Cabot identified tail spend as an important candidate for improving the procurement function . With hundreds of buyers located worldwide , there was a lack of visibility when it came to smaller and ad hoc transactions .

Within just a month , Cabot was able to use the Fairmarkit solution and deliver on the promise of adding value throughout the entire organization . The ability to analyze spend and provide transparency has been eye-opening , says Skerl . “ Tail spend wasn ’ t historically getting a lot of attention ,” says Skerl . “ With Fairmarkit , we were able to drive all transactions through the solution and then see which options fit our criteria . We are able to quickly identify where are the savings , where are the opportunities — and where are the missed opportunities .”

This elevated the procurement team ’ s ability to stop being consumed by tactical activities and instead use analytics to unlock potential value . equally and driven through the same process . Skerl says the ease in which Cabot was able to integrate and centralize this data was one of the highlights of the project .

“ The level of the visibility we can provide the business by pulling data from different procurement systems into a centralized dashboard is tremendous ,” says Skerl . “ We can immediately see the process flowing or pauses in the process . That transparency — for stakeholders from the Board to the buyer level — is a new ability for us . It helps us understand how we are utilizing ourselves .”

Yet where Fairmarkit really differentiated for Cabot was its ability to partner with the organization , says Skerl .

“ Fairmarkit has become a trusted advisor to us . They challenge us and push us to innovate and improve ,” he says . “ They have delivered what we did not think was possible .”

At Cabot , requisitions come from multiple locations and systems , yet needed to be treated

“ Fairmarkit has become a trusted advisor to us . They challenge us and push us to innovate and improve . They have delivered what we did not think was possible .”