Fairmarkit

The data that Fairmarkit has provided is really the key to the tool. We have never had data like it. DEI is really important to us in bp and it’s something we’re really passionate about within procurement. What we’ve been able to do is work with our category management organization using that data to figure out where we need to bring more diverse suppliers into the mix,

At bp, it was one of our first significant digital platforms, and it is disrupting the way that we work within procurement; it’s actually made people stand up and realize that we can do things differently. As a team and a company, we’re inspired to go out and look for the next Fairmarkit, whatever that may be, and be more aware and open to disrupting other manual processes.

Before Fairmarkit we had a very manual sourcing process and it took time and what that caused was frustration with our stakeholders. What Fairmarkit has allowed us to do is complete those requirements without the people there. And for us that has been massive to unlocking the efficiency targets that were achieved through the platform and also the reduction in cycle. So for example, we have taken our cycle time down by about half and what that means in real terms is our stakeholders get their work and their product and services about 50% quicker.