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Fairmarkit vs. SAP Supplier Relationship Manager

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    Overview
    ProductRatingMost Used ByProduct SummaryStarting Price

    Fairmarkit

    Score10 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

    SAP Supplier Relationship Manager

    Score9 out of 10
    N/ASAP Supplier Relationship Manager is a solution combining procurement, catalog management and contract management.N/A
    Pricing
    FairmarkitSAP Supplier Relationship Manager
    Editions & Modules
    No answers on this topic
    No answers on this topic
    Offerings
    Pricing Offerings
    FairmarkitSAP Supplier Relationship Manager
    Free Trial
    NoNo
    Free/Freemium Version
    NoNo
    Premium Consulting/Integration Services
    YesNo
    Entry-level Setup FeeNo setup feeNo setup fee
    Additional Details——
    More Pricing Information
    Best Alternatives
    FairmarkitSAP Supplier Relationship Manager
    Small Businesses
    No answers on this topic
    No answers on this topic
    Medium-sized Companies
    Precoro
    Score9.5 out of 10
    Precoro
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    Enterprises
    GEP Quantum Intelligence
    Score9.1 out of 10
    GEP Quantum Intelligence
    Score9.1 out of 10
    All AlternativesView all alternativesView all alternatives
    User Ratings
    FairmarkitSAP Supplier Relationship Manager
    Likelihood to Recommend
    10.0
    (1 ratings)
    9.0
    (1 ratings)
    User Testimonials
    FairmarkitSAP Supplier Relationship Manager
    Likelihood to Recommend
    Fairmarkit
    Tooling, packaging, shipping supplies, and fasteners have given us the best results. Sourcing for food vending was not very successful.
    Incentivized
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    SAP
    SAP Supplier Relationship Manager is well suited wherever SAP ERP (like ECC , S/4HANA) is in use. It might not work well when ERP is not from SAP (mostly ERP for small customers like NETSUITE, APPTIO, CORTEX etc.). for smaller customers procurement software like Coupa would better fit compared to SAP Supplier Relationship Manager. For large customers (like fortune 500 companies) SAP-SRM would fit very well.
    Incentivized
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    Pros
    Fairmarkit
    • compares bids
    • ranks potential supplier for each RFQ
    • messaging inside the app is more effective than emails
    Incentivized
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    SAP
    • Bid Invitation
    • contract management
    • Live Auction
    • Invoicing
    • Shopping Cart
    Incentivized
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    Cons
    Fairmarkit
    • making customs fields have required input by the buyer
    • a little more flexibility in the reporting, driven by the user
    Incentivized
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    SAP
    • Integration with ERP other than SAP
    • Analytics
    • Languages support
    • Automation
    Incentivized
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    Alternatives Considered
    Fairmarkit
    Fairmarkit brought a better value to the table that other competitors.
    Incentivized
    Read full review
    SAP
    Coupa is better suited for smaller organizations and can integrate well with non-SAP ERPs. It has more languages supported and good mobile interface. Coupa has good Analytics and ca integrate well with ERPs like netsuite, octa, salesforce, cortex etc. It can also well integrate with other software like Docusign and support multiple languages with easier custom development.
    Incentivized
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    Return on Investment
    Fairmarkit
    • Our 1X ROI was achieved in 4 months
    • After one year the savings exceeded our target
    Incentivized
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    SAP
    • efficiency in procurement function resulting lower TCO
    • Better relationship with suppliers
    • compliance management
    Incentivized
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    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.