Procurement Magazine July 2022 | Page 35

Taming tail spend : Fairmarkit helps WBA cut costs and cycle time

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Fairmarkit hit the procurement scene in 2017 , disrupting the procurement landscape so long dominated by complex providers like Lorem ipsum dolor sit amet , consectetuer Oracle and SAP and giving enterprises the adipiscing elit , sed diam nonummy nibh euismod tools they need to automate their supply tincidunt ut laoreet dolore magna aliquam erat chain operations . It characterises itself
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time managing low-value contracts .” enim ad minim Lorem ipsum dolor sit amet , Tail spend makes up about 30 % to 40 % consectetuer adipiscing elit , sed diam nonummy of a company ’ s total spend and about Lorem ipsum dolor sit amet , consectetuer Lorem 90 % to 95 % of their total purchases . ipsum dolor sit amet , consectetuer adipiscing Most procurement functions devote little elit , sed diam nonummy nibh euismod tincidunt attention to managing tail spend because
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tail spend effectively , companies need to leverage intelligent sourcing and structured data to transform the way buyers are sourcing , purchasing and optimising tail spend . Lorem ipsum dolor sit amet , consectetuer Within four years Fairmarkit had attracted adipiscing elit , sed diam nonummy nibh euismod global interest , winning multiple awards , tincidunt ut laoreet dolore magna aliquam erat and was in partnership with a host of
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, helping transformation rit in vulputate velit . Recently esse molestie the $ 1.3bn consequat , vel Walgreens illum dolore Boots eu feugiat Alliance nulla ( WBA facilisis ) brought at vero eros Fairmarkit et accumsan in et to iusto address odio the dignissim problem qui . blandit “ praesent Enterprises luptatum the size zzril of delenit Walgreens augue can duis take anything dolore te feugait up to a nulla week facilisi to process . Lorem an ipsum order dolor – sit it ’ amet s a very , cons cumbersome ectetuer adipiscing process elit but , sed with diam Fairmarkit nonummy nibh we can euismod cut that tincidunt to a ut couple laoreet
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hours . Our customers on average see 30 % enim ad minim Lorem ipsum dolor sit amet , cost savings , 80 % operational efficiency consectetuer adipiscing elit , sed diam nonummy gains and a dramatic reduction of cycle time Lorem ipsum dolor sit amet , consectetuer Lorem to within a matter of hours .” Savings of this ipsum dolor sit amet , consectetuer adipiscing magnitude are clearly a massive benefit to elit , sed diam nonummy nibh euismod tincidunt stakeholders , making sense of the speed at
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