Fairmarkit vs Procurify

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Our analysts compared Fairmarkit vs Procurify based on data from our 400+ point analysis of Procurement Software, user reviews and our own crowdsourced data from our free software selection platform.

Product Basics

Fairmarkit is a cutting-edge software designed to streamline procurement processes for businesses of all sizes. It's particularly well-suited for organizations looking to automate and optimize their purchasing tasks, thanks to its ability to manage vendors, generate insights, and ensure compliance efficiently. One of the key benefits of using Fairmarkit is its ability to save time and reduce costs by automating routine procurement tasks, allowing teams to focus on strategic decision-making. Popular features include vendor management, spend analytics, and automated bidding, which collectively enhance the procurement process. When compared to similar products, users often highlight Fairmarkit's user-friendly interface and the robustness of its analytics as standout attributes. Pricing considerations for Fairmarkit typically involve a range based on the scale of the procurement operations and the specific needs of the business, with payment options that can vary from monthly to annual subscriptions, making it a flexible solution for businesses aiming to improve their procurement strategies.

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Procurify is a spend management solution that helps improve spend culture by tracking expenses and purchases. It streamlines workflows and approval processes, as well as enables faster communication. Features include budget tracking, expense management, vendor management, audit logs, analysis, reporting and more. Easy integration with accounting offerings makes it easier to accumulate data in one place, while mobile access offers user convenience.
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Product Assistance

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Product Insights

  • Intuitive Interface: Enhance visibility with more control in an accessible, uncomplicated dashboard. 
  • Free Trial: Access a free trial to have a quick browse through before making any investments. 
  • Easy to Use: Automate and streamline the database workflow with a simplified, intuitive interface. 
  • Improved Efficiency: With advanced analytics and automation processes, streamline workflows to improve efficiency. 
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  • Mobile App: Request, approve and receive goods; record items; capture and save packing slips and receipts; and receive alerts when an item needs attention. 
  • Control Expenses: Track purchases and budget, viewing a purchase pipeline to check what needs to be bought next month and plan accordingly. 
  • Integration: Use API access to integrate with accounting systems like NetSuite and QuickBooks, purchasing systems like Amazon PunchOut, and other software like Slack. 
  • Faster Communication: Communicate in-app instead of depending on emails or messages in another tool, which makes the decision-making process easier. 
  • Stay Compliant: Track and manage budget, purchase orders, shipping documents and invoices on one platform and ensure they are ready during the auditing process. 
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  • Request Management: Automate, centralize and streamline requests. Create requisitions using existing ERP and P2P platforms, identify vendors, analyze reports and award bids, accessing it all under one unified space. 
  • Process Automation: Access streamlined, automated data in real-time, vendor identifications, score responses and bid invitations without enduring manual work. 
  • Vendor Recommendation: Automate requests based on product category, purchase data and vendor response behaviour without the hassle of labour-intensive manual workflows. 
  • Speed Analytics: Regulate compliance while proactively monitoring KPIs and keeping stakeholders informed and up to date. Manage and optimize data, budgets and resources. 
  • Integrations: Seamlessly integrate with ERP and P2P platforms. With reduced IT resources, quickly implement functionality into cloud-based and VPN networks. 
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  • Approval Process: Customize and decide approval flows, control who gives approvals, and set approvals based on location, departments, users and dollar thresholds. Get notified and check real-time impact of budgets before approval. 
  • Purchasing Workflows: Streamline item purchase, approval, receiving and requests and match invoices to POs for payment. Pay with 3-way matching, generate POs and search for records. 
  • Budget Tracking: Track budgets in real time, keep a check on expenses and set up budget by projects, departments and more. Check the impact of new items on the budget before purchase and access graphs on actual and committed spending. 
  • Expense Management: Monitor personal spending or spending on credit cards, loop paper receipts and upload statements on the mobile app. 
  • Vendor Management: Manage vendors and track their performance against set parameters, create purchase orders, check for received items before making payments and create catalogs to order items from the right place. 
  • Spend Analysis and Reporting: Log spending and purchases, leveraging reporting graphics to get insights on trends. Access spend analysis divided into set categories like departments, users and more. 
  • Audit Logs: Capture, record and manage the history of all purchasing documents, including what edits were made and who made the request, approved purchase and received the items. 
  • User Permission: Set and customize job roles based on requirements and at a glance view permissions that are enabled for specific job roles. Limit access to administrative pages to specific job roles. 
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Product Ranking

#28

among all
Procurement Software

#8

among all
Procurement Software

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Analyst Rating Summary

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Analyst Ratings for Functional Requirements Customize This Data Customize This Data

Fairmarkit
Procurify
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Budget Management Contract Management Dashboard And Reporting Invoice Management Mobile Capabilities Native Integration And Extensibility Platform Capabilities Product Catalog Purchase Orders Management Receiving And Inventory Management Requisitions Sourcing Spend Management Supplier Management 98 0 83 67 97 83 82 90 90 36 90 50 68 77 0 25 50 75 100
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Analyst Ratings for Technical Requirements Customize This Data Customize This Data

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User Sentiment Summary

Excellent User Sentiment 6 reviews
Excellent User Sentiment 302 reviews
94%
of users recommend this product

Fairmarkit has a 'excellent' User Satisfaction Rating of 94% when considering 6 user reviews from 2 recognized software review sites.

90%
of users recommend this product

Procurify has a 'excellent' User Satisfaction Rating of 90% when considering 302 user reviews from 4 recognized software review sites.

n/a
4.7 (17)
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4.6 (37)
4.67 (3)
4.5 (139)
4.7 (3)
4.5 (109)

Awards

Fairmarkit stands above the rest by achieving an ‘Excellent’ rating as a User Favorite.

User Favorite Award

Procurify stands above the rest by achieving an ‘Excellent’ rating as a User Favorite.

User Favorite Award

Synopsis of User Ratings and Reviews

User-Friendly Interface: Many users praise Fairmarkit's platform for being intuitive and easy to navigate, simplifying the sourcing and purchasing process.
Time Savings: Fairmarkit automates many procurement tasks, such as vendor discovery and RFQ creation, which frees up time for users to focus on more strategic initiatives.
Increased Competition: The platform broadens the pool of potential vendors, leading to more competitive bids and potentially better pricing for buyers.
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Ease of Use: According to all users mentioning this aspect, the system is very easy to use and has a low learning curve.
Purchasing: It’s easy and quick to order supplies, making the purchasing process smooth in the experience of all the reviewers referring to this feature.
Ordering: This feature helps keep things in order and provides ready-made templates to order multiple items, according to all reviews referring to it.
Autofill: All users mentioning this aspect say the system helps auto-fill fields and recurring orders.
Budget Management: It's easier and quicker to analyze and approve budgets, according to 60% reviews mentioning this feature.
Navigation: Navigation between systems and features is seamless, according to all reviews referencing this aspect.
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Limited Functionality for Complex Procurement: Fairmarkit may not be suitable for organizations with intricate procurement processes or those dealing with highly specialized goods and services. Its strength lies in automating routine purchases, but it might lack the depth for complex sourcing events or managing intricate supplier relationships.
Integrations and Customization: Some users have noted that integrating Fairmarkit with existing ERP or procurement systems can be challenging, potentially requiring additional IT resources or custom development. Additionally, customization options within the platform might be limited, making it difficult to tailor the system to specific organizational workflows or unique requirements.
Supplier Management Features: While Fairmarkit facilitates supplier onboarding and communication, it may not offer comprehensive supplier management capabilities. Organizations with extensive supplier networks or those requiring advanced supplier performance tracking and evaluation might find the available features insufficient.
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Interface: More than 70% of users mentioning the interface report that the system has bugs and is slow.
Integration: More solutions need to be added as integration options, as more than 65% reviews that mention this feature note.
Receiving Items: All the reviewers mentioning this aspect observe that every time a new item is received, the main list refreshes and the item is lost.
Inventory Management: Every user mentioning this aspect say this feature would be better if it helped track inventory.
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User reviews from the last year suggest Fairmarkit is making a splash in the Procurement software market. Users rave about its intuitive interface and robust automation features, which streamline the sourcing and purchasing process. They appreciate how Fairmarkit helps them identify cost savings by automatically comparing vendor quotes and suggesting alternative suppliers. This is particularly valuable in today's volatile market where prices can fluctuate rapidly. However, some users have pointed out that the platform's reporting functionality could be more comprehensive and customizable. Others have noted that while Fairmarkit integrates well with major ERP systems, it could benefit from broader integrations with other business applications. Overall, Fairmarkit seems best suited for organizations looking to automate their tail-spend procurement processes. Its user-friendly design and focus on cost optimization make it a valuable tool for businesses of all sizes, but particularly those with limited procurement resources. However, companies with complex reporting needs or requiring extensive integrations might need to consider additional solutions to complement Fairmarkit's capabilities. Keep in mind that software features and user experiences can change quickly, so it's always a good idea to check the latest information online.

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Procurify is an easy-to-use system that improves budget management, provides useful templates for orders and simplifies item purchasing. It also offers user-friendly navigation, autofill features and more. However, reviews cite a slow system, difficulty in integration and the lack of inventory management as some drawbacks. It also loses newly received items due to list refreshes. Overall, it’s a good fit for companies that require frequent purchasing and expense management.

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Screenshots

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