Fairmarkit Recognized in Three Categories of the 2025 Gartner® Hype Cycle™

Named in Tail Spend, Supplier Discovery, and Autonomous Sourcing, the AI-Powered Platform Affirms its Leadership in Driving End-to-End Sourcing Automation

BOSTON--(BUSINESS WIRE)--Fairmarkit, the leading AI-powered autonomous sourcing solution for enterprise procurement teams, announced today that it has been recognized in the 2025 Gartner® Hype Cycle™ for Procurement and Sourcing Solutions. The company was named in three key categories: Tail Spend Solutions, Supplier Discovery, and Autonomous Sourcing—reflecting its evolution from a specialized tail spend tool into a full autonomous sourcing platform that supports the entire procurement lifecycle.

“We’re thrilled to be recognized in three distinct categories in this year’s Gartner Hype Cycle,” said Shane Hetrick, VP of Product at Fairmarkit. “Being named in the Autonomous Sourcing category is especially meaningful for us. From the early days of Fairmarkit, we recognized the potential of AI in procurement. Today, our customers are realizing the benefits of a fully autonomous sourcing journey. We are continuing to develop the leading agentic sourcing platform where procurement professionals and AI work side by side as one.”

Fairmarkit’s autonomous sourcing capabilities enable procurement teams to handle complex sourcing events with speed and precision, significantly reducing manual efforts while improving compliance and supplier diversity. By leveraging AI-driven demand management, intelligent supplier matching, and automated negotiations, Fairmarkit helps customers achieve better outcomes, transforming procurement teams from tactical operators into strategic partners within their organizations.

"You're talking about not just auto-bidding and auto-negotiation, you're talking about rebuilding SOWs and more,” said Conor Murchison, Director of Strategic Sourcing at Snowflake, a Fairmarkit customer since 2022. “The more efficient and the more effective we can be with things like autonomous sourcing through Fairmarkit, that gives our buyers and sourcing managers more time to add more value.”

While Fairmarkit has expanded to address strategic sourcing, it continues to lead tail spend management, where inefficiencies and hidden costs often erode value. Fairmarkit's platform taps into a vast supplier marketplace built over years of investment, giving customers unparalleled visibility and agility to find the right suppliers faster than ever before.

“Our massive supplier marketplace and AI recommendations remain a core strength, empowering customers to broaden their supplier base and improve competition, whether they’re sourcing strategic categories or addressing tail spend,” said Hetrick.

The recognition across three Gartner® Hype Cycle™ categories reinforces Fairmarkit’s role as a pioneer in AI-powered procurement. As enterprises look to operationalize GenAI, agentic AI, and autonomous sourcing, Fairmarkit is excited to be leading the charge toward a smarter, faster, and more strategic procurement landscape.

A link to the full Gartner® Hype Cycle™ can be found here.

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About Fairmarkit

Fairmarkit is the premiere AI-powered autonomous sourcing solution for enterprise procurement, empowering teams to manage all types of spend more efficiently from demand to award. Fairmarkit’s award-winning AI product suite delivers unparalleled efficiency to each step of the procurement cycle, equipping teams to source better, faster, and cheaper with greater risk mitigation. Procurement teams from Amazon, BP, Goodyear, Nestle, and others are using Fairmarkit in more than 70 countries to take on more spend under management, enhance compliance, strengthen supplier relationships, and achieve record savings. For more information, visit Fairmarkit.com.