Procure to Pay partners with Boston-based startup, Fairmarkit, to provide the BU Requisitioner community with a streamlined machine-learning tool to quickly and efficiently solicit competitive quotes for purchases under $100,000. Requisitioners have access to Fairmarkit’s Quick Quote via Guided BUying.

Fairmarkit’s Quick Quote tool allows requisitioners to easily meet competitive bid requirements and achieve greater cost savings by soliciting competitive quotes from a larger supplier base within 48 to 72 hours.

Once a quote is generated, navigate to the Your Requests tab on the homepage of Quick Quote tool through Guided BUying and select the composing PR. Once you click edit you will be brought to the checkout screen.

Requisitioners can now collect competitive prices and bid documentation for purchases using Fairmarkit through the homepage of Guided BUying.

The Quick Quote tool can be used to easily meet competitive bid requirements for purchases between $500 and $100,000.

Within the Fairmarkit platform, requisitioners will create Quick Quotes or “requests for quotes” (RFQs) by entering in the items and quantities they need.

Fairmarkit will automatically recommend suppliers based on past purchases for that item or by requisitioner history. All registered suppliers are included in the tool.

Download the Fairmarkit Training Guide

The Quick Quote tool is best used for easily commoditized purchases between $500 and $100,000. Below are some of the commodity codes we recommend for Quick Quote through Fairmarkit:

• Industrial/maintenance supplies
• Industrial equipment
• IT accessories
• Laboratory equipment
• Office furniture
• Building supplies
• Janitorial suppliers
• Media/audiovisual equipment

Requisitioners and approvers can access Fairmarkit via the homepage of Guided BUying.

All that is required to start a “quick quote” (RFQ) is a general idea of what you need. If you know the manufacturer or part number of the item, you can better focus the supplier selection to get the most accurate quotes. Within Fairmarkit, you can select suppliers that are recommended to you based on the description, manufacturer, and/or part number you enter, as well as based on your historical purchases.

Download the Fairmarkit Training Guide

Yes, you can attach files and notes that can be made visible to all participating suppliers. Note: when communicating with suppliers, you should never share your budget or prices from other suppliers.

Once the Request for Quote (RFQ) has closed, you will receive an email notification with a button link titled “Review and Award.”

• 1) The lowest bid column will be highlighted in green. Note: If the bid has not closed, click Actions > Close to manually close the bid.
• 2) Award the Bid: Click the trophy icon next to the desired vendor to award the business to the vendor.
• 3) Click Award 1 Item.
• 4) The RFQ will update to awarded and the winning vendor will receive notification.

You do have the choice to award to non-registered suppliers, however, please take into consideration, the supplier registration process can impact the lead time on the purchase, and onboarding of new supplier is subject to approval by Sourcing & 采购 based on an evaluation of the Best Total Value* of the purchase. If you award a non-registered supplier, you must submit the Supplier Request Form in Guided BUying.

* Best Total Value is defined as the evaluation process that encompasses any, or all, of the following considerations: lowest purchase price, compliance with technical or functional specifications, product availability, ordering and invoicing processes, service standards, accounting compliance, terms and conditions, reputation, sustainability practices, diversity status, avoidance of risk to the University, and regulatory requirements.

Once you award your Quick Quote to a supplier, you will be able to download a PDF copy of the final quote from the awarded supplier and a summary of the competitive bid with all the prices provided by the suppliers who participated in the Quick Quote.

Navigate to the homepage of Guided BUying and select the Your Requests tab. Under the Your Requests tab, select the PR in Composing status and click Edit. Once in the checkout screen, attach the Awarded Supplier Quote and the Bid Summary (if needed). The Bid Summary only needs to be attached to the PR if the dollar threshold of the purchase requires competitive bid documentation.

Share with supplier:

• Bid Summary: When attaching, make sure the share with supplier box is not checked so the awarded supplier does not see prices from all bidding suppliers.
• Awarded Supplier Quote: When attaching, check the share with supplier box so the supplier can see their quote

The only change is the way you provide your pricing; the purchase process with Boston University is not changing. Fairmarkit is allowing you, along with other suppliers, to submit their quote in an easy and timely manner.

This email allows you to click “Add Bid,” which will bring you to the quote submission page. You will be able to quickly fill out the information requested such as quantity or pricing. Additionally, the requestor may allow you to add alternative products of equal or greater value and price for those items.

Yes, you can attach files in your quote submission if you feel it would be helpful to the requestor; however, you are not required to attach any files with your bid.

You may submit a bid for a) the exact item and quantity requested, b) an alternative item of equal or greater value than what was requested with equal quantities, or c) for a subset of the total lines requested, but the quantity must match. If you choose to submit a partial bid, please use the notes section to clarify your bid to the requestor.

If you choose not to bid on the quote request, simply click “No Bid” and you will be given an opportunity to choose why you declined to bid and submit your response.

If you submitted a bid, you will be notified by email if you were awarded the bid or if the bid was awarded to another supplier. If you are awarded a bid, you will receive instructions to wait for a Boston University purchase order before fulfilling the order. If you are not a registered Boston University supplier, you will need to complete the online supplier registration before receipt of the purchase order. All requests are subject to change, and awards in the Quick Quote tool do not guarantee purchase.