Fairmarkit Total Agentic Sourcing

Fairmarkit, Inc. is a US company based in Boston, founded in 2017 by Kevin Frechette and Victor Kushch. It addresses the problem that a large share of enterprise spend, which the company puts at more than 30%, is never competitively sourced because buyers lack time to run tenders for every request.

The platform uses AI agents across the sourcing cycle: an Intake Agent builds compliant requests, a Supplier Discovery Agent matches buyers to a marketplace of more than 2.7 million suppliers and flags renewals, an RFx Execution Agent runs events at scale and an Evaluation Agent analyses bids and supports negotiation. Total Agentic Sourcing, announced in 2026 and powered by the KIT assistant, runs routine purchases without human intervention and speeds up strategic events while category managers decide. It syncs with ERP and P2P systems and serves large enterprises.

• Intake Agent: builds fast, compliant purchase requests through guided dialogue.
• Supplier Discovery Agent: matches requests against 2.7 million+ suppliers and monitors contract renewals.
• RFx Execution Agent: builds tactical, strategic, complex or auction events at scale.
• Evaluation Agent: analyses bids with scenario modelling and supports negotiation.
• Auto Compliance and performance tracking: applies policy rules with an audit trail and monitors savings and cycle times.
• Supplier Portal and integrations: supplier quoting suite and sync with SAP Ariba, SAP S/4HANA, Coupa, Oracle and ServiceNow.

• A Vietnamese conglomerate on SAP can route low-value indirect purchases to automatic RFQs across several suppliers.
• An airline caterer, hospital group or manufacturer can shorten sourcing cycles for MRO and services categories.
• An FDI plant can monitor contract expiries and trigger renewal tenders automatically.

• Fairmarkit reports an average of 11% identified savings and an 86% reduction in cycle time from intake to award.
• A 300% increase in events sourced per buyer lets teams bring tail spend under competition without extra headcount.
• Bi-directional ERP and P2P sync keeps sourcing inside existing purchasing systems.
• SOC 2 and ISO 27001 compliance and zero LLM data retention support enterprise security reviews.

Procurement teams are under pressure to source more spend competitively without adding staff, and AI agents are moving from pilots into daily purchasing. Large groups and multinationals in Southeast Asia, including Vietnam, run SAP or Oracle ERPs with many small indirect purchases that rarely go to tender, which is the gap autonomous sourcing tools target.

Fairmarkit, Inc. was founded in 2017 by Kevin Frechette (CEO) and Victor Kushch (CTO), with a notices address at 1 Beacon Street, Boston. Customers named on its website include Boeing, BP, Snowflake, ServiceNow, Goodyear, Walgreens and Emirates Flight Catering. It states SOC 2 compliance and ISO 27001 certification, hosts on AWS, and was named a G2 High Performer in spring 2025.