Case Study: bp halves sourcing cycle time and automates $100M of spend with Fairmarkit

bp "pushes boundaries" of procurement with Fairmarkit

bp, a global energy company headquartered in London, faced a major procurement challenge after a 25% workforce reduction and ongoing legacy, manual sourcing processes that strained teams and slowed spending oversight. To free up procurement resources for higher‑value work and improve spend management, bp turned to Fairmarkit’s automated sourcing platform to digitize and streamline RFx and supplier sourcing.

Fairmarkit’s solution automated routine sourcing activities, integrated with bp’s procurement workflow, and provided granular data for analysis and DEI initiatives. As a result bp put $1.2B through Fairmarkit in 18 months, automated $100M of sourcing with zero human intervention, cut cycle times by about 50%, and repurposed staff toward strategic tasks — outcomes driven directly by Fairmarkit’s platform and data.

bp

Nicholas Wright

Director, Digital and Innovation