Case Study: Snowflake boosts procurement efficiency with Fairmarkit

Snowflake cuts sourcing cycle times by 60% with Fairmarkit

Snowflake Inc., a leading provider of cloud-based data storage solutions, faced procurement inefficiencies including lengthy 25-day cycle times, excessive manual work, and a lack of strategic influence. Their procurement team was burdened by repetitive tasks and email-dependent communications with suppliers. To modernize their sourcing operation, Snowflake partnered with vendor Fairmarkit and implemented its autonomous sourcing platform.

By using Fairmarkit's platform, which includes AI and GenAI capabilities like auto-send and auto-award, Snowflake dramatically reduced its sourcing cycle times from 25 days to 6.4 days. The vendor's solution enabled 31.8% of events to run completely autonomously and improved awarded savings by an additional 5%. This automation allowed Snowflake's buyers to shift their focus from tactical tasks to strategic, value-adding activities, completely revamping their procurement operating model.

Snowflake Inc