Case Study: Refinitiv achieves 10% savings and a 5-month ROI with Fairmarkit

Refinitiv scales automated sourcing for maximum efficiency and 5-month ROI

Refinitiv, a market data and insights company spun out from Thomson Reuters, faced aggressive savings targets and limited visibility into thousands of tail‑spend suppliers and purchases under $100,000. To add automation and bring more low‑value spend under management, Refinitiv’s sourcing team engaged its Sourcing Center of Excellence and selected Fairmarkit’s automated sourcing platform.

Fairmarkit was rolled out in phases (starting <$25k, then <$50k, then <$100k), automating bid invites, vendor recommendations, and bid management so category managers only needed to award contracts. The Fairmarkit solution brought 5,000 suppliers under management, sourced sub‑$100k purchases through the platform, delivered 10%+ identified savings within five months, and achieved rapid user adoption and a quick ROI.

Refinitiv

Pavan Goswami

Lead - Sourcing (Center of Excellence)