve is small and it is simple to use
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Fairmarkit
No answers on this topic
Support Rating
IBM
The above rating for the overall support from Emptoris is for their product / product support, roll out training and refresher training / ongoing training, which is not only good but superior. There is no major or reconizable bad review that can be given to Emptoris at this point in time, from where is stands.
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Fairmarkit
No answers on this topic
Alternatives Considered
IBM
I am a fan of Ariba to be used for the entire lifecycle of Sourcing. From RFX's to cutting PO's. I feel Emptoris misses the boat on the idea of a "One Stop Shop" for all of your Sourcing/Purchasing needs
Read full review
Fairmarkit
Fairmarkit brought a better value to the table that other competitors.
Read full review
Return on Investment
IBM
  • We won the 2005 Baseline Magazine Award for best ROI related to a technology implementation with an ROI 5544% (see 2005 Baseline ROI Awards, GlaxoSmithkline).
  • We always felt we could do "two times the work, with half the people and deliver double the savings".
Read full review
Fairmarkit
  • Our 1X ROI was achieved in 4 months
  • After one year the savings exceeded our target
Read full review
ScreenShots

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.